Helena Area Habitat for Humanity Mutual Self-Help Homeownership

What is 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.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from USDA Rural Development Mutual Self-Help Housing program; Helena Area Habitat donations.

Do you have to pay it back?

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.

Who qualifies?

Helena Area Habitat for Humanity Mutual Self-Help Homeownership is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

Helena Area Habitat for Humanity Mutual Self-Help Homeownership is a federal program, so it is not limited to Montana.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Financial education courses and coaching throughout construction.

2. 2

   Contact Helena Area Habitat for Humanity to reserve funds

   Funds are reserved through Contact form; notified when accepting new applications, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.