orientation (page 1 of 5)

You are beginning the orientation and application process to purchase a house through Habitat for Humanity Greater Orlando & Osceola County. The orientation should take you 15 minutes to complete. It will take you approximately 15 minutes from the end of the orientation to complete the full application.

Criteria for homeownership

You may be eligible for a Habitat for Humanity Greater Orlando & Osceola County home if you are currently residing in Orange or Osceola County and meet the following 3 guidelines:

  1. Ability to pay an affordable mortgage
  2. Need: Currently in substandard living conditions
  3. Willingness to partner and build your own home

Examples of housing need:

  • Inadequate
  • Overcrowded
  • Transitional
  • Government subsidized
  • Cost-burdened – rent payment exceeds 30% of gross income

Ability to pay: Income & credit requirements

  • You must meet the following income guidelines:

 

Family Size Minimum Gross Monthly Income Maximum Gross Monthly Income
One $3,000 $3,240
Two $3,000 $3,707
Three $3,000 $4,167
Four $3,000 $4,627
Five $3,000 $5,000
Six $3,000 $5,373
Seven $3,200 $5,740
Eight $3,200 $6,113
  • Our calculations are based using gross income and income must be:
    • Verifiable
    • Reliable
    • Likely to last for 3 years
  • Sources of income that are considered include:
    • Employment income
    • Disability income
    • Child support
    • Alimony
    • Social Security
    • SSI
    • Pension
    • Retirement
    • Self-employment (2-year history – must provide 2-year Tax Return and P&L statement)
  • You must meet the debt-to-income ratios
    • The estimated mortgage payment must not be more than 30% of your gross income.
    • The total of your monthly debt payments (including the estimated mortgage payment) cannot exceed 43% of your gross income.
  • You must demonstrate an ability to meet credit obligations
    • Median credit score of 640 as demonstrated on a tri-merge credit report.
      • If there are no scores, documentation of three credit references will be required with no more than thirty days delinquent on two or more regular monthly payments.
      • Have no “non-medical” charge offs on any credit report.
      • More than two years have lapsed on bankruptcies and foreclosure.

For a list of local HUD approved credit counseling agencies to assist you in reducing your debt, visit their website.

To continue with online orientation, please indicate that you understand and agree to the content of this page.