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Thank you for your interest in Habitat’s
Homeownership Program!
We are currently building a 73-unit, townhouse community near
Quakertown in Upper Bucks County. The mid-units are priced at
$115,000; the end units are priced at $132,250.
At this time, we are not accepting applications for homeownership
in Emerald Hollow, but we would be happy to send some information
about the community and how to be included in our database for
future opportunities to apply.
Habitat Bucks does not provide a quick answer to a housing need.
Because of Habitat's complex program, we require potential applicants
to attend an information session prior to filling out an application.
Therefore, only Pre-Application Questionnaires, not applications,
may be obtained by mail throughout the year.
Application Days are held only about once a year. The application
process itself lasts about three to five months; once a family
is accepted, they may wait up to one year until the home is completed.
However, the reward of homeownership is a worthy goal—we
encourage all applicants to be patient and stay motivated throughout
the process.
Habitat Bucks provides two models of homeownership. In addition
to the Emerald Hollow One, or “traditional” Habitat
model, Habitat Bucks also offers an Emerald Hollow Two model. The
family qualifications remain the same for both models; however the
income, mortgage and sweat equity requirements vary. Family
Qualifications for all Habitat Bucks families:
- Currently live or work in Bucks County
- Willing to partner with Habitat Bucks in completing up to
375 “sweat equity” hours and participating in media
coverage
- Have a stable income and satisfactory credit history
- Live in “substandard” conditions
Acceptable income levels for Habitat
families:
Family
size |
EH
One minimum |
EH
One maximum/
EH Two minimun |
EH
Two maximum |
1 |
$23,400 |
$31,210 |
$41,610 |
2 |
$26,750 |
$35,660 |
$47,550 |
3 |
$30,090 |
$40,120 |
$53,500 |
4 |
$33,440 |
$44,580 |
$59,440 |
5 |
$36,110 |
$48,150 |
$64,200 |
6 |
$38,780 |
$51,710 |
$68,950 |
7 |
$41,460 |
$55,280 |
$73,710 |
8 |
$44,130 |
$58,850 |
$78,460 |
*Applications are evaluated
on several criteria, the first being the Housing Ratio:
the expected monthly mortgage amount is divided by an applicant’s
gross monthly income. Typically, a person should not spend
more than 25% to 30% of his or her gross monthly income
on housing costs. Thus, for the purchase of a mid-unit,
priced at $107,750, the qualifying minimum income must be
at least $35,000. For the purchase of an end unit, priced
at $125,000, the qualifying minimum income is $43,000. However,
applicants must also meet the minimum income requirement
based on family size. |
If you are interested in receiving an application for the Habitat
Bucks Homeownership Program, please click below for an Applicant
Questionnaire. Print the form and mail it to our office at 215 Matthews
Avenue, New Britain, PA 18901. If you qualify, we will contact you
regarding the next Application Day. Applicant
Questionnaire | Next Application Day: Summer
2008
[last updated on Mar. 25, 08
by mdm] |
