Habitat for Humanity of Greater Memphis Homebuyer Program
Funding status: Active
How much assistance
Affordable home purchase with zero-interest mortgage (Zero-Interest Loan)
Eligibility
- Income limits: Below 80% of Area Median Income (AMI)
- First-time buyer required: Yes — First-time homebuyer.
- Geographic restrictions: Greater Memphis area.
- Homebuyer education required: Yes
How to Apply for Habitat for Humanity of Greater Memphis Homebuyer Program
Step 1: Apply through the Habitat for Humanity of Greater Memphis website during open application periods. Must complete multi-week homebuyer education program. Buyers must contribute $2,000 toward closing costs and save for an emergency fund.
Notes
Since 1983, Memphis Habitat has partnered with over 600 homebuyers with zero-interest mortgages. Homes are sold at fair market value based on appraisal. The zero-interest mortgage makes monthly payments more affordable for families below 80% AMI.