South County Habitat for Humanity builds safe, decent, affordable housing in partnership with people in need in Washington County, Rhode Island. This is a powerpoint presentation created to educate potential homeowners about homewonership opportunities with SCHH.

1. HOMEOWNER INFORMATION SESSION 1

2. ABOUT SOUTH COUNTY HABITAT
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3. HABITAT HOUSES ARE:
SIMPLE
~
DECENT
~
AFFORDABLE
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SCHH Homeownership

4. HABITAT HOUSES ARE:
ENERGY
EFFICIENT
ENVIRONMENTALLY
FRIENDLY 4
SCHH Homeownership

5. HABITAT HOUSES ARE:
HANDICAPPED-
ACCESSIBLE
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SCHH Homeownership

6. HABITAT FOR HUMANITY is:
an ecumenical Christian ministry.
We welcome volunteers
and homeowner families
from any faith - or no faith -
who are willing to partner.
DEFINITION: Homeowner families are any
combination of person or persons living as a unit.
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SCHH Homeownership

7. SOUTH COUNTY Habitat Houses
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SCHH Homeownership

8. ABOUT FAMILY PARTNERSHIPS
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9. FAMILY SELECTION CRITERIA
Qualifications Willingness to Partner
 US Citizens/legal residents  Contribute “sweat equity”
 Live or work in  450 hours - couples
Washington County for at  300 hours - singles
least 1 year  Attend homeowner
 Present housing is education courses
substandard and/or:  Agree to Habitat terms
 Housing costs are more  Work with Family Partner
than 30% of income
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SCHH Homeownership

10. GUIDELINES : Ability to Pay
 Monthly debt + mortgage payment
cannot exceed 50% of income
 Steady income past two years
 Down payment of 1% of price
 Reasonable credit rating
 Meet minimum income requirements
(but not exceed the maximum)
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SCHH Homeownership

11. Maximum Income Requirement
Gross Annual Income must fall
between the
Maximum & Minimum
Minimum Income Requirement
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SCHH Overview

12. How much income does
my family need to qualify?
SCHH standard:
60% of Local Area Median Income
Old North Village, Kingston
Family Size 1 2 3 4 5 6
Maximum $31,320 $35,760 $40,260 $44,700 $48,300 $51,900
Minimum $32,120 $32,120 $32,120 $32,120 $32,120 $32,120
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13. Old North Village, Kingston
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14. 99-Year Renewable Land Lease
 Includes typical homeowner
rights and responsibilities
 Fee is about $30/month
 Obligates homeowner to sell house
back to SCHH in exchange for
return of accumulated principal
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SCHH Homeownership

15. 25-year Mortgage
featuring 0% Interest
Monthly payments include:
• Loan principal
• Tax and insurance escrow
• Ground lease fee
• Maintenance escrow
• Other considerations that may apply
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SCHH Homeownership

16. Family Selection Process
 Attend Homeowner Information Session
 Complete Application
 If financially qualified, schedule interview & home site visit
 If selected, get matched with Family Partner
 Attend Homeowner Education Classes
 Perform Sweat Equity & other partnering requirements
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SCHH Homeownership

17. SOUTH COUNTY HABITAT FOR HUMANITY
Building houses, building hope.
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