Habitat for Humanity of Laramie County Homeownership Program

Habitat for Humanity of Laramie County Homeownership Program is down payment assistance for homebuyers in Cheyenne, Wyoming, administered by Habitat for Humanity of Laramie County. Habitat for Humanity of Laramie County builds affordable homes for income-qualified partner families in the Cheyenne/Laramie County area. Partner families purchase their homes with an affordable, no-interest Habitat mortgage and by contributing 400 hours of sweat equity. Homeowners must contribute $2,500 in savings toward closing costs. Homeowner payments revolve back into building homes for new partner families. 0% interest mortgage on a newly built home. Affordable purchase price (sold at no profit). Sweat equity reduces cost. Homebuyer education and ongoing support. Funding comes from Donations of money and materials, volunteer labor, homeowner mortgage payments (revolving).

Habitat for Humanity of Laramie County Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Laramie County. 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 Laramie County Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No specific minimum published; credit history reviewed for ability to repay an affordable mortgage. A homebuyer education course is required, through Habitat for Humanity of Laramie County homeownership classes. 0% interest Habitat mortgage on the home. Requires 400 hours of sweat equity; applicants must demonstrate housing need, willingness to partner, and ability to repay. Gaps: DTI, exact credit minimum, max purchase price, AMI dollar figures, term length, and lien position not published on the official site.

Habitat for Humanity of Laramie County Homeownership Program sets its income limit as follows: Household income must be between 30% and 80% of the area median income. 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 of Laramie County Homeownership Program caps the purchase price as follows: Homes sold to partner families at no profit. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity of Laramie County Homeownership Program serves homebuyers purchasing in Cheyenne, Wyoming.

Applications for Habitat for Humanity of Laramie County Homeownership Program go through Habitat for Humanity of Laramie County, which publishes the current terms and the application steps on its own site. Funds are reserved through Application/information-session intake; partner family selection. 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.