Marquette County Habitat for Humanity New Home Construction Homeownership Program

Marquette County Habitat for Humanity New Home Construction Homeownership Program is a first mortgage for homebuyers in Marquette, Michigan, administered by Marquette County Habitat for Humanity. Marquette County Habitat for Humanity's New Home Construction program builds simple, decent, affordable homes in partnership with working families who could not otherwise purchase a home. Each adult contributes 250 hours of sweat equity, completes homeownership workshops, makes a $1,000 down payment, and purchases the completed home at cost with an affordable, low-interest Habitat mortgage that includes taxes and insurance. Affordable low-interest mortgage. Home purchased at cost. $1,000 down payment (arrangeable). Homeownership workshops. MSHDA income limits up to 80% AMI. Funding comes from Private donations; volunteer labor; mortgage payments recycled.

Marquette County Habitat for Humanity New Home Construction Homeownership Program is a first mortgage and is repaid under the terms set by Marquette County Habitat for Humanity. 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.

Marquette County Habitat for Humanity New Home Construction Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: No minimum credit score; no outstanding collections, liens or judgments that cannot be paid by home completion; at least 2 years since any bankruptcy. A homebuyer education course is required, through Marquette County Habitat workshops (budgeting, home repair, maintenance). Residency requirement: Must be willing to relocate within Marquette County where build is taking place. Citizenship or immigration status: U.S. citizen or permanent resident. Sold at cost / no profit (low-interest Habitat mortgage; exact rate not published numerically - left null). Each adult must complete 250 sweat equity hours. $1,000 down payment before closing. At least 2 years since bankruptcy. No outstanding collections/liens/judgments that cannot be cleared by completion. Must be willing to relocate within Marquette County. Operates as a Special Purpose Credit Program.

Marquette County Habitat for Humanity New Home Construction Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Total household income from all sources roughly 30-80% of Marquette County median (MSHDA income limits). By household size: 1-person $18,330-$48,880; 2 $20,940-$55,840; 3 $23,550-$62,800; 4 $26,160-$69,760; 5 $28,260-$75,360; 6 $30,360-$80,960. 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.

Marquette County Habitat for Humanity New Home Construction Homeownership Program caps the purchase price as follows: Home purchased at cost; payment includes taxes and insurance. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Marquette County Habitat for Humanity New Home Construction Homeownership Program serves homebuyers purchasing in Marquette, Michigan.

Applications for Marquette County Habitat for Humanity New Home Construction Homeownership Program go through Marquette County Habitat for Humanity, 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.