Home Ownership Program
Thank you for your interest in becoming a Habitat homeowner. We believe that everyone should have a safe, affordable place to call home.
Habitat’s path to homeownership is an important and in-depth process, requiring hard work, time and dedication. But this helps to ensure the long-term success of Habitat homeowners.
By working with us from beginning to end, we can help prospective individuals prepare for the various responsibilities of homeownership, including learning about personal finances, mortgages, maintenance and upkeep of homes, and much more.
Individuals and families who are interested in applying for the Habitat homebuying program must meet a number of requirements, which fall into three categories – QUALIFY, PARTNER and PAY.
QUALIFY to buy a Habitat home
Just like a traditional mortgage, applicants must meet various qualifications for Habitat’s program, including having a need for a homebuying opportunity through Habitat. Great Falls Habitat looks at four living situations to determine a need for our services:
- Substandard Conditions
(structural problems, mold, pests, etc) - Overcrowding
(too many people in one bedroom, using non-bedrooms as bedrooms) - Temporary housing
(living with friends, relatives, coworkers, etc) - Cost-Burden
(spending more than 30% of income on rent)
Other Qualifications Include:
- Either never owned a home or haven’t owned a home in the past 3 years
- Have not had a home in foreclosure in the past 4 years
- Be unable to qualify for a conventional loan due to income level
- Be able to prove ability to afford the monthly payment and household expenses
- Have fair or passable credit and no judgments or liens
- Have not declared Chapter 13 bankruptcy in the past 12 months or Chapter 7 in the past 2 years
- Must have re-established credit from any previously declared bankruptcies
PARTNER with Habitat
- Complete partnership hours volunteering at Habitat build sites, at the Habitat ReStore and at other area nonprofit organizations. Great Falls Habitat requires 350 partnership hours. Partnership hours can also be contributed by family and friends.
- Build a $1,000 emergency fund
- Complete Homebuyer Education Course
- Maintain or decrease your “debt-to-income” ratio while in the Habitat program
PAY the mortgage note
Families must have stable, verifiable income sufficient to support a monthly mortgage payment and other expenses and must meet the income guidelines listed below. Habitat serves families earning less than 80% of area median income for Cascade County. Having income within these guidelines does not guarantee eligibility.
Family Size | Gross Yearly Income |
1 | $18,050 – $48,100 |
2 | $20,600 – $55,000 |
3 | $23,200 – $61,850 |
4 | $25,750 – $68,700 |
5 | $27,850 – 74,200 |
6 | $29,900 – $79,700 |
Starting the Application Process
Applicants must attend an in-person orientation session BEFORE beginning the application process. You don’t need to make an appointment or reservation, though you must arrive early to be seated prior to the session beginning. Late arrivals will not be admitted. Call our office for the next orientation date at 406-453-5972.
We kindly request that small children do not attend this orientation. Thank you for your understanding and cooperation!
Habitat homeowners must be active participants in building a better home and future for themselves and their families. Every Habitat home is an investment. For us, it is one answer to a critical need, and we believe that stronger homes will create stronger communities.
