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

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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
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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: One-year continuous employment, or two years if self-employed
  • 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
Interested in our Homeownership Program instead? Click here >>
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Financial Coaching Income Guidelines 

Twin Cities Habitat for Humanity annual updates our Financial Coaching Program income requirement based on area market conditions. We reserve the right to revise these guidelines at any time. View the chart in blue below for the most up-to-date requirements. Please note:

*The requirements below are for our Financial Coaching Program only. Click here to view the separate income requirements for our Homeownership Program. 

*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.

Family Size

Minimum Yearly Gross Income

Maximum Yearly Gross Income

1

$36,949

$62,600

2

$36,949

$71,550

3

$36,949

$80,500

4

$36,949

$89,400

5

$36,949

$96,600

6

$38,889

$103,750

7

$41,571 $110,900

8

$44,253 $118,050

9

$46,935 $125,150

10

$49,617 $132,300
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Ready to take the first step?

If you're ready to take the first step into the Financial Coaching Program, please complete our form.

 

GET STARTED
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Not ready for our program?

Work with one of our referral partners to prepare for Habitat homeownership!

VIEW PARTNERS