The American Dream is the thing we all want, right?  

To buy a home, have a stable job or career we love, maybe get married and have a family. But it’s not everyone’s dream. I met a person the other day that said they will not buy a home in the U.S. because they want to become an ex-pat one day and live in Costa Rica. No judgement from me!

If I could, I’d probably move to a tropical place too. I’m not a person who wants children, but I do want to buy a home. However, in all transparency, it makes me ill with anxiety to think about paying a mortgage due to the lack of faith in the future of our economy. 

Credit: Canva
Credit: Canva
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Millennials: anyone born between 1982 and 1994, are now the main generation buying homes today.  

And this can seem like a very stressful thing for younger people. Millennials are the first set of kids in human history to have technology available at our fingertips, and with that comes social media/ information available 24/7. We were the first generation to see huge changes in the housing market in the 2008 recession. And it seems we may be witnessing it again as millennials are in their late 20’s and 30’s.  

Millennials, as a whole, aren’t making enough money to support themselves- unless a millennial is a social media influencer, or has a high paying job like an attorney or doctor. If we don’t have jobs to keep with the insane housing and real estate market, how are we supposed to afford student loans, food, car, and housing? It seems like a never-ending battle. 

Credit: Canva
Credit: Canva
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The American Dream is possible for low-income households in Billings!

The First-Time Home Buyer Program is a program in Billings that helps people achieve the American Dream. Their website reads: 

“The City of Billings offers zero interest, deferred payment loans up to $15,000 to assist low-income households purchase their first home.” 

You start by filling out the application on the website.

You’ll need all sorts of tax documents, so make sure you gather all that info before filling it out. Then your application is reviewed, you receive a preliminary approval letter in the mail. You also will have to attend a first-time buyer workshop then you contact a lender and pre-qualify for a loan. Take a look at the flow chart on the website below. 

Credit: www.billingsmt.gov
Credit: www.billingsmt.gov
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Don’t be afraid of this process... be proud of the fact that you work hard, and you can achieve the American Dream in Billings, too!  

 

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