Donors and supporters of Habitat make contributions and grants and fundraisers help provide the on-going funds needed to keep the Habitat housing Program going. Houses are then built for people who do not qualify for conventional bank loans. Most labor is done by volunteers and by the families themselves. Each family will contribute a minimum of 250 hours per adult of “sweat equity” toward the construction of their home.
Business people and community neighbors contribute time and materials. When the house is completed, the family assumes a mortgage just like all homeowners. This is an interest-free, non-profit loan covering the actual costs of the house and land.
As payments are made, equity is credited to the buyer over the life of the mortgage. In addition to the mortgage, each homeowner is responsible for the insurance, taxes, utilities, maintenance, and other standard expenses.