Waitlist Information and Qualifications

June 13, 2018

Thank you for your interest in learning more about becoming an Atlanta Habitat homebuyer. Please review the categories below to determine your status and what information applies to you. You may check back periodically for any update to our current application process. Thank you for your patience!

If you are new to Atlanta Habitat and looking to purchase a home: (You have not attended an information session)

Your first step in the application process is to register and attend an information session. Currently, Atlanta Habitat registration for information sessions is CLOSED. To check the status of Atlanta Habitat’s information sessions, follow this link to step 1 of the application process page http://www.atlantahabitat.org/application-process  underneath step 1. In the meantime, please review the qualifications for our home-purchase program to determine if it is a good fit for you. http://www.atlantahabitat.org/applicants/qualifications/

If you are on the waitlist for an information session:

The first registered on the waitlist (from January) will be the first invited. We will continue to monitor information sessions and invite those based on when they were placed on the information session waiting list. You will be contacted via email or phone if you are invited.

If you are on the application waitlist:

You are on the application waitlist if you have already attended an information session, completed a one-on-one consultation, meet our qualifications, and were told you have been added to the application waitlist. Since January 1, 2018, we have begun accepting a limited number of applications and closely monitoring the volume of applications accepted. We will contact you by email or phone in the order in which you were placed on the application waitlist. If you do not contact us within one week of our email/phone contact, you will be removed from the waitlist. We cannot give a timeframe for when you will be contacted.

We recommend you stay within qualification range by doing the following:

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 no less than $200 in a bank account

 5) Save $800 good-faith deposit

6) Consult your point of contact if you are considering changing jobs or your work schedule or receiving a raise.

If you have attended an information session and would like to be place on the application waitlist:

Please call your point of contact to update Atlanta Habitat on your current qualifications and determine if you are ready to be placed on our application waitlist.

 

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.

 

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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