Assistance Program Search

Mutual Self-Help Program NeighborWorks Great Falls
NeighborWorks Montana/NeighborWorks Great Falls
www.nwgreatfalls.com

Program Overview

Mutual Self-Help Program NeighborWorks Great Falls is a program in which qualified buyers earn “sweat” equity by working with a group of other families to help build their own homes. Hard work is the key to this project, along with a desire to work together to build our community and new homes. The group commits to building 10 homes, with construction supervision from NWGF. All of the families work on all of the homes; no one moves in until all 10 homes are completed. Mutual Self-Help program staff and the USDA Rural Development staff will review your application to see if you qualify. When your application is approved, you and nine other families will participate in Homebuyer Education classes and construction technology classes offered by NeighborWorks Great Falls. Our experienced staff of construction and lending professionals will guide you step-by-step through the construction and lending process, working together as a team. For more information, visit www.nwgreatfalls.org/mutualselfhelp.htm

Who is eligible for this program?

To qualify for a USDA Rural Development 502 Direct Loan, you must be a US citizen or legally admitted non-citizen who does not currently own an adequate dwelling. Applicants must be legally able to enter into a loan agreement and be unable to obtain financing from other sources, including local lenders. The borrower must plan to personally occupy the home on a permanent basis. Your household will be expected to work a minimum of 30 hours a week, for as long as twelve months or until all homes are completed, on the construction site. The head of the household must put in at least 17 hours per week while the remaining hours can come from outside family members, friends of the family, and community members or organizations willing to help the family. Each applicant must have dependable income and submit a complete copy of their most recent federal income tax return. Favorable credit history is required, and a credit report will be requested for each applicant. Is this program for first time buyers only? No

Property Eligibility Requirements

Self-Help locations are predetermined.

Benefit Details

Benefit: Your interest rate, based on your income can be as low as 1 percent. You will have the investment and tax benefits of home ownership. You will have affordable house payments. You will finish the project with significant sweat equity value in a high-energy efficient new home. You will acquire the knowledge and skills you need to become a successful and responsible homeowner. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification .