Homeownership Program

Since 1981, Habitat El Paso has built dozens of homes in the county. Habitat believes in giving a hand up, not a handout. This is because, contrary to popular belief, we do not give homes away. We sell our homes at cost, with a no-interest, 30-year, fixed rate mortgage. We also add a second mortgage for the difference between the cost of the home and its actual value. However, if the homeowner makes timely payments for 10 years, the second mortgage is forgiven.

To qualify, families must be living at or below the area median income with a debt-to-income ratio under 40%. Each family's background is then presented to a Home Selection Committee made up of Habitat Board Members. They decide which family has the most urgent need.

Once selected, families must complete 300 to 400 sweat equity or volunteer hours on their own home build, those of other habitat families, or at our Habitat ReStore.

Research has shown that children of homeowners are generally more academically successful and more likely to acquire a post-secondary education. It is not surprising that homeownership breaks the cycle of generational poverty.

Not only is homeownership beneficial to the family in the home, it also allows for more flexible income for the homeowner and contributes vastly to the local economy.