Homeownership
Attention
Thank you for your interest in our homeowner program. The 2025 application window is now closed, but we invite you to fill out our homebuyer interest form to receive notifications when the next application period begins.
Homeownership Information
Pikes Peak Habitat sells homes at no profit with affordable mortgages tailored to qualified homebuyers. Each home is designed to fit families of all sizes, with mortgage terms up to 30 years and payments capped at 30% of the household’s gross monthly income—an investment in your family’s future. We typically select 8–10 homebuyers per year.
Selection Committee Information
The selection of families to purchase homes from Pikes Peak Habitat for Humanity is done by a Family Selection Committee in a way that does not discriminate because of race, color, religion, sex, handicap, familial status, sexual orientation, age, gender identity, or national origin. Pikes Peak Habitat does not discriminate if all or part of an applicant’s income is derived from public assistance programs.
Program Qualifications
Need
A need for housing can take many forms, such as living in temporary housing, paying more than 30% of your income on rent, feeling unsafe in your neighborhood, or living in overcrowded or unsanitary conditions.
Please note that individuals who currently own a home or have owned one in the past three years are not eligible to purchase a Habitat home. This excludes mobile or trailer homes from that criteria.
Ability to Pay
Habitat is a mortgage lender. It is the responsibility of Pikes Peak Habitat for Humanity to ensure that applicants are capable of repaying a mortgage without a significant cost-burden to the applicant.
Income Requirements
Applicants’ gross household income must fall between the minimum and maximum income requirements for their household size. The gross monthly income of all household members over the age of 18 should be included to determine the household income.
Applicants must show that their income source has been consistent for two years prior to applying. Applicants using income from employment cannot have more than a three-month gap in employment in the past two years. Employment must be within the same field or line of work. Additionally, income must be reasonably estimated to last at least three years into the future.
Willingness to Partner
Partnership is a key component of Pikes Peak Habitat’s homeownership program and the organization as a whole. In order to build homes, Habitat partners with homebuyers, donors and volunteers. In a partnership, each partner makes a contribution.
Partnership Requirements
Each Pikes Peak Habitat homebuyer contributes 200 hours of sweat equity, or volunteer time, towards helping to build their home alongside Habitat staff and volunteers.
Habitat homebuyers also complete mandatory homebuyer education classes and submit to a monthly financial review while their home is being built.
Glenda’s Story
“I can have a garden, and I can plant flowers! My daughter will have a beautiful place to go outside and read, because that’s what she loves to do.”
After years of raising her children as a single mother and living in unstable housing, Glenda finally found hope through Pikes Peak Habitat for Humanity. For Glenda, this home represents more than just shelter—it’s a fresh start.
Bedroom Policy
Habitat builds homes based on the size and needs of each family, following a clear bedroom policy to ensure comfort and privacy. The number of bedrooms a family qualifies for is determined at the time of application.
Each household member will have their own room, with no more than two people per bedroom. Children of opposite genders or with an age gap of more than five years will not be required to share a room.
Credit Check
Habitat will conduct a credit check to look for outstanding debts, collection accounts, open judgments and recent bankruptcies. Credit scores are not considered.
Credit Check Requirements
Bankruptcies must be discharged two years prior to applying, and no unsatisfied/outstanding judgments may appear on the applicants’ credit. Any evictions, foreclosures or repossessions must be at least three years old at the time of application.
Total collections may not exceed $2,500, and all collection accounts must be in a payment plan prior to the future homeowner applying.
Co-signed accounts must demonstrate a 12-month history of on-time payments.
Additional Criteria
First-Time Home Buyers
First-time Applicants may not have owned a house or land for three years before applying (mobile homes excluded).
El Paso County Residency
El Paso County Resident Applicant(s) must have lived in El Paso County for a year before applying.
Citizenship
All family members must be U.S. citizens or Legal Permanent Residents.
Marital Status
Married couples must apply for the program together. Pending divorces must be finalized before applying.
Application Process
The Application Window is Closed
Thank you for your interest in our homeowner program at Pikes Peak Habitat for Humanity. Our current application window has closed, but your journey toward affordable homeownership remains important to us.
We invite you to complete our homebuyer interest form to join our dedicated email list for future opportunities. By doing so, you’ll receive timely updates about the next application period along with helpful resources designed to support your homeownership goals.
Tonya’s Experience
“When you put that out in the world, not wanting anything in return, not thinking of anything, it kind of comes back around full circle.”
Tonya’s journey with Pikes Peak Habitat for Humanity represents a transformation from housing insecurity to the promise of a stable five-bedroom home where her family can thrive. Through perseverance and the support of Habitat volunteers, Tonya’s eight-year-old daughter’s Christmas wish for a home has become a reality.
Homeownership FAQs
Q: How are families selected?
A: Individuals are selected for Habitat’s homeownership program based on their ability to demonstrate that they meet three main criteria – an ability to repay a mortgage, a willingness to partner with our organization, and a current need for housing. In order to determine if an individual meets these criteria, an application must be completed and submitted to Habitat during an open application cycle.
Q: When are applications accepted?
A: Applications are typically accepted once a year. If more home slots become available throughout the year, additional application cycles may be opened. To stay updated on application cycles, complete the Homebuyer Interest Form.
Q: What if there are more applicants than homes available?
A: If applicants can demonstrate that they meet all criteria, but there are more applicants than home slots available, applicants are prioritized based on their need for housing. If an applicant is denied because there are not enough homes available, the applicant is welcome to apply in the future. Habitat cannot keep a wait list.
Q: If I apply and my application is denied, can I apply at a future date?
A: Applicants are welcome to apply as many times as they would like. If an application is denied, the applicant will be offered guidance on what items could be corrected for a stronger application in the future.
Q: How long does it take to purchase a Habitat home?
A: The process of building and purchasing a Habitat home takes anywhere from twelve to eighteen months from the time that an applicant is approved to participate in the program. For this reason, Pikes Peak Habitat for Humanity cannot address immediate or emergency housing concerns.
Q: What is the cost of a Habitat home?
A: Habitat sells houses for market value, which cannot be determined until the house is complete. Home prices vary depending on location and housing market conditions.
Regardless of the sales price of the house, Habitat is committed to keeping housing payments affordable. Habitat homeowners’ mortgage payments will be capped at 30% of their household gross monthly income at the time of sale. This monthly amount will include the mortgage payment, homeowners’ insurance, property taxes and HOA dues (if applicable).
Q: What is the length of a Habitat mortgage?
A: Habitat mortgages will be paid back between fifteen and thirty years. The length of the loan is dependent on the sales price of the home and the household’s income at the time of sale.
Q: Do applicants get to choose where they live?
A: Habitat builds homes throughout El Paso County on properties that it currently owns. Each application cycle, the location of homes available will be announced. If an individual chooses to apply during an application cycle, they are applying for a home that is available in that specific application cycle. Home locations cannot be traded once an applicant has started the program.
Q: Do applicants get to choose the design of their home?
A: Habitat is not a custom home builder. A standard floor plan is used in each of our neighborhoods.
Q: How does Habitat determine what size home a household will receive?
A: A bedroom policy is used to determine the house size received by each household. The policy states that no more than two individuals will share a room, children of opposite genders will not share a room and children more than five years apart in age will not share a room. If children are the same gender and less then five years apart, they will share a room. Homes are not built with extra bedrooms. They are built to accommodate current family size.
Q: Can the home be sold?
A: Habitat homes can be sold. Like any home, there are times when it is more advantageous and times when it is less advantageous to sell the home. Typically, the longer a homeowner stays in the Habitat home, the better the outcome of selling the home.
Habitat homes will be sold with a Right to Repurchase and Shared Appreciation Agreement. This means that the owner must offer Habitat the right to repurchase the home before it can be sold on the open market. A Shared Appreciation agreement gives Habitat shared equity in the appreciated value of the home. This agreement allows Habitat to be a faithful steward of the time and money donated to ensure that Habitat homes stay affordable.
Q: Can Habitat homes be rented?
A: Habitat homes cannot be rented. The owner must be the primary occupant for the life of the loan.
Q: How are Habitat homes kept affordable?
A: Pikes Peak Habitat for Humanity uses a variety of methods to ensure that all homes are kept affordable for home buyers. Habitat works diligently to create partnerships with corporations, faith entities, government, and individuals to raise funds for each home built. Habitat uses a combination of staff and volunteer labor to help construct the home. Habitat seeks grant funding to help subsidize mortgage costs