top of page
Untitled design-55.png

Two-Family Homes for Sale
65 North 5th St., Paterson
5 Garfield Ave., Paterson

Both units in each home include:
3 bedrooms, 1.5 bathrooms
One unit includes a garage
Eligibilty
Income Guidelines
Selection Process

Eligibility: 

  • Minimum income of $70,000.

  • Household income meets maximum limits.

  • A suggested credit score of 660.

  • Housing expense ratio of less than 30%.

  • Must be able to obtain a pre-qualification from a mortgage lender within 10 business days of random selection notification.

  • Have not owned a home in the past 3 years.

  • The home must be owner-occupied.

  • The rental unit must be a low-moderate income rental; estimated $1,650 per month.

  • All residing in the home must be legal residents

  • of the United States.

  • Must complete HUD homeowner and landlord training by closing date.

  • Willing to partner with Passaic County Habitat.

Income Guidelines: 

Family Size
Maximum Income
6
$110,550
5
$102,950
4
$95,300
3
$85,800

Selection of Buyer(s): 

01

Pre-application.

02

Random selection.

03

If randomly selected, seek mortgage approval.

04

Submit required documents.

05

Await review.

06

Receive decision lettter.

07

Submit purchase contract.

08

Secure lawyer, insurance, appraisal, title, survey, & mortgage commitment.

How to Apply:

If you are eligible please follow the pre-application process:

  • Download the application or request one to be mailed to you by calling (973) 595-6868 ext 113.

  • Submit your completed pre-application to applications@habitatpc.org.

  • Completed pre-applications may also be dropped off Monday to Friday from 10am to 4pm at the Passaic County Habitat office, 146 North 1st Street, Paterson.

Pre-applications will be accepted
January 9, 2023 to March 3, 2023 at 3pm.


Only fully completed pre-applications, will be processed beginning March 6, 2023. If we have more applicants who qualify than homes available, applicants will be identified through a random selection process.

Information Sessions & Open Houses:

During our information sessions we will discuss the details of the two homes for sale, the pre-application process, how to qualify and how to submit your pre-application. Open Houses will be held at both location so that you may tour the homes for sale. Please register below. 

Virtual Information Sessions:

  • Thursday, January 19th (6:30pm)

  • Thursday, February 2nd (6:30pm)  

Open House: 

  • Saturday, January 21st (1-3pm) at 65 North 5th Street

  • Saturday, February 11th (1-3pm) at 5 Garfield Avenue

Required Documents:

Once you receive notice of eligibility through random selection please provide Passaic County Habitat with copies of the following (we do not accept originals):

  • Pre-approval from lender.

  • Copy of credit report for applicant and co-applicant.

  • Copy of last four (4) or six (6) pay stubs. If self–employed, provide last two (2) quarters of profit / loss statements for ALL household members. They must be consecutive.

  • Two (2) years federal AND state tax returns (w-2 forms attached) for household members 18 years and over.

  • For all household members provide: 

    • Copy of most recent consecutive savings and checking account statements (3 months).

    • Copy of most recent pension statement, if any.

    • Verification of supplemental income if any, i.e.: child support, social security.

    • Child support – court judgment or current 6 months check stubs

    • Social security – current statement of benefit letter

    • Other – provide evidence of any other benefits

    • Letter from employer stating length of service and salary (on employer letterhead) for all household members and if overtime is mandatory or voluntary if applicable.

    • Social security card(s).

  • Additional information may be required upon request based on your personal situation.

List of Lenders for Affordable Mortgages:

You may secure your pre-approval and financing from any bank of your choice; however, the following lenders have special mortgage products for Affordable Housing. We will not entertain pre-approvals from other lenders unless they review and approve the deed restrictions.

Columbia Bank
Steve Goldenberge | Office: (201) 845-6419 | Cell: (201) 264-6966 |
Email: Sgoldenberg@columbiabankonline.com | Website

 

Columbia Bank
India Delgado (spanish-speaking) | Cell: (201) 687-9667 | Email: idelgado@columbiabankonline.com

 

Loan Depot
Lillian Hernandez | Office: (609) 786-1112 | Cell: (609) 414-4955 |
Email: lillianhernandez@loandepot.com | Website

 

M&T Bank
Benjamin Codjoe | Cell: (732) 801-4276 | Email: bcodjoe@mtb.com | Website

 

TD Bank
Jack Granger | Office: (973) 903-3252 | Email: Jack.Granger@td.com | Website

Valley Bank
Dino Callegari | Cell: (973) 390-8852 | Email: Dcallegari@valley.com | Website

How to Apply
Info Session & Open Houses
Required Documents
List of Lenders

Questions?

Contact our Homeowner Services Department.

973-595-6868 ext 113

bottom of page