This list was published along with an article in late January 2015 by the Bozeman Daily Chronicle – outlining a variety of home loan assistance programs. RD Loans are not listed on this list and are another great resource….
List of Resources courtesy of the Bozeman Daily Chronicle – January 24, 2015
Note: Most of these programs are not restricted to first-time homebuyers unless otherwise indicated.
HRDC Homebuyer Education Courses: Free 8-hour classes offered twice monthly in Bozeman. Participants can qualify for interest-free down payment assistance up to $30,000. Call Roselle Shallah for more information at 406-585-4895 or email firstname.lastname@example.org.
Federal Housing Administration mortgage loans: Government-insured loans with low down payments and easier credit considerations. Many lenders offer FHA loans.
U.S. Department of Veterans Affairs Home Loan Guaranty Service: Government-guaranteed loans for veterans or active-duty service members. VA loans are easier to get than some mortgages and often are available with no down payment. Like FHA loans, VA loans are provided by private lenders.
U.S. Department of Agriculture Rural Development Housing and Community Facilities programs: Financing for low- and very-low-income homebuyers in rural areas. A variety of financing options are available.
American Dream Downpayment Assistance Initiative: Authorizes up to $200 million annually around the country for down payment assistance. This is only available to first-time homebuyers interested in single-family housing. Zero Downpayment Act: Eliminates the down payment requirement for those buying homes with FHA-insured mortgages. This is available for first-time homebuyers who lack the savings to make a down payment.
Home$tart: Savings match program that will triple savings toward a home up to $5,000. Funds can be used for down payment or closing costs. This program is offered through banks that are members of Federal Home Loan Bank of Seattle.