DOWNPAYMENT
ASSISTANCE
In
addition to the services listed below, homeWORD partners with other non-profit
organizations and local government agencies
who offer down payment assistance or low-income loans.
MISSOULA
HOME$TART PROGRAM
Through partnerships with
local participating lenders, homeWORD has helped hundreds of families
achieve the dream of homeownership through
the
Home$tart Program, a savings program to help low-income families
save for down payments. For every dollar participants save, the Federal
Home Loan Bank of Seattle matches it with an additional $3, up to
a $5,000 grant.
Qualifications
for Home$tart
1. Be a first-time homebuyer
2. Actively save for at least 6 months
3. Save $1,667 & qualify for a mortgage
4. Complete a certified homebuyer education course
5. Have a stable income at or below the following limits (Missoula County):
1 person-31,000
2 people-35,450
3 people-39,850
4 people-44,300
5 people-47,850
6 people-51,400
7 people-54,950
8 people-58,550
6. For counties
other than Missoula determine limit for “low income” per
household size at http://www.huduser.org/Datasets/IL/IL05/mt_fy2005.pdf
If
interested in applying to the Home$tart program call homeWORD
at 532-HOME or contact kathy@homeword.org and
ask for an application.
BILLINGS
REACH FOR THE DREAM PROGRAM
Downpayment assistance program
offered to St. Vincent Healthcare employees and funded by St. Vincent
Healthcare and Wells Fargo Housing Foundation. Started in the summer
of 2004, 5 families have participated in the program and 1 family has
successfully purchased a home!
Contact darrell@homeword.org for
more information.
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