Available Homes for Sale (no assembly required)

Happy 2016! To start the year off, I’ll be repeating a blog series I posted back in August to introduce you to the great services available at National Affordable Housing Network (NAHN). Each is important and unique and I want to be certain that our readers are aware of the great opportunities to be found at NAHN. We will cover:

  • Available homes for sale (no assembly required)
  • Self Help Homes (some assembly required)
  • Superinsulation and other cost-saving NAHN home design features, and
  • No-cost credit counseling, available to everyone

Up this week is Available Homes for Sale (no assembly required). Unlike Self Help Homes (covered here) which require a prospective home buyer to apply for a house and then help build it, Available Homes for Sale are complete and move-in ready. Just like in a traditional home sale, when the buyer has financing secured and the sale is approved the buyer moves in right away. As you will discover, we don’t like to be completely traditional so there are some special features to our Available Homes for Sale that make them both affordable and high quality:

  • Each home for sale is superinsulated. Not only are these rare new homes in Uptown Butte (we have both brand new homes and some just a few years old for sale), they’re also very energy efficient. This means you can stay more comfortable in them AND spend less money on utilities (extremely rare).
  • For those with lower incomes (see chart below) and good credit, there may be gap financing available in the form of a soft second mortgage. With continued homeownership this
    gap mortgage is slowly forgiven and you do not pay on it until the first mortgage is paid off.

The exact details of the sale of each house will be different for everyone, depending on your income level and credit. If interested, please contact us today. They will be sold first come, first served. At the time of writing there are five Available Homes for Sale in Uptown Butte:

 

623/627 W Granite

623/627 W Granite

W. Granite Townhomes

623 & 627 W Granite

Two units to be sold separately

2 bedroom (possible small 3rd bedroom)

2.5 bathroom

Brand new with historically inspired design

Electric fireplace

Superinsulated and all electric = low heating bills

Low maintenance yard

819 S Main

819 S Main

819 S Main

2 bedroom 1 bath

built in 2006, looks brand new!

Electric fireplace

Superinsulated and all electric = low heating bills!

Back deck

Well maintained and fenced-in back yard

 

 

 

 

644 S Wyoming

644 S Wyoming

644 S Wyoming

3 bedroom

1 bath

built in 2006

Electric fireplace

Superinsulated

and

all electric =

low heating

bills!

 

 

 

These homes are affordable because they are energy efficient and may have special financing options (this depends on your unique situation). While the homes must sell for the prices they are listed for, income qualified applicants may be approved for special gap financing. This means that if you’re approved for less than the sale price, you can apply for a second mortgage. The exact details will depend on each individual’s eligibility, but generally the second mortgage is not due until the first mortgage is paid off, and is slowly forgiven over time. This means that if you stay in the home for a long time, you’ll never have to make a payment on that second mortgage.

So if you, or anyone you know, dreams of owning a home in Uptown Butte, and never thought you could afford one, call me now (406-782-8579). I’ll talk you through the details, open the houses for you to walk through, and schedule you for an informational meeting to discuss your eligibility with one of our credit counselors. Even if you think your credit isn’t good enough, call me anyway. NAHN is a HUD-certified credit counseling center and can help you understand how to improve your credit for free.

The grid below shows the maximum gross income you can earn in a year, by family size. The income of all adults (18+) living in the household is counted.

Family Size12345678
120% AMI$50,650$57,900$65,100$72,350$78,150$83,950$89,750$95,500

About

Meghan Boyce is the Homeownership Coordinator at National Affordable Housing Network.