Assistance Program Search

Self-Help Housing Program

Program Overview

Self-Help Housing Program is a program that allows qualified buyers to earn a down payment and closing costs by working as group with other families to help build their homes. The 16 houses to be built in 2008 will be located north of the curve where Three Mile Drive becomes Farm To Market Road at the west end of Kalispell.

Who is eligible for this program?

Applicants who qualify must work 35-40 hours per week, for as long as 10 months or until all houses are completed, on the construction site. To qualify for the USDA Rural Development 502 Direct Loan, each applicants must: be a U.S. citizen or legally admitted non-citizen who does not currently own an adequate dwelling; be legally able to enter into a loan agreement and be unable to obtain financing from other sources, such as local lenders; have dependable income, and submit a complete copy of their most recent Federal income tax return; have a favorable credit history (a credit report will be requested for each applicant); and plan to personally occupy the dwelling on a permanent basis. Applicants must have an acceptable debt-to-income ratio to allow them to pay their mortgage and any debts they may have. The monthly housing allowance (PITI) will be between 29% and 33% of monthly income before taxes, but total debt (including PITI) cannot exceed 41%. Is this program for first time buyers only? No

Property Eligibility Requirements

The 16 houses to be built in 2008 will be located north of the curve where Three Mile Drive becomes Farm To Market Road at the west end of Kalispell. Another 16 houses will be built in 2009 at an as-yet-undetermined location. The sales price cannot exceed $ 140,000. Allowable property types: 3-4 bedroom home with 2-car garage

Benefit Details

Benefit: Program participants will be able to buy their homes at below-market-value prices. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: 0

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