In Need of An Affordable Housing Solution?
Are you currently living in substandard or inadequate housing?
Are you willing to partner with Habitat for Humanity in the construction of a new home and promotion of the organization?
Are you seeking housing that will not exceed 30% of your income?
Habitat for Humanity of Wausau may be able to help!
Approved applicants can purchase a home, with a not for profit home mortgage and payments over 25-30 years, including taxes and insurance.
Eligible income limits are between $25,450 - $57,600 based on family size.
Each application reviewed on a case by case basis.
Call us at 715-848-5042 to find out more:
Guidelines for Family Selection
1 - Applicants must be United States Citizens or Permanent Resident Aliens and should be residents of the greater Wausau area for at least one (1) year.
2 - A family unit or household shall consist of a single person or couple, and their children, and/or immediate relatives. The fact that families within the program may be related, shall not disqualify them from consideration.
3 - The three main criteria for qualification are:
Need for housing: Need for housing shall be determined by evaluating financial and physical factors. A financial evaluation will include income limits, area median income (AMI), household income, and cost-burden analysis. A home visit by a two-person Habitat representative team will analyze the current physical living conditions for serious health challenges, substandard conditions, and overcrowding based on household size.
Willingness to partner: Applicants shall agree to meet all the obligations outlined in the partnership agreement, including but not limited to meeting sweat-equity requirements and participation in educational programs to develop skills in financial stability and home maintenance.
Ability to pay/financial readiness: Assessment of income, assets, debt-ratios and credit will be performed to ensure that each applicant is financially ready for homeownership. The applicant should demonstrate a regular and dependable income sufficient to meet the financial obligation of the new home, including a one-time closing cost payment up to $1,000.00 and monthly mortgage payments, including taxes and insurance, not to exceed 30% of the gross monthly income. Qualifying annual gross income ranges from a minimum of $25,450 to a maximum of $57,600, depending on the size of the household. These amounts are guidelines and are subject to change at any time. Each application will be judged on a case by case basis.
Family Size: 1 2 3 4 5 6 7 8 Min. Income: $25,450 $29,100 $32,750 $36,350 $39,300 $42,200 $45,100 $48,000 Max. Income: $30,540 $34,920 $39,300 $43,620 $47,160 $50,640 $54,120 $57,600
4 - Habitat will not discriminate against any applicant during the credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, for being a public assistance program participant, or for exercising any right under the Consumer Credit Protection Act.