Homeownership

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FIRST-TIME HOMEBUYER PROGRAM

Habitat for Humanity is a nonprofit organization that helps families build strength, stability and self reliance through homeownership.  Since 1986, Richmond Metropolitan Habitat for Humanity’s (RMHFH), has partnered with more than 300 hard-working families in the area to help them realize their dream of homeownership.

 

RMHFH works with individuals or families that demonstrate a need for housing, the ability to pay a mortgage and are willing to partner with us. Being a good partner is the key to success in our program. We provide support throughout the process through budget mentoring, homebuyer education and setting goals for accountability. Owning a home through RMHFH isn’t just about having a roof over your head; it’s about improving each person’s quality of life, not only with physical surroundings, but also by instilling the sense of pride and responsibility that come with homeownership.

 

Construction or renovation of each Habitat house is a cooperative effort between volunteers, house sponsors and the buyer(s) of the house.  Participating families provide at least 350 hours (called sweat equity) toward building their own and other families’ homes.  With a no-interest, 20 to 30-year mortgage, monthly payments will be approximately $550-$800 per month, plus utilities.  The monthly mortgage payment will include real estate taxes, homeowner’s insurance and a 0% interest principal payment.

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APPLICATION

Applications for newly-built and newly-renovated homes are accepted every March and August.  The application package is available at the ReStore, local libraries, RRHA and online for the entire months of March and August, unless otherwise noted.​

 

 

QUESTIONS? Habitat for Humanity’s Homeownership Program is a partnership between the family and Habitat. Please review the information provided below about the partnership, the application process and qualifications. If you have any specific questions after reviewing the information provided below, please send an email to jpresley@richmondhabitat.org or call 804-232-7001 ext. 115.

 

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PROGRAM QUALIFICATIONS

NEED

Applications are considered if your current housing is overcrowded, substandard, in an unsafe environment, not affordable, in need of handicap accessibility, or the applicant cannot qualify for a traditional mortgage. Applicant must be a first-time home buyer, meaning the applicant cannot have owned a home within the past three years.

 

INCOME

Total yearly household income from all sources of verifiable income.  Please refer to income chart located under “View Available Properties”.

 

CREDIT HISTORY

All collections must be paid or must have a repayment plan that is realistic to accomplish in 12 months or less and /or prior to construction on your home beginning.  All judgments and liens must be satisfied.  Stipulations on bankruptcy and foreclosure apply.

 

SWEAT EQUITY

Sweat Equity is required volunteer hours applicants can obtain through working on your home, the homes of others in our program, working at the ReStore, attending classes and one-on-one budgeting meetings.  Applicants must be willing to partner with Habitat by working 350 hours.

 

QUESTIONS? Please send an email to jpresley@richmondhabitat.org or call 804-232-7001 ext. 115.

 

Equal Housing Opportunity: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin.

Please click the button below for information on our special discount for former military members:

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