New homeowner Joye Woodson thought buying a home was a daunting, out-of-reach process. Financial barriers such as coming up with enough money for down payment and closing costs seemed overwhelming. But Woodson followed Montana Housing’s 6 steps to homeownership and learned becoming a homeowner was within reach.
“It never feels like your home when you’re renting,” says Woodson “When you own it, you feel secure and take pride in it. It’s just a sense of contentment and I am happy to give my child that.”
Montana Housing at the Department of Commerce is recognizing Homeownership Month and continues to work with partners, homebuyer educators and lenders to make buying a home a reality for many Montanans like Woodson by providing low-interest home loans and down payment assistance.
With her son and dog close by, Woodson sat on the porch of her newly-purchased home with pride. A few weeks ago, Woodson and her family lived in a one-room rental in Livingston. Although she and her husband had plans to eventually buy a house, they didn’t think they would qualify.
“Especially in this market it almost seems impossible to get a home and I had myself pretty convinced that we were almost going to have to leave the area until I found out about the Montana Board of Housing and HRDC,” Woodson says. “I believe that's the only reason I have a home. Otherwise I wouldn't have one in this area. It's been a huge, huge blessing and I feel like I hit the jackpot.
Woodson’s advice to Montanans interested in buying their first place is to start by talking with a participating lender or taking a homebuyer education class.
The Montana Department of Commerce administers most federal housing dollars that come into the state. These services include rental assistance, homeownership assistance, and affordable rental development.