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This project is a Public/Private partnership between the Community Development Department of the City of Billings and Real Estate Dynamics, Inc. The property is owned by the City, and they used Federal HOME Funds to develop the lots. 70% of the homes in the subdivision must be sold to people in the 80% median income and less. This income level qualifies buyers for various forms of cash assistance. To take advantage of this program, buyers must attend a Homebuyers Education Workshop put on by homeWORD of Billings or Beartooth RC&D of Laurel. Once you take the Workshop and qualify for the program, you can take advantage of many assistance programs available, including deducting the lot cost at $25,600 from the total purchase price.
PRICES 4-13-07* 3nd Phase (14 Houses)
|
Sq. Feet |
Bedrooms |
Baths |
With Garage |
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1,008 |
2 |
1 |
$131,700 |
|
1,276 |
3 |
1.75 |
$152,650 |
|
1,417 |
4 |
1.75 |
$162,900 |
* Prices are subject to change without notice.
Who Qualifies
- 1st time homebuyers
- 1st home, single head of household, handicapped or disabled in household
Income not to exceed 80% of the adjusted
median income for county and family size as
shown on the chart below
INCOME % OF MEDIAN GUIDELINES 2008
Billings (MSA) median family income $61,900
Effective March 20, 2008
|
Household Size |
30% |
50% |
60% |
80% |
100% |
|
1 |
$13,000 |
$21,650 |
$25,980 |
$34,650 |
$43,300 |
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2 |
$14,850 |
$24,750 |
$29,700 |
$39,600 |
$49,500 |
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3 |
$16,700 |
$27,850 |
$33,420 |
$44,550 |
$55,700 |
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4 |
$18,550 |
$30,950 |
$37,140 |
$49,500 |
$61,900 |
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5 |
$20,050 |
$33,450 |
$40,140 |
$53,450 |
$66,900 |
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6 |
$21,500 |
$35,900 |
$43,080 |
$57,400 |
$71,800 |
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7 |
$23,000 |
$38,400 |
$46,080 |
$61,400 |
$76,800 |
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8 |
$24,500 |
$40,850 |
$49,020 |
$65,350 |
$81,700 |
How Do I Get Qualified
- Attend a 1st time homebuyers workshop
- Thru HomeWORD of Billings
- Thru Beartooth RC&D
| Affordable Housing Workshop Schedules |
| Billings & Laurel |
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| HomeWORD of Billings |
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Week day classes - 6:00 pm to 9:00 pm – three nights
Saturday Classes – During the summer only
Offered at 2722 3rd Avenue North, Billings
2nd Floor Conference Room (Reservations Required) |
| 2008 |
Feb. |
12, 13 & 14 |
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Mar. |
11, 12 & 13 |
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Apr. |
1, 2 & 3 |
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Call Linda @ homeWORD for Reservations (406) 255-0298 |
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Beartooth RC&D |
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2008 |
Classes are held on the 2nd Saturday of every month from
9:00 am till 4:30 pm at the Laurel City Hall Chambers
located at 115 1st Street, Laurel (Reservations Required)
Call Elaine for Reservations @ (406) 962-3914 |
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