House Reconstruction LoanHome Reconstruction Loan
Those who will be living in our houses (our "house partners") will have to spend up to 500 hour of their free leisure to contribute to the construction or renovation of their own house and others in the municipality. It lowers cost, enhances responsibility and self-esteem, and creates a fellowship. Habitat for Humanity's home partners are investing their own funds at an accessible cost in the projects in which they work.
It could be a nonprofit mortgages or a microloan. Household partners' montly mortgages go into a revving endowment and are used to construct even more Habitat for Humanity homes. However, catastrophic reconstruction programmes are the only exceptions, where the cost is not reimbursed by the house partners if they have become deprived of a livelihood and therefore do not have the means to do so.
The use of volunteer work reduces the costs of constructing a new house. A Habitat for Humanity house in one of the countries is only 3,000 on a country-by-country basis. However, we do not only make it easier to build new houses. Family members in need of adequate housing should contact Habitat for Humanity members.
Member company select committees select house partners according to their needs, their readiness to enter into partnership with Habitat for Humanity, and their capacity to repay non-profit mortgages (except in the event of disaster). Every house partnership sign a contract of contract about the costs of their house or construction work.
Reimbursements are paid into a "revolving fund", which is then used to finance further residential construction or renovation in the municipality. The Habitat for Humanity's interest in the house is safeguarded by a law that - from the fifth year of the mortgages - gradually passes on the house's assets to the host families.
The Habitat for Humanity obligation to donate capital may be waived or waived if there are serious violations of the house partner's obligation under the loan. Every case is assessed by the grassroots communities on their own terms.