Becoming a Homeowner
Do You Want to Own Your Own Home?
If your final application is approved, Our next home project could be Your new home APPLY TODAY!
Answer the 5 easy questions below
1. Have you resided in the Greater Albany Public School District for the past year?
2. Do you have legal residency status in the US?
3. Is your current housing situation inadequate?
Inadequacy may include:
* Poor heating or wiring, a leaky roof, mold, or other factors
* Not having enough space for your family
* Paying 50% or more of your income towards housing
5. Are you willing to partner with Habitat and other volunteers in the community to build your own home?
6. Can you manage your current debt?
If you answered yes to all five questions, you may qualify for a Habitat home.
Habitat is not a giveaway program. Homeowners invest hundreds of hours of their own labor, called Sweat Equity, into
building on Habitat construction sites including their own house. They agree to pay a no-profit, no-interest mortgage for their home. The selection of families who purchase homes from the Albany Area Habitat for Humanity is done by the Family Selection Committee and approved by the Board of Directors. The selection process is conducted in a way that does not discriminate on the basis of race, sex, color, age, handicap, religion, national origin, family status or because all or part of income is derived from any public assistance program. All applicants are required to live within the Greater Albany Public School District boundaries for at least one year prior to the date of applying.
We have four selection criteria that we use to objectively make selections:
- Residency: All applicants are required to live within the Greater Albany Public School District boundaries for at least one year prior to the date of applying.
- Ability to Pay: Using factors such as debt-to-income ratio, a minimum income guideline, monthly payment consistency along with other factors, we can determine whether our applicants have the willingness to repay a mortgage and the resources necessary to purchase housing from the Albany Area Habitat for Humanity.
- Need for Adequate Shelter: Housing need, as we define it, must be evident since it is not possible for us to assist everyone. Families who qualify for other options should pursue them. Our affiliate seeks to assist families who have the goal of becoming independent homeowners. These families desire to become homeowners but are unable to do so. They are, nevertheless, willing to do what they can to help themselves improve their housing situations.
- Willingness to Partner: Applicants should be willing to be advocates for Habitat for Humanity in the community. Each family selected to purchase a home from Albany Area Habitat for Humanity invests in the Habitat program by attending classes in home maintenance and finance, by contributing $1,000 in closing costs (paid in monthly installments), and by working 250-500 hours of sweat equity, all before becoming a homeowner. Sweat equity is an exciting learning experience in which you work with your family, neighbors and friends to build other peoples' homes as well as your own. Working alongside volunteers and future neighbors to build your home and community is one of the most unique and rewarding aspects of Habitat for Humanity.
To apply for a home today-call the Habitat office at 541.967.4030, select option number 3 for Family Selection, listen to the recorded message, and leave your name, address and telephone number.