Homeownership
Buying a home in partnership with Habitat for Humanity of Cape May County is a unique and exciting opportunity.
We build high quality and energy-efficient homes with hardworking, low-income families and the community and then sell the homes at no profit with an affordable mortgage to Habitat families, whom we have prepared to be successful homeowners.
Habitat for Humanity of Cape May County partners with families to be successful homeowners through educating families on how to pay for their homes, maintain their homes and connect with their community. We require our families to take our homebuyer education classes on topics ranging from finance and budgeting to home repair and maintenance.
Downloads: Pathways Presentation Transcript + Pathways Presentation Slides
Why Rent When You Can Own
As rent continues to rise, Cape May County Habitat offers your family the stability of a home of your own with an affordable mortgage to help you achieve not only the dream of homeownership but the other dreams you have for you and your family. Homeownership improves educational outcomes and health. It offers you the opportunity to be a part of a neighborhood and a community. It gives you a chance to build your savings and a financially secure future.
We are there for you every step of the way to make sure you’re ready to purchase and stay in your home for many years to come.
Steps to open the door to affordable homeownership with Habitat for Humanity of Cape May County.
Step 1. Do you qualify? Cape May County Habitat builds houses along with families who demonstrate a need for housing, the ability to pay a mortgage and also a willingness to partner.
Step 2. Once the application cycle is open, download a copy of the application on our website or request one at homeownerservices@habitatcapemay.org.
Step 3. Evaluate your family’s financial preparedness for homeownership, including credit history, debt, and income.
Step 4. Return the mortgage and Habitat application, completed in full, to the address listed on the How Do I Apply? page. Be sure to keep a copy for yourself.
Step 5. If you do not meet minimum financial qualifications, we will refer you to a HUD Certified Housing Counselor who will give you guidance to create an action plan to help you prepare for homeownership.
Step 6. For those that meet the initial criteria, a random lottery selection is held. The application in the first position will be further reviewed for eligibility (more documentation may be requested at this time) and if they meet the criteria, will secure the opportunity to purchase a home. If they do not make it through, the application in the second position will then be further reviewed, and so on.
Step 7. If everything is in order and the application is fully approved, a meeting to review the Partnership Agreement will be held to begin the journey toward homeownership.
Step 8. Once approved, the applicant will begin homebuyer education classes and work to complete the 200 hours (minimum) of sweat equity. Sweat equity is an exciting learning experience in which the homebuyer works to build a Habitat home (as well as conduct hours at the ReStore and other Habitat events and activities).
Step 9. Construction on the home may already be in progress or might start shortly after selection. Either way, the homebuyer will be informed of all opportunities to participate in earning sweat equity hours.
Step 10. Once the house is finished, Habitat will hold a Home Completion ceremony to celebrate the occasion inviting the homebuyer, volunteers, staff, board members, neighbors and local officials.
Step 11. The transfer of the property (the closing) usually takes place shortly thereafter which is when the homebuyer becomes a homeOWNER!
Partner families are expected to remain engaged with Cape May County Habitat’s mission by staying in good communication, making timely mortgage payments, and assuming an active role in their neighborhoods and participating as mentors to new families entering the process. The application process takes roughly 2-4 months and the sweat equity requirement typically takes 6-12 months. On average it takes about 12-18 months to complete the entire homeownership process, from the date of the application to the house closing. In some rare cases, a home may be completed already and the process might be quicker.