Welcome to Montana Housing’s lender page. The success of Montana Housing relies heavily on our partnership with lenders. We work with Participating Lenders throughout the state to offer low-interest loans to eligible buyers. We also offer down payment assistance and mortgage credit certificates, which may increase a potential buyers’ purchasing power.
Why a Montana Housing loan?
Who is eligible for a Montana Housing Loan?
The funds used to purchase loans are from tax-exempt bonds called Mortgage Revenue Bonds (MRB’s), therefore, the IRS imposes seven eligibility requirements for which all borrowers must qualify under:
- Annual Gross Income Limits depending on number of people living in the household.
- Purchase Price Limits that vary by county and whether an area is Targeted or Non-Targeted.
- The residence must be a borrower’s primary residence.
- Trade or business use cannot exceed 15% of the residence’s total area.
- Be a first-time homebuyer, (not owned their principal residence during the previous three-years, some exceptions apply).
- Funds must be used to purchase a home (refinancing not allowed in the programs).
- Recapture Tax is a possibility.
It is our goal to make sure our participating lenders understand our loan process by offering a variety of resources, including training for lending staff. Contact us to request training or for more program information.
Participating lenders can use our password-protected online system to submit loan reservations, check loan status, download pre-filled product forms and view updates and special product announcements. Visit Lender Online, our lender portal, to log on and get started now:
Additional Useful Information:
How to generate documents
How to upload documents
How to check for missing or final docs