Homeownership
Asheville Area Habitat for Humanity builds and finances 2, 3, and 4-bedroom homes and townhomes. Qualified homeowners pay an affordable monthly mortgage that is equal to or less than 30% of their gross monthly income.
Are you 55+ years old and interested in buying a Habitat home?
Please visit our page about Aging in Place, Habitat’s new affordable homeownership program specifically for aging adults (55+).
Qualifications for Homeownership
Residency:
- Must have lived and/or worked in Buncombe County for a minimum of 12 months prior to application.
- Applicants must be legal U.S. residents.
Need:
- Living in overcrowded housing.
- Living in substandard housing.
- Paying more than 30% of gross income on rent.
- Living in temporary, subsidized, or public housing.
Willingness to Partner
- Each applicant who will be listed on the deed must be willing to perform 200 hours of Sweat Equity.
- Applicants must be willing to complete a Homebuyer Education program.
- Appropriate accommodations can be made for families with physical limitations in accordance with the Americans with Disabilities Act (ADA).
Homeownership Qualifications continued
Ability to Pay
- Rental History: must have paid rent on-time for 12 months prior to applying.
- Employment history: When considering income from employment, minimum 2 years of continuous employment history, including at least 12 months with current employer.
- Debt-to-Income ratio: Monthly debts cannot consume more than 18% of gross monthly income.
- Delinquent Debt: No more than $1,500 in total balances at the time of application.
- Medical Collections: less than 3 years old – no more than $2,500. If greater than 3 years old – no more than $7,500.
- Revolving Debt (ie: credit card debt): No more than $2,500 in total balances at the time of application, excluding student loan or automobile loan debt.
- Bankruptcy: Must wait two years after being discharged.
- Income: must be stable and fall below 80% of Housing and Urban Development’s (HUD) Area Median Income. See chart to the right.
Note: You cannot qualify for Habitat homeownership if you own a home at the time of application.
Income Requirements (subject to change)
| House Size | Monthly Minimum | Monthly Maximum |
|---|---|---|
| 2 BDRM, 1 person | $1,876 | $3,750 |
| 2 BDRM, 2person | $2,143 | $4,283 |
| 2 BDRM, 3 person | $2,410 | $4,820 |
| 3 BDRM, 3 person | $2,410 | $4,820 |
| 3 BDRM, 4 person | $2,676 | $5,354 |
| 4 BDRM, 4 person | $2,676 | $5,354 |
| 4 BDRM, 5 person | $2,893 | $5,783 |
| 4 BDRM, 6 person | $3,106 | $6,212 |
| 4 BDRM, 7 person | $3,320 | $6,641 |
| 4 BDRM, 8 person | $3,533 | $7,070 |
*Gross income before taxes
Habitat will determine your house size based on your household size.
How to Get Started
The application period and notification list registration for Asheville Habitat’s Affordable Homeownership program is currently closed. Please check our websites for updates.
In the meantime, if you have questions about our program criteria, we encourage you to watch the online information session. If you have follow up questions, please email Homeowner Services at apply@ashevillehabitat.org or call 828-210-9371.
Information Sessions
Want to learn more about becoming a Habitat Homeowner?
Learn more by viewing the Homeowner Information Session, a 15-minute video that further explains the program, qualifications, and application process.
In accepting and rejecting applications, Asheville Area Habitat for Humanity must conform to all aspects of the Fair Housing Act and all Fair Housing Laws, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Privacy Act, the Americans with Disabilities Act, as well as any local applicable laws as they apply to applications for a mortgage.
