Steps to An NWGF Loan

Steps to an NWGF loan for down payment
and closing costs

1. Attend HomeBuyer Education.
   
2. Clean up any credit issues you have.
   
3. Visit a lender to determine the amount of loan your income support.
   
4. Select a real estate professional, decide what home you wish to purchase, and sign a buy/sell agreement on the home.
   
   ** If your family income from all sources is less than 80% of adjusted median income, you may qualify for City of Great Falls HOME 0% Deferred 2nd mortgage. HOME mortgages requires a home inspection and a Housing Quality standards inspection be performed on the home. All health and safety items must be repaired before HOME funds can be used to purchase the home. NWGF will require a copy of the Home inspection so the appropriate paperwork can be completed.
   
   
5. Ask your lender to forward the loan package to NWGF.
   
6. NWGF will determine which second mortgage program will best meet your needs and will notify your lender of the amount, interest rate and term of the loan.
   
7. Sign the NWGF loan documents at the loan closing.
   
8. If the loan is amortizing (payments are made), the payment will automatically withdrawn from your checking or savings account each month.
   
   If the loan is deferred, you will receive a letter each year verifying that you are still living in the home, as it is a requirement of all NWGF loans that the home remain your principal residence.