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HOMENOW-A DownPayment Gift Program


The HomeNow Program provides financing and down payment/closing cost assistance in the way of a "gift", not a loan, to the borrower through Univesal Lending Corporation, one of the first mortgage lenders in Montana.  Montana Community Development Corporation developed the program to meet the housing needs of Montana residential borrowers that meet the income levels of less than 115% Applicable Median Income(AMI).  The purpose of the loan is for a single-family borrower to purchase or refinance a primary owner-occupied residence, that are 1 or 2 units including condos, townhomes, and PUD's through FHA, CONVENTIONAL, VA, and RD loans.

TERM-30 year loan

DOWN PAYMENT ASSISTANCE-FHA, VA, and RD--3.5% or 5% assistance. Gift funds up to 100% of the homebuyer's cash to close with no contribution or refund from borrower.  CONVENTIONAL-3%, 4%, or 5% assistance.

FICO-minimum credit score of FHA, VA, and RD-640 or CONVENTIONAL-680

HOMEBUYER EDUCATION-recommended but not required.

Contact us at 406-294-2660 for more details.