Becoming a Buyer-Ready Applicant

Aside from having a need for decent, affordable housing and a willingness to complete 500 hours of sweat equity, partner families must have the ability to pay a mortgage of approximately $700-$750 per month. An applicant family who has smaller amounts of non-medical debt and a positive payment history is better able to handle the financial responsibilities of homeownership.

For applicants who have a poor payment history or large amounts of non-medical debt, the best way to prepare for homeowership is by completing the following steps:

Check your credit report
If you have not looked over your credit report in the past year, get a free copy from http://www.annualcreditreport.com/. If you detect fraud or misreported accounts, contact the credit bureaus immediately.

Pay down debt
If you have outstanding unsecured debt (credit cards, student loans, lines of credit), try to pay down some of the higher balances. If possible, do not incur any new debt (for example, do not open department store accounts or reply to credit card offers.)

Pay bills on time
Even if you have financial blemishes in your past, our finance team will be able to rate your application higher if you have been paying your bills on time. Over the next few months, make this a top priority!

Avoid collections
If you have creditors and collections agents calling you, don’t avoid them. Try to workout a payment plan to avoid having negative marks on your credit report. If you have accounts in collections, try to reconcile them.

Have “the ability to pay”
"Buyer-Ready” applicants have the ability to pay approximately $700-$750 per month plus utilities for their Habitat home.

Collect your documents
When you apply for homeownership, Habitat for Humanity of East King County will ask you for copies of birth certificates, driver licenses, residency cards, divorce decrees, parenting plans and three years’ tax returns. If you do not have these documents readily available, you should request them from the appropriate agencies. If you need assistance with this, contact your caseworker or the Habitat office at 425-869-6007, ext. 237.

Start saving
If you don’t have any money saved, start small. Put away $5 or $10 each month in a savings account. Check with your caseworker or a local social service agency to see if you qualify for an IDA (Individual Development Account.)

Stay connected to Habitat for Humanity
You may learn more about Habitat for Humanity of East King County and meet some of our partner families throughout our web pages. Check back before the end of the year to see when our next set of family information meetings will be held.

Questions?
We're here to help you! Contact Emily Fortman, Family Services Manager, at efortman@habitatekc.org.

Happy Thanksgiving from the staff of Habitat for Humanity of East King County. We are thankful to have you as part of our family.

Habitat staffers, family members and AmeriCorps team members attended an eco -charrette as part of the Issaquah Highlands project preparation. "Charrette" is the word for the small carts used by art students in 18th century France to transport their final projects for grading to their professors. As the cart was moving down the street students would be adding new ideas to their work. Hence the modern charrette, which brings together many people working on the project to brainstorm and share ideas. In this case, discussion centered on green building and was facilitated by Vicki Colgan, Regional Coordinator for Sustainable Building with the Department of Ecology for the State of Washington. Partners included Brad Liljequist from Z-House, a zero energy house project, and Issaquah Highlands architect, John Lane. The discussion was rich and much was learned about the growing field of green home building. Thanks to everyone who participated!

During their lunch break, the AmeriCorps team at Koinonia Ridge noticed that the town of Snoqualmie needed help to prevent flooding from the steadily rising Snoqualmie River. Immediately, the super heroes raced over to the town center to assist in filling sandbags for all members of the community to use. Thanks for making Habitat proud, AmeriCorps!

As Board of Directors member Johnson Marshall put it, "You always have to find the silver lining." With that in mind, experts from fields such as finance, policy, housing and development gathered for an informal brainstorming session on November 11th to discuss how Habitat EKC may benefit from the current economic climate. Animated conversations flowed while Board members, Advisory Council members and other friends of Habitat shared ideas for ways to acquire affordable land to build new projects for deserving families. Thank you to all who participated.

The Northwest Real Investors Association will be hosting an auction to benefit Habitat EKC on Saturday, November 22 beginning at 6:00pm in downtown Seattle at Bell Harbor Waterfront Center. This event is open to all with tickets ranging from $125 for individuals to $1200 for a table. Auction items include:

• Air Combat Mission USA – Realize your dream of flying in a real fighter jet with a trained fighter pilot!
• African Photo Safari – Spend 6 days and nights in Southern Maputaland on a private game reserve where animals roam free!
• Bali Experience – Spend 8 days and 7 nights in Bali complete with spa treatments and Balinese cooking classes!

To purchase your tickets to the event, please contact Helen Howard at helen@nwria.com or visit www.nwria.com for more information. You can also reach an auction representative at: 206-498-2350. Proceeds will benefit Habitat EKC!

Are you interested in owning a decent, affordable home in Issaquah Highlands? If so, check back with Habitat for Humanity of East King County in late December or early January for dates and locations of family information meetings. Applications for homeownership will be distributed to qualified applicants at the meetings. For more information, contact Andrea Parsek, Family Services Coordinator, at aparsek@habitatekc.org or call 425-869-6007, ext. 238.

Two more Habitat homes will be dedicated at 3 p.m. Saturday, January 10, 2009 in our Koinonia Ridge development in Snoqualmie. Join us as we celebrate homeownership for the Willhight-Harris and McKenzie-Munro families. For more information, contact Emily Fortman, Family Services Manager, at efortman@habitatekc.org.

The 2008-09 AmeriCorps continues to amaze us with their limitless effort and energy! In addition to making safe, affordable housing a reality for families in need, they are also recruiting a group of 20 or more youths between the ages of 11 and 14 for a program called "Roadmap to Civic Engagement," designed to teach the values, history and actions that shape our country and empower them through the completion of their own community service project. Roadmap will take place in the spring (March, April & May) and consist of 7 workshops, 2 hours in length focused on developing a sense of the value of being active in their community. If you know any youth groups or individuals that would benefit from this program, please contact Elise Cope, AmeriCorps & Volunteer Manager at elise@habitatekc.org.