Habitat for Humanity of La Pine Sunriver is now accepting homeownership inquiries from local households interested in purchasing an affordable Habitat home in La Pine. The program is designed to create an affordable path to homeownership for working households who meet income and other program qualifications but may struggle to purchase a home through the traditional housing market.
“We want people in our community to understand that Habitat homeownership is a partnership,” said Kim Gammond, Executive Director of Habitat for Humanity of La Pine Sunriver. “Our homeowners are investing in their own future. They qualify for a mortgage, put hundreds of hours of sweat equity into the program, complete financial education and ultimately purchase their home. Habitat’s role is to help make that opportunity affordable and achievable.”
Habitat for Humanity of La Pine Sunriver is currently developing new permanently affordable homes in La Pine under a land lease model. The organization’s homeownership program is intended for income-qualified households who demonstrate a need for affordable housing, an ability to pay for their home and a willingness to partner with Habitat.
Households begin the process by completing an online inquiry to determine whether they meet initial eligibility requirements. Those who are eligible are invited to complete a full application and continue through the qualification process.
Among the program requirements, prospective homeowners must meet household income guidelines, work with a participating lender to obtain mortgage prequalification, participate in financial and homeowner education, and complete Habitat’s sweat equity requirement.
There is no traditional down payment requirement, although buyers are responsible for applicable closing costs. Once the home is purchased, homeowners are responsible for their mortgage as well as ongoing expenses such as property taxes, homeowners insurance, utilities and applicable HOA dues.
The process from approval to moving into a Habitat home typically takes approximately 12 to 24 months. Habitat encourages interested households to review the income and program requirements before submitting an inquiry.
Learn more and submit a homeownership inquiry: https://www.habitatlapinesunriver.org/home-ownership
This story is based on submitted information and has not been verified by our news team.
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