Some Important Information about Partnering with Habitat for Humanity to Purchase a New Home

Successful partnerships are built upon honesty, trust, mutual respect, and a cooperative, willing attitude. A successful partnership between HFHMGC and Partner Families also requires meaningful communication and an acknowledgment of the rights and responsibilities of each partner.

The responsibilities of the Partner Family (PF) include:

•  Making regular deposits of “earnest money” into an escrow account with the expectation that, by the time of the Act of Sale, they will have saved enough to pay the first year’s insurance premiums and closing costs. (We will go to an Act of Sale if the PF has saved at least 50% of the estimated escrow amount.)
• Complete Sweat Equity (SE) requirements, with emphasis on spending as much time as possible building their own homes; and
• Keeping HFHMGC Family Services informed of any changes in economic circumstances (in particular, the PF will refrain from assuming any additional debt without first contacting HFHMGC Family Services).
• Acceptance and signing of an “Invitation to Partner” which outlines the mutual understanding of both parties regarding the terms of the partnership.

The responsibilities of HFHMGC include:

• Ensuring that houses are built in compliance with appropriate building codes and inspected by county and/or municipal building inspectors throughout the construction process;
• Being good stewards of donated time, materials and volunteer labor in order to keep the price of homes affordable;
• Completing construction on the home in a timely manner;
• Selling the home to the PF at no profit to HFHMGC; and
• Ensuring that the purchase price is financed with a zero-interest mortgage.

The partnership between HFHMGC and the PF continues beyond the Act of Sale. After the Act of Sale, the partner family shall:                                                

•  Make timely mortgage payments;
•  Maintain the home and property upon which it is built;
• Continue community development efforts to improve the neighborhood; and
• Continue to support HFHMGC’s mission to build homes for more Partner Families.
• HFHMGC will continue to be involved in the neighborhoods and communities where Partner Families live.