It is the goal of Energy Capital Habitat for Humanity to assist those in Campbell County in need of decent, affordable housing. Applicants to the program are evaluated on three criteria:
- ability to repay an affordable mortgage
- current housing need
- willingness to partner with our organization
The application process can take between 1-3 months. If an applicant is accepted into the Homeownership Program, the process to build and purchase a home can take 9-12 months, depending upon available funding, construction schedules and the completion of required sweat equity.
Future homeowners are required to complete 200 hours of sweat equity as a condition of their partnership with Energy Capital Habitat for Humanity. Sweat equity can take the form of building their home or other homes at the construction site, supporting tasks/events/programming at ECHFH, and serving as an ambassador for the organization within the community.
Habitat homes are sold to applicants for no profit and are financed with an affordable mortgage. The cost of the homes is dependent on the number of bedrooms and current cost of building supplies.
Although credit reports are examined, the determining factor are an individual’s amount of total debt and whether they meet the necessary income eligibility guidelines.
Applicants who have filed for bankruptcy in the past should demonstrate a good credit history since the bankruptcy and bankruptcies must have been discharged at least five years prior to the application for the Homeownership Program.
Future homeowners are required to provide a $500 cash down payment due before closing.
Habitat for Humanity sells homes at the cost of materials and real estate without adding further profit. In addition, Habitat for Humanity provides the funds to purchase the home without added interest. The no-interest mortgage is significant because a loan from a commercial bank adds interest payments, which more than doubles the cost of the home to the buyer over the lifetime of the loan. There is no penalty to the buyer for paying off the mortgage ahead of schedule – though other restrictions may remain in place for the entire original mortgage period.
Habitat for Humanity will select the design of the house based on the lot size and needs of the partner family. Structural modification can be made to accommodate the needs of homeowners or family members.
Habitat homeowners can sell their home at any time. However, Habitat for Humanity has the first right of refusal to ensure the home can continue to serve local families. Furthermore, Habitat homes are deed restricted, which limits their resale value to guarantee the home is affordable at the time of purchase.
Habitat houses are typically built using wood frame construction, Gypsum board interior walls, vinyl siding and asphalt shingle roofs. Homes are modestly sized with the number of rooms depended on the needs of a partner family.
Habitat for Humanity does accept previously convicted felons into the Homeownership Program. It is encouraged, but not required, those individuals include a letter from their probation or parole officer with their application for additional transparency. Habitat for Humanity does not accept registered sex offenders.
In 1976, Habitat for Humanity was founded by Millard Fuller. President Carter has helped spread awareness for Habitat for Humanity’s mission by volunteering with his wife, Rosalynn, on many projects around the world. For over 25 years, the president and his wife have led the Jimmy and Rosalynn Carter Work Project, a weeklong multi-home build held in different locations annually.