|
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. follows are non-discriminatory
policy. Those who are selected for the Habitat program
are called a Partner Family; a term denoting 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 primarily to develop pride of ownership.
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
Current Income Requirements based on HUD data
for Howard County:
* Minimum gross monthly income
required to translate to an adequate monthly house payment
to cover taxes, insurance and principal.
|
Family
Size
|
Minimum
|
Maximum
|
|
1-2
|
$1,400* |
$2,075 |
|
3
|
$1,400 |
$2,330 |
|
4
|
$1,550 |
$2,590 |
|
5
|
$1,680 |
$2,800 |
|
6
|
$1,800 |
$3,008 |
ABILITY
TO PAY
• Total long term debt /
income ratio <= 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.
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 volunteer Sweat Equity
hours per adult in household
• Take Home Management Resources class
after selection
NEED
FOR HOUSING
A home visit
is done to evaluate housing need; the neediest applicants
will be selected from those who qualify through ability to
pay and willingness to partner criteria. |
