homeownership/requirements
Ownership requirements
TO DETERMINE IF YOUR FAMILY QUALIFIES FOR A HABITAT HOME:
- Applicants have lived and/or worked in Bend, Oregon for at least one year.
- Applicants are able to maintain the payment for a BAHFH home and can provide proof of income.
- Applicants are able to provide personal and employment references.
- Applicants are willing and able to attend and complete all designated workshops, classes and other sweat equity requirements (600 hours/couple and 400 hours/single adult family - approximately 8-12 hrs per week for at least one year).
- Applicants are willing and able to enroll and successfully complete a savings program through NeighborImpact. This will require saving a certain amount of money for a minimum of 12 months toward a down payment. This will require budgeting!
- Applicants have a debt burden that is under control; no more than 40% of their annual income. (Add up all income, multiply by 40%, that amount equals maximum debt allowed. Add up all debt; totals-not monthly payments. The debt total should be less than the maximum debt allowed.) A credit report will be run.
- Applicants must not have declared bankruptcy within the last two years.
- Applicants must be legally qualified to purchase property in the State of Oregon. (For example: proof of legal residency and favorable outcome of existing court actions - divorce, felony, bankruptcy and/or judgments).
- Applicants' total gross (before taxes) household income must fall within current guidelines. (household income includes all income from individuals 18 years or older who contribute to the overall financial status of a household. These individuals do not have to be related to be considered part of the household.) Please refer to the qualification guide for income guidelines. Remember these are guidelines and are subject to change from one open enrollment period to the next. Qualification guide: English or Spanish.
