Habitat NYC in Search of new Bed-Stuy Homeowners

The requirements to become a Habitat homeowner:

Habitat is building 100 affordable homes in Bedford-Stuyvesant and Ocean Hill Brooklyn.  To qualify the applicant must be a first time home owner, have a credit score of 620 or better, and meet income requirements as follows:

Household Size      Minimum Income                  Maximum Income

1                          $27,750.00                          $44,350.00

2                          $31,700.00                          $50,700.00

3                          $35,650.00                          $57,050.00

4                          $39,600.00                          $63,350.00

5                          $42,800.00                          $68,450.00

6                          $45,950.00                          $73,500.00

Habitat-NYC is constructing affordable homes renovating existing multi-family buildings or new construction from the ground up.  The condominium homes are built utilizing "green" design features to provide healthy environments, energy efficiency and future energy cost savings.  The size of the units vary from 1 to 3 bedrooms housing 1 to 6 people and purchase prices start from the low 100,000s.  A cash down payment of 1% of the purchase price is required plus 200 hours of "sweat equity" by each adult member of the family.  The mortgage on the home has a term of either 30 or 40 years at a very low fixed interest rate of 2%.  The buyer's monthly housing costs will not exceed 33% of their income.

Habitat-NYC provides training in budgeting and money management as well as building and condo maintenance to help promote homeowner success. The screening process and training programs have helped to keep homeowner defaults extremely low. 

Over the past several years Habitat-NYC has built homes at the Halsey Street and Atlantic Avenue, Hart Street and Lafayette Street and Monroe Street and St. John's Place sites in Brooklyn. Habitat NYC has a goal to provide the opportunity of homeownership to first time home buyers while strengthening the communities that they build in. Come apply in person at the next Community Board #3 meeting on Monday September 12th at 7pm. The meeting will be at the Bedford Stuyvesant Restoration Corp 1368 Fulton Street Basement Level Community Room. 

See attachments for more info and application. For further assistance:

CALL CHRISTOPHER ILLUM (212) 991-4000 Ext 307 OR EMAIL cillum@habitatnyc.org

(212) 991-4000 Ext 327 OR EMAIL namouri@habitatnyc.org

Habitat for Humanity - New York City

Attn: Homeownership Department

111 John Street - 23rd Floor

New York, NY 10038