Wilson County Habitat for Humanity

Affordable homeownership: pathway to stability and better communities

A shortage of affordable homes challenges those who want to live and work in Wilson County

WHO WE ARE FINANCIALLY* Average American household

Credit card debt: $6,124 Mortgage debt: $197,445 Auto debt: $27,649

Student loan debt: $46,459 * Nerdwallet data as of June 2020

The average monthly mortgage payment in Wilson County is $1,540*

and the average monthly renter pays $1,091 a month*

*RENTCafĂŠ

Homeownership is a pathway to permanent solutions for housing insecurities

Habitat’s current homeowners work at: • Hospitals • Banks • Day Care Centers • Post Office • Retail • Amazon • Hair Dresser • Uber Driver • Nissan North America • Wilson County Finance Office • Churches • Wilson County Schools • City of Lebanon • Nursing Homes

*Ms. Wilson is a third-grade teacher in Wilson County with five years of experience

*Ms. Wilson is a fictional person with real-life data

She is the single mother of two children with a salary of $42,650

In addition to her monthly rent, utilities, groceries and medical expenses, her monthly debts include an additional $500 for a car payment, credit card payment, and student loan

To purchase a home, Ms. Wilson would probably need to apply for a FHA loan. She will need $4,025 for a FHA mortgage downpayment, plus closing costs She can only afford a home that costs $115,000

In Wilson County, the median cost of a home is $316,000*

*Source: Zillow.com

But she could qualify for a Habitat for Humanity home* with three bedrooms, up to $180,000, with Habitat’s 0% APR mortgage with no downpayment

*Qualification is determined through a formal application process.

Habitat’s homeownership program includes classroom instruction to help future homeowners budget for a mortgage, be better neighbors, and maintain their homes

Studies show that growing up in a stable home improves everything from school grades to health and happiness

stable lives...stable families...stable communities

Habitat of Greater Nashville’s homeowners pay approximately $1 million in property taxes annually supporting vital infrastructures that benefit our communities

Habitat’s sustainable homeownership program is possible because of community support

Ways to support Habitat for Humanity • Become a house sponsor • Volunteer on the build site • Golf the Annual Golf Challenge • Attend Houses of Hope • Donate and shop the ReStore

For more information about sponsorships: Tory Tredway at ttredway@habitatnashville.org For more information about homeownership applications: Veronica Mallicoat at vmallicoat@habitatnashville.org

www.habitatnashville.org/wilson

Build better lives and communities with us!