Owning a Home in 2019, Mission Possible

Dreaming of owning your own home in 2019? Let’s make it happen! The good news is that owning a home doesn’t have to be extraordinary feat – it may be more achievable than you think with preparation and the right resources.

NeighborWorks Great Falls is a non-profit organization that helps people just like you realize their dreams of homeownership. If you’re thinking about taking the next step and buying a house in the new year, let’s get ready!

Step 1: Prepare

Buying a home is a major decision and buyers of all ages should be prepared for the financial implications of homeownership. There can be a major difference between what you qualify for and what you can actually afford. If your monthly payment doesn’t allow for your normal leisure activities such as a movie, or occasionally dining out – can you really afford the home you’re looking at? Are you willing to make those sacrifices for homeownership? Or should you possibly look at a home at a lower price range? Hint, hint it’s probably the latter. Buyers should create a budget, not only including necessities, but also the new shoes every so often – it will tell you how much you spend, and where the monthly payment you can actually afford should land. NeighborWorks Great Falls specializes in pre-purchase planning with free appointments to discuss and create budgets, look a credit and debt– and set reasonable goals from there. It’s a great starting point, the appointments totally free and here for your benefit. To start, create a profile here.

Step 2: Find Resources and Get Informed!

No matter what your financial situation, there may be financial assistance programs to reduce or eliminate your down payment or monthly payment. Many buyers struggle with the funds needed to purchase – down payment and closing costs can be a huge hurdle to homeownership. You may be able to afford a monthly payment, but the upfront costs are keeping you from purchasing. You never know what help is out there unless you look, and you might be surprised at what you’ll find! NeighborWorks Great Falls offers many options including Matched Savings Accounts, these accounts help you to establish savings. These accounts have a 3 to 1 match up to $1000. If you save $1,000 NeighborWorks can match $3,000 – leaving you with $4,000 for down payment on any home in Great Falls (savings below $1,000 also qualify for 3 to 1 match). Other options include both deferred 0% interest and interest accruing loans to help with down payment and/or closing costs.

Step 3: Ask Questions, Utilize the Experts!

It’s easy to feel bashful when it comes to asking questions, but don’t let that stop you. Asking questions can be the key to a successful buying and homeownership experience. There are so many helpful experts in Great Falls waiting to help in addition to NeighborWorks. Check out NeighborWorks’ Preferred Partner list to see a list of Realtors, lenders, and title companies that know the resources available to you and can work side-by-side to help you achieve your homeownership goals. Knowledge is the key to a successful and positive home buying experience, so ask questions and use the knowledge of the home buying professionals that are here for you!

Purchasing a home is a big decision, but starting out with these three will put you on a great path. To learn more about the resources available to you call NeighborWorks office at 406-761-5861 or check out the “Homebuyers” section of our website.

Happy New Year, and Happy home buying!