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Program Criteria

Twin Cities Habitat for Humanity’s Financial Coaching Program offers free one-on-one financial coaching to help you budget, pay down debt, understand credit, and save for the future. This gets you financially mortgage ready for our Homeownership Program where you learn the responsibilities of homeownership through Homebuyer Education and Training.


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General Criteria

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

General Criteria

  • Have lived in Twin Cities seven-county area for at least one consecutive year
  • 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 Criteria*

  • Maintain Annual Gross Income within our income guidelines (see chart below) from initial intake to loan application.
  • Credit score: 620+ preferred
    • Minimum credit score of 580 with financial coaching
    • Options available for those with invisible credit/no credit
  • Collections less than $2,000 unpaid collections; less than $4,000 if all medical collections
  • Less than $1,000 in judgments
  • Monthly debt payments equal to no more than 18% of gross monthly income
  • Two years since discharged from bankruptcy, one year of new credit, with no late payments or default
  • One-year continuous employment, or two years if self-employed

Financial Criteria*

  • Maintain Annual Gross Income within our income guidelines (see chart below) from initial intake to loan application.
  • Credit score: 620+ preferred
    • Minimum credit score of 580 with financial coaching
    • Options available for those with invisible credit/no credit
  • Collections less than $2,000 unpaid collections; less than $4,000 if all medical collections
  • Less than $1,000 in judgments
  • Monthly debt payments equal to no more than 18% of gross monthly income
  • Two years since discharged from bankruptcy, one year of new credit, with no late payments or default
  • One-year continuous employment, or two years if self-employed

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

General Criteria for Our Programs

  • Have lived in Twin Cities seven-county area for at least one consecutive year
  • 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 Financial Criteria

  • Income: Maintain annual gross income guidelines (see chart below).
  • Credit score: 580+
    • Options available for those with invisible credit/no credit
  • Collections: Less than $2,000 unpaid collections; less than $4,000 if all medical collections
  • Judgments: Less than $1,000 in judgments
  • Debt-to-income: Monthly debt payments equal to no more than 18% 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
  • Bankruptcy: Two years since discharged from bankruptcy, one year of new credit, with no late payments or default
  • Employment: One-year continuous employment, or two years if self-employed

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
  • Savings: $6,300
  • Debt-to-income: Total monthly debt payments 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
  • Liens or Judgement: None outstanding
  • Employment: Minimum of one year at current job, two years if self-employed
  • Bankruptcy: Minimum of two years since the bankruptcy, with 24 months of re-established credit
  • Foreclosure/Short Sale History: Minimum of three years since a foreclosure or short sale
  • Collections: Less than $1,000 in outstanding collections ($3,000 maximum if medical collections)

*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 Lening, 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 

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.

Family Size

Minimum Yearly Gross Income

Maximum Yearly Gross Income

1

$36,949

$56,000

2

$36,949

$64,000

3

$36,949

$72,000

4

$36,949

$80,000

5

$36,949

$86,400

6

$36,949

$92,800

7

$37,200

$99,200

8

$39,600

$105,600

9

$42,000

$112,000

10

$44,400

$118,400

Ready to take the first step?

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

 

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