What is the Habitat for Humanity Homeownership Program?
Habitat for Humanity provides an opportunity for those in the community who qualify, to buy their own home…
Habitat sells houses at prices LOWER than market value, making no profit.
- … with an affordable mortgage …
Habitat offers very affordable financing, again making no profit.
- …from a solid, reliable partner.
Lafayette Habitat for Humanity has built over 100 homes
in Lafayette Parish and Vermilion Parish since 1992!
What Does a Habitat Partnership Look Like?
Once an applicant is selected into the Habitat for Humanity Homeownership Program, they become a Habitat Future Homeowner. At this point, the Future Homeowner begins working on their partnership requirements of our program, including completing Sweat Equity work and attending homeownership education classes. These requirements take our Future Homeowners an average of 12 months to complete.
Once requirements are complete, and the construction of the home is finished, Lafayette Habitat for Humanity then sells the home to the Future Homeowner at no profit, financing the sale with an affordable mortgage loan. Currently our Habitat homes average about $90,000 in price.
Because Habitat builds homes with a mind toward affordability, Habitat homeowners have more limited choices about their homes than someone buying from a traditional home builder. While Habitat homeowners are able to choose things like the paint color of the outside of the home, the homeowner will have limited choices about things such as the location of the home or the number of bedrooms and bathrooms.