Getting several competing quotes and getting the best offer can save you thousands over the course of your loan.
Montana Real Estate Varied and Valuable, FHA Loans a Big Part of Things
Renowned comedian David Letterman owns a home in Montana. So does CNN boss Ted Turner. Without a doubt, Montana boasts some expensive houses.
The majority of Montana homes are more modest, though, and FHA financing therefore occupies a large space on the Montana mortgage landscape. With FHA financing on a Montana home, qualified homebuyers can obtain a low down payment and low interest rate.
Use our pre-qualify calculator to see if you're ready to pursue a Montana FHA home loan.
Montana Refinance Possibilities Helped By Relatively Stable Home Values
Montana real estate values have held up fairly well, especially in Bozeman, the college town that is routinely rated as one of the most livable cities in the U.S. Because home values have not declined precipitously, most Montana homeowners have a chance to refinance.
To find a Bozeman mortgage refinance professional today, fill out our form to the right.
Must Montana Mortgage Applicants Go It Alone?
Montana residents are famous for their self-reliant, go-it-alone mentality. This reputation is somewhat contradicted by the state's plentiful mortgage education and assistance.
Montana mortgage-seekers can visit one of the state's credit counseling agencies, receive assistance with closing costs from NeighborWorks Montana, and there is even a state program that gives homeownership vouchers to eligible residents of public housing facilities.
Use our affordability calculator to get an idea of your price range. Want to refinance a Montana home? Use our mortgage calculator to see how much money you could be saving if you qualify for today's lowest rates.
Resources:
- U.S. Department of Housing and Urban Development (HUD): Great tips for first time homebuyers across the country.
- Montana HUD: Directly aimed at current and future Montana homeowners.
- Montana Department of Commerce: Valuable information on how to obtain an affordable Montana home loan.
- NeighborWorks Montana: Free advice to Montana mortgage applicants, and in some cases even help with closing costs.
- Making Home Affordable: The Obama Administration's plan to help homeowners refinance.
- Greater Helena Area Affordable Homeownership Program: Mortgage education, including the chance to interact with local realtors and loan officers.
- City of Great Falls Web Site: If you own a home or want to own a home in Great Falls, Montana.
- City of Lewiston Web Site: For those who live or wish to live in the Lewiston region of Montana.
- IRS First Time Homebuyer Credit: First time homebuyers may qualify for up to $8,000 as a refundable federal income tax credit.
- Community Action Network Northwest Montana: Help with closing costs, information on deferred repayment plans.
