Federal Housing Administration (FHA) Loans

FHA loans are designed for borrowers who meet the guidelines, limits, and parameters set by the FHA.

FHA loans may include lower down payments and closing costs for homebuyers.

Veterans Administration (VA) Loans

VA loans are offered to veterans who served in active duty and received a Certificate of Eligibility from the military. VA sets the guidelines, limits, and parameters for these loans.

Rural Development (RD) Loans

RD loans are provided through the United States Department of Agriculture and provide financing for low to moderate income borrowers (income eligibility is determine by RD) with no down payment requirement. Properties must be located in an eligible rural area according to RD.

Montana Board of Housing Single Family Programs

Bond Program

• For Montana first-time homebuyers
  • Borrowers who have not owned a primary residence within the past three years qualify.
  • Prior ownership of a manufactured home on a leased lot is acceptable.
  • Exceptions made if property is within a targeted area of Montana.
• Loans are FHA insured, VA, or RD guaranteed.
• Household gross annual income must meet MBOH requirements.
• Maximum purchase price cannot exceed the limits established for each county.
• Homes must be occupied by the owners.

Disabled Accessible Affordable Homeownership Program

• Homeownership for people with disabilities
• Participants acquire affordable homes
• MBOH periodically sets aside money to fund this program

Recycled Single Family Mortgage Progam

• MBOH makes funds available through
  • Recycled mortgage prepayments
  • Funds under previous bond issues
• MBOH partners with local, nonprofit agencies, and local government to target housing needs.

Wyoming Community Development Authority (WCDA)

Single Family Program

• For Wyoming first-time homebuyers
  • Borrowers who have not owned a primary residence within the past three years qualify.
• Household gross annual income must meet WCDA requirements.
• Maximum purchase price cannot exceed the limits established for each county (depends on existing or new construction).
• Homes must be occupied by the owners.
• Customary closing costs and WCDA bond fee apply.

Down Payment Assistance

• Assists homebuyers who lack financial resources for a down payment
• Usually a smaller down payment
• Subject to program availability

Spruce Up Wyoming

• Program to help renovate existing homes that otherwise may not be acceptable collateral for a loan.
• Generally carry an attractive interest rate.

South Dakota Housing Development Authority (SDHDA) Single Family Programs

• For South Dakota first-time homebuyers
  • Borrowers who have not owned a primary residence within the past three years qualify.
• Household gross annual income must meet SDHDA requirements.
• Maximum purchase price cannot exceed the limits established for each county (depends on existing or new construction).
• Maximum purchase price cannot exceed the limits established for each county (depends on existing or new construction).
• Homes must be occupied by the owners.
• Customary closing costs and SDHDA bond fee apply.
• Down Payment Assistance
  • SDHDA offers down payment assistance through their Fixed Rate Plus loan. Qualified home buyers can receive up to 3% of the loan amount as a gift to help with the costs of their mortgage. The gift does not need to be repaid.
  • Speak with your lender for additional details and to see if you qualify.