NeighborWorks HOME Montana
NeighborWorks HOME Montana is a down payment assistance program specifically designed for areas of Montana where other down payment assistance programs are not offered. This is because location is often a specific requirement of a down payment assistance program.
Through HOME, applicants can receive between $2,500 and $25,000 (or, in certain instances, as much as $40,000). This is a loan with 0% interest. Monthly payments will need to be made to pay off this loan after a 15 year period with no payments, or earlier if the house is no longer their primary residence or is refinanced.
This program is available to first-time homebuyers, single parents with dependent children in their household, or households with a disabled individual. In order to qualify, applicants have to complete a homebuying education course, pay a minimum of $1,000 towards the home purchase from their own assets, and use the house as their primary residence.
Applicants also have to meet the following income limits (as of 2020):
1 person household: $35,050
2 person household: $40,050
3 person household: $45,050
4 person household: $50,100
5 person household: $54,100
6 person household: $58,100
7 person household: $62,100
8 person household: $66,100
Other programs in Montana:
