Montana Down Payment Assistance
Down payment assistance can significantly reduce the upfront costs of buying a home, making purchasing a home a reality for those who wouldn’t have the funds necessary for a traditional 20% down payment. Homebuyers in Montana looking for down payment assistance may apply for Chenoa Fund down payment assistance through an approved lender. CBC Mortgage Agency provides assistance in the form of secondary financing that may be either forgivable or repayable and up to 5% of the home sale price or the appraised value, whichever is lower. The type of assistance is determined by the lender based on the borrowers eligibility.
In addition to down payment assistance, CBC Mortgage Agency allows its funds to be used as closing cost assistance. This means that, you can use a portion of the financial assistance towards items such as appraisal fees, title insurance, and lender fees. Closing costs can add up quickly and can be a barrier for many homebuyers in Montana. This can help make the homebuying process more affordable and manageable for low-to-moderate income individuals and families.
Contact us today for more information about down payment assistance in Montana!
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