Loan Programs.

Your best loan strategy - Great choices, great rates!



Whatever your circumstances, buying a home is cause for celebration! So instead of looking at financing as the unpleasant part, we keep it simple and stress-free. With a wide range of loan options and competitive rates, we're confident we can meet most anyone's needs. And that's something to smile about.



Take a look at the overview here -- you'll get a basic idea of the loan programs available. Remember, this is just a small sample of what's available. Call us today for more information and professional input about the type of loan that may be right for your exact situation.

• Federal Housing Assistance (FHA)

• Rural Development

• Veteran's Assistance (VA)

• Montana Board of Housing 

• Mortgage Credit Certificates

• Less-Than-Perfect Credit

Conventional Loans

Conventional loans are the most widely used, offering the most flexible financing options available.



Some Examples are:

• 100% financing
• No income verification
• Interest-only loans
• Home equity lines of credit/second mortgages

Government Loans

Federal Housing Assistance (FHA)


Established in 1934, the Federal Housing Administration (FHA) seeks to improve housing standards and provide an adequate home financing system by insuring mortgages. FHA loans generally allow homebuyers the ability to purchase homes with smaller down payments and easier qualifications than conventional loans. 



Benefits:

• Low down payment (approximately 3%)
• Gifts can be used for down payments and closing costs
• Lower monthly mortgage insurance premiums
• Manufactured homes allowed
• Mortgage can be assumed with prior approval of lender



Rural Development (RD)


The USDA Rural Development Loan Guarantee is a federally funded program allowing lenders to offer 100% financing to eligible homebuyers. Those who qualify can us this program to buy a home with little or no cash. Rural Development guaranteed loans do not require mortgage insurance, so your payment will be lower than it would be with a comparable conventional loan. 



Benefits:

• No down payment required
• No private mortgage insurance required
• New manufactured homes allowed
• Mortgage can be assumed with prior approval of lender


Veteran's Assistance (VA)


This program is available for eligible veterans and active service members. This loan program can be used to purchase, build or refinance a home.



Benefits:

• No down payment required
• No private mortgage insurance required
• Manufactured homes allowed
• Mortgage can be assumed with prior approval of lender



Montana Board of Housing (MBOH)


The Montana Board of Housing (MBOH) provides loans to both low-income and moderate-income families to purchase single family homes. The MBOH uses the sale of tax-exempt revenue bonds to fund home loans for Montana homebuyers at interest rates generally lower than current market rates. The program is primarily intended for first time homebuyers. The MBOH loan may be used in conjunction with any FHA, VA, or RD loan. Certain restrictions apply, so contact us for specific guidelines.



Benefits:

• Generally lower down payments required
• Lower closing costs
• Lower interest rates



Mortgage Credit Certificates


The Mortgage Credit Certificate (MCC) is generated from a program offered by the Montana Board of Housing. A qualified homebuyer using an MCC is able to claim up to 20% of their annual mortgage interest paid as a federal income tax credit. The remaining mortgage interest (80%) continues to qualify as an itemized deduction. This provides you with a dollar-for-dollar reduction of your federal income taxes! The MCC may be used in conjunction with any conventional, FHA, VA, or RD loan.

Less-Than-Perfect Credit

Capital Family Mortgage has access to many lenders who specialize in loans for borrowers with credit challenges. We will find a loan for your particular situation with the best interest rates and terms available.

Contact our office for a free personal consultation. We will be happy to discuss your individual situation and advise you accordingly.