Assistance Program Search

(Flathead County) First Time Homebuyer's Program
USDA Rural Development
www.rurdev.usda.gov/mt/

Program Overview

(Flathead County) First Time Homebuyer's Program is a program designed to assist low and moderate income families become homeowners by providing down payment and closing cost assistance to be used toward the purchase of a home within Flathead County. Arrangements can be made for a 0% interest rate and no monthly payments on a portion of the purchase price of the home. Homes must be located in Flathead County.

Who is eligible for this program?

Borrowers must: have no previous homeownership within the past three years (some exceptions apply); have acceptable credit; have not filed bankruptcy within the last three years; and not have any unpaid collections or past-due accounts. Homebuyers must be able to provide 1-2% of the purchase price from their own resources (not borrowed, but may be a gift). Down payment and closing cost assistance is provided on a deferred basis, with no payments due and no interest accruing. When the borrower sells or refinances the property, the loan, together with the share of the equity, becomes due and payable. Is this program for first time buyers only? Yes

Property Eligibility Requirements

Property must be located in Flathead County.

Benefit Details

Up to $40,000 may be available to qualified homebuyers. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: First mortgage financing is provided by the Montana Board of Housing and/or USDA Rural Development.

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