Need, Ability to Partner & Ability to Pay
As we strive towards a world where everyone has a decent and affordable place to live, Newnan-Coweta Habitat for Humanity, Inc. recognizes the importance of successful homeownership, home maintenance, and community support. All of NCHFH's programs require that prospective and existing homeowners demonstrate a need, willingness to partner with NCHFH and ability to pay a zero-interest mortgage or repay a zero-interest loan. This emphasizes Habitat's belief of providing individuals and families with a hand up, not a hand out.
A need for housing can be expressed by current housing being inadequate based on size, structural state, or an unsafe neighborhood, just to name a few examples. An applicant’s current housing can also be cost burdened and consume more than 30% of the household’s monthly income.
Education plays a large part of NCHFH's programs. New homeowner applicants must attend mandatory homeowner education classes as well as complete 250 sweat equity hours (100 in construction, 150 in NCHFH's ReStore). NCHFH's educational classes focus on topics such as the homebuying process, home maintenance, credit management, budgeting, avoiding delinquency and foreclosure and more.
Existing homeowners applying for repair and/or renovation assistance must attend a basic home maintenance class and volunteer 25 sweat equity hours in construction or the organization's ReStore operation.
To ensure the affordability of its programs, NCHFH provides new and existing homeowners with zero-percent interest loans. Terms vary depending upon the amount being financed but not charging interest allows homeowners to create a nest egg for future home expenses, pay their principal down more quickly or invest in areas such as returning to school.