Funds are available from July 1st each year until they run out. this is a popular program; in most recent years, funding ran out by November.
Funds are not fully committed for a specific purchase until staff receives from an applicant that has received preliminary approval, a copy of the buy-sell agreement and a good faith estimate. At that time staff, issues a final approval letter which authorizes the lender to proceed. This letter signifies the City's intent to fund the project.
Staff recommends you talk to your lender or call the Community Development office (406-657-3045) regarding the status of funding before making an offer to purchase. Good communication can avoid major disappointment.