Qualifications for Homeownership Program

Need
Potential qualifications of need:

• Overcrowding 

• Structural deterioration 

• Excessive housing cost (eg. over 30% of your monthly income)

• Safety concerns of living in a high crime area 

• Substandard, inadequate housing 

• Other 

 
Ability to Pay 

• Credit score must be over 620 

• Must provide proof of consistent employment for the past 12 months 

• Must provide proof of consistent rental history in Holland for the past 12 months 

• Debt to income ratio under 43% (after adding 30% for a mortgage)

• Legal residents of the United States

• Within income guidelines for household size:​ 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

Willingness to Partner

• Able to save and pay $4000 down payment by closing

• Contribute 250 sweat equity hours per adult

• Meet regularly (minimum of monthly) with Homeowners Services Coach 

• Mortgage approval/denial- $235,000  (not a qualification but is part of the application)

• Take required classes