Homeownership Program

Homeownership Program is a grant for homebuyers in Savannah, Georgia. Coastal Empire Habitat for Humanity (Habitat Savannah) is a Habitat for Humanity affiliate building and selling affordable homes to low-income partner families in the Coastal Empire (Bryan, Chatham, and Liberty Counties) of Georgia. Partner families must live or work in the Coastal Empire for at least 12 of the preceding 24 months, be U.S. legal residents, demonstrate need and fiscal readiness, and partner with Habitat through a home-site visit, sweat-equity labor, and homebuyer education courses. Habitat originates an affordable first mortgage (below-market interest, payment capped at ~30% of income) and takes a soft second mortgage for the appraisal gap. Income must fall between 35% and 80% AMI for Chatham County. Applicants out of Chapter 7 bankruptcy at least 5 years or Chapter 13 at least 1 year. Family Selection Committee reviews and recommends families to the Board of Directors. This is a homeownership program with built-in DPA-style subsidies (categorized in this database as 'Both' DPA + 1st-mortgage origination). Habitat for Humanity affiliate Coastal Empire Habitat for Humanity builds and rehabilitates homes and sells them to qualified low-income partner families using a Habitat-originated affordable mortgage (historically 0% interest, capped at no more than 30% of household income for PITI). Includes hands-on partnership: home site visit, sweat-equity hours, and required homebuyer education courses. Below-market mortgage structure functions as substantial built-in down payment assistance and gap subsidy. Funding comes from Habitat for Humanity International / Coastal Empire Habitat for Humanity (charitable donations, ReStore proceeds, volunteer labor); supplemented by HUD HOME, CDBG, FHLB Atlanta, and other grant sources.

Homeownership Program is structured as a grant, so it is not repaid. Repayment is triggered by Sale, transfer of title, refinance, or failure to occupy as primary residence triggers repayment of the Habitat first mortgage and recapture of any soft-second appraisal-gap mortgage. Standard Habitat affordability covenants typically run for 30 years (length of first mortgage). The assistance is recorded in 1 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Family must demonstrate need; current housing must be substandard, overcrowded, unaffordable, or inadequate. Bankruptcy look-back: 5 years out of Chapter 7; 1 year out of Chapter 13. On credit, the program states: No published minimum FICO. Habitat evaluates 'fiscal readiness' (steady employment, reasonable income, low debt, no recent bankruptcies). A homebuyer education course is required, through Habitat-required homebuyer education courses provided by Coastal Empire Habitat for Humanity. Topics include budgeting, home maintenance, and financial readiness. Residency requirement: Applicant must live or work in the Coastal Empire (Bryan, Chatham, or Liberty County, Georgia) for at least 12 of the preceding 24 months at the time of application submission. Property is located in the Coastal Empire region. Citizenship or immigration status: Must be a legal resident of the United States. Applicant must live or work in the Coastal Empire (Bryan, Chatham, or Liberty County) for at least 12 of the preceding 24 months at the time of application submission. Must be a legal resident of the United States. Must demonstrate need for adequate, decent housing (current substandard, overcrowded, unaffordable, or inadequate housing). Must demonstrate fiscal readiness with steady employment, reasonable income, and low debt. Must be willing to partner with Habitat for Humanity Savannah by participating in a home site visit, completing sweat-equity hours, and attending homebuyer education courses. Must be dismissed (or out) for 5 years from Chapter 7 bankruptcy or 1 year from Chapter 13 bankruptcy. Family Selection Committee reviews applications and recommends partner families to the Board of Directors.

Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Household income must fall between 35% and 80% AMI for Chatham County (Savannah, GA MSA), per HUD limits. FY2025 80% AMI by household size: 1p $55,800; 2p $63,800; 3p $71,750; 4p $79,700; 5p $86,100; 6p $92,500; 7p $98,850; 8p $105,250. Applicant must show income between 35% and 80% AMI; insufficient income (below 35%) means inability to repay; above 80% disqualifies for Habitat program (referral to other programs). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Homeownership Program caps the purchase price as follows: Sales price equals Habitat's cost basis (construction/rehabilitation cost) which is typically below market value. Habitat takes a soft second mortgage to capture the gap between sales price and appraised value (recoverable on sale). Eligible property types include Habitat-built or Habitat-rehabilitated single-family detached home in the Coastal Empire (typically Chatham County). New construction is eligible. Manufactured homes are not eligible.

Homeownership Program serves homebuyers purchasing in Savannah, Georgia. The program targets specific areas: Coastal Empire region of Georgia: Bryan, Chatham, and Liberty Counties. Most builds are in Chatham County (Savannah).

Applications for Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Applicant submits Application via habitatsavannah.org/application.html. Family Selection Committee reviews based on need, ability to pay, and willingness to partner. If applicant meets minimum requirements, committee schedules a home visit at current residence. Final review and recommendation to Board of Directors. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.