It is common that first-time homebuyers can afford a monthly mortgage payment, but find it challenging to save enough money for down payment and closing costs. Montana Housing down payment assistance programs can reduce the amount of up-front cash needed to purchase a home.
To obtain down payment assistance from Montana Housing, the borrower must first be eligible for a Regular Bond Program Loan. An approved participating lender will qualify the buyer, determine how much down payment and closing cost assistance is needed and help the buyer select a Montana Housing home loan that is best. Some homebuyers may be able to borrow the entire minimum required down payment, plus all or a portion of the closing costs.
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