Habitat for Humanity-Lima Area - Homeownership Program

Habitat for Humanity-Lima Area - Homeownership Program is a first mortgage for homebuyers in Lima, Ohio, administered by Habitat for Humanity-Lima Area, Inc. Habitat for Humanity-Lima Area provides qualified families in Allen County and the Delphos area of Van Wert County an opportunity to purchase a simple, decent home with a no-profit, no-interest Habitat mortgage. Applicants must demonstrate housing need, ability to repay, and willingness to partner through a minimum of 200 sweat-equity hours plus required homeowner training and credit education. No-interest mortgage. Serves families who can't get conventional financing. Homeowner training and credit education included. Sweat-equity builds equity. Serves Allen County plus Delphos. Funding comes from Donations, volunteer labor, grants, and homebuyer mortgage payments.

Habitat for Humanity-Lima Area - Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity-Lima Area, Inc.. 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-Lima Area - Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No published minimum credit score; designed for families who would not qualify for a conventional bank loan. A homebuyer education course is required, through Habitat for Humanity-Lima Area homeowner training and credit education. Start with the Pre-Application Form and attend an information session; an application interview follows. Minimum 200 sweat-equity hours. Generally requires ~1 year of employment. Specific income dollar limits, credit score, DTI, purchase price not captured from a primary-source table and left null. Distinct from the City of Lima/Allen County municipal DPA already in catalog.

Habitat for Humanity-Lima Area - Homeownership Program sets its income limit as follows: Household income must fall within published ranges by family size (ability-to-pay floor and ceiling). Specific dollar figures provided on the affiliate's Selection Criteria page / at info sessions; not captured in a primary-source table during this verification. 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-Lima Area - Homeownership Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity-Lima Area - Homeownership Program serves homebuyers purchasing in Lima, Ohio.

Applications for Habitat for Humanity-Lima Area - Homeownership Program go through Habitat for Humanity-Lima Area, Inc., 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.