Murfreesboro, TN –Rutherford County Area Habitat for Humanity (RCHFH) will open Homeownership Applications May 2 through June 3 and encourages families and individuals who earn low-moderate incomes to apply. Selected applicants will start their 2022 Financial Literacy and Homeowner Education Program in September and be eligible for houses built at RCHFH’s Legacy Pointe subdivision in the fall, winter and spring of 2022-23.
Habitat Future Homeowners earn 40-80% of the Area Medium Income (AMI) and often do not qualify for a traditional mortgage. Many low-moderate income families are cost-burdened and spend over 50% of their monthly income on rental housing alone. Through the Habitat program they buy their home with a low-interest mortgage, acquire wealth equity and their monthly mortgages are often much less than their current rental housing.
Habitat Future Homeowners complete Pre-Purchase and Post-Purchase Financial Literacy and Homeowner Education, plus 300-400 hours of sweat equity. Through the program they learn how to manage their money, lower their debt, create household budgets, make good consumer choices, and be prepared to maintain their home for many years. The program also includes nutrition and health, legal and family issues and help by area experts in subjects such as banking and insurance. Most Habitat Homeowners remain in their homes through the life of the mortgages.
The Financial Education and Homeownership Program follows the National Industry Standards for Homeownership Education & Counseling and is presented by Dominion Financial Management, Inc. Area experts also teach classes in their field, including nutrition specialists from the University of Tennessee Agricultural Department. Funding for some of the program comes from a grant from the Blue Cross Blue Shield of Tennessee Foundation. Companies and groups can also sponsor the Future Homeowner Program.
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Information about the Homeownership Program, including qualifications and process, is at: https://www.rchfh.org/homeownership/ . The site will be updated with the link to download or request an application. During the open application dates, potential applicants can also stop by the Habitat office to pick up an application: 850 Dr. Martin Luther King Jr. Blvd. RCHFH can do presentations for companies and groups, in person or via Zoom, for employees interested in applying. RCHFH is an Equal Opportunity Fair Housing Lender and does not discriminate against anyone based on a person’s race, color, religion, gender, disability, national origin, age, sexual orientation, gender identity, veteran status, military service or other characteristics identified as being protected by applicable federal, state or local laws.
Legacy Pointe currently has 14 houses and will eventually have 77 new homes for low-moderate income families and individuals. The impact of homeownership on Habitat homeowners is great, including better health and more access to medical care, better career opportunities and promotions, better school attendance and grades for children, fewer allergies and respiratory illnesses, less surrounding criminal activity, lower dependence on municipal and government services, greater involvement in the community and neighborhood, and the family pride that comes with homeownership. For instance: children of homeowners are 116% more likely to graduate from college.
About Rutherford County Area Habitat for Humanity (RCHFH)
Rutherford County Area Habitat for Humanity, a non-profit, non-denominational Christian housing ministry, seeks to bring people together to build homes, communities, and hope. This is done through building quality, energy-efficient, affordable houses while partnering alongside working families. Homes are built by RCHFH construction staff, Future Homeowners, and community volunteers. After a home is completed, it is sold to the family at no profit with an affordable monthly mortgage.
