Assistance Program Search

American Family Funds/Dove Foundation
American Family Funds
www.americanfamilyfunds.com

Program Overview

American Family Funds/Dove Foundation is a program that provides down payment and closing cost assistance to those approved for conventional loans. A mortgage lender must qualify borrowers for a loan. This program is available in any county in Montana. The application fee is $ 350.

Who is eligible for this program?

The lender must approve the borrowers obtaining a gift for down payment. The borrower must have held the same job or been in the same field for two or more years, and had no delinquencies or late payments for 24 consecutive months. The program is for a home purchase with a seller who is willing to participate in this program. The property must be owner occupied. There are no income requirements for this program. This particular program is for home purchases only and may be used toward the down payment and/or closing costs. Is this program for first time buyers only? No

Property Eligibility Requirements

Properties located all over the State of Montana qualify for this program.

Benefit Details

All loans must be approved by a lender and must abide by lender guidelines. There is no set gift limit for use in this program; however, the average gift is between 3 and 5 percent of the purchase price. Benefit: The benefit of this program is a low down payment and closing cost assistance with a participating seller. Owner Occupancy Required: Yes Other Program Comments: Borrowers must work with a lender that allows a charitable gift contribution.

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