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How much are the monthly mortgages of Habitat for Humanity homes?

2007-06-25 11:44:30 · 3 answers · asked by Anonymous in Business & Finance Renting & Real Estate

3 answers

Habitat houses are sold to partner families at a no profit cost and with a zero interest loan, so it depends on where you are to determine how much the cost of the home. Here in the United States it's probably around $60,000. Also it depends on what the family chooses for their mortgage length, it varies from seven to 30 years. The longer you choose to pay off your home the lower your payment will be. The homeowners’ monthly mortgage payments and donations are used to build more habitat houses.

2007-06-30 14:42:11 · answer #1 · answered by gloria 2 · 0 0

Volunteering is always a good idea. It benefits yourself, your community, and perhaps a person /family directly as is the case with Habitat for Humanity. You will learn as you go and there is always a need for general labor.

2016-04-01 04:16:44 · answer #2 · answered by Anonymous · 0 0

afaik, zero.

of course, taxes and insurance still have to be paid.

***
oldest son and his son helped build a few up the coast a ways two years ago. All the labor was donated. The land was donated. I think most of the building materials came from money donations.

There are conditions to getting such a home .. the ones I know about include sweat equity [you and your family have to help build it], and inability to resell it for an extended period [I heard a rumor of 15 years] except to H4H and for their price.


I could be wrong, too ... might be worth checking up on if you or a loved one is chronicly poor.


GL

2007-06-25 11:55:05 · answer #3 · answered by Spock (rhp) 7 · 0 0

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