How to apply  Visit our website, www.nwihabitat.org and click on “APPLY FOR A HOME”  Fill out the pre‐applica on and hit the “SUBMIT” bu on  Request your free credit report at www.AnnualCreditReprot.com or call toll free: (877) 322‐8228  Forward the credit report to familyservices@nwihabitat.org Next steps You should hear from us within 2 weeks a er we receive your applica on. Call 219‐923‐7265 or email at fami‐ lyservices@nwihabitat.org if you have any ques ons! Our Mission Seeking to put God’s love into ac on, Habitat for Humanity brings people together to build homes, communi es and hope. HABITAT FOR HUMANITY of NORTHWEST INDIANA 6114 W. Ridge Road Gary, IN 46408 Phone: (219) 923‐7265 Fax: (219) 923‐7416 www.nwihabitat.org November 2012 How to apply for a Habitat for Humanity Home Applying for a Habitat Home… Families who are selected to buy a home must meet the 3 selec on criteria and 3 eligibility criteria. 3 Selec on Criteria:  Need  Ability to pay  Willingness to partner with Habitat 3 ELIGIBILITY CRITERIA:    Perform sweat‐equity hours. A end workshops and classes. Pay a down payment and closing costs. Need criteria  Income between 30% and 80% of the median income for Lake County  Present housing condi ons must be inadequate, some examples are: ‐ Overcrowded ‐ Unsafe ‐ Poor repair ‐ Too expensive for your income Family Size 1 2 3 4 5 6 7 8 Monthly mortgage payments, including principle, taxes and insurance: Around $500.00 Habitat mortgage vs tradi onal 25 year mortgage on a $100,000 CONVENTIONAL HABITAT DOWN PAYMENT $20,000.00 $1,000.00 INTEREST OVER LIFE OF LOAN $80,000.00 ZERO Willingness to partner criteria  Agreement to complete sweat‐equity requirement.  Agreement to a end homeowner prepara on workshops:  Thirteen week Financial Peace budge ng class  New homeowner workshop   Ability to pay criteria  Must meet minimum income requirements  Debt must not be excessive.  Any liens or judgments must be cleared before taking possession of your home.  Consistent payment history.  Able to make applicable down payment and closing costs. Income Range $13,700 - $36,550 $15,650 - $41,750 $17,600- $46,950 $19,550 – $52,150 $21,150 – $56,350 $22,700- $60,500 $24,250 - $64,700 $25,850 - $68,850 MONTHLY PAYMENT $534 PLUS TAXES & INS* $267 PLUS TAXES & INS * payment based on 25 year amor za on at 4% interest rate with no added PMI  You may be asking yourself… How many hours a week will I need to commit to working with Habitat for Humanity? Partner families are responsible for 300 hours of sweat equity. Can family members or friends help with this requirement? Friends and family may complete up to 150 hours for you. Am I willing to a end workshops to learn about money management and homeownership? “the Financial Peace classes gave me so much informa on about how to be be er prepared for the future. I have received so much more than a home through Habitat for Humanity.” Danah Dietz, Habitat partner family