WELCOME LENDERS

Welcome to Montana Housing’s lender page. The success of Montana Housing relies heavily on our partnership with lenders. We work with Participating Lenders throughout the state to offer low-interest loans to eligible buyers. We also offer down payment assistance and mortgage credit certificates, which may increase a potential buyers’ purchasing power.

Why a Montana Housing loan?

• Low  Fixed Rate Loans
• Down Payment and Closing Cost Assistance
• Generous  Income and Purchase Price Limits
• Special home loans for  Veterans
• Local  Mortgage Servicing

Seven Federal Eligibility Requirements:

The funds used to purchase loans are from tax-exempt bonds called Mortgage Revenue Bonds (MRB’s), therefore, the IRS imposes seven eligibility requirements for which all borrowers must qualify under:

1. Income Limits depending on number of people living in the household.
2. Purchase Price Limits that vary by county & whether an area is Targeted or Non-Targeted.
3. The residence must be a borrower’s primary residence.
4. Trade or business use cannot exceed 15% of the residence’s total area.
5. Be a first-time homebuyer, (not owned a principal residence during the previous three-year period, *some exceptions apply).
6. Funds must be used to purchase a home (refinancing not allowed).
7. Recapture Tax is a possibility.

It is our goal to make sure our participating lenders understand our loan process by offering a variety of resources, including training for lending staff.  Contact us to request training or for more program information.

Mortgage Purchase
& Servicing Guide 2023 Terms & Conditions  MBOH Quick Reference Guide  Income Determination Guide

LENDER ONLINE

Participating lenders can use our password-protected online system to submit loan reservations, check loan status, download pre-filled product forms and view updates and special product announcements. Visit Lender Online, our lender portal, to log on and get started now:

LENDER ONLINE