We just received this update on the Montana Board of Housing program for 2010 from our friends at First Security Bank in Missoula. As of 1/7/10:
Montana Board of Housing 2010 PROGRAM
*Reservations accepted on a “First Come, First Serve Basis”
*Interest rate is 5.125%
*Term is 30 year mortgage
*1% Origination Fee
*1% Discount Fee
*Eligible loans: FHA, VA, and Rural Development
*Homebuyer Education is required for all loans unless the allowed exceptions are met
*Setaside programs subject to approval are currently at 5.50%
*Homebuyer Education required on all setaside loans
*INCOME LIMITS- Contact your lender
Missoula County – 2 or less in family $71,280
Missoula County – 3 or more in family $83,160
*LOAN LIMITS
Missoula County purchase price limit new or existing $236,840
Mineral County purchase price limit new or existing $236,840
Sanders County purchase price limit new or existing $236,840
Ravalli County purchase price limit new or existing $236,840
Missoula County is a targeted area
For information on qualifying for a MBOH loan, contact your local Montana lender. For a list of homes that may qualify, contact Kevin and Monica Ray of Access Realty at 406-207-1185 or 406-544-3098.
