For the

first time in 25 years and 300 homes, Habitat for Humanity Saint

Louis does not have a waiting list. In fact, houses scheduled for

construction don’t have owners and are up for purchase.

“font-size: 9.0pt; font-family: Verdana;”>The nonprofit is

well-known for providing affordable housing. However, with the

present economic climate, Habitat has had to toughen up its

qualifying requirements for its homebuyer’s program.

“font-size: 9.0pt; font-family: Verdana;”>Required income levels

are higher, credit expectations are stricter and debt-to-income

ratios are lower.

“font-size: 9.0pt; font-family: Verdana;”>“We want to make sure

that we are selecting people who will be successful long term,”

said Avis Laden, Habitat’s family selection and support manager.

“We are looking for families who have learned to live on budget and

live within their means.”

“font-size: 9.0pt; font-family: Verdana;”>The families have to be

stable enough that they will be able to handle the mortgage for 25

to 30 years, she said. The last thing Habitat wants is to see

families facing foreclosure in the long term.

“font-size: 9.0pt; font-family: Verdana;”>“We have seen a number of

families who are struggling to make their mortgages,” she said. “We

are working with them to keep them track. If they get into a jam,

we are there to support them through it.”

“font-size: 9.0pt; font-family: Verdana;”>The number of qualified

homebuyer applicants has also declined because of the uncertainty

in the employment market, she said. An example of a qualifying

applicant is a couple who earns between $18,000 and $35,000, or a

family of four that earns between $22,000 and $40,000.

“font-size: 9.0pt; font-family: Verdana;”>Although Habitat has made

their requirements stricter, Laden said they are still providing

affordable housing alternatives to substandard housing.

“font-size: 9.0pt; font-family: Verdana;”>“We’re still building

brand-new houses at zero interest, and they are still at an

affordable mortgage rate, between $400 and $450,” she said, “and

that includes taxes and insurance.”

“font-size: 9.0pt; font-family: Verdana;”>This year was the first

year Habitat started a “pre-screen” phase where applicants complete

a questionnaire about income, credit and debt-to-income ratio.

Laden said this alone weeds out a lot of non-qualifying applicants.

If the applicant passed this phase, then CitiMortgage reviews the

files and makes the decision to proceed. 

“font-size: 9.0pt; font-family: Verdana;”>The prospective homebuyer

would then fill out conventional loan and meet with a Habitat staff

member for review. A Habitat representative would make a home visit

and assess the need of the applicant based on how they are

currently living. 

“font-size: 9.0pt; font-family: Verdana;”>“Need” is one of the

major components of the Habitat Homebuyers program, she

said.

“font-size: 9.0pt; font-family: Verdana;”>Upon acceptance into the

program, Habitat asks that homebuyers attend a series of workshops

on finance and budgeting, being a good neighbor, and home

maintenance.  Each family is required to complete 350 hours of

“sweat equity.” Ninety of these hours must be completed within

their partner community. This provides an opportunity for families

to become familiar with their future community and

neighbors.

“font-size: 9.0pt; font-family: Verdana;”>“Habitat for Humanity

Saint Louis believes everyone deserves the basic human right of a

safe, stable, and comfortable home,” Laden said.

“font-family: Verdana;”> 

“font-size: 9.0pt; font-family: Verdana;”>Information on Habitat’s

Homebuyer program can be found on-line at habitatstl.org.

Interested homebuyers can request an application by calling

314-371-0400, or by going on-line at

habitatstl.org. 

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