I am interested in your Homeownership Program, how does it work?
Twin Cities Habitat for Humanity Homeownership Program provides affordable homeownership opportunities for first-time homebuyers.
If you meet program eligibility you will work with a Homeownership Advisor to meet mortgage and lending criteria and determine your next steps towards homeownership.
If you decide to partner with Habitat for Humanity you will have the option to purchase a Habitat-developed home, a home that Habitat has purchased and renovated, or use the TruePath Mortgage product to search the Open Market.
There are many advantages to partnering with Twin Cities Habitat for Humanity, and you can find more information by visiting https://home.tchabitat.org/.
I’m ready to apply. How do I get started?
- Complete the eligibility questionnaire.
After you provide your information, you will:
Receive an email indicating if you are eligible to apply for our Homeownership Program or not, and provide any next steps.
If you are not qualified right now, you will be told in the email why you do not qualify. You will also be provided with a list of Referral Partners that can help you address the barriers listed to become eligible for our program.
If you are eligible and want to apply, please review our Application Help page for examples of the documents you'll be required to submit.
Can you tell me more about the required program hours?
Every Habitat homebuyer will contribute hours toward buying their Habitat home. Those hours can be completed through a combination of financial coaching, homebuyer education, the lending process, construction on a new build or Habitat-renovated home, or other volunteer opportunities.
The hours will be required after completing the program and signing on to a property (intent to purchase). They will need to be completed prior to the start of the mortgage process.
If I am accepted, how long does it take to move into my home?
There are many factors that contribute to the timeline from application to move in.
Much of the process is driven by the homebuyer and can vary in time depending on the amount of work that needs to be done to meet mortgage-readiness criteria, the home search, and the mortgage process.
We will process your application within 30 days of submission and verify if you are program eligible. If you meet program eligibility, you will work with a Homeownership Advisor to assess your finances and work towards mortgage-readiness. Time spent working with your advisor to meet mortgage criteria can vary from 1-2 months to over one year. This time varies based on credit and financial stability.
When you meet mortgage-ready criteria, you will be able to choose how to proceed in your homebuying journey. If you decide to move forward with the Habitat for Humanity Homeownership Program, you will have the option of viewing Habitat properties you are eligible to purchase, or working with TCHFH Lending, Inc. for a pre-approval to shop the Open Market.
After completion of the program and identification of the homebuying path that works for you, you will start the home search. Finding the property that works best for you and your family can become a time-consuming process and a major contributor to this time frame.
It is hard to define any time frame for the process from beginning to end because every homebuyer and their situation is unique, but we try to set the expectation that you can be in the program for at least 1 year.
I want to open an in-home daycare. Is this allowed?
Yes, you can open a daycare in a home you purchase with Habitat.
An individual who currently has a daycare run out of their rental home would be considered “self-employed,” which is acceptable within our program guidelines.
I am on Section 8, can I use that with your program?
Twin Cities Habitat for Humanity Homeownership Program provides affordable homeownership opportunities to first-time homebuyers.
Mortgage payments are calculated to not exceed 30% of your income, so Section 8 vouchers can not be used in coordination with the Homeownership Program.