Homeownership Qualification Guidelines

Habitat for Humanity of North Central Iowa is now accepting homeownership applications for the six county area we serve, Cerro Gordo, Franklin, Hancock,  Winnebago, Worth and Wright. Check out the guidelines below.

You may be able to purchase a Habitat home if you meet the following three guidelines:

Need

You may be able to buy a Habitat home if your present housing is not adequate and you are unable to obtain adequate housing. Lack of adequate housing may include:

• Structural problems
• Water, electrical, or sewage service problems
• Failure to meet city property maintenance standards
• Shortage of bedrooms based on the number, ages, and sex of your children

We also consider the percentage of your monthly income that you currently spend on housing to determine need. You will be required to openly and fully discuss your financial situation with a Habitat interviewer. All information discussed and collected is strictly confidential.

You and your family will be considered if your total income is not over the range of 80% of the median income for our area (see chart). You must reside in our six county area to qualify. 

Family Size	Minimum Income	Maximum Income
1	$18,790	$50,083
2	$21,475	$57,241
3	$24,155	$64,400
4	$26,825	$71,525
5	$28,985	$77,258
6	$31,130	$82,983
7	$33,280	$88,708
8	$35,425	$94,433

Ability to Pay

Since you will be buying your home from Habitat, you must be able to pay the monthly mortgage payment. This payment will include the mortgage payment, the payment for real estate taxes, and property owner’s insurance. We will help you determine if this payment will allow you to meet all of your other family expenses. We can also help you if you need to develop a budget. Habitat for Humanity offers the opportunity to purchase a home through affordable monthly payments based on income.

Willingness to Partner

When selected, you become a “partner family” in the Habitat movement. To become a “partner family” you must complete 250 hours per adult in your family (maximum 500 hours required per family) of volunteer work along with other Habitat volunteers. These hours of “sweat equity” contribution are and must be completed before becoming a homeowner.

Your “sweat equity” may include:

•   Helping with construction of your home and other families’ homes
•   Providing food for volunteers
•   Working in the Habitat office or ReStore
•   Assisting with special events
•   Landscaping
•   Attending budgeting and home maintenance classes

Your extended family and friends can work up to one-half of the “sweat equity” hours for you.

You will be responsible for the maintenance and repairs on your house from the time you move in.

How To Obtain An Application

Habitat for Humanity of North Central Iowa is  currently accepting applications for homeownership. Our application cycle is now open for upcoming opportunities in our six county area, Cerro Gordo, Franklin, Hancock, Winnebago, Worth and Wright. You must reside in our six county area to qualify. If you would like more information, please contact our office at (641) 424-8978 or email us at programs@habitatnci.org

Homeowner Selection

The selection of applicants who purchase homes from Habitat for Humanity North Central Iowa is done by a group of volunteers on the Homeowner Selection Committee in a way that does not discriminate on the basis of race, sex, color, age, disability, religion, marital status, or because all or part of the applicant’s income is derived from public assistance programs.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining because of race, color, religion, sex, handicap, familial status, or national origin.

Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age,(provided the applicant has the capacity to enter into a binding contract): because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Federal Trade Commission, Washington, D.C. 20580.