Habitat for Humanity of Metro Louisville

Homeownership program: families in need of a decent place to live build safe and affordable homes in partnership with us. Habitat houses are modestly sized. They are large enough for the homeowner's family's needs, but small enough to keep construction and maintenance costs affordable. By using the labor of volunteers and prospective homeowners, employing efficient building methods, keeping house sizes modest, using donated construction materials and appliances, and issuing nonprofit loans, Habitat makes its houses affordable for low income families to purchase. Affordable homeownership helps create the conditions that free families from instability, stress and fear and encourage self reliance and confidence. Studies show that strong and stable households are foundational to child development and growth. When a home fosters instead of hinders health and safety, families can flourish. Owning an affordable home also allows homeowners to lift up their entire family by saving for their futures and investing in educational opportunities, bolstering job opportunities and career growth. During fiscal year 2023, Habitat of Metro Louisville served 131 families with housing solutions including 26 through its long-term homeownership program and 105 through its home preservation program.

Restore program: the purpose is to generate a sustainable source of income for hfhml by diverting usable building materials, furniture and appliances from landfills and selling those donated items to the public. In 2023, we estimate that over 2.1 million pounds of materials were diverted from landfills.

Mortgage discounts: mortgages are discounted using an imputed interest rate that approximates the rate that an independent borrower and lender would have negotiated in a similar transaction. New mortgages equaling approximately 3.1 million were written and entered into in 2023 and were discounted to represent the present value of these zero interest loans. Imputed interest of 7.85% is used for mortgages in 2023.

Home preservation program: our home preservation program is an outreach initiative that seeks to provide a wide range of opportunities for low to moderate income homeowners, including veterans and seniors, who are struggling to maintain their homes because of age, disability or family circumstances. We partner with families to help them reclaim their homes with pride and dignity. The program allows families to stay in their home and avoid the uncertainty, trauma and expense of moving. Projects consist of interior and/or exterior repairs intended to alleviate critical health, life and safety issues or code violations. Volunteer teams work along with subcontractors under the direction of Habitat of Metro Louisville staff members to complete the repairs. In 2023, 105 homeowners were served in our home preservation program. Includes all other program expenses.