Over the past few days with recent news, we’ve had an increase in questions about the Habitat for Humanity program in Southern Alberta, so we wanted to take this opportunity to provide the following information to you, as loyal friends and supporters.
Has Habitat for Humanity Southern Alberta changed its mortgage model?
No; Habitat for Humanity in Southern Alberta continues to offer a no down payment, interest-free mortgage.
Changes to other Habitat for Humanity affiliate's mortgage models do not affect Calgary or Southern Alberta.
Is Habitat for Humanity the same in every community?
No; Habitat for Humanity’s mission to help families build strength, stability and independence through affordable home ownership is the same in every community.
However, the way that local Habitat affiliates address the need for affordable home ownership is different and is customized to meet local needs.
Mortgage models, funding models, qualification criteria, and more, are all dependent on the local needs and economy.
How does Habitat for Humanity Southern Alberta ensure it’s financially stable?
We’re fortunate to have a diverse set of supporters like you. This includes sponsors, donors, event participants, Build Day groups, legacy donors, and more.
We’re also fortunate to have a thriving social enterprise in our ReStores, which contribute significantly to our administration costs and generate nearly $1 M for Habitat each year.
In addition, every Habitat homeowner’s mortgage payments in Southern Alberta are put into our “Fund for Humanity” and are used to help more families through Habitat.
Funding from municipal, provincial and federal governments also contribute and vary, depending on the year and the project.
This diversity allows us to be financially stable and sustainable and continue to help families, even through tough economic times.
How do homeowners qualify to buy Habitat homes in Southern Alberta?
Habitat homeowners qualify to buy a home through Habitat based on several factors, including a demonstrated need, ability to pay an affordable mortgage, and a willingness to partner with Habitat.
Some of the key criteria include full-time employment history, income levels, debt levels, Canadian Citizenship or Permanent Residency, and more. You can view all of the qualification criteria here.
At Habitat for Humanity Southern Alberta, we have been a key contributor to building stronger communities for 30 years.
By offering a no down payment, interest-free mortgage, we’ve been able to help 300 families enter the housing market and build long-term stability – that’s more than 900 children who benefit from a safe home and a firm foundation.
Thank you for helping to make this dream a reality for so many families and for your continued support!