If you’re looking for an affordable home, and having no luck, this might be your golden ticket.
Habitat For Humanity Fredericton will be building two homes in Blacks Harbour this summer.
CEO of Habitat Fredericton Mike Ross explains how it works. “We go out and raise the money that we need for materials. For the most part, it’s all volunteer labour.”
However, Ross says, families are not given the house for free, they must buy it from Habitat. He tells us, “The good news is, the houses are relatively affordable because we don’t build palaces by any stretch, and it’s an interest-free mortgage with no down payment.”
He adds a family trying to come up with a down payment is the biggest blockage when purchasing a home, “People can cover the monthly payments to Habitat fairly easily, but for most people, putting together a 20 percent down payment for a traditional mortgage from a financial institution is simply not in the cards.”
If you would like to apply for one of the homes coming to Blacks Harbour, contact Heather Chase at the Village of Blacks Harbour Office by calling 506-456-4870.
