top of page


In order to be eligible for homeownership through Homestead’s program, you must:


  • Be A First Time Homebuyer—Do you now or have you owned a home anytime in the past three years?


If "yes", you are NOT eligible. If "no", keep reading.


  • Be Income-Eligible—Is your gross (before taxes) annual income less than the maximum income listed on the right for your household size?

    • Income from all household members over 18 years old should be included.​

    • Household members are the people who would live in the home if you were to buy through Homestead's program. 


If "no", you are NOT eligible. If "yes", keep reading. (If you are close to the limits or are not sure AND meet all the other requirements, keep reading.)

  • Does your household make more than $50,000 per year OR have more than $20,000 to spend on the purchase of a home?

    • The minimum annual income that can afford the monthly housing costs of an average Homestead home is $50,000, unless you have a significant savings available for a downpayment (e.g. $20,000 or more).


If "no", you are NOT eligible. If "yes", keep reading.


  • Are you able to Contribute at least 1% of the Home's Purchase Price or $2,500 (whichever is greater) to the down payment. 

    • You must also spend all but $10,000 of your liquid assets (checking and savings), if you have that much, on the home purchase. For example: homebuyers with $15,000 in their checking account will be required to make a $5,000 downpayment.

If "no", you are NOT eligible. If "yes", keep reading.

If you are still reading than you should be eligible for our program. To start receiving notifications of homes for sale submit the Eligibility Form. 

When you apply for a specific home you must also be able to Qualify for a 30-year fixed rate mortgage or ITIN mortgage or Halal home financing through a participating lender. Homestead provides our participating lender list to top applicants when they are selected for a specific home. See the steps to apply for a home in the Finding Your Home section. 

Individuals in your household
Yearly Gross Household Income (before taxes) cannot be more than
Monthly Gross Household Income (before taxes) cannot be more than:
bottom of page