WE ARE OPERATING VIRTUALLY UNTIL FURTHER NOTICE. PLEASE READ THE DETAILS HERE.  HABITAT HOMEOWNERS: CLICK HERE FOR SUPPORT
 

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

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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
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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
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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
  • 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 

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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

$57,904

2

$36,949

$66,176

3

$36,949

$74,448

4

$36,949

$82,720

5

$36,949

$89,338

6

$36,949

$95,955

7

$38,465 $102,573

8

$40,946 $109,190

9

$43,428 $115,808

10

$45,910 $122,426
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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 for our program?

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

VIEW PARTNERS