Requirements to Purchase a Habitat Home
To be eligible to become a Lexington Habitat for Humanity Partner Family, you must meet the following requirements:
- Be a legal United States resident
- Live or work in Fayette County for at least one continuous year prior to application
- Earn a minimum of $1,400 gross per month
- Have a steady source of income for two years prior to filing the application, or one year if you've been at your current job for one year.
- Any bankruptcy filings must have been discharged a minimum of one year prior to filing an application
- (Maximum Income) -- Have a total household income which does not exceed 60% of the median income for similar size families in Fayette County.
For 2011 Income limits, see chart below:
Family Size |
Maximum Income |
1 |
$27,840 |
2 |
$31,800 |
3 |
$35,760 |
4 |
$39,720 |
5 |
$42,900 |
6 |
$46,080 |
7 |
$49,260 |
8 |
$52,440 |
Demonstrate the following:
(1) Substantial need for housing--Your home must be:
- Substandard--problems with heat, water, electricity, structure
- Insufficient space--lacking enough bedrooms for the number of people in the household
- Dangerous--located in unsafe or unsanitary living conditions
- Inadequate--not suited for a family member who has a limitation
- Subsidized for an extended period of time
(2) Ability to Pay
- Your income will not stop or decrease by owning a home and is stable over time
- Your income will allow you to make 10 monthly payments of $50 for your first year of homeowner's insurance ($500) before you move into the house
- Your credit report and current debts are satisfactory
- Your income does not qualify you for other home ownership programs
(3) Willingness to partner with LHFH
- Completing the application on time with all the requested information
- Be willing to move to a new location within Lexington
- Agree to complete sweat equity hours (see below)
- Show that the family is ready for the responsibilities of owning and keeping up a home and yard
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www.lexhabitat.org |
