#1 NEED FOR HOUSING
- Living in overcrowded housing
- Living in substandard housing
- Being a resident of public housing
- Being unable to secure adequate housing through the private market
#2 ABILITY TO REPAY
- Income: Income must be stable and fall between 30%-60% of HUD Area Median Income.
- Budget: Your mortgage payment ($350/month) should be no more than 30% of your income. Mortgage and other debt combined should be no more than 40% of your income.
- NO DELINQUENT DEBT
- Bankruptcy & Foreclosure: Must wait two years after being discharged and re-establishing good credit
#3 WILLINGNESS TO PARTNER
- Applicants must be willing to perform at least 300 sweat equity (volunteer) hours for first adult and 350 sweat equity hours if two adult applicants.
- Have a commitment to a drug-free community and no serious criminal history
- Applicants MUST be legal U.S. residents
- Attend Partner Family Homeowner Classes and complete Dave Ramsey Financial Peace University.