Mortgage Ready Pathway
Example Project
Denver, CO
$290,000 to $300,000
10 units
980 – 1,500 sqft
Application deadline – May 6, 2027
About this project
Property Information
- Property info like parking, accessibility, carpet, appliances, unique features
- HOA info- if potential range is available, include
Bedroom Floor Plans
Qualification
- Income restrictions- prefer an income chart to show this range
- Summary of the affordability mechanism
- AMI level
- Resale exepctations/restrictions
Lending Summary
- Lending Summary
- Approved lenders and contact info
Application process for the Mortgage-Ready Pathway:
Step 1: Determine if You're Ready
1. General Requirements
Must live or work in the Denver Metro area (Arapahoe, Adams, Denver, Douglas, or Jefferson)
Must be employed for a minimum of 24 months
Must be a first-time homebuyer*
Must not be a registered sex offender
Must provide proof of U.S. citizenship or residency status
2. Financial Requirements
Habitat for Humanity does not act as the lender in the Mortgage-Ready pathway. While lending criteria can vary between institutions, here are some factors that can help demonstrate responsible financial behavior:
- On-time and consistent credit and bill-paying history
- A credit score of 620 or higher
- A savings reserve
- Little to no debt in collections
- No bankruptcies, or at least 36 months have passed since the bankruptcy was discharged
3. Income Requirements
To purchase a Habitat home, you must make less than 80% of the Area Median Income (AMI).
Your income level is based on your household size. To qualify for a Habitat home, you must make less than the amount listed below for your household size:
- 1 Person Household – $72,950
- 2 Person Household – $83,400
- 3 Person Household – $93,800
- 4 Person Household – $104,200
- 5 Person Household – $112,550
These are the maximum household incomes allowed. Note that while these represent our most common household sizes, Habitat Metro Denver serves households of up to 10 when homes are available.
Step 2: View Homes for Sale
Visit the home’s MLS listing page or request a showing
Step 3: Contact a Lender
Once you have decided that you meet the program requirements, reach out to one of our mortgage lenders to get started on your loan pre-approval. Your lender will assess your income and debts to determine how much you can afford.
Step 4: Receive an Invitation to Apply
If you meet the requirements, you will receive an invitation to apply via email. In the application, you will:
- Receive a link to our application packet and document request
- Have five business day to return the complete packet and provide the requested documents
- Have your application reviewed by our team to verify income and confirm household size
- If you meet all the qualifications, a selection letter will be sent officially entering you into our program. Congrats!
Step 5: Complete Partnership Requirements
Once you have been selected to purchase your home, you will be required to complete a homebuyer education course and a program orientation.
Sign your contract, finalize your mortgage loan, and close on your home!
For questions about applying, please contact our team.
Homeowner Services