Are you thinking of buying your first home in Montana? Would you like a free gift of money to help you purchase that first home? Unfortunately, the state of Montana does not provide free grant money directly to its residents who are first time home buyers and need help with the down payment and closing costs as some other states do. However, there is still Federal Grant money available as well as grants from private foundations. There is also first time home buyer grant money available locally in several Montana locations. This is free money that shouldn’t be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the first time home buyer grant programs that are available to Montana residents.
The Montana Housing Division
The Housing Division’s purpose is to create affordable housing opportunities for Montanans whose needs are not met by the market. They accomplish this by partnering with local housing organizations across the state to leverage the federal funding that is made available to Montana.
The Housing Division is made up of a wide array of housing programs, funded through a variety of federal funding sources. The programs can easily be divided into two major categories.
The Housing Assistance Bureau receives its funding from the U.S. Department of Housing and Urban Development (HUD) and administers the following programs:
The Section 8 programs;
The Housing Choice Voucher Program
Veterans Affairs Supportive Housing (VASH) Program
Shelter Plus Care Program
The Project-Based Section 8 Program
The HOME Investment Partnerships Program.
The Montana Board of Housing issues tax-exempt Mortgage Revenue Bonds to provide funds to purchase mortgages from participating lenders across the state of Montana and to finance development of multifamily housing.
Homeownership Program
Low rate, 30-year fixed-rate loans for low to moderate income first-time homebuyers
First-time Homebuyer Education
Foreclosure Prevention Counseling
Multifamily Program
Low Income Housing Tax Credit Program
Risk-sharing Multifamily Loans
General Obligation Multifamily Loans
Reverse Annuity Mortgage Program
Here is the information to contact the Montana Housing Division:
Montana Housing Division
301 S Park Ave Room 240
Helena MT 59601
Phone: 406.841.2840
Fax: 406.841.2841
TDD: 406.841.2702
Toll Free: 800.761.6264
Federal Grants
Besides the state programs, there are federal funds and grants available to first time home buyers in Montana through the Homes and Communities program of the United States Department of Housing and Urban Development. On their website you’ll find complete grant information, application forms, description of available funds, as well as many other helpful tools.
Every potential home buyer should investigate what they have to offer. You can visit the website by going here: US Dept. of Housing and Urban Development. Also, there is a website that has a complete list of all grant programs available through the United States Federal Government: Grants.gov. First time home buyers should plan to spend the required time investigating to determine how many individual grants they may qualify for. You can visit the website by going to Grants.gov and using the search tool to find more information.
Other Grants in Montana
In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to this website.
Here is the contact information for the HUD office in Montana:
Helena Field Office
Paul G. Hatfield US Courthouse
901 Front Street
Suite 1300
Helena, MT 59626
Phone: (406) 449-5050
Fax: (406) 449-5052
There are also these local programs available:
Great Falls Neighborhood Housing Services Inc Lender Pool Loan Program (LPL) (406) 761-5861
Havre First Time Homebuyer Program (406) 265-9226
Lewistown Homebuyer Assistance Program (HAP) (406) 538-7127
Montana Homeword Inc Reach for the Dream Program (DAP) (406) 543-3550
Montana Neighborhood Housing Services Inc of Great Falls Amortizing Down Payment and Closing Cost Program (ADPCC) (406) 761-5861
Montana Neighborhood Housing Services of Great Falls State 80% to 115% AMI Second Mortgage Program (SMP) (406) 761-5861
Multi Counties Great Falls NHS Inc of Great Falls STATE Due on Sale Program (SDOS) (406) 761-5861
