habitat for humanity canada

How Affordable Ownership Works: Habitat for Humanity

In Canada by Jessica_Speziale1 Comment

Habitat for Humanity Canada is a non-profit organization working across the country towards the goal of providing everyone with a safe, decent place to live.

How it works

Habitat creates affordable ownership housing to low-income households using a volunteer-based model.  Partner families (those eventually moving into a home) commit 500 volunteer hours to building a home, and Habitat brings in additional volunteers and donated materials.  Once the home is built, the family moves in and pays a monthly no down-payment, no-interest mortgage on the house set at 25-30% of the family’s gross income.  (Housing is deemed affordable in Canada if it costs the inhabitant no more than 30% of his/her income.)

All mortgage payments are re-invested in the program to build more homes for Canadians.

How to get involved

Habitat’s homeowner selection is based on the applicant’s level of need, willingness to become a partner in the program, and ability to repay the no down-payment, interest-free, geared-to-income mortgage.  Check out their website for more information.

More than 50,000 volunteers work with Habitat every year.  Learn more about volunteering here.

 

Comments

  1. TheRedPin

    Habitat for Humanity is an amazing organization doing great things, thanks for sharing this.

    Also great to know what affordable housing means: “Housing is deemed affordable in Canada if it costs the inhabitant no more than 30% of his/her income.”

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