Habitat for Humanity outlines home-ownership model to Mayne trustees
At a special meeting, representatives described income-tested mortgages, resale terms and possible timelines for homes built through the program.[^1]
The Mayne Firestarter · Governance · 2023-04-19 · updated 2026-10-09 · Mayne Island
Habitat for Humanity representatives told the Mayne Local Trust Committee that its model provides affordable home ownership, not rental housing, and that participants take on an independent mortgage alongside an interest-free second mortgage from the organization.[1]
The minutes say monthly payments are income-tested and the mortgage will not exceed 30% of a family’s income.[1]
Representatives said participants must be employed, fall within a certain wage bracket and complete 500 volunteer hours; friends and family can complete 100 of those hours.[1]
The minutes say that in the Victoria CRD, applicants must have lived on the island for at least two years and the home’s cost cannot exceed $400,000.[1]
Representatives said prefab homes can take 6 to 8 months, while new builds can take around 18 months to become available.[1]
Sources
-
Mayne Local Trust Committee Special Meeting Minutes, April 19, 2023
The HH model provides affordable home ownership, not rental housing
link checked · passage found in the document we hold