Applications are currently CLOSED
Thank you for your interest in Lake-McHenry Habitat’s Homeownership Program! We believe that everyone deserves a safe, affordable place to call home—our homeownership program helps make this a reality for more people in our community.
Our program is currently CLOSED, leave your information on our interest list to be notified when applications open again:
How does Habitat work?
Applicants are screened based on the following qualification rubric. Our homeownership team takes each submitted application during open cycles and reviews thoroughly to ensure that the program is a good fit. We strive to set up our homeowners for stable, safe, secure futures in their homes with affordable mortgages that enable families to thrive.
Need for Housing
Households must demonstrate a need for safe, stable, and affordable housing. This need maybe based on one or more of the following conditions:
- Gross household income below 80% of the Area Median Income (AMI) for Lake-McHenry County.
- Cost-burdened housing; paying more than 30% of gross monthly income on rent.
- Overcrowded living conditions; size is inadequate for the present or anticipated residents.
- Unsafe, unsanitary living conditions or located in a particularly unsafe area.
Willingness to Partner
To help ensure a successful homeownership journey, we ask applicants to actively engage with Habitat through the following actions:
- Submit all requested documentation and information promptly.
- Complete pre-purchase financial education.
- Engage in partnership hours–an opportunity to be hands-on in building your home, gaining valuable knowledge and skills.
- Maintain open, honest, and timely communication with Habitat.
Ability to Pay
To qualify financially for Habitat’s Homeownership Program, applicants must demonstrate the ability to pay an affordable mortgage through the following:
- Stable, consistent source of gross income that falls between 50-80% of the Lake-McHenry County Area Median Income (AMI) for your household size.
- Income can come from various sources, including employment, government assistance, pensions or other sources if it is verifiable, reliable and expected to continue for three (3)years. For employment income; must demonstrate two years of consistent employment income with at least six months at the same employer.
- Satisfactory credit history with a credit score of 640 or higher.
- Able to save a minimum of $3,000 to contribute toward closing costs.
- No outstanding liens or judgments.
- At least two years since bankruptcy discharge, with a demonstrated positive payment history.
- Monthly debt payments must be no more than 11% of your gross monthly income.
- Debt includes: credit cards, car loans, student loans, child support, alimony, etc.
- Does NOT include rent or utility payments
- Applicant(s) must be U.S. Citizen or Permanent Resident
Frequently Asked Questions
Yes. In order to qualify for the Habitat homeownership program, your household income must be between 50% and 80% of Area Medium Income (AMI) as established by the U.S. Department of Housing and Urban Development (HUD).
The 2025 Income Guidelines are:
| Household Size | Minimum Annual Income | Maximum Annual Income |
| 1 | $ 42,000 | $ 67,200 |
| 2 | $ 48,000 | $ 76,800 |
| 3 | $ 54,000 | $ 86,400 |
| 4 | $ 59,950 | $ 95,920 |
| 5 | $ 64,750 | $ 103,600 |
| 6 | $ 69,550 | $ 111,280 |
| 7 | $ 74,340 | $ 118,960 |
| 8 | $ 79,150 | $ 126,640 |
No. Habitat requires that you live in your home. You cannot rent out the home or move out and let others live there instead.
As long as the residence serves as your primary residence, you may also run a business out of your home.
Absolutely! We encourage you to reapply if your circumstances have changed.
We want to hear from you. Don’t hesitate to email our Homeowner Services Department with any further questions at: homeownership@habitatlmc.org
Thank you for your interest in partnering with us!
