Credit Score — A minimum FICO credit score of 600 is required. If an applicant has no score, they will have the opportunity to prove credit worthiness through the alternative sources listed below.

Credit Tradelines — Habitat requires a positive 12-month payment history for at least 3 of the following accounts: rent, utilities, auto loan, credit cards, or other bill payments. Please note those paying little to no rent will be asked to provide evidence of readiness for a mortgage payment through savings or other positive financial management.

Collections/Judgments — Collections and charge-off balances or other old debt balances on credit reports and any outstanding judgments must be less than $2000 at the time of application and must be capable of being resolved before the purchase of the home (approx. 6-9 months after application).  An additional $2000 of medical collections may be allowed if making payments on these.

Bankruptcy — Bankruptcies must have been discharged or dismissed for two years at the time of application.

Debt Ratio — The total of all monthly loan payments, including estimates for deferred student loans and the future mortgage, must not exceed 41%.

Budget Impact — Habitat will evaluate an applicant's monthly net income to determine if it is sufficient for the future home expenses and the applicant's other expenses. We want our homeowners to be set up for success not stress!

Savings — Applicants must be able to save approximately $3,000 for closings costs within approximately 6-9 months from application.  Applicants will have the opportunity to participate in an optional matched savings program provided by Pinnacle Financial Partners who will contribute up to $1,000 towards applicant's closing costs if all program guidelines are met.

Applicants generally meet the housing need criteria if their household income is below the maximum limits announced prior to each application round, and they are unable to purchase an affordable home through the traditional housing market. Additional priority is given to those who meet specific grant and funding eligibility requirements for available homes. Eligible applicants with a household member who has special needs that could benefit from Habitat’s home features may also receive priority.

Eligible applicants should not have owned a home in the last three years or experienced a foreclosure in the last four years (exceptions may be granted for disaster victims).

Habitat of Greater Nashville builds affordable homes in Davidson, Cheatham, Dickson, Robertson, and Wilson counties. Individuals who have lived or worked in these or neighboring counties for the past six months are eligible to purchase an available home in any of the listed counties.

Those interested in purchasing a home outside of these counties are encouraged to contact the appropriate Habitat affiliate: