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Tip of the Week

Homebuyer's Education

Student debt has become crippling for many college graduates. While previous generations bought homes as the natural next financial step towards investing in their future, many young adults are pausing (and rightly so) before taking on a mortgage. Now, more than ever, it is really important to consider your housing options. More and more, it’s not the logical next step towards financial adulthood.

However, if you decide to purchase a home, not only will you need to determine if you can afford the mortgage, but also be able to pay for other related costs, including maintenance, repairs, utilities, and, homeowner’s association dues. Homeownership is a major financial responsibility that shouldn’t be taken lightly. There are many organizations across Montana that offer homebuyer classes and counseling. Contact them and use their expertise to help you make the right decision for your specific circumstance.

Here are some Neighborworks Montana network providers that offer classes for homebuyers:

Again, buying a home is not always the best financial decision or investment. Talking with a financial or housing counselor is a good place to start. They can supply you with the resources necessary to make a smart, educated decision whether you decide to buy or wait.

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Montana Credit Unions for Community Development (or MCUCD) is the award-winning, charitable arm of the Montana Credit Union Network. A state-wide nonprofit organization, MCUCD works together with the state's credit unions to improve the lives and financial independence of all Montanans.