Wednesday, May 5, 2010

Qualifying For A Home

Please Note: We are not accepting applications from prospective homeowners at this time. Watch our web site for updates. Habitat for Humanity Muskoka will advertise in local papers when selections will begin for our next homes.
At Habitat for Humanity Muskoka, we:
• Invite applications from low-income families of any ethnic, social, religious background, or family structure.
• Build simple, decent, affordable homes with the partner families (who will purchase the Habitat home) through the cooperative efforts of the partner family, other volunteers, and professional trades people.
• Sell the Habitat houses with no-interest mortgages to the partner families.
How are Habitat partner families chosen?
There are 3 basic requirements:
1) The family’s present housing conditions are too expensive, inadequate, unhealthy, or unsafe.
2) The family’s willingness to partner with Habitat for Humanity Muskoka by providing a minimum of 500 hours volunteer work with Habitat For Humanity Muskoka toward their Habitat home. Families agree to invest a minimum of 500 hours of sweat equity, all of which are to contributed prior to the purchase and move into the Habitat home. A minimum 250 hours must be completed on the construction of their home. Each family is permitted to designate family and friends to contribute their sweat equity hours. In addition individualized learning plans identified through the family support liason may also be considered as sweat equity hours.
3) The family’s total income must not be more than pre set amounts ranging from $29,946 ($2,496 monthly) for a family of two, to $59,893 ($4,991 monthly) for a family of six or more. It should be noted that other qualifying income may also include such things as room rental to non family members (rental income is considered to be part of the homeowner's family income).
Applicants must have a minimum monthly income sufficient to pay for an interest-free mortgage, taxes, and insurance with 30% of the income. The final cost of the home will depend on its appraised fair market value, a Cananda Revenue Agency requirement. Over time the homeowner’s equity in the home increases.
Please Note: In order to apply for consideration based on the above requirements, the family must be Canadian Citizens or Landed Immigrants and have been residents of Muskoka for at least the last 2 years. Any bankruptcy must have been discharged at least 2 years ago.
If you are interested in receiving additional information about applying for a Habitat for Humanity Muskoka home, please contact us by telephone or e-mail at address in link contact us. 705 646-0106 ext 6
We look forward to hearing from you, and will be happy to supply further details and answer any other questions you may have.
Please Note:  We are not accepting applications from prospective homeowners at this time. Watch our web site for updates. Habitat for Humanity Muskoka will advertise in local papers when selections will begin for our next homes.
Habitat for Humanity Muskoka
Building Homes Building Hope

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