Did you know that with a low-interest rate mortgage you can own a home for less than you pay in rent? Milwaukee Habitat offers affordable brand new and completely rehabbed homes for qualifying applicants. We also offer an Affordable Mortgage Program for families interested in purchasing a home on the open market. If you meet these qualifications, the first step to becoming a Habitat homeowner is to complete an application.
Need for Affordable Housing
To qualify for a Habitat home or a rehab project you must be a first-time homebuyer with inadequate housing. Inadequate housing includes any of the following:
- Too expensive
- Too crowded
- Structural problems with water, electrical or sewage systems
- If you are living in subsidized or transitional housing, such as Section 8, you may qualify.
Ability to Pay
In order to buy a Habitat home, you must demonstrate an ability to pay the monthly mortgage payment. Though your unique finances will vary, a typical mortgage payment is between $500 – $800. This includes property insurance and real estate taxes. When you pay your mortgage every month, that money is recycled to fund new homes and critical repair for future Habitat families.
Your income must fall within 30% to 80% of Milwaukee County’s median income for your family size. We consider all sources of steady income including: alimony, child support (if you have at least three additional years to receive it, and it is consistent), pension, retirement, SSDI, SSI, Survivor’s benefits, and wages. Unemployment, financial aid, TANF, food stamps and W-2 are not considered income for qualification purposes.
All applicants must undergo a credit check. However, we try to evaluate potential partner families on their overall financial health, rather than just a number in your credit report. We may consider unpaid court judgments, and collections totaling less than $500, however, they must be paid prior to house completion. For clients that have filed bankruptcy, it has to be two years after discharge in order to apply.
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Willingness to Partner: Sweat Equity
You may have noticed we use the word “partner” quite a bit. What does it mean to “partner”? When you join the Habitat homeownership program as a partner family, you will complete “sweat equity” instead of paying a down payment. This means you will contribute hundreds of hours of work in the construction of your home and the homes of your neighbors.
Sweat equity provides the opportunity to learn construction skills, get to know your neighbors and the community you will join once you move into your new home. Home maintenance and financial education classes will help you prepare for the unexpected and begin the transition from renting to the responsibilities of homeownership.
*Sweat equity not required for families in the Affordable Mortgage Program
Interested? This is your next step:
The first step to become a Milwaukee Habitat homeowner is to complete this virtual homeowner orientation. In the orientation you'll learn more about qualifications, benefits of Habitat homeownership, and the application process. It will take 25 minutes. Click the "Complete Homeowner Orientation" button below and register with your information to gain access.
After completing the virtual homeowner orientation video, please complete an application.
Return application with copies of required documents to:
Milwaukee Habitat for Humanity
Attn: Mirella Reyes
3726 N. Booth St., Milwaukee 53212
Or email to: firstname.lastname@example.org
Applications may be mailed, emailed or dropped off in our mail slot to the left our main entrance. Due to the COVID-19 outbreak, our offices are currently closed to the public. Please enclose copies of required documents as they will not be returned.
We are pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.