Housing

Dreaming of Owning Your Own Home?
Beartooth RC&D Area partnering with NeighborWorksMontana
offers Homebuyer Education Sessions. . . . . .

Who Qualifies

1st time homebuyers
1st home, single head of household, handicapped or disabled in household

Income not to exceed 80% of the adjusted
median income for county and family size as
shown on the chart below

Figures last updated May 2008

Household Size	1 person	2 person	3 person	4 person
Yellowstone and Carbon County	$ 34,650	$ 39,600	$ 344,550	$49,500
Sweet Grass	$ 31,450	$ 35,950	$ 40,450	$ 44,950
Stillwater	$ 33,300	$38,100	$ 42,850	$ 47,600
Big Horn	$ 28,950	$ 33,100	$ 37,200	$ 41,350

Sessions in the
Fastrack to Homeownership
Program

§ Getting Ready for Homeownership

What it takes

Are you ready?

Affordability

§ Budgeting

Practical money management and saving for your goals

§ Credit

What lenders look for

Understanding your credit history

§ Finance

Types of lenders, programs available, and mortgages

§ The Mortgage Process

Getting your loan approved

The closing process

§ Finding a Home

How to find the right house

Working with a Realtor©

§ After the Sale

Protecting your investment

Financing for Down Payment & Closing Costs

· Current Montana Board of Housing (MBOH) rate, 30 year second mortgage through NeighborWorksMontana at www.nwmt.org

· Available with Montana Board of Housing (MBOH) or USDA Rural Development FHA, or VA Loans.

· Basic Program for down payment & closing cost is a maximum of $5,000

· Other programs are available – check their website

· Packaging fee of $350 required which is included in the closing costs

House Price

· Limited to FHA Guidelines - Approximately $200,160 or less

Homebuyer Training

· Must attend 8 hours of Homebuyer Education class certified by NeighborWorksMontana.

Call 406-962-3914 for more information or to sign up for the First Time Homebuyers Class

See class time and location below

Dear Prospective Home Buyer,

Thank you for your interest in our home buyer education program. Home buyer education classes are required in order to be eligible for down payment and closing cost fees through our partnership with the NeighborWorks Montana. Other programs available for low to moderate income first time home buyers are also require home buyer education.

We hold classes on the second Saturday of every month from 9:00 am until approximately 4:30 pm at the Best Western Yellowstone Crossing, 205 SE 4th Street , Laurel , in the Conference Room. Information on programs available to you as a first time home buyer will be presented. You will have the opportunity to talk to lenders and real estate professionals about your home buying needs and the various programs available on a one-to-one basis at lunch. In order to take advantage of this informal opportunity, and since time is limited, please bring a sack lunch.

Please call Beartooth RC&D at 406-962-3914 to register for the class, in order to plan for class size and materials. There is a $10.00 charge per family to attend the class.

Sincerely,
Elaine Nowak
Elaine Nowak
Home Buyer Education Instructor

About the RC&D . . . . . The Beartooth Resource Conservation and Development Area, Inc. was established in 1969 as a forum for exchanging ideas, developing projects and assisting in the enhancement of our rural economy. The five counties of Sweet Grass, Stillwater , Carbon, Big Horn and Yellowstone make up the area.

The RC&D utilizes local leadership consisting of county commission, city or town councils, conservation districts and local development groups to chart and implement a plan of action. Currently, the program is directed by a 22 member board representing a diverse cross section of the area's residents. You may contact Beartooth RC&D online at info@beartooth.org.