Habitat for Humanity of Greater Chattanooga Area is looking for “buyer ready” families who have:
- A NEED FOR HOUSING
- THE ABILITY TO PAY
- A WILLINGNESS TO PARTNER
- Family does not qualify for homeownership through traditional financing
- The family’s income is not more than 60% of the median income of Hamilton County.
- The family is spending 50% or more of their income for housing and does not have a down payment for a home.
- The family is receiving temporary, non sustainable financial support that, upon losing the assistance, will cause the family to spend 50% or more for housing.
- The family’s current housing has defective living conditions (water, electrical, heating or does not meet city property maintenance standards).
- The family’s housing is overcrowded.
- The family’s home does not accommodate the needs of a disabled household member.
- The family is living in temporary housing under one of the circumstances listed below:
- tentative living arrangement with relatives or friends
- in transitional housing facility or motel
- in housing that is being condemned, sold or moved
- losing lease or voucher due to uncontrollable circumstances
- living in a car, tent or similar situation
ABILITY TO PAY:
- The family has a reliable source of income.
- The family’s annual income is not less than 30% of the annual median income of Hamilton County.
- The family’s income is adequate to make the monthly mortgage payment while also meeting their other debt and living expenses.
- The family may not have excessive collections or outstanding judgments that would prohibit their ability to sign a mortgage.
WILLINGNESS TO PARTNER:
- The family is committed to being a full partner in the construction of their home
- The family understands Habitat’s “sweat equity” requirements (350 hours) and is willing to fulfill it.
- The family agrees to participate in homeowner education classes that prepare them for successful and sustained homeownership.
Habitat for Humanity of Greater Chattanooga Area is a nonprofit, ecumenical Christian housing organization that has been building simple, decent and affordable homes in Chattanooga, Tennessee, since 1986. Habitat for Humanity of Greater Chattanooga Area partners with volunteers and low-income families to build affordable housing. The houses are sold to these families at no profit and with no interest. Homebuyer’s monthly payments support the construction of additional homes. Habitat also operates the ReStore, a building materials resale operation which generates funds for Habitat’s work, while making building materials available to the public at below- retail costs.