Montana Board of Housing helps make home ownership affordable for home buyers through low-interest mortgages, down payment assistance and various loan programs. If you are dreaming of buying your first home, but not sure you can afford it, a Montana Board of Housing low-interest mortgage and may be just the help you need. Montana Board of Housing helps make home ownership affordable for home buyers through various loan programs and the mortgage tax credit program.
Montana Board of Housing is an investor, not a lender; therefore it is the participating lenders from around the state that conduct the credit analysis and qualify buyers for a Montana Board of Housing loan. The lender closes the loan and then sells it to Montana Board of Housing.
Why ask for a Montana Board of Housing loan?
Low fixed rate loans: meaning the principal and interest portion of a low monthly payment will never change over the life of the loan.
Down payment and closing cost assistance: Montana Board of Housing can assist with out-of-pocket costs, enabling homebuyers to achieve ownership sooner.
Generous income and purchase price limits: Buy the home you want and that you can afford
No Pre-Payment Penalties: Buyers can prepay all or any part of the outstanding balance at any time without penalty.
Local Mortgage Servicing: All loans are serviced in-state either by Montana Board of Housing or a local participating lender.
What are the steps to homeownership?
Find a homebuyer education class in your area
Verify your eligibility with a Montana Board of Housing participating lender
Work with a realtor to find an affordable home that fits your needs
Make an offer!
Schedule a home inspection with help from your realtor
Work with your lender to complete the loan process
Move into your new home!
Be sure to ask your lender about Montana Board of Housing programs!
