Habitat for Humanity of Portage County - Home Ownership Program

Habitat for Humanity of Portage County - Home Ownership Program is a first mortgage for homebuyers in Ravenna, Ohio, administered by Habitat for Humanity of Portage County. Habitat for Humanity of Portage County's Home Ownership program sells newly built homes to income-qualified partner families with an interest-free mortgage covering principal, taxes, and insurance. Eligible households earn between 40% and 80% of Portage County median family income. Partner families complete 500 sweat-equity hours (two-adult families) or 250 hours (single-adult families). Interest-free mortgage. Affordable monthly payment including taxes and insurance. Published income guidelines by family size. Sweat-equity builds equity. Budget counseling support provided. Funding comes from Donations, volunteer labor, grants, and homebuyer mortgage payments.

Habitat for Humanity of Portage County - Home Ownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Portage County. 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 Portage County - Home Ownership 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; ability to pay assessed through financial interview. Applicants must demonstrate housing need, ability to pay, and willingness to partner. Sweat equity: 500 hours for 2-adult families, 250 hours for 1-adult families. first_time_homebuyer status, credit score, DTI, education requirement, purchase price not published and left null. Income limits subject to change without notice.

Habitat for Humanity of Portage County - Home Ownership Program limits household income to 80% of the area median income, which varies by county and household size. Total household income must be at least 40% and not over 80% of Portage County median family income. 4-person range: $40,125 (min) to $80,250 (max). Ranges from $56,200 (1-person max) to $105,950 (8-person max). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. 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 Portage County - Home Ownership Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity of Portage County - Home Ownership Program serves homebuyers purchasing in Ravenna, Ohio.

Applications for Habitat for Humanity of Portage County - Home Ownership Program go through Habitat for Humanity of Portage County, 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.