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HOW TO PREPARE
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HOW TO PREPARE

MAINTAIN A STEADY, RELIABLE INCOME

Changing jobs frequently or right before you apply for a mortgage may make it harder to qualify. When determining your ability to afford the mortgage, Habitat can only consider earned income that is claimed on your Federal Tax Return.

REVIEW YOUR CREDIT REPORTS

Habitat strongly suggests that you review your credit reports (yes, all three) before you apply. You can get a free copy at www.annualcreditreport.com.

 

Habitat does not have a minimum credit score. We look at your payment history, total minimum payments on ALL of your debt (student loans and anything you co-signed included), any new credit, collections, etc.

 

TAKE A HOMEBUYER EDUCATION COURSE

Habitat is excited to partner with HomeFirst, a financial wellness initiative offered by The University of Alabama’s Center for Community-based Partnerships for individuals and families who are on the path to first-time homeownership. Visit http://ccbp.ua.edu/homebuyer-readiness-pathway/ to request a meeting and learn more.

 

HUD-certified housing counseling is offered by the City of Tuscaloosa. Other organizations also offer this service online, generally for a fee.

 

Many local banks and credit unions offer free homebuyer or financial education courses. These are also a good resource for learning about homeownership and resources that are available.

 

START SAVING FOR THE DOWN PAYMENT

Start preparing financially for homeownership by opening a savings account and saving for emergencies and a down payment.

 

GATHER YOUR IMPORTANT DOCUMENTS

Below is a list of some of the documents you may be asked to provide if your application meets our minimum guidelines. Every situation is different; therefore, you may be asked to provide additional information.

  • Last two (2) years of tax returns if you have employment or self-employment income

  • Most recent three (3) months of paystubs and/or benefit letters

  • Most recent two (2) months of bank statements

  • Social security cards for all household members

  • Driver’s License, state-issued Identification Card, Passport, or Permanent Resident Card for all adult household members

Resources

WANT TO CHECK YOUR CREDIT?

  • Habitat for Humanity does not have a minimum credit score. However, we strongly suggest you review your credit report before you apply to check for errors or collections that need to be paid off. You can obtain a free copy of your report at annualcreditreport.com.

 

UNDERSTANDING YOUR CREDIT REPORTS AND SCORES

 

NEED HELP CREATING AND STICKING TO A BUDGET?

TAKE A HOMEBUYER EDUCATION COURSE

  • Habitat is excited to partner with HomeFirst, a financial wellness initiative offered by The University of Alabama’s Center for Community-based Partnerships for individuals and families who are on the path to first-time homeownership.

  • Visit http://ccbp.ua.edu/homebuyer-readiness-pathway/ to request a meeting and learn more.​

HUD-certified housing counseling is offered by the City of Tuscaloosa. Tuscaloosa residents may access housing counseling services by calling 205-248-5080 or emailing housingcounseling@tuscaloosa.com.

 

Other organizations also offer this service online, generally for a fee. Many local banks and credit unions offer free homebuyer or financial education courses. These are a good way to learn about homeownership, mortgages, and resources that are available.

FAQ's

HOW LONG WILL IT TAKE TO MOVE IN TO MY HOME?

Purchasing a home through Habitat’s Homeownership Program generally takes

one (1) – two (2) years. Habitat does not offer any emergency or temporary housing.

WHEN WILL MY HOME BE BUILT?

Habitat is always looking for affordable land in Tuscaloosa County. Where your home is built will be determined by the lots we have available at that time. The majority of our property is in West End area of Tuscaloosa.

CAN HABITAT BUILD ON MY LAND?

Yes! We can build on your land as long as you have clear title and the land meets our other criteria. 

 

WHAT SIZE HOMES DO YOU BUILD?

Habitat homes are typically two (2) to four (4) bedroom homes that range from approximately 900 sq. feet to 1,400 sq. feet. House size is usually based on your family size

Resources
FAQ's
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