How is it possible for my family to own a home?

Habitat is not a giveaway program.  Habitat houses are sold to partner families at no profit, financed with affordable, no-interest loans.  Through volunteer labor and donations of money and materials, Habitat builds and rehabilitates simple, decent houses with the help of the homeowner families.

Habitat Homeowners make a down payment and monthly mortgage payments.  Their mortgage payments are used to build still more Habitat houses.  Homeowners also invest hundreds of hours of their own labor -- sweat equity -- into building their Habitat house and the houses of others.

It's a simple formula: we're building houses in partnership with God's people in need.

How does it work?

Currently in 2007, a 3 bedroom home will be sold for $92,000 and a 4 bedroom home will be sold for $95,000.  The monthly mortgage payment amount is $375. This amount includes principal, taxes and insurance, and $15 for major repair reserve in escrow in the family's name.

The mortgage payments are deposited into a revolving "Fund for Humanity" which supports the construction of more houses. 

Does it work?

Habitat for Humanity St. Louis has built more than 200 houses, more than half of them in the past four years.