Habitat for Humanity-Lima Area - Homeownership Program

What is 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.

Do you have to pay it back?

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.

Who qualifies?

Habitat for Humanity-Lima Area - Homeownership Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

Habitat for Humanity-Lima Area - Homeownership Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat for Humanity-Lima Area homeowner training and credit education.

2. 2

   Contact Habitat for Humanity-Lima Area, Inc. to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.