“We try to look out for our Habitat families so that they don’t have surprises.” “Habitat operates on biblical principles,” Corbin said. But the difference between an average mortgage and one through Habitat for Humanity is that the latter is offered at zero-percent interest. In this most recent example, Stockmaster will be paying for her home with the mortgage. “All of those things make you realize what is coming your way,” Corbin said. Habitat for Humanity’s partner families have to qualify, go through financial disclosure, be willing to put in the sweat equity and have steady jobs. The answer is, “no,” they do not just give them away. One of the most common questions Corbin is asked regarding Habitat for Humanity is if they just give homes away. But a ‘hand-up’ is to help someone else make their life better and we do that.” “A handout is given often to make you feel good when you give it.
“Habitat gives a ‘hand-up,’ not a handout,” said Jan Corbin, board president of Habitat for Humanity of Ottawa County. Instead, Stockmaster has the opportunity to help build her home from scratch, putting in “sweat equity,” as Habitat for Humanity describes it.
As a single parent, she said the typical high-interest rates associated with buying a house and simply not knowing if there could be an important repair or fix required right around the corner that could cost thousands of dollars would be overwhelming.
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