Vision - A safe and decent home for every family
Mission - Asheville Area Habitat for Humanity (AAHH) is a non-profit ministry that fosters community by partnering with qualified families and individuals to build new houses and preserve existing homes.
Values - Collaboration, Opportunity, Dignity, Empowerment
History - Founded in 1983 as first Habitat affiliate in NC. AAHH has built 238 new houses in that time, providing 900 adults and children with safe, decent housing.
HOW THE HABITAT MODEL WORKS
Habitat offers a hand up, not a hand out. Habitat builds homes and sells them to qualified families at no-profit. Community volunteers help keep costs down.
Homeowners must meet qualifications based on residency, need, willingness to partner and ability to pay
Homeowners pay back a 0% interest mortgage, typically over 30 years
Mortgage payments range from $475 - $575/month, depending on the size of the house and family
1st mortgage is for cost of house and a soft 2nd mortgage for “equity protection”. Second is only triggered at the time of sale or default and 1/360th is forgiven with every mortgage payment.
Homeowners also perform a minimum of 200 hours of sweat equity as part of their partnership with Habitat. Hours are earned by volunteering at the construction site, in the ReStore and administrative office, and by completing required homeownership preparation classes such as Basic Home Maintenance.
In addition to building new houses, Habitat now offers an affordable Home Repair program for low-income homeowners. Qualifications are similar to that of the homeownership program.
In addition to receiving financial support from individuals, businesses/corporations, faith communities, foundations, and the City/State, Asheville Area Habitat has three sources of sustainable income:
1) ReStore proceeds cover all of AAHH’s administrative and fundraising costs, build one complete Habitat house and pay for the foundation of all Habitat houses built in Buncombe County annually.
2) Homeowner mortgage payments contribute nearly $500,000 to the house building budget annually.
3) Deconstruction provides an additional $200,000 worth of merchandise to the ReStore annually.