Assistance Program Search

The Road to Home Low-Interest First Mortgage Program
Human Resource District Council of District IX
www.thehrdc.org/road_to_home.php

Program Overview

The Road to Home Low-Interest First Mortgage Program is a program that provides 30-year, fixed-rate mortgages at lower-than-average interest rates (subject to change) to eligible households. Applicants must reside in Gallatin, Meagher or Park counties.

Who is eligible for this program?

Applicants within Bozeman city limits may earn up to 100% median area income; other applicants may earn up to 80% median income for their county (according to MBOH income limits, which are available at http://housing.mt.gov/Includes/BOH/Singlefamily/incomelimits.pdf). PITI range is 23-33% of income; maximum debt-to-income ratio is 41%. Is this program for first time buyers only? Yes

Property Eligibility Requirements

Applicants must reside in Gallatin, Meagher or Park counties. Allowable property types: Single-family homes, manufactured homes on permanent foundation with land included in purchase

Benefit Details

FHA area limits on maximum sales price apply. Single-family mortgage 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 Loan Term: 30 years Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes

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