Habitat Cape May County is opening the application process for a three-bedroom, two-bath home located at 104 East Ocean Avenue, Marmora. This 1,144-square-foot home is move-in ready.

Applications will be available beginning August 14, 2023 through the submission deadline of August, 31, 2023.

A family will be selected based on:

· Need for an affordable and safe homeownership opportunity.

· Ability to pay a mortgage on a Habitat home.

· Willingness to partner with Habitat.

Applicants are required to meet several qualifications to ensure success.

Habitat Cape May Requires the following:

· All residing in the home must be legal residents of the US.

· The mortgage payment is to be at most 30% of your monthly income.

· A 30-year deed restriction on property resale and refinancing.

· A forgivable 30-year silent second mortgage to achieve affordability.

· Household income meets minimum/maximum limits.

Purchase details:

· Ability to qualify for a mortgage.

· Down payment of 3% to 5% is required, dependent on the mortgage product.** some down payment assistance may be available

· $500 acceptance fee refundable upon completion of sweat equity.

Acquiring an Application requires attending a “Pathway to Homeownership seminar”

· Monday, August 14th – 6 p.m. at the Habitat ReStore

· Tuesday, August 15th – 7 p.m. virtual via emailed link

· Wednesday, August 16th – 9 a.m. virtual via emailed link

Please visit https://habitatcapemaycounty.org/homeownership/applynow/ for more details and to register for a mandatory information session.

Completed applications will be screened for income, credit score, and debt-to-income ratio. Call 609-463-0244 for more information.

Email elizabeth.franco@habitatcapemay.org to register