How Does Habitat Homeownership Work?
- Habitat homeowners purchase their home directly from Habitat for Humanity of Ventura County through a zero-interest loan.
- All Habitat family-partners are required to invest 250-500 hours of sweat equity during the construction of their home and the homes of other Habitat families.
- Habitat homeowners build equity through owning their own home.
- Homeowners’ monthly mortgage payments are used to build more Habitat homes!
What are the qualifications?
Applicants must meet one or more of the following housing situations to qualify:
- Living in substandard housing – structurally unsound or dilapidated housing; broken plumbing; faulty wiring, poor heating, leaking roof, etc.
- Cost-Burdened – rental payments are 33% or more of your total income.
- Overcrowded – adult and child/children share a bedroom; more than two children share a bedroom; two children of opposite sexes share a single bedroom.
Applicants must also meet the following requirements:
- Legal U.S. Resident and resident of Ventura County for at least one year
- Demonstrate stable income
- Able to afford a monthly mortgage payment
- Unable to qualify for a conventional mortgage
- Earn between 30% and 50% of the Ventura County’s median household income (see income grid below)
- Willing to complete 250-500 hours of sweat equity, partnering with Habitat and volunteers to help build your home and other Habitat homes; participate in homeowner education classes
These restrictions provide rights to the city of Oxnard in regulating the sale and transfer of the subject property for a period of thirty (30) years from the date of the first sale of the affordable housing unit, including an option to purchase the property.
Habitat for Humanity is pledged to the letter and spirit of US policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there is no barrier to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin.