Home Buyer Program

Applicants must demonstrate a NEED for adequate housing due to any of the following situations:

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• Housing costs (rent = utilities) exceeds 30% of gross monthly household income

• Housing is subsidized or transitional

• Housing is structurally substandard, unsafe, or unhealthy

• Housing is over-crowded

• Housing is inaccessible or does not meet the needs of individual family members

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Applicants must be comfortable with a monthly mortgage payment of $700 to $1,300 (payments are determined by household income) and must have enough income through stable employment or other forms of permanent income to afford a home and all basic living expenses.

 

• Income includes all wages, unemployment (only if related to regular, seasonal employment), social security, pension/or disability. Self-employment income is defined as the “Net Profit” [line 31, Schedule C (1040)].

• Income can also include child support, kinship care and other types of income which is received on a regular basis and is needed to cover monthly expenses. All income sources are included when they are expected to last for 3 years or longer.

 

2024 Income Guidelines are based on family size and 30%-80% of the median income of Oshkosh-Neenah-Menasha residents in 2024. Gross annual income must be at or above the minimum and at or below the maximum.

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Credit History does not need to be perfect, but score must be above 525. Many applicants have some debt. It is important for applicants to know how much is owed for the total amount of debt to be manageable. Applicants may obtain a free copy of their credit report to ensure all credit is reported accurately at www.annualcreditreport.com.

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• All collection debt must have proof of active payment plans or be paid in full

• Judgments for money must be satisfied [according to Wisconsin Circuit Court Access at wcca.wicourts.gov]

• Bankruptcy or foreclosure must have been satisfied for at least 2 years

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Willingness to Partner

Applicants must be willing to work in partnership with Habitat to ensure positive and active involvement in the Homebuyer Program. Applicants must be willing to complete 200 to 400 hours of “Sweat Equity” by attending classes and workshops, working at the Habitat ReStore, participating in Habitat or ReStore events, and working on active build sites.

 

Accommodations for health and employment issues will be made on a case by case basis.

 

Additional Applicant Requirements

 

• Applicant(s) must be US Citizen or permanent resident.

• Applicant(s) must live or work in Oshkosh/Omro/Winneconne for at least 6 months prior to program application.

• Married couples must apply jointly since Wisconsin is a marital property state.  

• All adult household members (over 18) must sign a general release for a background check and other verification necessary to determine eligibility.

• All adult household members (over 18) must comply with sweat equity requirements unless they are a full-time student.

• All adult household members (over 18) must have a criminal background check clear of recent and/or serious convictions as determined by Habitat staff on a case by case basis. *Habitat is unable to serve applicants if any household member is a registered sex offender.

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