Every family should have the opportunity to live in decent, affordable housing. However, many working families in our community cannot achieve this by simply working hard. These families are often working two or more part-time, low wage jobs, and after taxes, bring home just $13,926 per year, or approximately $1,150 per month.
More than half of all adults have made at least one tradeoff in the past three years to cover their rent or mortgage, including cutting back on health care, healthy food, or moving to less safe neighborhoods.
The average monthly rent for a home in Muncie is $898. Muncie Habitat’s homeownership program is unique, because in addition to a down payment, and paying an interest-free mortgage, our partner families invest sweat equity into their home as well. The result of this innovative financing is that the average monthly mortgage payment for a Habitat family ends up being $273/mo – for a new, safe, stable home!
Muncie Habitat accepts applications from local families interested in joining the program. This year, 60 applications were submitted to the program! The family selection committee will review the applications, and determine the family’s eligibility based on three main criteria:
A. You have a need for adequate housing.
- Current housing is inadequate or too expensive
- Unable to obtain a conventional mortgage
B. You have the ability to pay the Habitat mortgage.
- Steady income within the guidelines below
- No unpaid liens or judgments
C. You are willing to partner with Habitat.
Fulfill all partnership requirements for Habitat homeownership, such as:
- Complete sweat equity
- Participate in homeowner education classes
- Contribute down payment
- Live where Habitat is working
After each application is reviewed, applicants are notified of their selection status. Applicants that are accepted into the program begin a 12-18 month journey alongside Habitat to achieve their dream of homeownership. Denied applications are encouraged to meet with our team to strengthen their applications for the next processing period.
Generous Habitat supporters and volunteers provide the opportunity for families to flourish through home ownership and rehab programs. Without the burden of rent and high utility bills, families have the opportunity to save their money, invest it in themselves and their children’s educations, cut back working hours to spend more time together, purchase reliable transportation with their improved credit and more – the sky is the limit!
Our supporters understand that this is a life-changing mission, not simply for the specific families, but for the generations that come after them. Every helping hand makes a difference. And now more than ever, your donations can make a difference, too.