Calhoun Cleburne Habitat for Humanity Homeownership Program

What is Calhoun Cleburne Habitat for Humanity Homeownership Program?

Calhoun Cleburne Habitat for Humanity Homeownership Program is down payment assistance for homebuyers in Oxford, Alabama, administered by Calhoun Cleburne Habitat for Humanity.

• Calhoun Cleburne Habitat for Humanity provides affordable homeownership in Calhoun and Cleburne counties to families who would not normally qualify for a conventional mortgage, offering a 30-to-35-year zero-interest mortgage with payments of ~$450/month including insurance and taxes. Homebuyers invest sweat equity (275 hours single / 550 combined) plus required homeowner education; process takes ~9-12 months.
• Zero-interest 30-to-35-year mortgage.
• Affordable payment ~$450/month incl. insurance and taxes.
• Builds equity via sweat equity.
• Homeowner education workshops.
• Veterans Build option.
• Funding comes from Calhoun Cleburne Habitat for Humanity (nonprofit); mortgage payments recycled into building more affordable homes.

Do you have to pay it back?

Calhoun Cleburne Habitat for Humanity Homeownership Program is down payment assistance and is repaid under the terms set by Calhoun Cleburne Habitat for Humanity.

• Repayment is triggered by Affordable 30-to-35-year zero-interest mortgage; monthly payments approximately $450 including homeowner's insurance and property taxes.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Calhoun Cleburne Habitat for Humanity Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Calhoun Cleburne Habitat for Humanity Homeownership Program sets its income limit as follows: Total annual household income must not exceed Habitat's limit for the applicant's family size (low-income households who would not qualify for a conventional mortgage). Specific dollar limits not published on site.

• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 6.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Calhoun Cleburne Habitat for Humanity Homeownership Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Calhoun Cleburne Habitat for Humanity Homeownership Program names veterans among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Calhoun Cleburne Habitat for Humanity Homeownership Program serves buyers purchasing in Oxford, Alabama.

How do you apply?

Applications for Calhoun Cleburne Habitat for Humanity Homeownership Program go through Calhoun Cleburne Habitat for Humanity, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Calhoun Cleburne Habitat for Humanity (homeowner education workshops; personal finance and home maintenance).

2. 2

   Contact Calhoun Cleburne Habitat for Humanity to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.