What it takes to qualify
Do you meet the requirements and are you ready for Square Foot Ministry homeownership?
Requirements
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Be a first-time homebuyer
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Meet Square Foot Ministry income guidelines and credit standards (See chart below)
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Not currently in bankruptcy or filed for bankruptcy within the past 4 years
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Acknowledge and accept the responsibilities of homeownership
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Contribute at least 220 hours of work toward the construction of Square Foot Ministry homes
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Be able to make an $800.00 initial payment
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Homeowner must currently be employed on a full-time basis with the same company for at least 3 years​
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Review Income Guidelines & Credit Standards below
Income Guidelines
The SFM Guidelines and Credit Standards are based on information from the Department of Housing and Urban Development. Applicants should closely meet the following income guidelines to qualify:
Square Foot Ministry reserves the right to review/change these guidelines at any time.
Family Size
3
4
5
6
Min. Monthly Gross Income
$3,000
$3,000
$3,500
$3,500
Max Monthly Gross Income
$5,000
$5,000
$6,000
$6,000
Min. Annual Gross Income
$36,000
$36,000
$42,000
$42,000
Max Annual Gross Income
$50,000
$60,000
$70,000
$70,000
Credit Standards
Worried about your credit? Square Foot Ministry does not require perfect credit. We consider families who demonstrate the ability to make regular payments on their bills.
If you meet the above and answer “yes”, we can explore future homeownership with you. We will be evaluating the following items:
Need
If you live in poor-quality housing or you are overcrowded in your current living situation, then you could qualify for our homeownership program.
Willingness to Partner
If you are willing to complete a minimum of 220 hours of “work equity”. We believe people need a hand up, not a hand out so your investment and participation are an important part of our homeownership process.
Work Equity
The work equity process is where Square Foot Ministry partner families start to volunteer and work on other SFM homes, home repair projects, and especially their own house.
Employment
Homeowner must currently be employed on a full-time basis with the same company for at least 3 years.
Credit and Background Checks
Full credit reports and background checks will be conducted. Must not have any outstanding judgments, liens or warrants.
Application Process
The application process has several steps. You must complete and return the application along with other requested documents.You may be asked to provide additional information and participate in interviews with representatives from Square Foot Ministry.
Decision-making process
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​Our Family Selection Committee (FSC) is made up of committed volunteers who help us make decisions regarding who qualifies for the program.
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We are a Fair Housing Agency, which means we do not discriminate based on race/color, religion, sex/gender, national origin, disability or familial status.
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Our program is open to single parents with children and married couples with children, where the children will be living with the parents in the home.
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The FSC reviews applications and makes recommendations to our Board of Directors for approval to become a Square Foot Ministry partner family.
