Your starting monthly house payment, including taxes and insurance, is made affordable. We ensure that it does not exceed 30% of your gross monthly income.
You receive one-on-one financial coaching to help you budget for your future home and to prepare you financially for homeownership. Other group classes will help you learn various aspects of home maintenance and preparation for homeownership. We want you to be a successful homeowner!
Throughout your partnership, you will work closely with our staff, as well as community volunteers. You will receive invaluable experience as you work the sweat equity hours on the construction sites. Your participation in the construction or rehabilitation of Habitat homes will equip you with skills that will help you maintain and repair your home in the future.
Habitat staff remains available to provide you with resources and assistance after you purchase your home. We are your lender, and we remain your primary contact for any questions or concerns related to your home loans.
Habitat for Humanity of Greater Sioux Falls has been building or rehabilitating homes in our service area since 1989. As of 2019, we have built or rehabilitated over 160 homes! This means 160 families in our community (254 adults and 645 children) have been impacted by the work of Habitat for Humanity. Habitat’s standards meet ENERGY STAR ratings, meaning that our homes are energy-efficient as well as affordable.
When a Habitat home is sold to a homebuyer partner, the appraised value of the home becomes the sales price of the home. In recent years, Habitat homes in the Greater Sioux Falls area have appraised from $120,000 to $193,000 depending on the location of the property and the style and size of the home (new construction, rehab, twin home, single family, etc.).
Habitat is the builder, the seller, and the lender for the real estate transaction. Habitat finances the sale with affordable loans. The homes are built or rehabilitated with volunteer labor, under the supervision of Habitat staff. Habitat adjusts the loan types and/or the loan terms to ensure that the starting monthly house payment does not exceed 30% of the applicants’ gross monthly income.
Habitat for Humanity of Greater Sioux Falls serves Minnehaha, Lincoln and Turner counties, but can only build where land is owned by Habitat. Each construction season is different in the Habitat program, and there is no guarantee of a particular home location, type or style. Lot assignments are made solely by Habitat, based on secured funding and the available inventory. All homes sold by Habitat must meet construction standards set by Habitat International. In order to keep homes affordable to build and to purchase, construction options are limited. Habitat is not a custom builder and cannot build to the preferences of the applicant.