The applicant(s) must demonstrate that their current housing situation has one or more of the following characteristics:
- Unsafe or very poor conditions or located in a particularly unsafe area;
- Rent, or contribution currently paid towards rent, exceeds 30% of gross income;
- Size in inadequate for the present or anticipated residents;
- Other facts demonstrating a need for the type of housing Habitat can provide, that goes beyond a personal desire to own a home.
Applicants will not be approved if they:
- Qualify for conventional financing
- Presently own real estate
- Have owned real estate within the last three (3) years.
Eligible applicants are not disqualified because they may qualify for another subsidy program, governmental or charitable, or tax deferral.
Ability to Pay
Each applicant must meet the following requirements:
- Gross household income must be between 35% and 60% of the median income for Gila County at the time of application. Click here for 2015 income requirements.
- A two-year history of stable income and employment;
- An acceptable credit history, which includes a good record of paying rent and utilities;
- Bankruptcies must have been discharged for three years;
- Ability to cover closing costs and adjustments around $2,200-$2,500 as a down payment on the house;
- Ability to afford anticipated mortgage payments of around $500/month;
- Must be either permanent residents or citizens of the United States.
Unacceptable Income includes unemployment benefits, food stamps, any temporary state assistance, any temporary employment income, or SSI for dependents.
Willingness to Partner
The applicant(s), must be willing and able to partner with Habitat for Humanity which includes (but is not limited to) the following:
- Applicant(s) must be willing to contribute at least 250-500 hours of sweat equity towards the building of Habitat homes, of which 60% must be completed by each primary applicant, working at least 50 hours per month;
- Applicant(s) must be willing to live in a neighborhood in which Habitat is currently building;
- Applicant(s) must be willing to attend required workshops for success in home ownership.
- Applicant(s) must pass a background check.
- Applicant(s) must grant permission for a home visit.
- Applicant(s) be willing to participate in a Homeowners Association (HOA) and comply with Covenants, Conditions & Restrictions (CC&Rs).
- Must have resided in the Payson Unified School District for twelve (12) months prior to applying.
- Must be unable to obtain or qualify for a conventional housing loan.
- Pay a $25 per applicant fee for credit/background check.
- Sustain a savings account over a specified period of time.