HOW TO BECOME A HABITAT FOR HUMANITY BRAMPTON HOME OWNER 

Habitat for Humanity homeowners take a big step when they become a partner. They make a commitment to maintain their home, repay a mortgage to the organization and they find their lives and their families are transformed as a result. Families who will own and occupy a habitat house are a part of a complex selection process that is designed to be objective and non-discriminatory.

We select families based on three specific criteria's:

• Need 
• Ability to pay 0% interest mortgage
• Willingness to partner with Habitat Brampton 

NEED

Habitat homeowners are chosen based on their level of need. This includes but is not limited to inadequate living conditions such as poor structure, cost, safety, size and a high ratio of shelter expense to total income.

Facts for consideration:

• The household does not qualify for homeownership through conventional financing
• The household must fall within Habitat for Humanity Brampton's criteria's.
• AND at least one of the following need-related factors must also be true:
  • The household is extremely “cost-burdened” (defined as spending 30% or more of the income for housing)
  • The current house has defective physical conditions
  • The current housing is overcrowded 

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ABILITY TO PAY

A Habitat homeowners must be able to take on an interest free mortgage to repay the original market value of the home.  The mortgage represents the independently appraised fair market value of the home at the time of sale.  If your family income increases or decreases, so will your monthly mortgage payment.  Based on an annual review the payments then go into a revolving building fund which allows Habitat for Humanity Brampton to recycle the money to build additional simple, decent homes for other families in our community.  

Acceptable Sources of income that are considered in the review include (verification of amount claimed will be required): 

• ­Employment income
• Spousal and child support
• Pensions
• Disability payments (ODSP)

Unacceptable Sources

• Employment insurance and social assistance payments will not be considered for income calculations

Facts for consideration:

• ­There is a reliable source of income
• The annual income meets the minimum income requirements to own and maintain a home, and does not exceed the maximum requirements.
• The annual income is adequate to make the monthly principal and property tax payments while also meet in their debt expenses. This is defined as debt that does not exceed Habitat’s criteria (Habitat housing cost plus debt repayment)
• A credit history is shown to be free of liens and judgments that would prohibit the ability to sign a mortgage and have demonstrated history of making payments on time.

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WILLINGNESS TO PARTNER

Habitat homeowners must be willing to partner with Habitat for Humanity Brampton.  You would be required to complete 500 hours of “sweat equity”.  The term “sweat equity” refers to actual hands-on involvement of partner families in the construction of their own home, as well as participation in other Habitat Brampton community activities.

 Facts for consideration:

• ­The family is committed to being a full partner in the construction of their home
• The family understands Habitat’s “sweat equity” requirement and is willing to fulfill it
• The family agrees to participate in education sessions focused on various aspects of homeownership.

STEPS TO BECOMING A HABITAT PARTNER FAMILY

• Attend a Family Home Ownership Information Session
• Submit pre-application form
• Pre-qualify potential families
• Submit comprehensive application form
• Identify potential family
• Home visit and interview
• Create family partnership

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HABITAT HOME OWNERS ARE SUPPORTED IN MANY WAYS

• Home ownership training
• Financial training
• Regular visits – before and after you move into your home  

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 READ ABOUT

• Our Habitat for Humanity Brampton Families 
• Building Families
• BUILDS – Current, Past, Future, Building Green