Habitat for Humanity is breaking the cycle of poverty in our community through access to affordable homeownership.
We build homes in partnership with low income, hardworking families in our community. Habitat raises funds and families invest 500 hours in the construction of their home. Families then repay a 0% interest, no down payment, geared to income mortgage to Habitat over time.
These mortgage payments cycle back into our Fund for Humanity and support future builds- allowing us to offer a hand up to more local families in need of safe, decent, affordable homes. Habitat Homeowner Selection Partner Family applications are evaluated using three basic criteria: Level of need- Are current living conditions unhealthy, unsafe or unaffordable? Is the family under-housed? Willingness to become partners in the program- Future homeowners contribute 500 hours of Sweat Equity, share in the labour of homebuilding, and participate in valuable training and preparation sessions.
Families may work on the build site, in the ReStore, or supporting the ‘behind the scenes’ work of Habitat in our community. Up to 150 hours may be completed by extended family and friends. Families are asked to embrace opportunities to promote the work of Habitat in the media, acknowledging that the most effective way to raise support for the work of Habitat is to share the direct impact on a local partner family.
Ability to Repay (the no down-payment, geared to income, interest-free mortgage)- at Habitat for Humanity we set families up for success. We partner with families whose income levels are at or below Statistics Canada’s Low Income Cut Off (LICO) guidelines for the current year, and at or above the minimum required to repay the 0% interest, geared to income mortgage within 25 years (based on current market values).
To ensure a family is able to meet the financial obligation of a Habitat Mortgage, without imposing an unrealistic burden on family finances. If debt load is high, a family may be encouraged to get their debt under control and to reapply in future build years. To help you determine family eligibility, please use the chart below as a starting point: Minimum Income Max. Income (LICO Guidelines): 24,053.32 2 persons 25,903.35 3 persons 31,845.62 4 persons 38,665.86 5 persons 43,853.52 6 persons 49,459.61 7 persons 55,069.55 If your family situation fits with these basic criteria we strongly encourage you to make an application to Habitat’s Homeownership program.
You can apply online at http://www.habitatsault.ca/index.php/what-we-do/own-a-home or contact our Family Services Team at 705-942-7443 x25