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Effective from March
11th
, 2020
ELIGIBILITY REQUIREMENTS
You must meet the following criteria to be eligible to purchase a home from Habitat for
Humanity of Montgomery County:
I.
NEED
A.
Inadequate Shelter
1.
Inadequate current shelter due to problems with heat, water, wiring, bathroom, kitchen, structure,
neighborhood safety, etc. OR
2.
Inadequate number of bedrooms as determined by the number of persons in household as well as
the age and sex of these household members. For example: a boy and a girl or a teenager and an
infant sharing the same bedroom are considered overcrowding. OR
3.
Living in an unsafe neighborhood. OR
4.
An adult living “doubled up” with parents, friends or relatives.
5.
Financially overburdened: current rent/house payment > than 30% of gross income.
B.
Inadequate Financial Resources
1.
Lack of personal resources to buy or build adequate shelter AND
2.
Not able to qualify for a VA, FHA, conventional or government loan.
II.
INCOME: ABILITY TO PAY (ALL FIVE REQUIREMENTS MUST BE MET)
You must:
A.
Fall within HUD’s income limits guidelines for Montgomery County.
Family Size 1 2 3 4 5
Gross Minimum Income 23,100 23,100 23,100 23,100 23,100
Gross Maximum Income 32,050 36,650 41,250 45,800 49,450
B.
Have a record of consistent taxable income through stable employment or other sources for at
least one year.
C.
Have enough income to pay house payment, insurance and taxes. This generally runs about
$575-$675 a month total. As a homeowner, you are responsible for paying utility bills, home
maintenance, and repairs when necessary. Property taxes are determined by the City of
Conroe and Montgomery County.
D.
Have monthly expenses that do not exceed 45% of your monthly gross income.
E.
All debt obligations, past and present ,will be considered by a committee reviewing a recent
credit history report. The amount of debt allowed will vary. An established credit score helps
support future payment obligations.
F.
Any adult members of the household, 18 and up, require a background check clearance.
III.
WILLINGNESS TO PARTNER WITH HABITAT
You must:
A.
Be willing to build your home with Habitat. This will include contributing a minimum 350 hours of
Sweat Equity. This will be done by a combination of working on houses of other Habitat Partner
Families, taking required classes, working on your own home or at the Habitat MCTX ReStore.
B.
Be willing to meet Habitat’s requirements by making prompt mortgage payments and responding to
requests for information.
C.
Understand and commit to the responsibilities of home ownership.
D.
Demonstrate honesty and responsibility through your credit history, your references, and the
accuracy of information provided on your application.