Wednesday, April 8, 2015
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Disabled Accessible Affordable Homeownership (DAAHP) Program

The DAAHP objective is to provide affordable, architecturally accessible homes for people with permanent physical disabilities such that they can live independently.

The DAAHP objective is to provide affordable, architecturally accessible homes for people with permanent physical disabilities such that they can live independently. This is accomplished by assisting people or families with permanent physical disabilities with the construction of new homes, to acquire and rehabilitate existing homes, and for the rehabilitation of a home whose owner or owner's family member became disabled after the house was purchased.  

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Wednesday, April 8, 2015
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Mortgage Credit Certificate (MCC) Program

The MCC allows eligible homebuyers to receive a dollar-for-dollar reduction in their federal income taxes of up to 20% of the annual interest paid on their mortgage.

The MCC allows eligible homebuyers to receive a dollar-for-dollar reduction in their federal income taxes of up to 20% of the annual interest paid on their mortgage. Borrowers can file an amended withholding statement with their employer, and increase their monthly take-home pay by the amount of the credit. This additional income can be used to help qualify a borrower for a loan. The MCC can be attached to any loan statewide, except for a loan financed through any other MBOH Program. Please keep in mind that the MCC is not a loan - it is a TAX CREDIT.

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Wednesday, April 8, 2015
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Housing Choice Vouchers

The housing choice voucher program is the federal government's major program for assisting very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market.

Single mom and her two kids sitting on a porch swing.

The participant is free to choose any housing that meets the requirements of the program and is not limited to units located in subsidized housing projects.

Housing choice vouchers are administered locally by public housing agencies(PHAs). The PHAs receive federal funds from the U.S. Department of Housing and Urban Development (HUD) to administer the voucher program.

A family that is issued a housing voucher is responsible for finding a suitable housing unit of the family's choice where the owner agrees to rent under the program. This unit may include the family's present residence. Rental units must meet minimum standards of health and safety, as determined by the PHA.

A housing subsidy is paid to the landlord directly by the PHA on behalf of the participating family. The family then pays the difference between the actual rent charged by the landlord and the amount subsidized by the program. Under certain circumstances, if authorized by the PHA, a family may use its voucher to purchase a modest home.

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Wednesday, April 8, 2015
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Homebuyer Education

Owning a home is a major financial responsibility. The Montana Board of Housing suggests that potential homebuyers take Homebuyer Education before beginning the process of qualifying for a loan or searching for a home.

Potential homebuyers attend a Homebuyer Education class.

The first step to creating successful homeowners is education. Educated homeowners stay in their homes longer, take pride in their properties, and have one-third less foreclosures.

All classes meet HUD requirements and are taught by National Center for Homeownership Education and Counseling Certified educators. Completion of a certified homebuyer class is a requirement for many specialized loan products. To receive a certificate, participants must attend all sections of the course. Courses are at least 8 hours in length and are offered over the course of a full day or two-to-three evenings depending on the organization.

Topics covered in these classes include:

  • Assessing Readiness to Buy a Home
  • Budgeting and Credit
  • Financing a Home
  • Selecting a Home
  • Maintaining a Home and Finances

Find an upcoming class near you.

Wednesday, April 8, 2015
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HOUSING DIVISION | MONTANA DEPARTMENT OF COMMERCE
301 S. PARK AVE, STE 240 | PO BOX 200528 | HELENA, MT 59620-0528 | P: (406) 841-2840 | F: (406) 841-2841 | TDD: (406) 841-2702 | TOLL FREE: (800) 761-6264