Looking for an affordable opportunity to buy a simple, decent home? Lake of the Ozarks Habitat for Humanity would like to help you!
The selection of families who will purchase homes from Lake of the Ozarks Habitat for Humanity will be done by the Family Selection Committee in a way that does not discriminate on the basis of race, sex, color, age, handicap, religion, marital status, or because of all or part of the applicants income is derived from public assistance programs.
Family selection criteria:
1. Your family’s actual housing need based on the suitability of your current shelter.
2. Your income and ability to pay for a Habitat house.
3. Your willingness to participate as a partner with Habitat.
LOCATION OF HOMES:
While the Lake of the Ozarks Habitat for Humanity will build homes anywhere within Camden County, all the homes to date have been built in Camdenton, since six lots have been donated. These lots already had immediate access to water and sewer service. Habitat welcomes donations of property from citizens and will build wherever feasible in Camden County, Missouri (water, sewer, terrain and development costs considered).
BASIC GUIDELINES USED TO QUALIFY FAMILIES IN OBTAINING HOUSING
A. You will be considered for a Habitat home if your present housing is not adequate, and if you are unable to obtain adequate housing through other conventional means. Lack of adequate housing may include problems with: the present structure; water, electrical or sewage service systems; heating system; or failure to meet city property maintenance standards. Also taken into consideration are the number, ages, and the sex of children compared to the number of bedrooms in your present home.
B. The percentage of your monthly income that you currently spend on housing is considered to determine need.You will be required to openly and fully discuss your financial situation with a Habitat interviewer.
C. You must currently live in Camden County. You and your family will be considered if your gross annual income falls between the figures below:
(Based on 2008 HUD figures)
2. ABILITY TO PAY…
Habitat is not a give-away program. Since you will be actually buying your home from Habitat, you must demonstrate your ability to pay the monthly mortgage payment. This payment will include not only the house payment, but also the payment for real estate taxes and insurance.We will help you determine if this payment will jeopardize your ability to meet all your other family financial expenses and obligations.We can also help you develop a budget to determine your eligibility. A $500 cash down payment is required, to be paid between acceptance in the Habitat program and closing on the house. You and your family will have at least 8 months to plan and save for the down payment, which can be paid in installments. There is no interest on the loan for a Habitat home which, typically, will make your monthly house payment less than you are currently paying in rent.
3. WILLINGNESS TO PARTICIPATE AS A PARTNER WITH HABITAT…
A. When selected, you become a “partner family” in the Habitat community. To become a partner family, 150 hours of “sweat equity” must be contributed for the first adult over 18 in the household, and 100 hours for every other adult. Sweat equity is volunteer work constructing your home and the homes of others, and may include clearing the lot, painting, providing food and/or childcare for volunteers, family can receive up to 25 hours by applying time put in on your behalf by friends and relatives who join in the work. This sweat equity requirement must be completed prior to moving into your home.
B. You will be responsible for maintenance and repairs of your house from the time you move into your home.
C. After moving into your home, the Family Support Committee will maintain an ongoing relationship with you. This includes financial counseling and household maintenance education.