Habitat for Humanity of Missoula Homeownership Program

Habitat for Humanity of Missoula Homeownership Program is a first mortgage for homebuyers in Missoula, Montana, administered by Habitat for Humanity of Missoula. Habitat for Humanity of Missoula builds and sells newly-constructed homes at cost to partner families with a 0% interest mortgage structured to be no more than 30% of monthly income. Applicants must earn roughly 40-80% of area median income, have lived/worked in Missoula County for a year, demonstrate housing need, and complete 500 hours of sweat equity. It functions as deep down-payment/affordability assistance through the no-interest, at-cost sale. 0% interest mortgage. No cash down payment. Home sold at cost. Payment capped at ~30% of income. Sweat-equity path to ownership. Funding comes from Habitat for Humanity of Missoula (donations, volunteer labor, ReStore).

Habitat for Humanity of Missoula Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Missoula. Repayment is triggered by Affordable amortizing 0% mortgage; payment no more than 30% of monthly income. 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 of Missoula Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No published minimum; ability to repay an affordable mortgage is evaluated. A homebuyer education course is required, through Habitat for Humanity of Missoula homeownership classes. Residency requirement: Must have lived or worked in Missoula County for at least one year prior to applying. Applications accepted only during an annual open period.

Habitat for Humanity of Missoula Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Habitat seeks family partners earning approximately 40-80% of area median income (fluctuates annually). 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 of Missoula Homeownership Program can be used for Newly-constructed Habitat single-family homes. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity of Missoula Homeownership Program serves homebuyers purchasing in Missoula, Montana.

Applications for Habitat for Humanity of Missoula Homeownership Program go through Habitat for Humanity of Missoula, which publishes the current terms and the application steps on its own site. Funds are reserved through Open application during a set period each 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.