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Frequently Asked Questions (continued)
Are Peninsula Habitat's homes given to families?
No. Our families invest a lot of effort into their dreams, including putting 500 hours of "sweat equity" into building their own homes and participating in homeownership preparedness training. They purchase their homes with no down payment, and a zero-interest mortgage structured never to exceed one-third of their monthly income. Families' mortgage payments include the principal, insurance, taxes and Homeowners Association dues. Most mortgages are for 20-30 years.
To learn more about Peninsula Habitat's family selection process, click here.
How does affordable, homeownership impact low-income families? And the local community?
With an affordable zero-interest mortgage structured never to exceed one-third of their monthly income, our families are able to free up more income for other critical needs, such as better child care, health coverage, or the opportunity to send their children to college. Neighborhoods that welcome Peninsula Habitat benefit, too. As our families invest their time, energy and resources into their new homes, the surrounding neighbors experience a renewed sense of stability, goodwill and neighborhood pride. In the communities where we've built, our 100 homes have come to mean improved communities and increased property values.
Where is Peninsula Habitat building now?
Currently, Peninsula Habitat is building four homes in South San Francisco and another eight homes will get underway soon in Redwood City.
Who builds Peninsula Habitat's homes?
Individual volunteers, faith organizations, businesses and corporations, schools and civic groups as well as AmeriCorps members provide 90% of the labor, working side-by side with Habitat families who each contribute 500 hours of "sweat equity" or volunteer time. It takes approximately 5,000 hours to build a home.
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