Richmond Metropolitan
Habitat for Humanity
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Homeowners
orientation: Community Partners Consumer Debt and Counseling Services Taking a small step today will take you a long way tomorrow. No matter what your financial situation is, relief is closer than you may think. Our “Mission” is to be proactive and reactive to a consumer obtaining financial wellness and guiding them through troubled times. You don't have to wait another day - we're here to help you get started now.
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HOMEOWNERS
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Home…a simple word that can mean so much to each of us: stability, family, warmth, and love. Although many dream of owning a house someday, decent, affordable housing is hard to find. Richmond Habitat is a homeownership program that works in partnership with low-income, hard-working families to provide them the opportunity to build and purchase their own home. Richmond Habitat is not a give-away program. We build alongside
those who demonstrate need and a willingness to partner with us.
Habitat families are unable to afford a traditional mortgage,
but are willing to invest at least 350 hours of their own “sweat
equity” labor into building their house and the houses of
other Habitat families. The process to become a Habitat homeowner
takes approximately 18 months. In addition partner families pay
a monthly mortgage. Through Richmond Habitat, you can make your
dream of homeownership a reality. |
How
Does The Homeowner Application Process Work? Richmond Habitat seeks working families with decent credit who are living in severely overcrowded conditions or in substandard dwellings as partners in our homeownership process. Many Richmond Habitat homeowners previously lived in housing projects in very high crime neighborhoods. Our homeowners are municipal employees, health care workers, police officers, teachers’ aides, janitors, heavy equipment operators, clerks. The average Richmond Habitat homeowner family earns 30% to 60% of area median income, far below what is needed to qualify for a conventional mortgage. While average rents in the greater Richmond metro area exceed $800 per month, the average mortgage payment for a Richmond Habitat family ranges from $250 - $500, including escrowed taxes and insurance. As a social service provider, we support our families before, during, and after the purchase of their homes. We provide this support through workshops, advocacy, and one-on-one interaction. Richmond Habitat serves approximately 580 families annually through direct and support services. Once accepted in our program, Habitat Homeowners are expected to attend a series of educational workshops, including sessions on budgeting, predatory lending and home maintenance. In addition, they are required to put in 350 hours of “sweat equity” into the building of their home. The success of our program is seen when our partner families complete required homeownership preparation classes and sweat equity on houses under construction, and are able to move to decent housing in safe neighborhoods. If your family, or a family you know, is in need of decent housing, we encourage you to attend a homeowner orientation to learn more about the Habitat homeownership application process. Homeowner orientations are held on the 3rd Saturday of every month at 10:00 a.m. at St. John United Church of Christ located at 503 N. Lombardy St. (corner of Lombardy & Monument Ave. at Stuart Circle).
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