Financial Coaching Program Criteria

To be eligible to participate in our Financial Coaching Program, you must meet the criteria outlined below.

General Criteria for Our Programs

• Have lived in Twin Cities seven-county metro area for the last 12 months 
• Cannot have owned a home during the past three years (waived for U.S. military members and veterans)
• Owners of manufactured homes are eligible

Financial Coaching Program Criteria

• Income: Maintain annual gross income guidelines (see blue chart below).
• Credit score: 580+
  
  • Options available for those with invisible credit/no credit
• The monthly Debt-to-income ratio is less than 18%  
  • 0.5% of student loans in deferment or forbearance will be counted in the monthly debt payments. Ex: if you owe $40,000 in student loans, $200 will be counted in monthly debt payments
• Collections: Less than $2,000 in non-medical collections; less than $4,000 if all collections are medical 
• Judgments: Less than $1,000 in judgments
• Savings: No minimum savings requirement
• Employment: Minimum 24-month employment history, with at least six months at current job for full-time jobs. Two years at current position for part-time and self-employed workers.
• Bankruptcy: Two years since discharged from bankruptcy, 12 months of new credit, with no late payments or default
• Foreclosure/Short Sale History: Minimum of three years since a foreclosure or short sale

Financial Coaching Income Guidelines

Twin Cities Habitat for Humanity annually updates our Homeownership Program income requirements based on area market conditions. We reserve the right to revise these guidelines at any time.

*Habitat mortgages are provided through our subsidiary, TCHFH Lending, Inc. Click here to learn more about the requirements that need to be met to qualify for a TCHFH Lending, Inc. mortgage.