Becoming a Homeowner
Holston Habitat for Humanity brings people together to build homes, communities and hope. Our program uses volunteer labor and contributions of money and materials to build and renovate simple, decent and affordable houses in partnership with individuals and families with limited financial resources in the Tri-Cities area.
Each homebuyer is required to invest Sweat Equity (volunteer labor) into the building of their home and into other Habitat projects, attend Homeowner Education classes, pay monthly installments toward closing costs and commit to long-term saving.
After a homebuyer has earned the minimum hours of sweat equity, successfully completed the Homeowner Education program and saved the minimum amount of closing costs, they will be eligible to select a building lot. Once a suitable property has been selected, the prospective homeowner will be matched with a building group and work alongside volunteers to construct their own home. When complete, they will sign a mortgage and become homeowners!
Houses are sold to prospective homeowners through an affordable, zero interest mortgage. Monthly payments are structured in a way so as to not exceed 30% of a prospective homeowner’s gross monthly income at the time of the closing. Monthly mortgage payments include principal on the loan, property taxes, homeowner’s insurance and a termite contract for the property. Habitat homeowners are responsible for maintaining their homes and each home comes with a limited one-year warranty. Further information is available by contacting the Holston Habitat for Humanity office.
Use the links and resources on the website to explore your options and become familiar with what Holston Habitat for Humanity can do for you.