Home Ownership
Syracuse Habitat for Humanity builds and/or renovates homes that we sell to first-time homebuyers in our program for no more than 30% of their total household income.
Home Ownership Program
SHFH offers “a hand up, not a hand out.” We do not give our houses away; we sell them through affordable mortgages to low-income families living in substandard housing. There are three main criteria to our homeowner selection. First, their household income must be below 60% of the HUD median income, based on family size. Second, we look at housing need, whether it be more affordable housing, better conditions, or overcrowding. Lastly, the family must be willing to partner; homeowners are required to invest 300 volunteer "sweat equity” hours in labor, as well as provide a $1,000 down payment. All homeowners are required to complete a HUD-approved First Time Homebuyer Course, and SHFH partners with Home Headquarters in Syracuse for this counseling.
Ability to
Pay
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Has a steady income
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Total gross household income meets project-specific guidelines, but is no more than 60% of HUD median income based on family size
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Is a good credit risk and is able to qualify for an affordable home loan through a 3rd party lender
Housing
Need
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Is in need of decent housing
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Currently living in substandard conditions
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Overcrowding
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Homelessness - living with friends or relatives or in temporary housing
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Rental costs are more than 30% of monthly income
Willingness to Partner
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Willing and able to invest at least 300 hours of Sweat Equity - Syracuse Habitat homebuyers help build their homes, as well as take classes and do other work to prepare to be a homeowner.
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Able to pay a $1,000 deposit