Program areas at Habitat for Humanity of Greater Chattanooga Area
The largest portion of hfh-gc's program is the process of home building. This includes land acquisition and development, home design and construction, volunteer management, and related efforts that are involved in the creation of affordable homes that are sold at completion to qualified families through zero percent interest loan support and at no profit.
The third largest portion of hfh-gc's program covers the process of recruiting and identifying potential Habitat partner families, and working with them through the Habitat application process, a comprehensive home ownership education program which includes courses on home maintenance and on financial management, and follow up support once they are living in their new home. This support spans the 30+ year life of their Habitat zero-interest mortgage.
The second largest portion of hfh-gc's program is the restore operation. Restore helps recycle new and used cabinets, appliances, lighting, hardware and other items donated by Area businesses and individuals into the community, while generating funds to support Habitat's work in Chattanooga.
Zero interest loans are extended to partner families at a discount far below market rate mortgage costs, allowing partner families to stretch precious resources. Mortgage discounts are expensed and amortized on those mortgage loans that are held in-house, rather than being sold to asset recovery programs like Tennessee housing development agencies new start program.