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Are you tired of renting?
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You can own a home at 0% interest!
Take the first step toward homeownership by attending an informational meeting:
The next Habitat for Humanity Information meetings will be on
- Tuesday, March 6, 2012 from 6:30 to 7:30 pm OR
- Saturday, March 10, 2012, from 11 am to noon.
You may attend the day / time that is most convenient for you. No RSVP is necessary.
The meetings will be held at the Kokomo-Howard County Public Library Main Branch located at 220 N. Union Street, Kokomo.
MapQuest to Main Branch Library
These informational meetings are for people interested in becoming homeowners. Attendees will learn about the qualifications and requirements of being a part of the Habitat Homeownership Program. Applications will be handed out at the meeting. Completed applications are due back by Saturday, March 17, 2012. For your convenience, we'll be collecting completed applications at PNC Bank downtown from 10 am to noon on March 17, 2012.
For more information call 765 452 2185 or e-mail hfhkokomo@gmail.com.
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Selection Criteria:
Families are selected based on level of need, willingness to 'partner' with Habitat and ability to repay the loan.
Habitat for Humanity of the Kokomo Community, Inc. selection procedures are non-discriminatory.
Those who are selected for the Habitat program are called a Partner Family. This term denotes the common goal of Habitat working together with the family to build not only a home, but a better tomorrow.
Most of the labor needed to build the homes is done on a volunteer basis.
People from the community, businesses and churches come together with the families to help better our community. The family that the home is being built for is required to help in the building process by investing sweat equity hours. The purpose of the sweat equity hours is not only to help reduce the cost of home, but more importantly to develop pride of ownership.
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Income Guidelines:
Family income must fall in the following ranges based on family size. Income is "gross annual income" and may come from a variety of sources, including wages, disability, child support, as well as other sources. Upper limit is 50% of the median income for Howard County. Lower limit is either $14,900 or 30% of the median income for the county.
Gross monthly income:
| Family Size |
Minimum |
Maximum |
| 1 - 2 |
$14,000 |
$2,075 |
| 3 |
$1,400 |
$2,330 |
| 4 |
$1,550 |
$2,590 |
| 5 |
$1,680 |
$2,800 |
| 6 |
$1,800 |
$3,008 |
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Ability to pay:
- Total long term debt / income ratio of at most 42%
- Some recent verifiable on-time payment history (credit card, loan, rent, or utilities)
- In cases where present monthly rent is less than $350, payments toward debt or savings in the amount of the monthly difference.
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Willingness to partner:
- Attends orientation session
- No bankruptcy one year prior to application
- Works out 18-month payment plan for all outstanding collections and judgments
- Works 250 hours of volunteer Sweat Equity hours per adult in household
- Takes Home Management Resources class after selection
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Need for housing:
A home visit is completed to evaluate housing need. The neediest applicants will be selected from those who qualify through the ability to pay and willingness to partner criteria.
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