Bridger View homes

Storymill Rendering Watercolor

Note for prospective homebuyers:

Here is what you need to know to buy a Headwaters home. These homes will be priced significantly below market for income-eligible households. The homes differ from market-rate homes in the following respects:

  • You own the home and lease the land, which is held in trust for the community.
  • When you sell your home, you keep your equity and a percentage of the home’s increased value.
  • You must reside in the home as your primary residence.

For more information, visit our FAQ page.

The entry process for Bridger View phase 1 is now closed.

Check back here for the entry process for Bridger View phase 2, anticipated to begin fall 2022

If you haven’t already signed up, please make sure you are in our database to receive notifications when homes become available. Then follow these steps:

1.

Confirm your eligibility

Check whether you meet these criteria:

  • Are you 18 years old or older and a U.S. citizen?
  • Is 75% of your household income earned locally?
  • Do you own other real estate? (This is not permitted at the time of purchase).
  • Check that your income level is below the allowable ceiling (see table below).
  • Check that your assets are below the cap (see info below).
Definition of local employment

Local zip codes

  • 59714
  • 59715
  • 59717
  • 59718
  • 59719
  • 59771

2.

Get Prepared

If you are selected to purchase a home, you will need to move quickly! Get ready by taking these steps:

  • Meet with a local lender and get pre-qualified for a loan (learn what loan amount is manageable for your household).
  • Determine that you have resources available for a down payment (5% of the purchase price is required for down payment and closing costs).
  • Take a homebuyer education class that will explain other steps in the homebuying process.
Homebuyer Education and Counseling Agencies

3.

Enter a drawing

Once you are in our database, you will be notified when a home becomes available for purchase. Now is the time to:

  • Make sure your household is eligible to purchase the home (See table below).
  • Confirm you are able to qualify for a bank loan for the purchase price.
  • Submit an entry form for a drawing.

Is your income below the limits for your household size?

Headwaters household size table

*As published by the U.S. Department of Housing and Urban Development, April 2021, rounded up to the nearest thousand.

Are your assets below the cap?

Headwaters is targeting these homes for purchase by local residents who don’t have financial resources to buy a home at today’s prices. Households with assets above $105,000 are not eligible.

Assets that count toward the cap

Assets to be considered include:

  • Cash savings, including but not limited to bank accounts, credit union accounts, certificates of deposit, and money market funds.
  • Marketable securities, stocks, bonds, and other forms of capital investment.
  • Inheritance and insurance payments received in previous five (5) years.
  • Settlements for personal or property damage received in previous five (5) years.
  • Other personal property that is readily convertible into cash.

The following are not considered assets by Headwaters:

  • Ordinary household effects including furniture, fixtures, and personal property that is not readily convertible into cash.
  • IRAs, pensions, investment accounts, etc. that would require a penalty for early withdrawal.
  • Automobiles used for personal use.
  • Balances in specifically designated retirement funds and college savings accounts.
  • Securities, stocks, bonds, and other forms of capital held in a tax-deferred retirement plan recognized by the Federal Internal Revenue Service.

Are your assets below the cap?

Headwaters is targeting these homes for purchase by local residents who don’t have financial resources to buy a home at today’s prices. Households with assets above $105,000 are not eligible.

Assets that count toward the cap

Assets to be considered include:

  • Cash savings, including but not limited to bank accounts, credit union accounts, certificates of deposit, and money market funds.
  • Marketable securities, stocks, bonds, and other forms of capital investment.
  • Inheritance and insurance payments received in previous five (5) years.
  • Settlements for personal or property damage received in previous five (5) years.
  • Other personal property that is readily convertible into cash.

The following are not considered assets by Headwaters:

  • Ordinary household effects including furniture, fixtures, and personal property that is not readily convertible into cash.
  • IRAs, pensions, investment accounts, etc. that would require a penalty for early withdrawal.
  • Automobiles used for personal use.
  • Balances in specifically designated retirement funds and college savings accounts.
  • Securities, stocks, bonds, and other forms of capital held in a tax-deferred retirement plan recognized by the Federal Internal Revenue Service.

Is your income below the limits for your household size?

Headwaters household size table

*As published by the U.S. Department of Housing and Urban Development, April 2021, rounded up to the nearest thousand.

Is your household eligible to purchase the home for sale?

Headwaters Home Size Table

The weighted drawing

There is far more demand for Headwaters homes than there is supply. Potential homebuyers will be randomly selected through a weighted drawing that gives more entries in the drawing for applicants that have lived in the Bozeman area for a certain number of years.

Headwaters drawings table
Local residency defined

Local Residency Map

  • 59011
  • 59018
  • 59027
  • 59030
  • 59047
  • 59052
  • 59065
  • 59082
  • 59086
  • 59643
  • 59714
  • 59715
  • 59716
  • 59718
  • 59721
  • 59729
  • 59730
  • 59735
  • 59740
  • 59741
  • 59745
  • 59747
  • 59752
  • 59760

The entry process for Bridger View phase 1 is now closed.

Check back here for the entry process for Bridger View phase 2, anticipated to begin fall 2022

Let's keep in touch!

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Support your community

Housing affordability is at a critical juncture. It is a community-wide problem that requires community-wide participation. By supporting the Headwaters Community Housing Trust today, you can be part of the solution.