Homeownership
how to apply
Applications can be picked up at 269 W Main Street, Forest City, NC 28043
Qualifications
Homeownership Qualifications:
You must have lived or worked in Rutherford County for the past twelve months and be: Living in inadequate housing. Such as the house does not have working heat, plumbing or electricity, or there are not enough bedrooms. Willing to partner with Habitat. Being a Habitat homeowner is a lot of work. You must invest at least 300 hours of sweat equity into your house and those of other partner families. Completion of our educational program is also required. Able to pay for a Habitat house. You will repay the mortgage with a 25-30 year, affordable mortgage. We require a demonstrated ability to make payments. Able to pass a Security Screening. Applicants must pass a criminal and sex offender background check.
The income of the applicants whose names will be on the mortgage will be included in the calculation of a family’s total gross income.
Gross income from all wages, SSI, SSDI, housing assistance, retirement, alimony, VA benefits, child support, etc. are included.
ability to pay
Applicants must:
Have a steady, reliable source of income and demonstrated financial responsibility.
The ability to pay a monthly mortgage payment at approximately 30% of gross monthly income (taxes and insurance included)
The ability to pay a projected monthly utility (electric, water, sewer)
NOT have filed for bankruptcy within the past 2 years
NOT have outstanding collections, liens, or judgements that cannot reasonably paid by the completion of the home build
Sweat Equity
Sweat-Equity is when a partner family takes part in building their own home and other Habitat homes and may include activities such as clearing the lot, painting, helping with construction, working in the Habitat office/ReStore, or other approved activities.
You must work a minimum of 300 sweat equity hours.
A portion of the sweat equity hours can be completed by family and friends.
All of the hours must be completed before the partner family can purchase the home.
Applicants must provide documentation of residency and eligibility to work in the US
One Of The following documents is accepted as proof of both residency and eligibility:
US Passport
Permanent Resident Card
Alien Registration Receipt Card (Form I-551)
Foreign Passport with temporary I-551 stamp or temporary I-551 printed notation on a machine-readable immigrant visa
Unexpired Employment Authorization Document with a Photo ID (Form I-766)
Unexpired Foreign Passport with Form I-94
Passport from Federated States of Micronesia or the Republic of the Marshall Islands with Form I-94 or Form I-94A indicating nonimmigrant admission under the Compact of Free Association Between the United States and the FSM or RMI.
Rutherford County Habitat for Humanity is a 501(c)(3) organization. All donations are 100% tax deductible as a charitable gift for federal income tax purposes.
In accepting and rejecting applications, RCHFH must conform to all aspects of the Fair Housing Act and all Fair Housing Laws, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Privacy Act, the Americans with Disabilities Act, as well as any local applicable laws as they apply to applications for a mortgage.