Passaic County Habitat for Humanity Homeownership Program

Passaic County Habitat for Humanity Homeownership Program is down payment assistance for homebuyers in Paterson, New Jersey, administered by Passaic County Habitat for Humanity. Passaic County Habitat for Humanity (headquartered in Paterson) builds and sells homes to low- to moderate-income families in Passaic County, including Paterson. Homes are sold with an income-based, affordable mortgage (monthly payment must not exceed 30% of gross household income). Eligible applicants must demonstrate need for housing, ability to pay an affordable mortgage, and willingness to partner (contribute 200 sweat equity hours per household). No traditional down payment required — sweat equity substitutes. Below-market affordable mortgage with monthly payment capped at 30% of gross household income. No traditional down payment requirement (sweat equity substitutes). 200+ hours sweat equity required per household. Homebuyer education required.

Passaic County Habitat for Humanity Homeownership Program is down payment assistance and is repaid under the terms set by Passaic County Habitat for Humanity. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Passaic County Habitat for Humanity 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: Must not have owned for at least 3 years. On credit, the program states: Credit used as basis for creditworthiness; bad debt must be less than $1,000 (excluding medical). A homebuyer education course is required. Citizenship or immigration status: U.S. citizen or Permanent Resident required. Must complete 200 sweat equity hours per household. Must not have owned a home in the past 3 years. Bad debt must be less than $1,000, excluding medical collections. Cannot be in bankruptcy (must be discharged at least 3 years). Cannot have been foreclosed upon in past 7 years. Must be U.S. citizen or Permanent Resident. Mortgage payment cannot exceed 30% of total monthly income. Income guidelines set per application cycle.

Passaic County Habitat for Humanity Homeownership Program sets its income limit as follows: Income guidelines set per application cycle; both minimum and maximum income required based on household size. All income from all adult household members included. 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.

Passaic County Habitat for Humanity Homeownership Program can be used for single_family and condo. New construction is eligible.

Passaic County Habitat for Humanity Homeownership Program serves homebuyers purchasing in Paterson, New Jersey.

Applications for Passaic County Habitat for Humanity Homeownership Program go through Passaic 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.