20+ Community Second Program

The 20+ Community Second program loans provide up to 20% of total financing needed for borrowers whose income is at or below 120% of the area median income based on family size, and who are working with participating lenders. Ask your lender if they participate in this program. Loans are between $10,000 and $50,000 and allow borrowers to provide as little as 1% of the home purchase price as down payment. This product is particularly relevant, and affordable, for people in Montana’s urban areas (Billings, Bozeman, Great Falls, Helena and Missoula) where FHA loans requiring mortgage insurance are the only other option for some borrowers and are more expensive. Borrowers are required to take a homebuyer education class and participate in a one-on-one counseling session from a NeighborWorks Montana partner organization. Contact your lender and ask them to work with NeighborWorks Montana to see if this product can make homeownership a possibility for you.