Allen Lodge No. 1435 A. F. &
this year is the North Collin County Habitat For Humanity
You can check
them out @ North Collin County Habitat For
Navigate to the
Volunteer tab to sign-up.
If you are able bodied, and even if you are not,
but have the desire to help a great
charity and make a huge difference in a family's life,
this is for you!
Please include the following information when
(Click on Waiver to download the document)
Please indicate if you are volunteering in
conjunction with any of the following and provide the name:
(Use Allen Lodge
No. 1435 as the Club)
If you are volunteering as
part of a Group, please provide the Group Contact’s name and phone number:
______________________________________ Phone: ________________________
Russ Waite as the Group's Contact Name and a Phone Number
Please let Russ
Waite know you are signing-up as a Lodge Volunteer!
Q. The number one misconception is that we (Habitat) build homes and GIVE them to poor people.
A. NO, we help them build a home and they buy it with a mortgage just like you.
Q. Well, then what about property taxes and insurance? They probably don’t pay those, right?
A. YES, they do, and they are escrowed as part of their payment, just like you.
Q. If they pay for it with a mortgage, how do poor people come up with a down payment?
A. A typical family must volunteer 500 “sweat equity” hours, working on their own home and homes of other families, in order
to secure a home.
They do need to have some cash available at closing. Just like you.
Q. Maybe they are poor because they don’t know how to manage money. How will they stick with a mortgage payment?
A. Many are financially illiterate, but all must attend a financial education class where the foundation for good budgeting practice
Q. A typical new house with 3 bedrooms and 2 bathrooms is about $150,000 today. How is that “affordable”?
A. Because of all the volunteer labor and many donations of materials, a typical Habitat home in McKinney “costs” about
$75,000, so that’s what their mortgage is based on.
Q. Well, if it’s worth $150K on the open market, what would prevent them from “flipping” the house?
a. Habitat provides the mortgage and a “silent second” mortgage. The silent second is the difference between the market value and
the sales price.
b. The silent second is amortized along with the regular mortgage as long as the payments are made.
c. No payment is required on the silent second, however it is ‘called’ if the homeowner sells or defaults.
Q. Since Habitat carries the mortgage, they probably don’t need to qualify like a typical bank, right?
A. NO, they must qualify like you and I would. Verifiable job with history, good credit and income sufficient to pay the loan and
under the strictest standards.
Q. Since the buyers are low income, does Habitat charge excessive interest rates on the mortgage?
a. NO, Habitat charges ZERO INTEREST on the loan, usually for 20 years of amortization. As prices go up, a 30-year loan is
b. Doing the math, a typical house payment for them is about $550, PTI.
Q. Jimmy Carter started Habitat, right?
A. NO, Jimmy Carter did not, however he is a big supporter and volunteer and his celebrity aids in awareness for the program.
Q. I must be a skilled tradesperson with tools in order to volunteer.
A. NOT AT ALL. We have all the necessary tools at every build site and experienced leaders to teach you the tricks of each