Affordable Homeownership – Habitat for Humanity

Homeownership

Habitat for Humanity of Cape May County builds homes in partnership with qualifying partner families and the community. We then sell the homes with an affordable mortgage to partnering families and equip them with the knowledge and tools to be successful, long-term homeowners.

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.

Affordable Homeownership Program

To find out more about the qualifications and requirements for partnering with Habitat Cape May’s Affordable Homeownership Program, see how it works. For information about the process of becoming a homeowner through a partnership with Habitat for Humanity of Cape May County, see steps to homeownership.

Ready to get started?

Homeownership Program FAQs

If you do not find answers to your questions below, please call us at 609-463-0244 ext. 77

How do I get a house?

First, it’s important to know that Cape May County Habitat for Humanity does not give houses away. We provide a hand up rather than a handout. Therefore, each applicant must agree to partner with us in the program, which includes providing all documentation needed as well as attending homebuyer education classes and working 300 hours of sweat equity. Basic requirements to own a Habitat home are provided in the application package.

How much will my mortgage cost?

We provide the opportunity for affordable mortgages through third-party lenders that will entail monthly payments that are no more than 30% of your income, which includes principal, interest, taxes and insurance.

What are sweat equity hours and how many do I have to work?

Sweat equity is the Habitat for Humanity term for partnering with us in the process to create homeownership for you and for others. Habitat Cape May requires each Habitat partner (future homeowner) to complete 300 hours of sweat equity helping build their home or the homes of others. The pace at which you work off your hours is entirely up to you and your family. In general, the process takes approximately 12-18 months. In some cases, alternate volunteer projects can be completed in place of building.

Are the houses free?

Cape May County Habitat for Humanity does not give houses away. We provide a hand up rather than a handout. Therefore, each applicant must agree to partner with us in the program, which includes paying a 30-year affordable mortgage.

Do I have to be a first-time homebuyer?

You do not have to be a first-time homebuyer, but you cannot have owned a home within the previous three years.

What if I am over the income requirements?

If you are over the income requirements and still qualify for a mortgage, the opportunity to buy on the open market might work for you.

What if I am under the income guidelines?

If you are below the income guidelines specified by Habitat Cape May, we refer you to housing agencies who specialize in your area and you would not meet the criteria. Dial 2-1-1 for more information on other housing options.

Can I sell the house?

All Habitat homes are sold with deed restrictions that limit to whom the home can be sold and at what price. Our program is a long term partnership with the intention of keeping our homes affordable for the long-term – a mission in which our families are truly partners.

Can I rent to other people?

No, Cape May County Habitat for Humanity homes must be owner-occupied.