Habitat for Humanity Greater San Francisco Application Meeting: 1009 Mission Street, San Francisco

Transcription

1 Habitat fr Humanity Greater San Francisc Applicatin Meeting: 1009 Missin Street, San Francisc

2 MISSION STATEMENT At Habitat fr Humanity Greater San Francisc ur missin is t prvide lcal families with a springbard t secure, stable futures thrugh affrdable hmewnership, financial literacy and neighbrhd revitalizatin.

3 HABITAT FOR HUMANITY GREATER SAN FRANCISCO HHGSF WHAT WE DO A nn-prfit affrdable husing rganizatin which is an affiliate f Habitat fr Humanity Internatinal. Millard and Linda Fuller funded Habitat fr Humanity Internatinal 40 years ag. Tday, Habitat fr Humanity is the wrld leader in building affrdable husing with affiliates in the United States and natinal rganizatins arund the wrld. Since 1989, ur Habitat fr Humanity Greater San Francisc affiliate has built mre than 200 hmes in San Francisc, Marin, and San Mate Cunties. 3

4 HHGSF HOMEOWNERSHIP PROGRAM Applicants are Evaluated n 3 Main Criteria 1. Ability t Pay a Mrtgage Histry f regular incme and gd credit Ability t make mnthly payments 2. Need fr Husing Lw t mderate incme 3. Willingness t Partner with Habitat Must fulfill Sweat Equity (Vlunteer Hurs) Respnsible fr hme maintenance Respnsible fr being a gd neighbr

5 HHGSF HOMEOWNERSHIP PROGRAM WE PROVIDE AFFORDABLE HOMES 0% Interest Mrtgage $0 Dwn Payment N Clsing Csts Mnthly husing payments equal 30% f the grss husehld incme which include: Mrtgage- The term f the Habitat mrtgage cannt exceed 40 years. Habitat hmes are priced at Restricted Fair Market Value, based n an independent appraisal that factrs in any deed restrictins n the husing unit. In rder t bridge the gap between what the hmewner can affrd (i.e., 30% f their incme) and the price f the hme, Habitat may ffer mrtgage assistance in the frm f a silent mrtgage that may be frgiven when the primary Habitat mrtgage is fully repaid. Prperty taxes -subject t change annually Insurance- subject t change annually HOA dues- des nt include assessments; subject t change annually

6 HHGSF HOMEOWNERSHIP PROGRAM Affrdable Husing Resale Restrictins Decided t sell after 20 years $700 x 12 x 20 = $168,000 Must be sld t Habitat if within restrictin perid, can be up t 55 years Restrictin perid varies fr each hme r develpment Habitat pays back yur mrtgage when yu sell Des nt include: prperty tax, insurance, HOA dues, and special assessments Inheritance Cnditins Must meet ur requirements t qualify If nt qualified, they can inherit the hme equity Principal Residence Cannt rent ut huse r rms within the hme

7 1009 MISSION STREET, SAN FRANCISCO 3-bedrm, 1-bath cndminium Husehld size: 3-7 persns Incme range: $58,150- $106,850 One reserved parking space 951square feet Hmewner s Assciatin (HOA) cmmunity

8 APPLICATION REQUIRMENTS APPLICANT AND CO-APPLICANT REQUIREMENTS What is an Applicant and C-applicant? Titlehlder - legally respnsible fr making the mnthly husing payment n time. Yu d nt need t have a C-applicant, but if yu are married yur spuse must be yur Capplicant. Must be a First-time Hmebuyer An individual wh has had n wnership in a principal residence fr the last 3 years at the time f applicatin. This includes a spuse. Must be a legal permanent resident r citizen f the United States. Prf f residency is required when submitting an applicatin. Applicant/C-applicant must pass criminal, sex ffender and a mney laundering backgrund screening.

9 APPLICATION REQUIRMENTS APPLICANT AND CO-APPLICANT REQUIREMENTS Have a median credit scre f 650 and have a histry f reliable payments n credit reprt(s) Debt t incme rati belw 45% May nt have judgments n credit reprt May nt have utstanding cllectins and/r charge-ffs n credit reprt Fr medical, n mre than $500 per ccurrence r maximum $2000 fr ttal ccurrences. May nt have a Chapter 7 r Chapter 13 Bankruptcy within the last tw years It has t be discharged tw years frm the date f applicatin; supprting dcuments required.

10 APPLICATION REQUIREMENTS HOUSEHOLD REQUIREMENTS Husehld must have lived tgether fr the past 12 mnths at time f applicatin INCOME REQUIREMENTS ALL HOUSEHOLD MEMBERS Only incme frm husehld members wh are legal permanent residents f the United States will be cunted. Prf f residency is required when submitting an applicatin. All husehld members earning an incme must be 18 years r lder. Cash incme will nt be cunted. All husehld members earning an incme must be emplyed r self-emplyed) fr at least 2 years at the same jb r industry. Fr self-emplyed, we average past 2 years incme and current year year-t-date incme. Incme will nly be cunted if it s likely t cntinue fr three years (includes emplyment, general assistant, child supprt, etc).

11 INCOME REQUIREMENTS TYPES OF INCOME ACCEPTED Emplyment Self-emplyment Aid t Families with Dependent Children (AFDC) Veterans Benefit Disability Wrkers Cmpensatin Temprary Assistance fr Needy Families (TANF) Insurance Plicies General Assistance (GA) Scial Security, SSI, SSDI Unemplyment (nly if emplyment is seasnal) Survivr/Death Benefits Annuities Retirement, Pensins Child Supprt/Alimny Mnetary Supprt (need prf f surce)

12 REQUIREMENTS INCOME RANGES Husehld s grss annual incme must be between 60 80% f the area median incme (AMI) as defined by the U.S. Department f Husing and Urban Develpment (HUD) 2016 Unadjusted HUD Area Median Incme (AMI) Limits % $58,150 $64,600 $69,800 $74,950 $80,150 80% $77,550 $86,150 $93,050 $99,950 $106,850

13 LOTTERY PREFERENCES The fllwing lttery pririties will apply t 1009 Missin Street: 1) Certificate f Preference 2) SMa Redevelpment Prject Area Residents in census tract and 178 3) Displaced Tenant Husing Preference (DTHP) 4) Residents and wrkers f San Francisc

14 APPLICATION PROCESS Get cnnected! Cmplete the Intake Attend Applicatin Infrmatin Meeting What des the lttery d? 2. Submit yur Applicatin 5. Hmewner Selecting Cmmittee hme 3. Lttery and 1 st Incme Qualificatin, Credit, Backgrund interview Review 4. The lttery sets the prcessing rder. Yur lttery number indicates when yur applicatin will be reviewed fr eligibility. Fr example, if yur lttery number is 1, yur applicatin will be reviewed first. Cnditinal Apprval by Habitat Bard and Staff 8. Mve int yur New Hme 7. Escrw Clsing Prcess 6. 2 nd Incme Qualificatin, Credit, Backgrund Review 5. Sweat Equity - Cmplete 250 hurs thrugh vlunteer wrk with HHGSF

15 APPLICATION CHECKLIST SUBMIT THE FOLLOWING APPLICANT/CO-APPLICANT Cmpleted Applicatin Remember t cmplete ALL pages Grunds f Denial Release f Infrmatin Cpy f State r Natinal Picture ID Driver s license, State ID, etc. Cpy f Prf f Residency due when we prcess yur applicatin after the lttery Permanent Resident card, U.S. Passprt, U.S. Birth Certificate, Naturalizatin certificate Cpy f Scial Security Card due when we prcess yur applicatin after the lttery HOUSEHOLD MEMBERS 18 years and lder Release f Infrmatin Cpy f State f Natinal Picture ID Driver s license, State ID, etc. Cpy f Prf f Residency (nly if earning an incme) due when we prcess yur applicatin after the lttery Permanent Resident card, U.S. Passprt, U.S. Birth Certificate, Naturalizatin certificate Cpy f Scial Security Card due when we prcess yur applicatin after the lttery MINORS 18 years and yunger Cpy f Scial Security Card Cpy f Birth Certificate

16 APPLICATION CHECKLIST DEADLINE: FRIDAY, MARCH 24, :00 PM Please submit yur applicatin by: By mail: Habitat fr Humanity Greater San Francisc Attn: Hmewner Develpment Department 500 Washingtn Street, Suite 250 San Francisc, CA In Persn: (M F frm 11 am t 5pm) Habitat fr Humanity Greater San Francisc Hmewner Develpment Department 500 Washingtn Street, Suite 250 San Francisc, CA Applicatins must be received by Friday, March 24, 2017 by 5:00 pm. Applicatins received after the deadline will nt be accepted. Applicatins pstmarked by deadline will nt be accepted. We strngly encurage yu t submit yur applicatin by certified mail r in persn. Habitat fr Humanity GSF is nt respnsible fr any errrs due t the Pst Office. Errrs include, but are nt limited t: a lst applicatin, delays, damaged applicatin, incmplete applicatin, etc.

17 QUESTIONS?