Board of Housing ~ Single Family Program

Status Of Funds

REGULAR RATES ARE AT 6.0%,
IF BORROWER PAYS THE POINTS, THE RATE IS 5.875%!!!
SET-ASIDE RATE 5.5%
STATEWIDE PURCHASE PRICE MORTGAGE LIMITS ARE $237,031
EXCEPT FOR FHA, WHICH ARE $200,160
INCOME LIMITS STILL VARY ACCORDING TO AREA AND HAVE BEEN UPDATED 4/4/2007!

PROGRAM AVAILABLE FUNDS (all rates subject to change)

The set-aside rate changed on September 28, 2007 to 5.5%. For those borrowers agreeing to pay 1% origination fee and 1% discount fee, the interest rate has changed on October 1, 2007 at 5:00 P.M. to 6.0%. For the regular bond program, loans for which MBOH pays the fees can be made at 6.125%. RD loans still require a $1500 personal investment unless accredited first time homebuyer classes are completed in which case $500 of personal investment is required. Reservation fees are no longer required. Lenders must be approved to participate in the 2007 Program as well as any set-aside programs they wish to participate in. As always, all rates are subject to change at the Board's discretion.
**Please submit all required documents to participate in MBOH Programs!!**

The Montana Homeownership Network through NHS and the various NHS Programs with secondary mortgages are available at 5.5%.

Rural Housing Loan Leveraging Program's funds have a total of $975,683 at 5.5%.

Disabled Accessible Affordable Homeownership Program (DAAHP), $374,479 at 2.75-5.00%

Section 184 Program, $ 2,388,214 at 5.5%

Homestart Savings Program funds' is now part of a statewide downpayment pool at the set-aside rate. Remember that this program is meant for those meeting the criteria and not fitting into our regular bond program.

Applications for matching funds available to borrowers must be made with participating lenders and funding has been awarded by the Federal Home Loan Bank of Seattle so get your matching funds reserved today!

The MCC Program will be available through December 31, 2008.

Please remember! All lenders hoping to participate in the 2007 Programs need to have required yearly documentation delivered to MBOH before they'll be able to participate.

Date Updated: 2/7/2008