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Application Requirements

  • Complete Twin Cities Habitat for Humanity’s Homeownership Program
  • Meet our Income Eligibility Guidelines
  • Be a first-time Homebuyer (haven’t owned a home in the past three years; owners of manufactured homes are eligible)
  • Currently live in the 7-county metro area
  • Purchase a primary residence


Underwriting Requirements for Approval

  • Preferred credit score of 620 – Credit scores between 580-620 or invisible/no credit acceptable with alternative credit documentation
  • Closing Costs & Savings Requirement:
    • $3,000 homebuyer contribution to closing costs (Habitat pays additional closing costs)
    • Savings Requirements $1,500 in savings for estimated first year insurance premiums (prepaid prior to closing)
    • $1,800 in additional savings (accessible at loan application through closing)
    • Gift funds allowed.
  • Total monthly debt payments no more than 13% of gross monthly income
  • No outstanding liens or judgments
  • Six months at current job with two years of continuous employment history for full-time jobs. Two years at current position for part-time and self-employed workers.
  • Minimum of two years since bankruptcy, with 24 months of re-established credit
  • Minimum of three years since foreclosure or short sale
  • Maximum of $1,000 in outstanding collections ($3,000 maximum if medical collections)
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Mortgage process. 1) Sign purchase agreement. 2) Mortgage application - Complete your mortgage application with our Community Loan Officer. 3) Early Disclosures Meeting - Learn about your mortgage and sign early disclosures. 4) Underwriting Process & Decision - Review of mortgage application, appraisal and completion of verifications. Once this is completed, the underwriting decision is made, which informs you whether or not you are approved. 5) Closing - Sign Mortgage! Sign mortgage documents and get keys to your house.

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Are you ready to get started with the Homeownership Program?


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Want to know more about Habitat's Homeownership Program?

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