Assistance Program Search

The Road to Home Downpayment Assistance
Human Resource District Council of District IX
www.thehrdc.org/road_to_home.php

Program Overview

The Road to Home Downpayment Assistance is a program that provides up to $20,000 in down payment assistance to eligible households for the purchase of their first home. This program is available in Gallatin, Meagher and Park counties. The application fee is $ 100.

Who is eligible for this program?

Application fee due at closing. Applicants in Bozeman city limits may earn up to 100% median area income; all other applicants may earn up to 80% median income for their county (according to MBOH income limits, which can be found at http://housing.mt.gov/Includes/BOH/Singlefamily/incomelimits.pdf). PITI range is 23-33% of income; maximum debt-to-income ratio is 41%. FHA area limits on maximum sales price apply. Single-family mortgage loan limits effective January 1, 2008 are: One-family loans: $417,000 Two-family loans: $533,850 Three-family loans: $645,300 Four-family loans: $801,950 Is this program for first time buyers only? Yes

Property Eligibility Requirements

Allowable property types: Single-family homes, manufactured homes on permanent foundation with land included in purchase

Benefit Details

Loans are for 30 years at a fixed rate. This program provides up to $20,000 toward the down payment on the purchase of a home. Loan Term: 30 years Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: The HRDC also participates in state-wide programs that provide down payment assistance in other Montana counties. Please contact the HRDC for further information regarding eligibility.

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