Habitat NYC strives to make homeownership affordable for more New Yorkers.

Habitat provides a hand up, not a hand-out, meaning we’re in active partnership with the families accepted into our program.

Requirements for
Habitat Homeowners

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

Step 1

Attend an information session. (Optional)

Step 2

Submit your application with all supporting documents.

Step 3

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.

Step 4

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 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.

Monthly Credit Workshops provided by our partners help give prospective homebuyers the chance to improve their financial standing, eventually helping them to become homeowners.

Monthly Credit Workshops

Our partners provide free Credit Workshops to prepare future applicants for the Habitat NYC Home Purchase program. These credit workshops are held monthly and are open to the public.

The workshops cover general credit eligibility for the Habitat NYC Home Purchase program and one of the following sub-topics are also explored each month:

  • Credit Delinquencies: Collections, Charge-Offs, and Public Records
  • Reducing Debt/ Improving Debt-to-Income Ratio
  • Managing Student Loan Debt

HOME PURCHASE PROGRAM FAQs

What makes Habitat NYC homes affordable for low-income families?

•  Community, faith, and corporate sponsorships
•  Individual donations
•  Volunteer labor
•  Government grants
•  “Sweat equity” hours contributed by future homeowners
•  An affordable mortgage product

How can I obtain a homeownership application?

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.

Are there income requirements?

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.

What will be my cost for housing?

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.

What is “sweat equity”?

“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.

How are homebuyers selected?

Habitat homebuyers are selected based on ability to pay, willingness to partner and their housing need.

Does my credit have to be perfect?

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.

HUD-established Income Guidelines*

Household size – Total Gross Household Income Ranges
1: $33,400– $53,450
2: $38,200 – $61,050
3: $42,950 – $68,700
4: $47,700 – $76,300
5: $51,550 – $82,450
6: $55,350– $88,550

*Income guidelines are set by Housing and Urban Development (HUD) and are subject to change.

Thinking about applying?

We hold information sessions at our lower Manhattan office.
Contact us to find a session and reserve your space.

111 John Street, 23rd Floor
New York, NY 10038

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