Homeownership

About Our Program

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Habitat for Humanity is a non-profit organization that builds houses with the help of their partner families, volunteers and local labourers using donations from individuals, groups and organizations. Habitat offers partner families no-interest mortgages which makes the cost of living in their home very affordable. Qualifying families will participate in an selection process by the Family Selection Committee where: need, ability to pay for and maintain the house, and willingness to partner are considered. Those that qualify must submit a cover letter, credit report, home owners application, expenses, and employment verification if they wish to begin the application process. Habitat for Humanity strongly believes that everyone deserves a safe, decent, and affordable place to live and with the cooperative efforts of partner families, volunteers, and professional trades people, we hope to end the cycle of poverty.

How to Qualify

If you or a family you know have ever dreamed of purchasing your own home but do not qualify for a traditional mortgage, you may be eligible for an interest free mortgage from Habitat for Humanity Moncton Area.

If you can answer yes to the following 5 questions, you could be one step closer to pre-qualifying!

  1. Do you have a need to move from your current living accommodations (too small, too big, unsafe, unhealthy)?
  2. Do you currently have employment or disability income for at least the past 2-3 years?
  3. Is your family’s total gross income between $35,000 and $60,000 per year?
  4. Do you have an acceptable credit rating (including not having declared bankruptcy within the last 3 years)?
  5. Are you willing to partner with Habitat for Humanity Moncton Area by volunteering 500 hours in building your new home or in the ReStore?

Selection Process

The Family Selection Committee interviews families using the following guidelines:

  1. Need:
    • What are the family’s present living conditions?
    • Can the family afford a house without Habitat’s assistance?
    • Does the family’s total income fall within the low-income guidelines?
  2. Ability to pay for the house:
    • A partner family must be able to afford the house payments.
    • The main family wage earner must have stable employment with one employer for a minimum of 3 years.
    • The total of mortgage, insurance, taxes and utilities should be 30-35% of the family’s monthly gross income.
    • After moving into the house, the partner family is responsible for all mortgage payments, taxes, insurance, utilities and household and maintenance expenses.
    • To meet Revenue Canada requirements, Habitat reviews the partner family’s income annually and adjusts mortgage payments, if necessary.
  3. Willingness to partner:
    • Habitat works closely with each partner family throughout the selection process, during construction, and for at least six months after the family moves into the house.
    • A partner family demonstrates its willingness to partner with Habitat by completing the required 500 hours of sweat equity (volunteer work & construction labour), working alongside other volunteers and qualified trades people, helping to build their own house and other Habitat houses, and working on related Habitat projects.

Application

The following documents must be submitted in order to begin the application process.

  1. Credit Report
  2. APPLICATION JUNE 2017
  3. Expenses
  4. Employment Verification

 

If you have any questions regarding applications or family selection please contact

Chantal Landry, Executive Director
506-384-4663
chantal@habitatmoncton.com