What It Takes to Qualify for a Square Foot Ministry Home
Do you meet the requirements and are you ready for Square Foot Ministry homeownership?
Be a first-time homebuyer.
Meet Square Foot Ministry income guidelines and credit standards. See chart below
Not currently in bankruptcy or filed for bankruptcy within the past 4 years.
Acknowledge and accept the responsibilities of homeownership.
Contribute at least 220 hours of work toward the construction of Square Foot Ministry homes.
Be able to make a $800.00 for an initial payment at the time of signing sales agreement
Square Foot Ministry 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:
Family Size Min. Monthly Gross Income Max. Monthly Gross Income Min. Annual Gross Income Max. Annual Gross Income
3 $2,200 $3,400 $26,400 $40,800
4 $2,200 $5,000 $26,400 $60,000
5 $2,400 $5,400 $28,800 $64,800
6 $2,550 $5,800 $30,600 $69,600
Square Foot Ministry reserves the right to review/change these guidelines at any time
Square Foot Ministry 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 2-3 years or have a long-term history with a previous employer.
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. We will review the application and documents for completeness. You may be asked to provide additional information and participate in interviews with representatives from Square Foot Ministry.
Decision by Family Selection Committee and Board of Directors - Our Family Selection Committee (FSC) is made up of committed volunteers who help us make decisions regarding who qualifies for the program. 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. 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. The FSC reviews applications and makes recommendations to our Board of Directors for approval to become a Square Foot Ministry partner family.