- Oak kitchen & bath cabinets and oak
finished trim and doors.
- Choice of an electric forced air or gas
forced air furnace. Dual heat is an added
option.
- Electric hot water heater.
- All walls are taped, textured and
painted.
- ½-inch sheet rock on all interior walls;
5/8-inch sheet rock on ceilings.
- 2-inch x 6-inch exterior wall
construction with R-19 insulation.
- Vinyl lap siding.
- Vinyl windows with insulated glass.
- Three-tab asphalt shingles.
- Warranty - 25-Year Prorated.
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- Move and placement of The Montana
House™. Homebuyer takes delivery of
the home at the Anaconda Job Corps
site.
- Lot for placement of The Montana
House™.
- Required permits.
- Foundation for The Montana
House™.
- Utility hook-ups and fees.
- Floor coverings and appliances.
- Landscaping.
- Other add-ons, like garage, patio,
or driveway.
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- Household income cannot exceed 80% of adjusted median income for the county of
residence.
- The Montana House™ must be the homebuyer's primary residence.
- Homebuyer must complete a full course of homebuyer education.
- Homebuyer must secure a lot on which to move The Montana House™, either by outright
ownership, mortgage or by a signed buy/sell agreement.
- Homebuyer must submit a purchase budget for moving and installation, including:
- A minimum of one bid from a licensed contractor for construction of the
foundation, including water and sewer line hookups. Owner-built foundations are
not permitted;
- A minimum of one written estimate of utility line costs, including water, sewer or
septic, telephone, electricity and gas or propane (where appropriate);
- A minimum of one bid for moving costs; and
- A minimum of one written estimate for floor coverings and appliances.
- Homebuyer must be approved for a first mortgage from a lender. Homes are financed
through traditional mortgages offered by lenders throughout the state.
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The Selection Committee is composed of
three individuals designated by the Montana
Board of Housing (MBOH). The Selection
Committee reviews the applications and
selects homebuyers biannually in March and
October each year. Two homes are awarded
each time.
To be considered by the Selection
Committee, the homebuyer must submit the
following to NeighborWorks Montana at 509 First Avenue South,
Great Falls, MT 59401:
- All of the information requested in
the Qualifications section of this
document.
- A one-page letter detailing his or her
need for The Montana House™.
NWMT will screen applications and forward
completed ones to the MBOH. Unsuccessful
homebuyers may update their applications
for each subsequent pool.
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When the homebuyer sells the home, or the title
is transferred, the benefit received by the
homeowner will be returned to the MBOH to
support The Montana House Program in the
future.
Formula
- Market Value at Purchase (MVP)
= Appraised value at
time of closing
- Cost Basis (CB) = Total costs
of home and installation
- The Montana House Benefit
(MHB) = MVP – CB
Example
$100,000 (MVP)
- $70,000 (CB)
= $30,000 (MHB)
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The MHB amount will be a subordinate deferred
mortgage and returned to the MBOH upon sale
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