Homebuying Program
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Homebuying Program

In-Person Homebuyer Orientation Sessions
Attending an orientation session is the first step in the Habitat homebuying process. Our Mortgage Services team will discuss how the program works and answer your questions. Make plans to attend and share this information with a friend! 
 
Where: Benjamin L. Hooks Central Library - Memphis Public Library | 3030 Poplar Ave, Memphis, TN 38111
(In the meeting rooms just to the left when you enter the main entrance of the library.)
When: Wednesday, Sept. 28, 2022 | 1:00-2:00pm

9.14.2022 Update: We are accepting homebuyer applications and will continue taking applications until all of our available homes for 2022 and 2023 have sold. Please review this homepage and the orientation video for more information.

Online Homebuyer Orientation Sessions

ALL applicants must attend an in-person orientation session or watch this homebuyer program orientation video BEFORE beginning the application process. Please watch the video below to learn how the Habitat homebuying process works, then press the button beneath the screen to take the orientation quiz. A member of our Mortgage Services team will contact you after you complete the quiz.


(Once you press play, click either the expand icon or YouTube in the bottom right corner of the window to adjust the screen size.)

Homebuyer Orientation Quiz

Can't access the video above? Click here for a PDF of the presentation.


Individuals and families who are interested in applying for the Habitat homebuying program must meet a number of requirements, which fall into three categories - QUALIFY, PARTNER and PAY.

QUALIFY to buy a Habitat home

Just like a traditional mortgage, applicants must meet various qualifications for Habitat’s program, including having a need for a homebuying opportunity through Habitat. Memphis Habitat looks at four living situations to determine a need for our services:

  • Substandard Conditions
    (structural problems, mold, pests, etc)
  • Overcrowding
    (too many people in one bedroom, using non-bedrooms as bedrooms)
  • Temporary housing
    (living with friends, relatives, coworkers, etc)
  • Cost-Burden
    (spending more than 30% of income on rent)
Other Qualifications Include:
  • Either never owned a home or haven't owned a home in the past 3 years
  • Have not had a home in foreclosure in the past 4 years
  • Be unable to qualify for a conventional loan due to income level
  • Be able to prove ability to afford the monthly payment and household expenses
  • Have fair or passable credit and no judgments or liens
  • Have not declared Chapter 13 bankruptcy in the past 12 months or Chapter 7 in the past 2 years
  • Must have re-established credit from any previously declared bankruptcies

PARTNER with Habitat

  • Complete 350 hours of “sweat equity” by working on their house and other Habitat houses, at the Habitat ReStore and at other area nonprofit organizations. Children can even earn sweat equity hours to help their parents by getting good grades on their report card! Only 30 percent of sweat equity hours can be “donated” by family and friends.
  • Contribute at least $2,000 toward closing costs (can be paid in increments)
  • Build a $1,000 emergency fund
  • Complete the multi-week Habitat Homebuyer Education Course
  • Maintain or decrease your “debt-to-income” ratio while in the Habitat program
Check out the virtual tour of what a completed Habitat home looks like!


(Once you press play, click the expand icon in the bottom right corner of the window to adjust the screen size.)

PAY the mortgage note

Families must have stable, verifiable income sufficient to support a monthly mortgage payment and other expenses and must meet the income guidelines listed below. Habitat serves families earning less than 80% of area median income for Shelby County. Having income within these guidelines does not guarantee eligibility.

Family Size Gross Yearly Income 
 1 $24,800 - $43,050
 2 $24,800 - $49,200
 3 $24,800 - $55,350
 4 $29,400 - $61,450
 5 $34,800 - $66,400
 6 $34,800 - $71,300
 7 $34,800 - $76,200
 8 $34,800 - $81,150

Online Homebuyer Orientation Sessions

ALL applicants must attend or view a homebuyer program orientation session BEFORE beginning the application process. Due to the current health crisis, we are hosting our orientation sessions online. We are taking applications until all of our available homes for 2021 have been sold. Our staff are currently working remotely and are unable to accept dropped off or in person applications. Please review this homepage and the orientation video for more information.


Questions?

Please contact a member of our Family Services team with your questions about Memphis Habitat’s Homebuying program.

Liz Miller, Senior Family Services Manager
lmiller@memphishabitat.com | 901.322.3519

Eula Jackson, Senior Mortgage Services Manager
ejackson@memphishabitat.com | 901.322.3503

Shasta Blue, Mortgage Loan Specialist
sblue@memphishabitat.com | 901.322.3520

Myia Nealy Allen, Mortgage Loan Coordinator
mallen@memphishabitat.com | 901.322.3536


Don't forget...

In-Person Homebuyer Orientation Sessions
Attending an orientation session is the first step in the Habitat homebuying process. Our Mortgage Services team will discuss how the program works and answer your questions. Make plans to attend and share this information with a friend! 
Dave Wells Community Center | 915 Chelsea Ave, Memphis, TN 38107
  • Thu., Aug. 18 from 6 to 7pm
  • Sat., Aug. 20 from 11am to noon
Open House!
Ever wanted to see what a Habitat home looks like in person? Now’s your chance! We're also hosting an Open House on Sat., Aug. 20 from 1-3pm at 709 Pearce St, Memphis, 38107. This is a great opportunity for families interested in the homebuyer program to take a peek at one of our 3-bedroom, 2-bath floor plans. See you there!
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