Homeownership

• All applicants must be a legal citizen or legal resident of the US.
• All applicants must demonstrate they have lived, worked, or worshiped in Brunswick County for the last 12 months.
• Custody or Legal Guardianship is required for children under the age of 18

• Living in overcrowded or unsafe conditions
• Subsidized, temporary or public housing
• Substandard housing or homeless
• Housing expenses greater than 30% of income
• Unable to get a home loan from any other source or amount bank offers to lend is less than a person can find safe housing for in the county.

• Income: Households with income from 45% to 80% of the area median income (AMI). (See chart below). Reportable Income amounts including wages, Social Security, Social Security Disability, Child Support, other forms of reported Income, and All Debt will be Considered.
• Veterans are encouraged to apply and may qualify with a higher AMI than 80% Max listed above.
• Self-employed applicants must supply 2 years of current tax returns.
• Must have proof of $300.00 saved in savings in an account at application time. Must keep this amount saved during the course of the program.
• Debt: You should not have more than 15% of gross income going toward paying debts. This includes all debts including medical debts.
• Credit: We will charge a credit report fee of $65.00 per applicant ($130.00 for two applicants) for servicing of credit report(s)at time application is submitted (this fee is non-refundable) We are not looking for a certain credit score, we are looking at your payment history and that there are no judgements that could attach to a future home as a lien. Any items in collections or charge-offs need to be paid before entering the program.
• Student loan and medical debt are included in your total debt ratio. If you know your student loan payment amount please disclose otherwise it will be reported at .05%. If you do not have a score in your credit report, you will be asked to submit utility bills and/or other debts to demonstrate a payment history.

2024 Income Requirements

Effective April 2024

*This income requirement chart will be updated every year. A new application will need to be submitted if reporting year has changed and/or application has been updated.

• Completion of sweat equity requirements including submitting monthly payments totaling $3,000 to go towards escrow prior to settlement. Partner families will be required to fill out applications for down payment assistance to assist BCHFH with closing costs.
• Attendance at all homeownership classes and monthly meetings with a mentor.
• Demonstrate willingness to pay a mortgage by submitting monthly payments towards escrow while in the program
• Support your community as representative of Brunswick County Habitat for Humanity
• Open communication with Mentors and BCHFH staff

• Construction, Restores, Community Outreach events, Fundraising and Administrative Office is available as part of your partnership while you are in our program.
• Complete 100 hours of sweat equity before construction begins on your home.
• Total of 300 hours for 1 applicant family or 500 for 2 adult family are required before closing.
• Friends and family may help for a portion of these hours.
• Those with physical disabilities may have a custom sweat equity plan designed, if needed, with doctors' input

• You will be offered construction-ready property that is in our land inventory.
• We typically have land in many communities of Brunswick County; however,
• We cannot guarantee you a lot in a specific area.

Commitment to timely mortgage payments after closing. Monthly mortgage payments include principal payment, below-market interest, homeowner's insurance premiums, property taxes, and any other applicable items such as HOA dues. This monthly payment will be affordable, not to exceed 30% of your gross monthly income.

• Families typically work through the Brunswick County Habitat Homeownership Program in 15- 20 months.
• Factors such as your financial readiness, weather, and the availability of property can affect the time you are in the process.
• Availability of volunteers in the homes designated area.

Please provide copies of all the requested documents that apply.

• Prior 2 years most recent Income Tax Returns (please sign & copy ENTIRE tax return)
• Prior 2 most current years W-2s, 1099 or F4506C form
• Prior most recent 2 months Bank Statements (all types of bank accounts)
• Prior 2 months most recent Pay Stubs for all listed on the application
• Child Support Court Order/Custody Agreement
• Child Support Payment History
• SSI Verification- Award Letter
• Other sources of income (Disability, Veteran or Unemployment Benefits, Alimony,etc.)
• Copy of current Rental Lease
• Signed Credit Release Form
• Divorce Decree or Documentation of Legal Separation or Free Trade Agreement
• Certificate of Release or Discharge from Active-Duty DD FORM 214
• * Money order or check for Credit Report Fee (this fee is non-refundable)

Please Note: There will be a Credit Report fee of $65/1 applicant and $130/ for 2 applicants due at submission of application. Accepted payment types are Check or Money Order, Cash will NOT be accepted. Application and fee(s) can be delivered in person or by mail Only. This is non-refundable.

Submission of Applications are discouraged online due to the privacy of your information and will not be processed without payment of the non-refundable fee.