Habitat for Humanity of Danville Homeownership Program

Habitat for Humanity of Danville Homeownership Program is a first mortgage for homebuyers in Danville, Illinois, administered by Habitat for Humanity of Danville, Inc. Habitat for Humanity of Danville partners with income-eligible families (40%-80% AMI) to construct or renovate homes in Danville/Vermilion County. Families contribute 200 sweat equity hours, attend education, and purchase via a 0% interest 30-year mortgage capped at an affordable payment. 0% interest 30-year mortgage. Payment capped at affordable level. No cash down payment required. Homeownership education included. Funding comes from Habitat for Humanity of Danville private/nonprofit.

Habitat for Humanity of Danville Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Danville, Inc.. Repayment is triggered by Sale, transfer, or refinance. The assistance is recorded in first position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of Danville 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: Displaced homemaker; single parent who only owned with former spouse; owned only non-code-compliant property. On credit, the program states: Credit review; no unpaid collections over $1,000. A homebuyer education course is required, through Habitat for Humanity of Danville workshops. Residency requirement: Lived or worked in service area (Vermilion County) for at least one year. Citizenship or immigration status: U.S. citizen or permanent resident. Must not have owned home in past 3 years (limited exceptions); no unpaid collections over $1,000; no bankruptcy/evictions/foreclosures within 3 years; 200 sweat equity hours. Income dollar limits shown as image; phone not published.

Habitat for Humanity of Danville Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of Danville Homeownership Program caps the purchase price as follows: Homes priced based on affordability; payment capped at 30% of gross monthly income. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity of Danville Homeownership Program serves homebuyers purchasing in Danville, Illinois.

Applications for Habitat for Humanity of Danville Homeownership Program go through Habitat for Humanity of Danville, Inc., which publishes the current terms and the application steps on its own site. Funds are reserved through Interest list; applications opened publicly when ready. 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.