homeownership benefits and eligibility

With the help of sponsors, donors, volunteers, and community partners, we build homes in family-friendly communities and sell them to qualifying homeowners. Habitat requires the homeowner to volunteer 500 hours, including financial courses, and there is no down-payment for the home. Each homeowner has affordable monthly payments that bring stability to their housing situation.

benefits of Habitat homeownership

• No cash down payment is required.
• Mortgage payments are based on 50% of the appraised value of the house. For example, if a Habitat home is appraised at $300,000, the homeowner’s first mortgage is based on $150,000. Habitat holds the second mortgage interest-free for 10 years. The first mortgage will have an interest component.
• Please note that the first mortgage will be held and administered by one of our financial partners.
• Homeowners payments will not fluctuate over the course of each term.
• Homeowners gain access to shared market appreciation on their home upon graduating from Habitat home ownership.

am I eligible?

• Be a Canadian Citizen
• Be employed on a full-time, permanent basis.
• Have an annual gross household income of $45,000 – $85,000 (as determined by Habitat).
• Maintain a good credit rating (no bankruptcy, credit card payments are up-to-date, etc.).
• Agree to volunteer 500 hours (including financial courses) with Habitat.
• You acknowledge that you will be paying interest (to Habitat’s financial partner) on the mortgage.

our financial partners