A first-time home-buyers class will be held Saturday, June 16, from 8:30 a.m. to 6 p.m. at the Bitterroot Valley Board of Realtors building at the corner of 4th and Cherry streets in Hamilton. Any first-time homebuyers will benefit from taking the class and it is a requirement for most government loans such as FHA and the USDA Rural Development loans.
The Bitter Root RC&D provides the only HUD-approved first-time home-buyers’ pre-purchase classes in Ravalli County. The cost for the in-person class is $75 and includes the one-on-one financial counseling session required prior to taking the group class.
Attendees must attend the entire session on Saturday (8:30 a.m. to 6 p.m.) and participate in a one-on-one intake and financial counseling session to qualify for the certificate. This fulfills the education requirement of government insured or funded loans such as VA, FHA, MBOH, NeighborWorks, USDA Rural Direct and Guarantee, etc. for first-time home-buyers. First-time homebuyers are defined as borrowers who have not owned a home within the past three. Also, if one borrower has owned a home within the past three years and the co-borrower has not, they still qualify as first-time home buyers. This may also qualify them for down payment and closing cost assistance. The earlier a prospective homeowner takes the class the more beneficial it can be to them during the home buying process.
Participants must be fully registered by Thursday, June 7, at 3 p.m. This includes payment in full and return of all completed paperwork. All counseling sessions must be completed by Monday, June 11 at 7 p.m. Call 363-5450 to reserve your space today and have the required paperwork emailed or mailed to you. The one-on-one may be completed with a phone appointment and is included in the cost of the pre-purchase class. Payment in full is required to confirm space. If potential attendees are financially challenged, partial scholarships are available for those who qualify. The Bitter Root RC&D office is located at 1709 N. 1st Street.
This program is designed to help prospective homeowners navigate the home-buying process. Included will be discussions on mortgage readiness, credit, budgets, getting a mortgage, new loan products and/or changes to current government insured or funded loan products, and getting the house you want.