CHARLOTTE — Nearly 200 homeowners celebrated paying off their mortgages last month by burning their papers in a fire pit thanks to Habitat for Humanity.
[ Habitat for Humanity provides assistance to families struggling with mortgage payments ]
The organization hosts the traditional event every two years.
For years, Habitat has been able to offer affordable mortgages priced below market rate to people living between 40% to 80% of the area’s median income.
That is how Habitat can keep mortgage payments low.
The average loan amount was nearly $65,000.
it takes the average Habitat homeowner a little over 17 years to it pay off.
VIDEO: Woman thanks volunteer for Habitat home nearly 40 years later
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