The Most Generous Lending Program In Montana Is Guaranteed Rural Housing (GRH) Financing

Rural Development Financing is available from many lenders in our area, with rates and qualifying hoops that many people can jump through, but this does not work for homes in Billings Montana.

Not every home can qualify, and not every borrower can qualify, but the adjusted gross income limits are worth a serious look for many home buyers. This is not just for first time home buyers either! This program will allow you to buy as much home as you can afford in the country, or even in small towns with a few highlights to consider:

• No down payment
• No monthly mortgage insurance, so this won't be an addition to your monthly payment
• No cash reserves required (but I would have some anyway)
• Credit history doesn't have to be perfect, guidelines that fit situations other lending programs won't even consider, of course, you can't have terrible credit
• No limitation on source of closing costs, can be gifted, other down payment assistance funds might be allowed
• Repairs may be financed up to 100% of the appraised or "as improved" value, I find this really helpful for people who want to purchase a discounted home that needs some fixing!

We have some really nice homes in the rural communities that may work just right for this type of mortgage. If you want to know if the area you're thinking qualifies, or not, follow the link to the Rural Development website and check this out. Then call me and we'll see if we can find you a home!

Once you get to the site, just click Property Eligibility and then Single Family, accept the info and you'll be directed to a place you can enter the zip code of the area you're interested in.