Habitat for Humanity Mid-Yellowstone Valley Homeownership Program

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program is a first mortgage for homebuyers in Billings, Montana, administered by Habitat for Humanity Mid-Yellowstone Valley. Habitat for Humanity Mid-Yellowstone Valley sells newly-built homes in Yellowstone County to qualified low-income partner families with a 0% interest mortgage and no required down payment. Buyers must demonstrate housing need, complete 12-24 months of sweat equity and financial education, meet HUD Yellowstone County low-income guidelines, and have lived or worked in the county for at least a year. The no-interest, affordable structure delivers deep ownership assistance in lieu of a down-payment grant. 0% interest mortgage. No down payment required. HUD Yellowstone County income guidelines. ADA-accessible new homes. Sweat-equity path to ownership. Funding comes from Habitat for Humanity Mid-Yellowstone Valley (donations, volunteer labor, ReStore).

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity Mid-Yellowstone Valley. Repayment is triggered by Affordable 0% interest amortizing mortgage cycled back into the community. The assistance is recorded in 1st position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No fixed minimum; debt load assessed for ability to pay. Active bankruptcy or discharge within past year disqualifies temporarily. A homebuyer education course is required, through Habitat MYV financial education workshops. Residency requirement: Must have resided in or commuted to a job within Yellowstone County for at least the past year. Applications open only 1-2 cycles per year. Sexual-offense conviction disqualifies; violent felony within 5 years disqualifies.

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Uses HUD low-income guidelines specific to Yellowstone County, updated annually; provided on an income chart with application materials. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program can be used for Newly-constructed Habitat single-family homes (one-level, ADA-accessible, attached garage; up to 4 bedrooms). New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity Mid-Yellowstone Valley Homeownership Program serves homebuyers purchasing in Billings, Montana.

Applications for Habitat for Humanity Mid-Yellowstone Valley Homeownership Program go through Habitat for Humanity Mid-Yellowstone Valley, which publishes the current terms and the application steps on its own site. Funds are reserved through Applications distributed/processed only during open cycles (usually 1-2 per year). Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.