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 home buyer(s).  The entire process typically takes 18 – 24 months. Participating families provide at least 350 hours (called sweat equity) toward building their own and the homes of others in our program, attending classes preparing for successful homeownership and one-on-one budgeting mentoring.  With a no-interest, 20 to 30-year mortgage, monthly payments will be approximately $550-$800 per month, plus utilities.  The monthly mortgage payment includes real estate taxes, homeowner’s insurance and a 0% interest principal payment. Homes are quality newly-built or quality newly-renovated, energy efficient and include a new kitchen appliance package. Appliance package includes; a refrigerator, dishwasher, stove, microwave, and garbage disposal.  Other amenities included; washer / dryer hookups and a heat pump with central air. Most homes will have choice of siding, shutters, flooring(laminate and/or linoleum), cabinets and counter tops from our selections. Habitat is a class A general contractor and meets or exceeds building code requirements for each home we offer though our 0% interest homeownership program.

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Learn About Our Application Process

Our homeownership application and list of properties will be available starting March 2019, as we are currently working diligently to acquire new safe, decent and affordable properties to offer future Habitat Homeowners! In March, the application package will be available here online, at the ReStore, and in or our office unless otherwise noted.​

Take the first 2 steps in the application process before March!

STEP 1:  Click here to see our qualifications checklist!

STEP 2:  If you think you qualify, you can start getting ready for March by reviewing the list of required supporting documents needed to submit with your application in March – Checklist Preview!

 

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.

 

Check back periodically for updates and also follow us on Facebook!

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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:

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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