Your donation enables Habitat OGN to build safe, decent and affordable homes, providing a hand up to working, low-income families. We keep the cost of building these homes low by using volunteer labour, wherever possible, and by seeking donated building materials. We also work with cities, companies and the province to secure affordable land, whenever possible.
Habitat homeowners build and pay for these homes. Habitat homeowners are identified based on need and ability to pay an affordable no-interest mortgage over a 20-year term, based on the full market value of the home. Families are also required to complete 500 volunteer hours, where they volunteer their time to help build homes and support the mission of Habitat for Humanity OGN.
Mortgage payment rates are assessed every year with families, with mortgage payments never exceeding 30% of their monthly income to ensure that they can afford food, transportation and other essentials. These mortgage payments go into a fund that helps us build more homes for other families.
Through this unique Habitat for Humanity affordable home ownership model, families are able to build enough equity in their home over time to qualify for a traditional mortgage with a major lender. Studies have also shown that the stability and security a Habitat home provides often translates into increases in the families’ incomes, enabling them to save for their children’s post-secondary education, take out a business loan or borrow from a traditional mortgage lender. Through our work, Habitat OGN is able to help these families break the cycle of poverty – both today and for future generations.