This is a cute, well-maintained, Missoula Slant Street home with some excellent features. It boasts a recently remodeled kitchen and beautifully tiled shower; hardwood floors; arched entryways; new windows; private outside grounds with fenced in front & back yards, a deck, a patio, great landscaping including raised garden beds, rose bushes, graveled path and an in-ground sprinkler system. This 1940’s charmer also contains a single detached garage with attached storage space; updated electrical; furnace (2007) like new; new washer, dryer, dishwasher, refrigerator are all included.  Taxes were $2,020 for the year, utilities averaged $96 a month (past rolling 12 month period).

- Creates a new $6,500 tax credit for move-up buyers for the same period (Move-up buyers must have been residing in their primary residence for 5 consecutive years out of the last 8 in order to   qualify for the credit)

- Both categories of homebuyers have an additional 60 days (June 30th) to close on the home (certified contract by April 30th (rather than complete closing) will allow the buyer to qualify)

- Both categories of homebuyers have new, higher income limits of $125,000 for individuals and $225,000 for couples

- Homes over the purchase price of $800,000 do not qualify

*Info provided by BBIA.

MLS#908728

MLS #907112

• Typically require less income to qualify
• Usually a lower down payment (3% min) which can be gifted
• Credit criteria for borrower isn’t as strict
• Monthly insurance premium is cheaper
• Can lower allowable fees at closing by wrapping some costs into the mortgage
• The loan is assumable
• Are not just available for 1st time home buyers
• Can refinance a conventional with a FHA loan

Cons of FHA (203b) Loans — in relation to conventional loans:

• A lower loan limit (ie.  Missoula MT it is $291,250 for a single family home)
• Upfront mortgage insurance premium fee - which can be wrapped into the mo. mtg pmt

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800 Block of West Kent Ave.
FREE!

Live Music, Food, Beer, Art Creation Stations, Art Vendors: Noon – 10 p.m.

Contest: 10 a.m. to 4 p.m.

Portico Real Estate will have a table with pre-made bird houses for kids to decorate!  Come join in the fun!

For more information visit the Home Resource website at: http://www.homeresource.org/sponcon09

MLS# 906406

Come check out this cottage style home in Lewis & Clark.  It is rare to find a residential home in this area under 200K AND… not be right on a busy street.  So what’s the catch?  Is it run down with all sorts of structural issues?  Surprisingly, the answer is — NO.  This is a little gem and I’m proud to be listing it.  I’ve looked at the owner’s inspection report & appraisal (2005).  Nothing major is noted in the report; the house is sound, and based on current comparable market values, in LC,  this property is priced fairly.  Spent some time inspecting it myself, walking the grounds, etc.  All I have to say is - this is a find!  Not to mention it falls in that affordable price range for first time home buyers.

FEATURES:

• 3 bedrooms
• 1 bathroom
• 1,154 sq ft
• 50’s retro kitchen w/ breakfast nook
• Double private lot (8,604 sq ft)
• Fenced in front and back yards
• Beautifully landscaped
• Patio with pergola
• Multiple raised garden beds
• Single car garage - very deep
• House roof is like new
• ENERGY STAR appliances
• Minutes to the U of M

TAXES:  $1,952

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