By GABRIELLA DRAGONE
PATERSON, NJ – Paterson Habitat for Humanity is now accepting applications to purchase two-family homes located at 213 Governor Street and 65 North 5th Street in Paterson.
The applications will only be accepted between May 1 to May 31 at 3:00 p.m. Only completed applications, which will include required documents, will be processed beginning June 1. If Paterson Habitat has more applicants who qualify than homes available, applicants will be selected through a lottery.
Those interested can visit their website at patersonhabitat.org/homesforsale to download the application as well as get more information.
“The application is open to anyone who meets the requirements,” Sara Ruiz, Communications Manager at Paterson Habitat for Humanity said. “These homes were previously constructed with the help of volunteers and Paterson Habitat homeowners.”
Both units have open floor plans with a kitchen, dining room and living room. The unit on Governor Street has three bedrooms, two bathrooms and a garage and utility room for both the Owner unit and the Renter unit. The unit on North 5th Street has three bedrooms, 1.5 bathrooms, and garage and utility room for both the Owner and Renter unit.
Buyers minimum income to afford is $65,000 with a minimum credit score of 660. The applicant must be able to obtain a prequalification from a mortgage lender within 15 days of receiving a notice of eligibility from Paterson Habitat. A down payment of 3% and 5% is required.
Paterson Habitat requires:
- First time homebuyer
- Low-income, owner-occupied with low-income rental unit
- All residing in the home must be legal residents of the U.S.
- Household income meets minimum/maximum limits
- Housing expense ratio less than 30%
- HUD homeowner landlord education completed by closing date
- Willingness to partner with Paterson Habitat.
Although any income-eligible households may apply, preference will be given in this order:
- Paterson residents/workers
- Passaic County residents
The sales price for both homes is $300,000.
This is the first time Paterson Habitat is offering two-family homes, where they typically offer single-family homes.
“This is an excellent opportunity to own a home with an affordable mortgage,” Ruiz said.
Currently, Paterson Habitat is in the predevelopment stage of building a new community park on Clinton Street. They are also involved in a Lead-Free initiative in Paterson.
In addition to managing the Lead Free New Jersey initiative, Paterson Habitat sponsors youth development programs such as Street2Street Paterson/CUMAC, Boys and Girls Club of Paterson and Passaic, Paterson Explorers Post #1, community gardens such as Green Acres Community Garden in the Fourth Ward, Grace Chapel Church and Humble Beginnings Community Gardens in the Northside, and public parks where they developed the Reverend Dr. Martin Luther King, Jr. Park in the Fourth Ward.
They also distributed food during the first year of the pandemic with the Passaic County Social Justice League and organized the Fourth Ward CPTED Committee with Councilwoman Ruby Cotton and, separately, the Northside Coalition resident organization. They have also partnered with St. Paul CDC to offer Northside residents construction job training, as well as partnered with the United Way of Passaic County and others to support the Financial Empowerment Center counseling resource.
Paterson Habitat for Humanity has plans for much more, including the creation of a waterfront walkway along the Passaic River in the Northside and a county-wide home repair program, officials said.