Qualifying income maximums are determined by family size and are up to 80% of Wayne County’s area median income (AMI). These guidelines are adjusted each year and are based on numbers defined by the U.S. Department of Housing and Urban Development (HUD). Sources of income include: employment, social security, disability, child support (that is actually being received), spousal support, pension and self employment/business income.
Applicants must meet the following income limit guidelines:
2016 Wayne County Area Median Income (AMI) Maximums – U.S. Department of Housing and Urban Development (HUD)
SIZE OF HOUSEHOLD
YEARLY INCOME LIMIT – 50% AMI
YEARLY INCOME LIMIT – 80% AMI
∗ One-person families are eligible for one or two bedroom homes, which are not always available.
** Multi-bedroom homes for large families are not always available.
Habitat for Humanity of Detroit reserves the right to revise these guidelines at any time.
Need help calculating your annual income? Click here to convert your hourly wage into an equivalent annual salary.
Click here for an Affordability Calculator that can be used to determine how much you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.
Habitat for Humanity of Detroit does not require perfect credit, however, your credit score must be 550 or above. We consider families who demonstrate the ability to make regular payments on their bills. Any collections, past due accounts, judgments, or liens must be addressed (this will be reviewed in a one-on-one credit meeting with each buyer).
Worried about your credit? We offer credit counseling services to help you understand your score and steps you can take to raise it.
Accepted applicants are also required to make a $2,000 down payment (refundable) prior to the closing of the mortgage.