Information on Home Ownership
Like every Habitat for Humanity affiliate, Northern Fox Valley selects its homeowners based on the three criteria:
- the applicant's level of housing need,
- their willingness to become partners in the program,
- and their ability to repay the no-profit, no-interest loan.
Employment history, credit history and ability to make the monthly mortgage payments are also considered. Applicants must live or work within our service area for at least one year prior to applying. Neither race nor religion is a factor in selecting families.
To find out if you can qualify for a Habitat for Humanity house, take the first step and attend an orientation meeting. If you are interested in attending the next orientation, please contact Sue Bottom at 847-836-1432 or via e-Mail to Sue Bottom and give her your name and address. You will be contacted by mail with the date, time and location of the next meeting.
Frequently Asked Questions:
How does Habitat work? Habitat builds and renovates houses in partnership with qualifying families, using as much donated material and labor as possible. Homes are sold at no profit and financed with no-interest loans, making the monthly payments affordable.
What do I do
first?
The first step is to attend an orientation meeting. Meeting
announcements are sent out two weeks in advance. At the meeting, the
details of the program are explained, your questions are answered and
applications are distributed. Orientation meetings are held once or
twice a year, usually on Saturday afternoons. If you call our office or
e-mail us, you will be notified of the time and location of the next
orientation.
What is my responsibility to Habitat? Selected families are required to put in 250 hours per adult of volunteer construction labor on their home or “sweat equity.” Families are encouraged to have relatives and friends assist them with a certain number of these hours. Selected families are also required to make a down payment of $1,100 at the time of closing, attend a class on personal finances and establish a budget with a financial planner. After moving in, families are expected to make monthly mortgage payments on time and keep the house and yard well maintained. Homeowners are fully responsible for their property and utility bills.
Where do you build the homes? Our affiliate builds within the service area, primarily in Elgin, Carpentersville and St. Charles.
How much will it cost?
The sale price of the home is determined by adding up the land,
infrastructure and material costs. Recent home prices have ranged from
$135,000 to $150,000. The monthly mortgage payments depend on the sale
price of the home and the estimated costs of the real estate taxes.
Mortgage payments typically range from $600–$650 per month but do not
exceed 30% of the family’s income. The length of the mortgage is 25-30
years.
How long will it take?
It will take anywhere from 1 1/2 to 2 years to move into a home after
the application has been reviewed and the partner family selected.
Will bankruptcy disqualify me?
No, however, you will need to wait to apply to Habitat for two years
after the date you filed for bankruptcy.
What are the residency requirements? Applicants are required to live or work in our service area for at least one year to qualify. Our service area is south of Route 176, west of Route 59, north of Route 64 and east of Route 47. We also serve those living in the upper northwest corner of Cook County. This does not include Chicago. If you would like the address and phone number of a Habitat affiliate in your area, please call the Midwest Habitat office at 312-243-644 or look through the list of local affiliates on the Chicagoland web site.
What else should I know?
Habitat benefits from positive publicity and Habitat homeowners may
occasionally be asked to participate in events that will help publicize
our organization. Such events may be fund-raisers, the groundbreaking or
house blessings.