What We Offer
The Montana Board of Housing provides mortgages at interest rates that are competitive with market rates to first-time home buyers. By partnering with us, you may be able to:
- Increase your business by making loans to Montanans whose finances have kept them out of the market.
- Meet requirements of the Community Reinvestment Act.
- Earn fees for the mortgages you originate.
We sell tax-exempt Mortgage Revenue Bonds (MRBs) to investors and use the funds to finance low-cost mortgages for first-time home buyers.
By using our programs, you may be able to offer first-time home buyers:
- Competitive rates, sometimes one-half to one percentage point below market, on 30-year fixed-rate loans.
- 100% financing on VA and USDA loans, 96.5% on FHA loans and HUD 184 loans. Downpayment/closing cost assistance up to $8,000 for buyers with lower incomes.
- Mortgage Credit Certificates (MCCs) that can reduce homeowners’ tax liability by as much as $2,000 per year.
- "Grant" to homebuyer for closing costs. MBOH pays a portion of the lender fees at closing to reduce closing costs for borrower.