Do You Qualify for the Homeownership Program?
Please read the information below before taking the Eligibility Quiz and also to understand our required qualifications.
Determining Your Eligibility
- The Family Services department requires every family to take our “Eligibility Quiz” first to determine eligibility for our homeownership program. You will be put on our waitlist if you match the criteria and are notified that you are eligible for the homeownership program.
- Family Services will only put eligible families on our waitlist, and there are no guarantees when Habitat Saskatchewan will call you to start the next stage of the process – the Full Application stage.
- Applicants moving into Habitat homes must be Canadian citizens, landed immigrants or permanent residents, and have lived in the Saskatchewan region for one year or more.
- At least one of the applicants must be employed full-time and have a stable source of income for one year or more.
- At least one of the applicants must have at least two years of employment history in Canada.
- You and your family must be able to manage debt in a responsible way and have not declared bankruptcy in the last two years (must have been discharged two or more years ago).
- Applicants must have at least one child under the age of 16 years old.
Ability to Pay
- At least one member of the household has stable employment.
- Can afford monthly mortgage payments not to exceed 25% of the family’s total gross annual household income (employment income, disability income, child tax benefits, GST rebates, child support, spousal support, etc.).
- No overwhelming debt (total gross debt ratio should be below 40%; this is based on your income and expenses).
- Household members must meet program asset limits.
- Not declared bankruptcy in the past three years.
- Your employment income is within our income requirements, with income not exceeding $77,500 (the Saskatchewan Housing Corporation determines the maximum income band). Your income must be sufficient to cover the costs of homeownership and other household financial obligations. Therefore, Habitat Saskatchewan will determine the minimum income requirement base.
- Applicants must have a good credit rating with a good standing credit history (no collections or judgements against you).
- You are financially capable of purchasing a home at fair market value while paying mortgage payments over a 30-year period.
Need for Affordable Housing
- Be living in core housing need (overcrowding, unsafe environment, unhealthy or unaffordable).
- Have children under the age of 18 who will benefit from a safe and decent home.
- Experiencing high rental payments (your basic shelter costs are more than 30% of your total household income).
Willingness to Partner
- Each family approved for the Habitat Housing Program becomes partner in our work. Habitat families are our greatest ambassadors and, as such, are asked to help with various initiatives that advance our mission.
- Contribute 500 hours of volunteer work.
- Be an ambassador for Habitat Saskatchewan and represent the mission – this involves (1) understanding and agreeing with our model, (2) speaking about your experience at Habitat Saskatchewan events, in media interviews or in videos to help promote our organization’s work to the public.
- Attend all homeowner education classes.
- Commit to Habitat Saskatchewan’s partnership agreements, mortgage documents, and policies.