Selection Criteria   Milwaukee Habitat for Humanity is accepting applications for single-family homeownership May 1 - June 30, 2008… (See the red section below for the dates of our upcoming information sessions; you must attend one before applying.) Are you a first-time homebuyer? Do you need decent, affordable housing? Do you have the ability to repay the no-interest mortgage loan provided by Habitat? Is your family willing to be a partner in redeveloping the neighborhood? Program requirements can be downloaded on our Download Page.   Income   Habitat provides the opportunity for home ownership to families who wouldn't, because of income level, qualify for a mortgage with a lending institution. The committee uses HUD financial guidelines looking at incomes that are 30-60% of median. Partnership   Habitat homesteaders put in 500 partnership hours as their "sweat equity downpayment" - working side-by-side with other homesteaders and volunteers on their own or another Habitat House. Homesteaders also demonstrate an ability to manage credit and make timely monthly payments. Principal payments enable us to build and rehab more houses for more families. Family Selection Process   To learn more about the application process, call (414) 562-6100 Ext. 11 between the hours of 8am and 4pm, Monday through Friday. In approving applications, the Family Selection Committee will: 1. Review application and credit report. You should not have any: Judgments or liens against you Student loans in default Pending divorces Bankruptcies filed in the past two years Large amounts of delinquent debt, including back child support Delinquent utility or credit card bills 2. Make a home visit 3. Make a recommendation to the Board of Directors Sale Process   Applicants must complete 200 hours of their "sweat equity downpayment" before a house or lot is assigned to the family. The balance must be completed before occupancy.  (You can go to our Download page to download a map of Milwaukee Habitat homes built or rehabbed through 2005.) Homesteaders buy their Habitat homes. Habitat provides a no-interest mortgage loan which families repay over a 20-25 year period. Homes currently cost between $58,000 to $62,000. Habitat makes no profit on the sale.  Mortgage payments of approximately $450 per month include funds which are held in an escrow account for the payment of property taxes and homeowner's insurance. Principal payments are received as income by Habitat and used to build more homes. Monthly income from principal payments is over $40,000 per month.      Condominiums   In addition to single-family homes, condominium opportunities are also being offered at the Woodlands near 95th and Brown Deer Road.  These 3 and 4 bedroom units sell for around $30,000.    Upcoming infomation sessions  Below is a schedule of information sessions regarding homeownership with Milwaukee Habitat for Humanity.  (No reservations need to be made in advance in order to attend.)  At these sessions, participants will have the opportunity to learn about Milwaukee Habitat for Humanity and our homeownership opportunities, ask questions, and receive an application.  The upcoming information sessions are: Tues., May 13, 2008 King Library 310 W. Locust St. 7-8pm Sat., May 17, 2008 Milwaukee Habitat for Humanity office 3726 N. Booth St. 9am, 10am, 11am Thurs., May 22, 2008 Center Street Library 2727 W. Fond Du Lac Ave. 6:30-7:30pm Tues., May 27, 2008 King Library 310 W. Locust St. 6-7pm Thurs., June 5, 2008 Center Street Library 2727 W. Fond Du Lac Ave. 6:30-7:30pm **No advanced reservations are needed to attend these sessions.    Milwaukee Habitat Homeowner Newsletter Please click here if you would like to view the the current and past issues of the newsletter for existing Milwaukee Habitat for Humanity homeowners.