From: Fred H Olson (fholsoncohousing.org)
Date: Tue, 20 May 2008 15:14:37 -0700 (PDT)
joanne baek <joannebaek [at] yahoo.com>
is the author of the message below.
It was posted by Fred the Cohousing-L list manager <fholson [at] cohousing.org>
--------------------  FORWARDED MESSAGE FOLLOWS --------------------

Habitat's requirements do not include that you have exhausted your assets,
in fact a certain amount for a down payment is needed, and they want to
feel that you can handle your monthly finances once you move in.

I have not applied to Habitat before as I understood their required income
range to be above mine.  Imagine my surprize when I learned that in my
area, or rather on one project north of here, the range was dropped to
between $8000 a year and $14000 for one person this year.  Hey!  That's
me!  I did apply and am waiting to hear.

I think the question was also asked a few days ago about getting morgages
for Habitat houses.  Actually, I believe Habitat carries those morgages
themselves, and at no interest.  Yay Habitat!  It really would be lovely
to have Habitat help with a low cost, small house, cohousing project!!!!


~~~~~~~~~~~~~~~~~~~Marganne wrote:

There are a variety of different levels even to low cost housing
qualifications. Even though I'm disabled on a fixed income, I don't
qualify for many available assistance programs because I have more
than $3,000 in assets.

There's a growing number of people like me who are caught between
'levels' of low income. If you have any assets, they must be 'spent
down' before you can qualify.

I haven't checked specifically into Habitat to see if its
requirements are the same as most I've looked at. It's possible the
requirements there are different. Right now I've run out of energy to
get details about more housing programs.


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