Steps to Homeownership
So you've made it past the first steps and want to know more? Here's what comes next.
Step 3. Schedule a meeting with Habitat staff to evaluate your family’s financial preparedness for homeownership, including credit history, debt, and income. If you do not meet minimum financial qualifications, our staff will create an action plan to help you prepare for homeownership.
Step 4. If you are invited to apply for homeownership, we will gather additional information and documentation needed and submit your application for verification and approval.
Step 5.If your application for homeownership is approved, you will move forward in building and purchasing your new affordable home!
Step 6. If approved, you will begin your homebuyer education classes and 300 hours (minimum) of sweat equity. Sweat equity is an exciting learning experience in which you work with family, neighbors, and friends to build other families’ homes before starting on your own. Hours can be earned on the construction sites, at the ReStore or in the office.
Step 7. After completing half of your courses and half of your required sweat equity, you will be permitted to choose a lot in the community where Austin Habitat is currently building. You will also choose your floor plan, exterior paint colors, and floor and countertop colors.
Step 8. Construction on your home will begin according to a predetermined schedule. We will raise the walls on your house and you will complete your sweat equity!
Step 9. Habitat staff, volunteers, and donors who have been with you every step of the way gather with your family and friends to dedicate your new home!
Step 10. After you close on the house, you move in! Partner families are expected to remain engaged with Habitat’s mission by staying in good communication with Habitat, making timely mortgage payments, and assuming an active role in their neighborhoods and as mentors to new families entering the process.
The application process takes roughly 2-4 months. The sweat equity requirement typically takes 6-12 months. It generally takes about 8 months to a year to complete the entire process, from the date of the application to the house closing. (Timing depends on how quickly the family chooses to work through their sweat equity hours.)