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.
Most of our homes are available to households earning about 80% to 120% of Area Median Income.
Interested in buying a home?
Join our list to be notified first when homes come up for sale. We have 47+ units coming available soon!
Begin by filling out our Screening Form.
Check the chart on the right to find your level of income qualification or use our handy Area Median Income calculator.
Continue preparing for the purchase of a home.
Locate your financial documents.
When invited to apply for a home, we will require the following income documentation: paystubs, tax returns, and bank statements.
Obtain a pre-qualification letter from a lender.
View our Approved Lenders here.
Complete a homebuyer education course.
We recommend Homeword‘s classes!
Additional housing resources
Tenant advocacy through the Missoula Tenants Union
Homeword‘s free Financial Skill Building course
Homeownership opportunities through Habitat for Humanity
Ready to apply?
Learn More About Community Land Trusts Here:
FAQs
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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!
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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.
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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
