We are operating virtually until further notice: Read the details. Habitat homeowners: Click for support.
 

You're eligible to participate in our Homeownership Program if you meet the following criteria:

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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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Homeownership Program Financial Criteria*

  • Income: Maintain annual gross income within our income guidelines (see chart below) from initial intake to loan application.
  • Credit score: 620+ preferred
    • Options available for those with invisible credit/no credit
  • Debt-to-Income: Monthly debt payments equal to no more than 13% of gross monthly income
    • 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 $1,000 in non-medical collections; less than $3,000 if all collections are medical
  • Savings: $6,300
    • $3,000 closing costs
    • One year homeowners' insurance
    • Approximately $1,800 reserves
  • Employment: Minimum of one year at current job, two years if self-employed
  • Bankruptcy: Minimum of two years since the bankruptcy, with two years of re-established credit and no late payments or default
  • Foreclosure/Short Sale History: Minimum of three years since a foreclosure or short sale
Not eligible yet? See if our Financial Coaching Program is right for you >>

*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. Qualifying for the Homeownership Program does not mean you will necessarily qualify for a mortgage through TCHFH Lending, Inc. If you are determined to be "mortgage-ready", you would go through a mortgage pre-approval process with TCHFH Lending, Inc.

Habitat for Humanity Income Guidelines 

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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.

Family Size

Minimum Yearly Gross Income

Maximum Yearly Gross Income

1

$36,949

$55,950

2

$36,949

$63,900

3

$36,949

$71,900

4

$36,949

$79,900

5

$36,949

$86,300

6

$36,949

$92,700

7

$37,154 $99,100

8

$39,551 $105,450

9

$41,948 $111,850

10

$44,345 $118,250
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Ready to take the first step?

If you're ready to take the first step toward homeownership with Habitat, please complete our form. 

 

 

GET STARTED
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Not ready yet?

Consider our Financial Coaching Program to get mortgage ready, or work with one of our referral partners to prepare for Habitat homeownership!

Click here to view our Financial Coaching Program Criteria. 

 

VIEW PARTNERS