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Watch: First-time homebuyer orientation with Habitat Orlando & Osceola

Oct 29, 2020

A key on a Habitat Orlando & Osceola keychain

Habitat for Humanity Greater Orlando & Osceola County’s first virtual homeownership program information session is now live! This webinar is perfect for first-time homebuyers interested in Habitat Orlando & Osceola’s program.

Habitat Orlando & Osceola’s Director of Program Services, Liz Alicea-Madera, walks interested homeowners through the program’s criteria, application process, and more in this video.

Some key takeaways include:

  • Eligible applicants need to show that they have: a housing need, the ability to afford their home’s mortgage, and the willingness to partner with Habitat Orlando & Osceola’s requirements, which include contributing sweat equity and taking homeownership classes.
  • When applying with Habitat Orlando & Osceola, applicants are not applying for a rental property – they are applying for a mortgage loan.
  • When thinking of the debt-to-income ratio: On the front end, the future mortgage payment must be no more than 30% of the applicant’s gross monthly income. One the back end, the future mortgage payment as well as any debt required to be paid at the moment (i.e. student loans, car loans, credit cards) must be no more than 43% of your gross monthly income.
  • When working with Habitat Orlando & Osceola, applicants come to a one-stop center. Habitat Orlando & Osceola builds the home, works with partner lenders on their future homeowners’ behalf, and helps obtain down payment assistance.
  • The benefits of owning a Habitat Orlando & Osceola home include: free select appliances, three to four bedroom homes, the opportunity to customize the home, and more.
  • Liz recommends looking at the current Habitat Orlando & Osceola neighborhoods – and their homes via AffordableHomesOrlando.org.
  • Questions? Email Home@HabitatOrlandoOsceola.org to reach out the Program Services team.

The homeownership program’s requirements can also be found on the Criteria page of the Habitat Orlando & Osceola website.

Are you an interested first-time homebuyer who has reviewed this information and is ready to apply? Visit our online Orientation, which will walk you through the program once more before allowing you to apply.