Also worth mentioning, people do not just get a home with a Habitat partnership. They are given the tools to understand what it means to be a homeowner. They are taken trough programs like "Invest in Yourself", which teaches financial management, home maintenance, building equity. Habitat also gives the family back the equity the home gains during the time of their partnership - if they do decide to sell their home. And if they decided to sell, Habitat buys it back and the home goes to the next family in need. Habitat is a people first solution to the housing crisis, and a government option will always be a numbers based solution. So if you ask me, I will always choose the option that treats me like a person, not a number.
I’m taking their free 9 week Financial Peace University class today. Whether or not I eventually own a house, at least I will have financial literacy. Something school and my parents never taught me.
The mortgage payments go into the Fund for Humanity - which goes to building more homes. It creates a sustainable business model. And Habitat purchases the products they use to build the homes, it's not free. Some parts might be donated by a corporate donor, but the majority is purchased. The labour can be volunteer based for some parts, but not all. There are a lot of parts that require skilled labour, which also costs money. Every Habitat affiliate operates a little differently, so if you are genuinely curious how it all works, it is worth contacting your local Habitat, whether it's Toronto, Huston or Kenya - everyone is different.
They have an in house mortgage. You pay directly to the office you bought from. Each habitat for humanity is owned/run separately. I applied for a job at one and thought wait, your actually a home builder/mortgage company but run as a charity, and get people to build the houses for free? Then I thought how do I open my own Habitat for Humanity 😀
One thing positive I will say about HFH, they operate "re-stores" which can be great places for used appliances and furniture at very low costs relative to anywhere else.
Actually President Carter and Rosalynn both were known to get involved in habitat builds, swinging a hammer right alongside us regular folks. Thanks for the video, good info!
Each Habitat affiliate has different regulations and offers slightly different programs (and requirements) depending on the geographic area and jurisdiction requirements.
Habitant for humanity gets a grant for the mortgage and the loan payments are to pay the grant back. Some of the land is donated and they will build you a brand new house but they want to take an abandoned house and renovate it because it is cheaper for them. Your mortgage payments are the same. I don't like a renovated house with grant money. I would rather have a new house built from the ground up. Smile.
You're right, they don't tell you everything that you needs know. If the supplies are donated and the houses builts by volunteers, why are they charging a 30 year mortgage to pay their salaries and the costs to keep the Habitat of Humanity running. They pick and choose who they want to work with, you get an high pricetag of a house that has a min. of 1200 sq ft. Then they control how many bedrooms/baths you get according to your family size. You have to pay for the items if you wants a dishwasher, microwave and garbage disposal. Majority of the homes don't have a garage or a basement. They choose where you gonna live. This information is what I gather from videos from people have a house through habitat. One lady said she paid 160,000 for her house. I'm like you're paying a mortgage and you don't have a say on anything??? Something doesn't sounds right me.
They do have regulations I just applied for a habitat home because interest rates right now are high home prices are high. You can't even build a fence on the property without asking them sometimes I think it shouldn't even be like that
I think it's a great program to help people out of poverty but the rent in my apartment is already subdized. But if I got to that level were my credit was repaired and I opened a checking and savings to save for a house and a car. I would just stay living in my apartment until I could buy my own house in the mountains without a loan. I much rather just buy a house or rent to own it because there's a big catch to section 8 they will always be in your business about smoking a joint or having a beer. A home owner has a lot more privacy and privileges then a tenant these days. They could have a garden out back, more space etc.. As long as there paying there taxes on it and you have insurance on it so nobody can foreclose on it. Then just leasing or buying one that's already built seems more logical. Your housing would also be more secure that way. I could have a dog and a cat that way. Big family gatherings no landlords in my business and even buy land on it.
I have a habitat house and they have a clause in the agreement that says that if I sell my house I have to offer it to habitate first. I just paid off my house and now I don't know what is going to happen if something happens to me and my children have to the habitate to court for my house.
Am interested in what is offered through Habitat foundation and what is expected from me can you please have a conversation with me a number to call thank you am in Trinidad south Area born and lives here already have the land need to finance a wall to be erected can I be helped in any way by a loan thank you am a pensioner
In most cases when it comes to buying a home through these programs all of the materials are donated, which means the house that's being built for a new home owner They are the ones that have to pay for a house that's free..I know other programs that many people have applied for that they have pay more then what's the house is worth..To me I don't think it's right to over charge the one buying the home.
I don't know if donating is a good idea or not, but I do know every donated piece of furniture in there "restore" stores are overpriced by ×2 a brand new one.
I used to be able to buy heavily discounted things I needed to fix my home. Scence habitat for humanity has their store to help fund your products I can't fix my home in Las Vegas
Something must be wrong with the Managment of this home I mbuilding a home in Peoria az and my house is 1400 s f and habitat for humanity is building a 1300 sf 1/4 mile from where I’m binding. I ask for the price of if humanity home and it is 70k more Than the prices of homes around the neighborhood
Thanks, I am looking for different options for my children and I. My credit is roughly 560 so I know it needs improvement but within a year or two i would like to own my own house or land. I am just clueless as to where to start. I don't think this program is ideal for me because of many things you pointed out. I don't want to spend 30 years paying on a house. I'm already 30 , so that means i'll be 60 by time it's truly mines smh ?? How is that truly homeownership ? I think the term is longer to make up for the interest. Think about it , let's say your mortgage is $500 a month plus $300 in extra fees , equally out to $800 a month. Well thats affordable yes for a new house , but here is the thing. Why would it take 30 years to pay on something you can own in maybe 5 to 8 years if you pay $500 to $700 a year ( not including fees). I would rather pay 0 interest at $700 a month for a 5 bedroom house that i know ill own in under 10 years. Then so pay $400 in mortgage and $300 in fees ( which is really the same as paying interest). It will take me 11 years just to pay 50k on a house that i probably can't flip in the future. Oh not to mention the $300 added fees ( 300 x 12 = $ 3,600 x 11 years = 39,600 ) I paid to who ? Soo lol i roughly paid 50k plus 40k in fees for 11 years.. hmm idk maybe my thinking is wrong.
Yes super tiny: no play areas for our kids, no basement or garage. No storage rooms or kitchen pantry m. When you want to sell the house they don’t want to give you your home appreciation value except too little percent. They are now selling their house for a 4.5% interest rate. They are really mean.
Also worth mentioning, people do not just get a home with a Habitat partnership. They are given the tools to understand what it means to be a homeowner. They are taken trough programs like "Invest in Yourself", which teaches financial management, home maintenance, building equity. Habitat also gives the family back the equity the home gains during the time of their partnership - if they do decide to sell their home. And if they decided to sell, Habitat buys it back and the home goes to the next family in need. Habitat is a people first solution to the housing crisis, and a government option will always be a numbers based solution. So if you ask me, I will always choose the option that treats me like a person, not a number.
I’m taking their free 9 week Financial Peace University class today. Whether or not I eventually own a house, at least I will have financial literacy. Something school and my parents never taught me.
The mortgage payments go into the Fund for Humanity - which goes to building more homes. It creates a sustainable business model. And Habitat purchases the products they use to build the homes, it's not free. Some parts might be donated by a corporate donor, but the majority is purchased. The labour can be volunteer based for some parts, but not all. There are a lot of parts that require skilled labour, which also costs money. Every Habitat affiliate operates a little differently, so if you are genuinely curious how it all works, it is worth contacting your local Habitat, whether it's Toronto, Huston or Kenya - everyone is different.
They have an in house mortgage. You pay directly to the office you bought from. Each habitat for humanity is owned/run separately. I applied for a job at one and thought wait, your actually a home builder/mortgage company but run as a charity, and get people to build the houses for free? Then I thought how do I open my own Habitat for Humanity 😀
401c3
😭😭😭 I mean
Basically a buy here pay here
One thing positive I will say about HFH, they operate "re-stores" which can be great places for used appliances and furniture at very low costs relative to anywhere else.
I’ll be back after my journey…I’m in the interview stage.
Actually President Carter and Rosalynn both were known to get involved in habitat builds, swinging a hammer right alongside us regular folks. Thanks for the video, good info!
Thanks for sharing this video I needed a better break down.
You're welcome!
Well it's actually very nice and hope if you've come out with this program to help those with law income, let the Almighty God bless you. Thanks.
Each Habitat affiliate has different regulations and offers slightly different programs (and requirements) depending on the geographic area and jurisdiction requirements.
Habitant for humanity gets a grant for the mortgage and the loan payments are to pay the grant back. Some of the land is donated and they will build you a brand new house but they want to take an abandoned house and renovate it because it is cheaper for them. Your mortgage payments are the same. I don't like a renovated house with grant money. I would rather have a new house built from the ground up. Smile.
If you default on the payments they sell it to someone else.
I think the point of this is that if you have a low income you can’t qualify for a regular mortgage
Basically Yes
I make 35,000 a years is that low
@@victorsolis4838 that’s poverty level in America
@@victorsolis4838 yes !
@@victorsolis4838 yes
You're right, they don't tell you everything that you needs know. If the supplies are donated and the houses builts by volunteers, why are they charging a 30 year mortgage to pay their salaries and the costs to keep the Habitat of Humanity running. They pick and choose who they want to work with, you get an high pricetag of a house that has a min. of 1200 sq ft. Then they control how many bedrooms/baths you get according to your family size. You have to pay for the items if you wants a dishwasher, microwave and garbage disposal. Majority of the homes don't have a garage or a basement. They choose where you gonna live. This information is what I gather from videos from people have a house through habitat. One lady said she paid 160,000 for her house. I'm like you're paying a mortgage and you don't have a say on anything??? Something doesn't sounds right me.
They do have regulations I just applied for a habitat home because interest rates right now are high home prices are high. You can't even build a fence on the property without asking them sometimes I think it shouldn't even be like that
I think it's a great program to help people out of poverty but the rent in my apartment is already subdized.
But if I got to that level were my credit was repaired and I opened a checking and savings to save for a house and a car. I would just stay living in my apartment until I could buy my own house in the mountains without a loan.
I much rather just buy a house or rent to own it because there's a big catch to section 8 they will always be in your business about smoking a joint or having a beer.
A home owner has a lot more privacy and privileges then a tenant these days. They could have a garden out back, more space etc..
As long as there paying there taxes on it and you have insurance on it so nobody can foreclose on it. Then just leasing or buying one that's already built seems more logical.
Your housing would also be more secure that way.
I could have a dog and a cat that way. Big family gatherings no landlords in my business and even buy land on it.
I applied years ago and I didn’t get approved. My sister-in-law and I had the same credit score, she got approved and I didn’t so unfair
.
I don't get that did they tell you why not
I have always heard, You either pay on the front end or the back end.
I totally agree. Before I even found your video I was thinking the same about this program. It just makes no sense.
Thank you .
Because the proceeds from the homeowner payments go into building more houses
I have a habitat house and they have a clause in the agreement that says that if I sell my house I have to offer it to habitate first. I just paid off my house and now I don't know what is going to happen if something happens to me and my children have to the habitate to court for my house.
How long it take them to contact you to schedule a interview for the home thx
Am interested in what is offered through Habitat foundation and what is expected from me can you please have a conversation with me a number to call thank you am in Trinidad south Area born and lives here already have the land need to finance a wall to be erected can I be helped in any way by a loan thank you am a pensioner
If you paid off your house do you think they will give you your home title? We paid off recently and we are waiting what will come next.
@@rehaboth203 did you find out what comes next
Maybe it's a charity write off for the Wealthy?
In most cases when it comes to buying a home through these programs all of the materials are donated, which means the house that's being built for a new home owner
They are the ones that have to pay for a house that's free..I know other programs that many people have applied for that they have pay more then what's the house is worth..To me I don't think it's right to over charge the one buying the home.
I don't know if donating is a good idea or not, but I do know every donated piece of furniture in there "restore" stores are overpriced by ×2 a brand new one.
I used to be able to buy heavily discounted things I needed to fix my home. Scence habitat for humanity has their store to help fund your products I can't fix my home in Las Vegas
Thanks for the info
Something must be wrong with the Managment of this home I mbuilding a home in Peoria az and my house is 1400 s f and habitat for humanity is building a 1300 sf 1/4 mile from where I’m binding. I ask for the price of if humanity home and it is 70k more Than the prices of homes around the neighborhood
What would you suggest for a home loan Habitat for humanity , or CHAFA. New at this
CHAFA or Homestead
@@Section8Consulting is Homstead in in Colorado
@@monicawilson842 Yes, outside the city limits , here's some info www.vihfa.gov/programs/homeownership-programs/homestead-loan-program
Thanks, I am looking for different options for my children and I. My credit is roughly 560 so I know it needs improvement but within a year or two i would like to own my own house or land. I am just clueless as to where to start. I don't think this program is ideal for me because of many things you pointed out. I don't want to spend 30 years paying on a house. I'm already 30 , so that means i'll be 60 by time it's truly mines smh ?? How is that truly homeownership ? I think the term is longer to make up for the interest. Think about it , let's say your mortgage is $500 a month plus $300 in extra fees , equally out to $800 a month. Well thats affordable yes for a new house , but here is the thing. Why would it take 30 years to pay on something you can own in maybe 5 to 8 years if you pay $500 to $700 a year ( not including fees). I would rather pay 0 interest at $700 a month for a 5 bedroom house that i know ill own in under 10 years. Then so pay $400 in mortgage and $300 in fees ( which is really the same as paying interest). It will take me 11 years just to pay 50k on a house that i probably can't flip in the future. Oh not to mention the $300 added fees ( 300 x 12 = $ 3,600 x 11 years = 39,600 ) I paid to who ? Soo lol i roughly paid 50k plus 40k in fees for 11 years.. hmm idk maybe my thinking is wrong.
That's well thought out.
100% agree. 👍
You want to buy rather than get a free house as it allows you to build equity and move up and on later on. It makes sense.
Habitat homes are ok but so small.
Thanks for telling us thoughts.
Yes super tiny: no play areas for our kids, no basement or garage. No storage rooms or kitchen pantry m. When you want to sell the house they don’t want to give you your home appreciation value except too little percent. They are now selling their house for a 4.5% interest rate. They are really mean.
Will the houses be in section 8?
No
@@Section8Consulting is this program the same as DPA program or they’re a different thing?
I’m low income (23k/ year) but have a 661 credit score
That a good score.
Well last time u check they say they didn't look at your credit score as long you don't own over 1000 of debts collections
I need a house ASAP
Happy New Years
@@Section8Consulting you too dear 🥰
Can you be qualified for a house while on section 8?
The HUD homeownership program allows you to use your voucher if that's what mean.
It is hell & they are very nasty individuals