NeighborWorks Montana provides home loans so people in Montana can achieve the dream of homeownership. Loans are available for between $1,500 and $50,000 to help cover down payment and closing costs. Borrowers can put in as little as 1% and do not have to be first-time home buyers.
Real Estate Development Loans
Since 2008 NeighborWorks Montana has been lending to developers of housing in Montana, providing loans to fill gaps in what has been available for housing projects. The Real Estate Development and Acquisition Program (REDA) provides loans on projects for pre-development, land or building acquisition, bridge funds for equity and other structures crafted to serve the needs of housing development partners. As a Community Development Financial Institution (CDFI) NWMT can leverage grant funds with loans from numerous sources and offers financing to help housing developers complete their financing packages. NWMT’s approach is to raise capital from entities aligned with our mission and underwrite loans based on the specific project needs rather than a specific set of defined criteria. Loans are typically short term, and structured as interest only, however other terms and structures may be considered.