A home builds …..

 Strength – with a little help, you have the potential to stand on your own.

Why be a homeowner?

 Stability – with a decent home, you can remove barriers to opportunity, health, & success

 Self-reliance – with an affordable mortgage, you can save, invest in education, & be more financially stable.

Income Guidelines

Having income within these guidelines does not guarantee eligibility. Applicants must prove their ability to afford the monthly payments and household expenses.

How are our affordable mortgages possible?

 Our program is an opportunity for you to PURCHASE a NEW home!

 Homes are sold to qualified buyers at no profit and with an affordable mortgage loan.

 A 30-year loan, with basically 0% interest over the life of the loan.

 We don’t charge you what it costs us to build a home.

 Your mortgage payment will include PTI:

 Principle (The “principle amount of the loan” is the amount you borrowed and will pay over 30 years.)

 Taxes (City of Memphis and Shelby County)

 Insurance (Homeowners Insurance is required.)

NOTE: Volunteers, faith-based organizations & businesses give their time, money & effort to help you build your home.

* Total payment has been rounded to the nearest dollar.

** For Truth in Lending Act (TILA) purposes, the “Total interest” shown as $2,086.40 includes Earnest Money, Closing Cost, and Credit Report Fee.

Comparison: A Habitat Mortgage vs a Traditional Mortgage

Based

Based on a 30-year traditional mortgage with an annual percentage rate of 7%. (As of June 2023.)

$135,000

$188,473

$321,028

When you buy your home through Habitat – you will obtain a basically interest-free mortgage.

*Numbers rounded to the nearest dollar

**includes financed Mortgage insurance on FHA Loan example

Bedrooms/Family Size

• 3 Bedrooms (1-4 person household)

Examples of HFHGM Mortgage Payments

Approx. Mortgage Payment

• 3 Bedroom = $125,000 total/ $632.00/month

• 4 Bedrooms (4-6 person household)

• 4 Bedroom = $135,000 total/ $660.00/month

• 5 Bedroom (6–8 person household)

• 5 Bedroom = $150,000 total/ $720.00/month

Examples above include Principle, Taxes and Insurance. The payments may also vary based on insurance rate and tax rates.

*The sales price can/may vary based on appraised value.

 We build ADA-compliant, 3-, 4- and 5- bedroom, 2-full bathroom homes that are approx. 1,200 to 1,800 square feet. They can be 1- or 2-story.