how to apply for homeownership – chapters

What it means to partner with us

Do you dream of owning your own home? Habitat for Humanity Manitoba may be able to help!

We partner with working, lower income families living in rural Manitoba to help them build and buy their own decent, affordable home through a unique affordable homeownership solution.

• Families purchase an affordable home from Habitat for Humanity Manitoba with a no down payment, no interest mortgage
• Monthly mortgage payments are based on income and are calculated annually, so that families never pay more than 27% of household income on shelter costs.
• As part of their partnership with Habitat for Humanity Manitoba, families contribute “sweat equity” of 500 hours helping build their home, other Habitat homes, or volunteering in the community
• Every family attends financial education workshops to prepare themselves for first-time homeownership.
• As families make their mortgage payments, those dollars stay in the community and are used to build the next Habitat home
• We keep our build costs low through volunteer labour and, as much as possible, donated or reduced-cost building materials and services.

Process

The Habitat Family Selection Committee is a staff-supported group of volunteers that includes people from all walks of life in your community.

Committee members interview prospective families in their homes and communicate with landlords and employers. References provided by the family are checked and family finances and credit ratings are reviewed carefully.

Habitat for Humanity partners with families who are ready for the responsibility and challenges of homeownership, but would not qualify for a traditional mortgage.

Qualifications

Family selection is based on 3 principles:  need, ability to pay, and willingness to partner.

Habitat for Humanity Manitoba reserves the right to make the final decision for acceptance on all applications.  The following criteria are applied to determine eligibility:

1. The applicant must be employed for a minimum of the past two years in the community in which the house will be built. Must be working at time of application.
2. Must be a Canadian Citizen or Permanent Resident of Canada.
3. Must not be receiving income from Employment & Income Assistance (social assistance).
4. Must be ready to live where Habitat is building in the community.
5. Must be willing to complete 500 sweat equity hours prior to house possession.
6. Preference will be given to families with young children.
7. Present housing must be at least one of the following:  too expensive, too small, unsafe, or substandard; applicants cannot currently own a house.
8. Prepared to purchase a home at market value and able to commit to a mortgage.  Monthly mortgage payments (which include property taxes) are 27% of total family income as defined on line 150 of the Canada Revenue Agency (CRA) Notice of Assessment.
9. Total family income as defined on line 15000 of the CRA Notice of Assessment must be less than $90,500. Minimum income to qualify for the program is determined by build project, but is usually $35,500.
10. Must be willing to provide the most recent CRA Notice of Assessment, as well as consent for Habitat to contact references from employer, landlord, and 2 other people who know the family well.
11. Must be willing to provide your last 3 pay statements from all jobs and 2 months of all bank and financial statements, including credit card statements.
12. Must consent to a credit check.
13. Must be at least 3 years since a bankruptcy has been discharged.

To inquire about builds and family application intake in your area, email: [email protected]