How to Qualify for Homeownership

How to Qualify for Homeownership

To apply and qualify to become a Habitat homeowner you must meet the following three criteria and additional requirements:

Need for a Home (ONE of the following situations must apply)

Inadequate Housing- Problems with the present structure such as: water, electrical or sewage service system, heating, poorly maintained (substandard), or failure to meet city property maintenance standards

Overcrowded- Family size compare to number of bedrooms in the home

Government Subsidized Rent- Living in a government-subsidized housing (i.e. Housing Authority, Section 8 housing)

Cost Burden- Cost of rent plus utilities is more than 30% of applicant’s monthly income

Unable to obtain a mortgage through the Private Market- Applicant has been denied for a conventional or government assisted mortgage loan

Transitional- Currently living with a family member or friend

Ability to Pay
Income Requirements

Must demonstrate the ability to afford the projected Habitat no interest monthly mortgage payment (payment depends on size of the home, mortgage includes principal, taxes and homeowner’s insurance)

Must have a minimum of two years of continuous (must have at least six months with current employer) and documented income and currently earn a minimum annual gross income of $27,822.22 to $30,511.11 (depending on the size of home that applicants qualify for)

*Gross income (before taxes and deductions are taken from paychecks)

We count income from job wages, court order child support, alimony, Social Security Survival benefits (SSDI), Supplemental Security Income (SSI) and Disability.

According to family size, the total family annual gross income must be LESS than the chart below

According to family size, the total family annual gross income must be LESS than the chart below

Monthly mortgage payment cannot exceed 30% of the applicant’s gross monthly income.

Monthly debts (those shown on credit history), including the mortgage payment, cannot exceed 43% of applicant’s gross monthly income.

Have the ability to save the $1,500 escrow down payment. $500 at approval and $1,000 before closing

Credit Check

Habitat will conduct a credit check. Medical debt is not taken into consideration and we do not look at credit scores. Instead, we consider your credit history. However, non-medical accounts in collection, charge-offs or unsatisfied public records need to be resolved prior to approval.

Bankruptcy release date must be at least four years old

Willingness to Partner

Willing to complete the required 300 sweat equity hours to help build your own and other Habitat homes

Willing to attend the Homebuyer Education Workshop (spread out over three Saturday’s from 8:30 am to 4:30 pm)

Willing to complete the mentoring program

Additional Requirements

Must be a first time homeowner (cannot have owned a home within the past 3 years, except for a mobile home)

Must live or work in Martin County for twelve (12) months prior to applying with Habitat

All adults in household must pass a criminal background check

All members in household must be either US citizens or legal permanent residents (green card)

 Habitat for Humanity is pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to becoming a homeowner due to race, religion, sex, handicap, familial status or national origin.





Due to the COVID-19 outbreak, social distancing guidelines and state regulations, we require that all ReStore customers wear protective face coverings while shopping in either of our stores. Please limit touching items to those you intend to purchase. 
Due to COVID-19, We prefer our pickups to be "contactless" Your items would need to be in a garage, patio, carport, or outside (weather permitting). Donations receipts will be emailed after pickup occurs. If this is not possible, we will enter your home, if you are wearing a mask. This is for your safety and the safety of our employees. Please call (772) 223-9940 for donation pickup options. Deliveries are still halted at this point.
 In an overabundance of caution, we are still not accepting volunteers in either of the ReStores or on the construction sites until further notice.

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