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Local leaders joined together with Milwaukee Habitat for Humanity to raise the first wall of the non-profit’s 2022 build season. Mayor Cavalier Johnson, Dan Bader, CEO of Bader Philanthropies, Inc., State Representative Kalan Haywood, Alderwoman Milele Coggs and volunteers from Milwaukee Tool were on hand to begin construction on the first of Milwaukee Habitat’s 2022 new, affordable homes. Milwaukee Habitat breaks down the barriers to homeownership for first-time buyers in need of affordable housing.
To celebrate the beginning of Habitat’s 37th year building in Milwaukee, Mayor Johnson joined speakers and volunteers in raising the first wall of Harambee’s newest home. Through Milwaukee Habitat’s affordable homeownership program this home, and other Habitat homes in the neighborhood, are being sold to local families in need of affordable housing. The average monthly mortgage payment for a Habitat home is $600-$800 per month.
“Homeownership brings stability, it brings pride, it brings a sense of accomplishment for families in our community,” said Mayor Johnson. “We need more owner-occupied homes in our neighborhoods.”
Milwaukee Habitat’s program provides an alternative to the skyrocketing cost of housing in the city. While the average cost to rent in Milwaukee is more than $900 per month, the average cost to own is more than $1600 per month. Due to this high cost of housing, the majority of Milwaukee Habitat homeowners spend less on their mortgage for a brand new Habitat home than they had been paying to rent.
Through Milwaukee Habitat’s affordable homeownership program, no down payment is required, closing costs are low, and the home loan will not exceed 30% of a family’s income – widely recognized as the threshold for affordable housing.
Habitat homeowners help build their own homes alongside volunteers. Home maintenance and financial education courses are also included as part of the program to help first-time buyers transition from renting to ownership.
Habitat is accepting applications for individuals who are interested in becoming first-time homebuyers in 2022. More information is available at milwaukeehabitat.org/housing.