Qualifications

Qualifications

All applicants must meet these qualifications:

 

  • Be a first-time homebuyer or fall within certain exceptions.
  • Be a citizen or permanent legal resident of the U.S. who has lived or worked in one of the following counties for the past year: Fulton, Cherokee, Clayton, Cobb, Dawson, DeKalb, Douglas, Fayette, Forsyth, Gwinnett, Henry, or Paulding.
  • Household size of one to eight people.
  • Meet income guidelines - based on area median income. We consider predictable sources of documented income such as, social security, self-employment, disability, and child support.
  • Meet savings requirement  (step-up option is available).
  • Meet credit guidelines-we will review your tri-merge credit report (report from all three credit bureaus Equifax, Transunion, and Experian):
    • Overall payment history is considered.
    • Credit score is not considered.
    • Medical bills are not considered unless there is a judgment.
    • A bankruptcy must be four years past discharge before applying.
    • Annual debt-to-income ratio less than 15%, and monthly debt-to-income ratio less than 41%. 
  • Total past due non-medical debts cannot exceed $800.  These debts must be paid down to below $400 before your application can proceed to the Family Selection Committee for the home visit and interview.  These debts must be paid in full before selecting a property. 

  • Be willing to live in and participate in the communities where Atlanta Habitat is building at the time your application is approved. Click here to see where we have built in prior years.


Waitlist Information


Thank you for your interest in learning more about becoming an Atlanta Habitat homebuyer. At this time, we have completed our series of information sessions for 2017, and our 2018 construction schedule is booked with applications that were submitted and accepted prior to October 4, 2017. Beginning summer 2018, we will resume hosting our information sessions and accepting new applications for home purchases. 

If you have registered for an information session, you will be invited to the next available session in the order you registered. When you are assigned to a new information session, you will receive an email with the date and time. If you have not registered yet but would like to be invited to a future session, please complete the registration at http://www.atlantahabitat.org/application-process.

What can you do in the meantime?
1) Pay your debts on time, including your student loans
2) Don’t take on any additional lines of credit
3) Maintain a qualifying level of income
4) Keep $200 in a bank account without dipping below, and
5) Save $800 good-faith deposit

We appreciate your patience and look forward to speaking with you in 2018.

 

Income Guidelines | Effective 9/01/2017

 

Monthly Income Basis

 

Family Size

Minimum Gross Income

Maximum Gross Income

 

3 bedroom

4 bedroom

3 bedroom

4 bedroom

1 person

$2,070

$2,170

$3,255

$3,255

2 people

$2,070

$2,170

$3,720

$3,720

3 people

$2,070

$2,170

$4,185

$4,185

4 people

$2,170

$4,645

5 people

$2,370

$5,020

6 people

$2,715

$5,395

7 people

$3,060

$5,765

8 people

$3,410

$6,135

 

 

Annual Income Basis

 

Family Size

Minimum Gross Income

Maximum Gross Income

 

3 bedroom

4 bedroom

3 bedroom

4 bedroom

1 person

$24,840

$26,040

$39,050

$39,050

2 people

$24,840

$26,040

$44,600

$44,600

3 people

$24,840

$26,040

$50,220

$50,220

4 people

$26,040

$55,750

5 people

$28,440

$60,250

6 people

$32,580

$64,700

7 people

$36,730

$69,150

8 people

$40,890

$73,600

 

 

Occupancy Payments

3 bedroom houses   –   $ 620 per month

4 bedroom houses   –   $ 650 per month

 

Good Faith Deposit

$800

 


 

Learn more about the application process and to sign up for an information session.


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