NeighborWorks Montana is an organization that offers financial tools to help those who are interested in homeownership through their many partner networks and financial services.
It is one of eleven Montana organizations to receive Stockman Bank and FHLB Des Moines Affordable Housing Grants, recently being awarded $80,000.
We talked with communications manager Chelsey Lyle about how the organization plans to use the money.
Lyle explained, “Homeownership continues to be an ever increasing source of stability and opportunity, including wealth building for Montanans. And NeighborWorks Montana is so incredibly appreciative of Stockman Bank and the Federal Home Loan Bank for this opportunity. These funds are going to help support some of our homeownership work, and that includes our homebuyer education, financial counseling, down payment assistance."
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Lyle also explained that part of this funding is going to be used for their Matched Savings Program: “This is a way for clients to build a savings habit and establish a small amount of savings, and then they'll take small steps towards long term financial goals, such as homeownership.”
NeighborWorks Montana hopes this grant will aid in their efforts to help first time homebuyers achieve their goals.
The organization also helps to provide financing for affordable housing developers and works to preserve and develop manufactured housing.
For more about NeighborWorks Montana, click here.
The Affordable Housing grants were awarded to the following Montana organizations:
- Blackfeet Housing Authority: $80,000
- Chippewa Cree Housing Authority: $80,000
- Community Action Partnership of Northwest Montana: $80,000
- Great Falls Development Authority, Inc.: $80,000
- Habitat for Humanity Mid-Yellowstone Valley: $100,000
- Homeword: $80,000
- Little Shell Tribe of Chippewa Indians of Montana: $80,000
- NeighborWorks Montana: $80,000
- Gallatin County Housing Impact Fund: $100,000
- Richland County Housing Authority: $80,000
- Snowy Mountain Development Corporation: $80,000
For more on the FHLB Des Moines’ Federal Impact Fund,click here.
