Resources For Homebuyers

Homeownership: The First Steps To Your Front Door

As a Community Land Trust,  Front Step offers homeownership opportunities to income-qualified buyers at below-market prices. For many Front Step homeowners, their monthly mortgage payments are about the same or even less than they were paying in rent. 

By owning a home, neighbors gain housing stability, equity, and decision-making opportunities in their CLT community.

Interested in buying a home?

All interested homebuyers are encouraged to join our interest list! The interest list is not a numbered waitlist. Instead, we will invite you to apply for homes you may qualify for when they become available!

  1. Begin by filling out our Screening Form.

    • Check the chart on the right for current income qualifications.

  2. Continue preparing for the purchase of a home!

    • Locate your financial documents.

      • When invited to apply for a home, we will the following income documentation: paystubs, tax returns, and bank statements.

    • Obtain a pre-qualification letter from a lender.

    • Complete a homebuyer education course.

      1. We recommend Homeword‘s classes!

Get connected with housing resources in the meantime!

  1. Tenant advocacy through the Missoula Tenants Union

  2. Homeword‘s free Financial Skill Building course

  3. Homeownership opportunities through Habitat for Humanity

Most of our homes are available to households earning 80% of the area median income or below.

A limited number of homes are available to households earning 120% of the area median income or below.

Ready to apply?

Learn More About Community Land Trusts Here:

FAQs

  • In a CLT model, Homeowners only own the building (or a collective share of buildings in the case of our cooperatives!), and Front Step owns the land to keep it permanently affordable for generations. Homeowners then enter into a 75 ground lease with Front Step and agree to sell their home at an affordable price to the next buyer - while still building limited equity!

    Another added benefit of being a part of a Community Land Trust is the added resources and assistance you can receive by being in our network!

  • Each of our Community Land Trust properties operate a little different! Out townhome and condominium developments often have HOA’s and hire a property management company to set their annual budgets, save for reserves and hire property maintenance and capital improvement projects.

  • It can be helpful to work with a lender to understand what your next best steps can be to prepare for homeownership!

    If qualifying for a mortgage is your biggest barrier, we encourage you to consider cooperative ownerhsip!

“With full confidence, I highly recommend this program to anyone. It provides stable, affordable housing and a sense of pride in ownership.”

— Front Step CLT Homeowner