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How Does the Program Work
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Thrivent Builds
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Habitat for Humanity in the Roanoke Valley, Inc. will look at three things:
Need ...............
 | Habitat will look at your present housing to see if there are problems
with the structure, water, electrical or sewage systems, heating, or other
maintenance problems, or if your family is crowded into too small a
space. We will also consider the safety of your neighborhood and
whether you can buy housing through another source. |
| Habitat will consider how much you pay for your present housing. You
will be required to openly and fully discuss your financial situation with a
Habitat interviewer, and document all income. |
| Habitat will see if your family's total income falls between 25%-60% of
Roanoke's Median Family Income. Habitat may consider special needs of
families whose income does not meet this guideline. |
Ability to Pay ...............
| Since you will be actually buying your home from Habitat, you must show
that you are able to make the monthly payments and pay a small down payment.
Currently families must make at least $1400 per month to be approved for a
Habitat loan. Your monthly payments will include not only the mortgage payment but also
the payment for real estate taxes and insurance. Our monthly payments
are based on the cost to build. |
| Approved families must pay
down current
debts and take on no new debts before moving into their home. |
| Habitat requires families to pay off all judgments, collections and liens before
approval and have no discharged bankruptcies within the last two years. |
Willingness to Partner ...............
| After selection as "Partner Families" by the Habitat
Board of Directors, families are required to contribute sweat equity hours
to help themselves and others. "Sweat
equity hours" are 200 for the applicant, 100 for each additional adult
in the household, 50 hours for 16-17 year olds and 25 hours for 14-15 year
olds. This volunteer work is
either on the construction site, warehouse, or office. |
| Habitat's Partnership Committee presents a series of required meetings
designed to prepare families for home ownership. After moving into
their new home, Habitat expects families to maintain finances and seek
budget counseling when necessary. |
| Families will be responsible for maintenance and repairs of their home and
yard from the time they move into their home. |
| For more information on how to apply to become a Habitat homeowner request
information at
homeownership@habitat-roanoke.org. |
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