Be a first-time homebuyer as established by HUD (US Department of Housing and Urban Development)
Provide 1% cash down payment
Have sufficient credit history, with no accounts in collection, no charge-offs, no unsatisfied public records, and no bankruptcies within the last three years.
Fulfill the “sweat equity” component of the program (see below in the FAQ section)
Earn 50%-80% of area median income (AMI) as established by HUD
Establish a monthly savings account
Participate in financial/homeownership education
Show a stable employment history
Attend an information session. (Optional)
Submit your application with all supporting documents.
Eligible applicants will be asked to attend a panel interview conducted by Habitat NYC staff, volunteers and board members. Panel interviews are an opportunity for your family to discuss the program with us.
Approved applicants will complete a partnership agreement and begin earning their sweat equity hours.
We do not have any units available for application at this time.
Please check back or sign up for an information session to learn more about future projects.
We provide our homebuyers with the tools they will need to become successful homeowners. Even once their home purchase is complete, Habitat NYC is there for our homeowners, helping them with legal issues, training co-op boards, creating support and assistance around foreclosure prevention and more.
But we don’t help just our homebuyers.
Prospective homebuyers have the chance to improve their financial standing by working with our financial literacy partners, eventually helping them to become homeowners.
• Community, faith, and corporate sponsorships
• Individual donations
• Volunteer labor
• Government grants
• “Sweat equity” hours contributed by future homeowners
• An affordable mortgage product
We do not always have housing available. When housing becomes available, applications will be posted to our website. You can also pick up an application from our office or call or email us to request one. If you have attended one of our Information Sessions recently, we will email you new applications as they become available.
Gross household income must be between 50-80% of the Area Median Income. Area Median Income guidelines are set by HUD and based on household size (the number of people you plan to have living with you). Guidelines are subject to change.
The term of your SONYMA mortgage product will be 30 years, with a 2% fixed interest rate. Your total monthly mortgage payment, any initial maintenance costs, homeowners insurance and property taxes combined will not exceed 33% of your household’s gross monthly income.
“Sweat equity” is Habitat’s term for the labor that homeowners contribute to building their homes and the homes of their neighbors, as well as the time they spend in financial & homeowner education courses. Homeowners begin working on sweat equity after they are selected as family partners and must complete their hours before they move into their new home. Sweat equity is a keystone of the Habitat program. It is important in our effort to eliminate poverty housing and build communities.
Habitat homebuyers are selected based on ability to pay, willingness to partner and their housing need.
No; however, applications do require a hard pull of your credit report. Credit history and monthly debt obligations of the applicant (not the whole household) will be reviewed. Further details about credit eligibility will be discussed at the Information Sessions.
Household size – Total Gross Household Income Ranges
1: $36,550– $58,450
2: $41,750 – $66,800
3: $46,950 – $75,150
4: $52,150 – $83,450
5: $56,350 – $90,150
6: $60,500– $96,850
*Income guidelines are set by Housing and Urban Development (HUD) and are subject to change.
We hold information sessions at our lower Manhattan office.
Contact us to find a session and reserve your space.