Helena Area Habitat for Humanity Mutual Self-Help Homeownership

Helena Area Habitat for Humanity Mutual Self-Help Homeownership is a first mortgage for homebuyers in Helena, Montana, administered by Helena Area Habitat for Humanity. USDA Rural Development Mutual Self-Help Housing program: groups of families build their own homes and neighbors' homes together (65% of labor, min 10 hrs/week). Upon completion, participants purchase the home they helped build with a low-interest income-based USDA mortgage. Financial education required throughout. Below-market income-based USDA mortgage. Sweat equity builds ownership. Financial coaching throughout build. Serves Lewis and Clark County. Funding comes from USDA Rural Development Mutual Self-Help Housing program; Helena Area Habitat donations.

Helena Area Habitat for Humanity Mutual Self-Help Homeownership is a first mortgage and is repaid under the terms set by Helena Area Habitat for Humanity. 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.

Helena Area Habitat for Humanity Mutual Self-Help Homeownership is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Credit reviewed case-by-case; 640+ required for third-party financing. A homebuyer education course is required, through Financial education courses and coaching throughout construction. Residency requirement: Lived in Lewis and Clark County for at least 1 year. Must be cost-burdened or in substandard housing; Lewis and Clark County residency 1+ year; 10 hrs/week during construction; combined monthly debts cannot exceed 41% income.

Helena Area Habitat for Humanity Mutual Self-Help Homeownership limits household income to 80% of the area median income, which varies by county and household size. 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.

Helena Area Habitat for Humanity Mutual Self-Help Homeownership caps the purchase price as follows: Home purchased at completion of build group at low-interest income-based mortgage rate. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Helena Area Habitat for Humanity Mutual Self-Help Homeownership serves homebuyers purchasing in Helena, Montana.

Applications for Helena Area Habitat for Humanity Mutual Self-Help Homeownership go through Helena Area Habitat for Humanity, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact form; notified when accepting new applications. 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.