Habitat for Humanity of Evansville Homeownership Program

Habitat for Humanity of Evansville Homeownership Program is down payment assistance for homebuyers in Evansville, Indiana, administered by Habitat for Humanity of Evansville. Habitat for Humanity of Evansville helps income-qualified households (at or below 80% AMI who don't qualify for traditional financing) buy a newly built Habitat home in Vanderburgh or Posey County, financed with a 0% APR, 25-year mortgage (about $625/mo for a 3-bedroom) sold at appraised value. Buyers complete 300+ sweat-equity hours, pay $1,500 toward closing/first-year insurance, and attend a six-month money-management seminar. 0% APR mortgage. 25-year fixed term. ~$625/mo for a 3-bedroom. Newly built home at appraised value. Includes major appliances. No-profit loan for those who don't qualify conventionally. Homeownership education & money-management mentoring. Funding comes from Habitat for Humanity of Evansville (volunteer labor, sponsors, no-profit loans).

Habitat for Humanity of Evansville Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Evansville. 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 Evansville Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No minimum credit score (score not used). Disqualifiers: liens/judgments owed, non-medical collections owed, bankruptcy within last 4 years, or felony with sentence/probation completed less than 3 years ago (7 years if two+ unrelated felonies). A homebuyer education course is required, through Habitat for Humanity of Evansville (homeownership workshops; six-month money-management seminar with a Budget Partner). Residency requirement: Must be willing to live where Habitat is building (Vanderburgh or Posey County). Serves Vanderburgh and Posey Counties. Application via DocuSign (credit-check form, Family Selection Committee home visit, partnership). Need-for-housing criteria apply. Not confirmed (left blank): exact assistance amount, max purchase price, DTI, recapture/resale formula, funding cap, reservation system, employment history, citizenship.

Habitat for Humanity of Evansville Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Household income must not exceed 80% AMI by household size (and meet a low-income floor). 2026 guidelines Low-High annual: 1p $22,800-$52,100; 2p $26,050-$59,550; 3p $29,300-$67,000; 4p $32,550-$74,400; 5p $35,150-$80,400; 6p $37,750-$86,350; 7p $40,350-$92,300; 8p $42,950-$98,250; 9p $45,550-$104,200; 10p $48,150-$110,150. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 10. 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 Evansville Homeownership Program can be used for Single Family. New construction is eligible.

Habitat for Humanity of Evansville Homeownership Program serves homebuyers purchasing in Evansville, Indiana.

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