First Time Homebuyer Program
Have you dreamed of homeownership but struggled to save money toward your dream?
Bear Paw Credit Union can help you reach your dreams through a special matched savings account. For every $1 saved, the First Time Homebuyer Program matches it with $4. Participants who save $1,000 are eligible for the maximum match of $4,000! Individuals who reside in Blaine, Cascade, Choteau, Glacier, Hill, Judith Basin, Liberty, Pondera, Phillips, Toole, or Teton counties are eligible for a $5 match and may receive the maximum match of $5,000!
The program, sponsored by NeighborWorks Montana, the federal Assets for Independence program, the Montana Board of Housing and Opportunity Link, require small monthly deposits for at least six months. In order to qualify, prospective participants must:
- Meet certain income guidelines. For example, a household of one, annual income must be $21,660 or less. For each additional household member, add $7,480.
- Have some regular source of earned income
- Be first-time home buyer
- In addition, all program participants will be required to take part in financial education workshops and first-time homebuyer training. NeighborWorks will assist participants in finding classes nearest them.
- For more information, contact Traci Sorensen at Bear Paw Credit Union: 1-800-406-2642 ext 2015 or call Maureen Rude at NeighborWorks Montana headquarters in Great Falls: 761-5861 or 1-866-587-2244.
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