Down Payment Assistance for purchasing your fist home

Need Help with your Down Payment?

The Road to Home Progam can help with up to $30,000 to eligible families toward the purchase of your new home!  This is not a gift, but a second mortgage with no payments and no interest that can help you afford your first home.

As with any program, there are some qualifications, and these are the basics, in addition to being approved by the Road to Home Program:

       

 Have to take the First Home Buyers Class offered by HRDC 

              Have to be a First Time Home Buyer!

                         You must have a 1% down payment of your own to contribute to the purchase

                 You cannot have more than $10,000 of assets after the closing (for questions on this one, call me!)

         You must be income eligible, and here the chart:

 

                                                 Family Size and Maximum Incomes

AREA                                    1                    2                    3                     4                     5                   6                       7

Park County                     31,750            36,250            40,800             45,300              48,950           52,550                56,200
Gallatin County                37,900            43,300            48,700             54,100              58,450           62,800                67,100

   

     Your first loan must be a Montana Board of Housing or Rural Development (your lender will know)

                           This must be your primary residence

                                                 You must have a professional home inspection.


These are the basics folks.  If you think you qualify and would like more information, please call, I have helped many families into their firstBozeman homes and would be delighted to assist you as well!

Comment balloon 2 commentsJenifer Lower • January 13 2012 09:58AM
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