Habitat accepting application for homeownership program
May 16. Written by the Orlando Sentinel staff.
Applications are now open for Habitat for Humanity of Lake-Sumter’s 10 new homes being built throughout Lake and Sumter counties.
Habitat builds and sells affordable homes to individuals and families in Lake and Sumter who demonstrate need, meet program guidelines and can sustain a monthly mortgage through its Home Ownership program.
Applicants must meet a variety of criteria: A target credit score of around 640, live or work in Lake or Sumter, demonstrate a need for the program, have verifiable income, and fall within HUD “sweat equity,” which shows they are invested in the outcome of their new home.
Sweat equity is earned through activities such as volunteering on a Habitat worksite, in the ReStores and through educational courses such as a First-Time Homebuyer, Financial Literacy and Credit Counseling classes.
To read the full article in the Orlando Sentinel, click here.