HELP MONTANA HOME OWNERS

Administered by: Rural Housing Service Program Name: Housing Repair & Rehabilitation Grant Type of Assistance: Grant Maximum Assistance Amount: $7,500 Purpose: Rehabilitation Brief Program Description: These loans are available to very low-income rural residents who own and occupy a dwelling in need of repairs. Funds are available for repairs to improve or modernize a home, or to remove health and safety hazards. General Property Requirements: Property must be in rural area. Area Served: State of Montana General Applicant Requirements: 1) 62 years old or older. 2) Homeowner-occupants must be unable to obtain affordable credit elsewhere and must have very low incomes, defined as below 50 percent of the area median income. To qualify or for more information, contact: Deborah Chorlton, Program Director Telephone: (406) 585-2551 Email: Deborah.Chorlton@mt.usda.gov Apply for Financing Now Administered by: Department of Housing and Urban Development (HUD) Program Name: HUD-Insured Loans for Condominiums Type of Assistance: Loan Maximum Assistance Amount: Contact agency for amount. Purpose: Purchase / Rehabilitation Brief Program Description: HUD insures loans to buy to buy or refinance a principal residence in a condominium development. Down payments can be as low as 3 percent, and closing costs can be wrapped into the mortgage. General Property Requirements: Contact agency for amount. Area Served: State of Montana General Applicant Requirements: Meet income limits. To qualify or for more information, contact: To get a HUD-insured loan, you need to apply to a HUD-approved bank, mortgage company, or savings and loan association for your mortgage. You may also visit http://www.hud.gov/ll/code/llplcrit.html to search for local lenders in your area. Telephone: N/A Email: N/A Apply for Financing Now Administered by: Department of Housing and Urban Development (HUD) Program Name: HUD-Insured Energy Efficient Loans Type of Assistance: Loan Maximum Assistance Amount: $8,000 Purpose: Purchase / Refinancing / Rehabilitation Brief Program Description: If you are buying or refinancing a home and you'd like to roll the cost of improvements to make the home more energy efficient into your mortgage, HUD's Energy Efficient Mortgage Insurance Program may be for you. General Property Requirements: Contact agency for amount. Area Served: State of Montana General Applicant Requirements: Meet income limits. To qualify or for more information, contact: To get a HUD-insured loan, you need to apply to a HUD-approved bank, mortgage company, or savings and loan association for your mortgage. You may also visit http://www.hud.gov/ll/code/llplcrit.html to search for local lenders in your area. Telephone: N/A Email: N/A Apply for Financing Now Administered by: Department of Housing and Urban Development (HUD) Program Name: HUD-Insured Loans for Rehabs Type of Assistance: Loan Maximum Assistance Amount: $25,000 Purpose: Rehabilitation Brief Program Description: HUD insures loans to rehab and make improvements that have been completed for at least one year. You may be eligible if you are an owner. There is no upfront mortgage insurance premium. General Property Requirements: One- to four- unit properties. Area Served: State of Montana General Applicant Requirements: Meet income limits. To qualify or for more information, contact: To get a HUD-insured loan, you need to apply to a HUD-approved bank, mortgage company, or savings and loan association for your mortgage. You may also visit http://www.hud.gov/ll/code/llplcrit.html to search for local lenders in your area. Telephone: N/A Email: N/A Apply for Financing Now Administered by: Rural Housing Service Program Name: Housing Repair & Rehabilitation Loan Type of Assistance: Loan Maximum Assistance Amount: $20,000 Purpose: Rehabilitation Brief Program Description: These loans are available to very low-income rural residents who own and occupy a dwelling in need of repairs. Funds are available for repairs to improve or modernize a home, or to remove health and safety hazards. General Property Requirements: Property must be in rural area. Area Served: State of Montana General Applicant Requirements: Homeowner-occupants must be unable to obtain affordable credit elsewhere and must have very low incomes, defined as below 50 percent of the area median income. To qualify or for more information, contact: Deborah Chorlton, Program Director Telephone: (406) 585-2551 Email: Deborah.Chorlton@mt.usda.gov Apply for Financing Now Administered by: Rural Housing Service Program Name: Rural Housing Guaranteed Loan Type of Assistance: Loan Maximum Assistance Amount: Contact agency for amount. Purpose: Purchase / Rehabilitation Brief Program Description: Used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. General Property Requirements: Property must be in rural area. Area Served: State of Montana General Applicant Requirements: Meet income limits. To qualify or for more information, contact: Deborah Chorlton, Program Director Telephone: (406) 585-2551 Email: Deborah.Chorlton@mt.usda.gov Apply for Financing Now Administered by: Department of Housing and Urban Development (HUD) Program Name: FHA HUD 203(k) Home Rehabilitation Loan Program Type of Assistance: Loan Maximum Assistance Amount: Please visit https://entp.hud.gov/idapp/html/hicostlook.cfm for amount. Purpose: Purchase / Rehabilitation Brief Program Description: Whereas HUD desires to see current housing stock rehabilitated, this program provides owner occupants of existing homes, or intended owner occupants who are looking to purchase a home, readily available mortgage money to refinance/rehabilitate or purchase/rehabilitate their homes, respectively. General Property Requirements: 1) Property must be from 1 to 4 units at completion (e.g.-may bring a 5 unit down to a 3 unit, or expand a 2 unit to a 4 unit). 2) Property must need at least $5,000 worth of basic repairs according to HUD guidelines and the planned use of the owner-occupant. Additions, remodeling, updating, energy improvements, etc. all OK. Area Served: State of Montana General Applicant Requirements: Applicant must meet standard FHA qualification guidelines of good or reparable credit (or alternative credit in cases where no credit history exists) & work history. To qualify or for more information, contact: Locate an Approved FHA HUD 203(k) Home Onwer Consultants at web site: https://entp.hud.gov/idapp/html/f17cnsltdata.cfm Telephone: N/A Email: N/A Apply for Financing Now Administered by: Bozeman Program Name: N/A Type of Assistance: N/A Maximum Assistance Amount: N/A Purpose: N/A Brief Program Description: N/A General Property Requirements: N/A Area Served: Bozeman General Applicant Requirements: N/A To qualify or for more information, contact: N/A Telephone: N/A Email: N/A Apply for Financing Now Administered by: Gallatin County Program Name: None found. Contact agency for any available housing programs. Type of Assistance: N/A Maximum Assistance Amount: N/A Purpose: N/A Brief Program Description: N/A General Property Requirements: N/A Area Served: Gallatin County General Applicant Requirements: N/A To qualify or for more information, contact: N/A Telephone: (406) 582-3000 Email: N/A