Homeownership FAQs
Habitat for Humanity of Tampa Bay Hillsborough
Building Shelter
FAQs
No. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage.
Habitat for Humanity of Tampa Bay Hillsborough works to acquire affordable residential buildings lots throughout Hillsborough County. We offer home sites as land opportunities become available to us. **Veterans are urged to apply through the Veterans Initial Screening Form
No down payment is required. However, future homeowners are required to play closing costs and work Sweat Equity, which is each future homeowner's investment into their property.
Sweat Equity is the actual physical labor that future homeowners work building Habitat homes or volunteering in the Habitat ReStore or Habitat administrative offices. There is no monetary value to Sweat Equity. It does not qualify as down payment. Sweat equity is intended to contribute to three fundamental goals in the Habitat program: 1. Partnership; 2. Pride in ownership and 3. Development of skills and knowledge
No, but decent or repairable credit is important. Habitat Tampa Bay Hillsborough examines the credit history, rather than just a credit score. The limit for non-medical collections is $1,500 total. Non-medical collections must be paid off prior to closing. Habitat Tampa Bay Hillsborough does not consider medical collections unless a single collection is $2,000 or more.
Bankruptcies must be discharged for at least 48 months
Habitat considers what shows up on a credit report: revolving credit (credit cards), car loans, student loans, any other type of installment loan, etc. We don’t consider car or life insurance or child care.
No! Habitat Tampa Bay Hillsborough is an Equal Housing Opportunity Lender. The 3 areas which Habitat Tampa Bay Hillsborough considers for eligible applicants are 1) Housing Need; 2) Ability to Pay and 3) Willingness to Partner.
Since the mission of Habitat Tampa Bay Hillsborough is to provide access to affordable home financing, we serve applicants whose total household income falls below 80% of Area Median Income (AMI) and slightly above the minimum AMI as defined by HUD. Eligibility for the Habitat Homeownership Program is different than the Ability to Pay.
Please visit the Homeownership page on this website, where you can submit an initial application online.
The Habitat Homeownership Program may take up 12 to 18 months from the Initial Screening Form and Homeownership Program Application to purchasing a home.