What is fiscal readiness?

Partner families purchase homes at zero-interest, long-term loans from Habitat Savannah. To qualify for a Habitat home, the applicant must have the capacity to pay for the home. Habitat considers the following when determining eligibility:

  1. Employment
    • Maintained employment, continuously, for 12 of the previous 24 months before the submission of the application.
  2. Income
    • Earns less than 60% of Savannah's annual median income as a family unit. Click here to verify your eligibility.
      1. Can document, through the submission of verifying information that the total of all family income is below that 60% cap.

      2. Provides documentation for income sources for all family members residing, potentially, in the house including the following:
        1. employment income
        2. public assistance programs
        3. pensions
        4. social security
        5. disability income
        6. child support

    • Has low debt to income ratio
    • Has a bankruptcy that is dismissed for five years for Chapter 7 filings and one year for Chapter 13 filings

Habitat Savannah determines fiscal readiness by collecting and examining the following documents for all family members:

  1. Pay Stub (2 most current pay stubs)
  2. Award Letters (social security, food stamps, TANF, or public assistance of all kind)
  3. Proof of residency (all family members)
  4. Tax Returns (state and federal, last 2 years)
  5. References (landlord and personal)
  6. Employment Verification