Montana FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Montana borrowers the opportunity to secure MT home loans, when they don't quality for other conventional loans. For example, future Montana homeowners with little credit history or poor credit history are sometimes able to qualify for Montana FHA loans.
Montana FHA Loans for First Time Homeowners
MT FHA loans are ideal for first-time Montana homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA Loans in Montana
FHA also offers a refinancing option for Montana homeowners where it's possible to refinance up to 97.5% of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85%.
FHA Loan Requirements - Montana
- No income limit
- Montana borrower credit score flexibility
- 3.5% down payment on Montana Purchase Loans
- Bankruptcy: MT FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: An FHA loan can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
Montana (MT) FHA Loan Limits
FHA loan limits in Montana vary based on a number of criteria including the specific. location (county), number of units in the property (up to 4-unit properties in Montana), etc. Please contact Home Point Financial's Montana FHA loan experts for details on loan limits for FHA loans in Montana (MT).