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NeighborWorks Great Falls Owners in Partnership (OIP)

NeighborWorks Great Falls · Great Falls, Montana

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Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is NeighborWorks Great Falls Owners in Partnership (OIP)?

NeighborWorks Great Falls Owners in Partnership (OIP) is a deferred second loan for homebuyers in Great Falls, Montana, administered by NeighborWorks Great Falls.

  • A 0% interest, 30-year deferred second mortgage (up to ~$50,000) that NeighborWorks Great Falls offers exclusively to buyers purchasing NWGF-built, High School House, or major-rehabilitation homes, including some SHOP homes that require sweat equity. Income-eligible (<=80% AMI Cascade County) first-time buyers, single parents, or households with a disabled member qualify; repayment is deferred until sale, transfer, refinance, or loss of primary occupancy.
  • 0% interest.
  • No monthly payments.
  • Pairs with HomeStart and gift funds.
  • Designed for NWGF-developed homes.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Federal HOME funds; some homes include SHOP financing (sweat equity).

How much assistance does it provide?

NeighborWorks Great Falls Owners in Partnership (OIP) offers up to $50,000 in assistance.

  • Buyer contribution: Minimum $1,000 of own funds; gift funds and HomeStart funds acceptable. For FHA firsts, borrower must invest the 3.5% down payment with own funds. Earnest money of at least $500 required.
  • The program can be combined with MBOH first mortgage, HomeStart funds, gift funds.
  • Amounts are the program's published maximums, not an offer — NeighborWorks Great Falls determines any individual award.

Do you have to pay it back?

NeighborWorks Great Falls Owners in Partnership (OIP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Due on maturity (30 yr) or earlier upon: home no longer borrower's sole residence; sale/lease/rental/transfer; death of borrower(s); refinance of 1st mortgage (unless subordinated); or repayment of 1st mortgage.
  • The assistance is recorded in 2nd position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

NeighborWorks Great Falls Owners in Partnership (OIP) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: FTHB (no ownership in last 3 years) OR single parent with dependent children OR household with a disabled family member.
  • The home is occupied as a primary residence
  • On credit: Not specified in guidelines; must qualify for 1st mortgage.
  • A completed homebuyer education course, through NWGF-approved Homebuyer Education class plus one-on-one counseling session with NWGF Certified Housing Counselor
  • Residency: Purchase of a NeighborWorks Great Falls new-build, High School House, or major-rehab home
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. Buyers selling an existing home are ineligible. Unconfirmed: min_credit_score, annual_funding_cap, flood_zone_restrictions, citizenship_requirement, exact 4-person sale price limit.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

NeighborWorks Great Falls Owners in Partnership (OIP) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% of HUD median income adjusted for household size in Cascade County. 80% 4-person = $72,640 (NWGF 2026 chart).
  • The limit applies to total household income, not only the borrower&rsquo;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?

NeighborWorks Great Falls Owners in Partnership (OIP) caps the purchase price as follows: Total household assets cannot exceed $100,000.

  • Eligible property types include NWGF new-construction homes, High School House, Major-rehabilitation homes, and Manufactured home on permanent foundation (larger than single-wide, built after July 1976).
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

NeighborWorks Great Falls Owners in Partnership (OIP) is a federal program, so it is not limited to Montana.

How do you apply?

Applications for NeighborWorks Great Falls Owners in Partnership (OIP) go through NeighborWorks Great Falls, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through NWGF-approved Homebuyer Education class plus one-on-one counseling session with NWGF Certified Housing Counselor.

  2. Contact NeighborWorks Great Falls to reserve funds

    Funds are reserved through NWGF processes; applies only to NWGF-built/rehabbed homes, and are subject to availability.

  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.

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