Okay, so you have determined that you are income-qualified for one of these special-offer homes. What next?

You will need to take a Homebuyer Education class. These are offered both in Great Falls and on a rotating basis in the smaller towns in the area. They are given in the evening, and you will only need to attend two or three evening sessions.

Also, you need to visit with a banker to find out how much money you can comfortably borrow, given your income. The local banks are aware of this program, and will be helpful to you.

Once the loan amount is determined, then the program works by subsidizing the balance as a zero-interest mortgage. So, for instance, if the home you are looking at is priced at $140,000 and the bank says you can borrow $90,000, then the balance of $50,000 would be the subsidized amount. You would make payments, with interest, on the $90,000. But the $50,000 would not carry interest, and you would not need to make payments on it so long as you continue to live in the home.

There are other details, so if you have questions please call us, or better yet talk to your local banker!