Home Purchase Loans
Conventional Loans
Great for borrowers with good credit and a stable financial history.
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Fixed or adjustable rates
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As little as 3% down
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Ideal for primary residences, second homes, or investment properties
FHA Loans
A flexible option for first-time homebuyers or those with lower credit scores.
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Low down payment (3.5%)
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More lenient credit requirements
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Backed by the Federal Housing Administration
VA Loans
Exclusive to eligible veterans, active-duty service members, and surviving spouses.
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$0 down
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No private mortgage insurance (PMI)
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Competitive interest rates
We’re proud to serve those who’ve served. Ask us about VA eligibility!
USDA Loans
Perfect for rural and suburban homes in eligible Montana areas.
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No down payment required
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Lower mortgage insurance
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Income and location restrictions apply
Down Payment Assistance Programs
What is a down payment assistance program?
Instead of spending years saving for a down payment, you could get into your first home with little or no cash with a down payment assistance program.
Down payment assistance programs are designed to make homes more affordable for homebuyers. Programs come in several forms for eligible buyers: cash grants or secondary loans.
How do down payment assistance programs work?
Down payment assistance programs work to make homeownership more affordable and are usually for first-time homebuyers.
Most DPA programs are administered by state and local governments, private entities, charitable organizations, and even lenders like us. They are often in the form of forgivable loans and grants.
Qualifying for down payment assistance
Down payment assistance programs are often income-restricted and available to buyers in specific cities, communities, or neighborhoods only.
Other requirements may include:
First-time homebuyers only
Length of occupancy (such as 5 years for full loan forgiveness)
Homebuyer education
What makes you a first-time homebuyer?
You’ve never owned a home before or haven’t owned a home in the past three years, and the home is your primary residence.
Mortgage DPA Options
We offer several down payment assistance programs that work with conventional and FHA loans:
1
CCM Smart Start
2% assistance (up to $5,250), income and geographic limits, first-time buyer required
2
Freddie Mac BorrowSmartSM
Up to $1,250, available in all states, no first-time buyer requirement
3
The National
4% assistance, geographic limits, no first-time buyer requirement
4
Chenoa Fund
3.5% or 5% assistance, available in all states except NY
5
Essex
3.5% assistance, available in all states except NY and WA
What is a reverse mortgage?
First, what is home equity? It’s the difference between what you owe on your home (mortgage) and what your home is worth. A reverse mortgage is one way older homeowners can turn that equity into cash.
A reverse mortgage allows homeowners age 62 or older (55+ for some proprietary reverse mortgages) to borrow against the equity in their home, and receive the funds as a lump sum, fixed monthly payment, or line of credit. The loan doesn’t have to be repaid until the borrower sells the home, moves out, or passes away.
How does a reverse mortgage work?
With a traditional mortgage, you borrow money to buy or refinance a home and make monthly principal and interest payments to the lender until you pay off the loan. With a reverse mortgage, you borrow money based on your home equity (and other factors) and receive the funds directly, but you don’t have to make monthly payments to the lender. It’s important to know that you still have to pay your property taxes, homeowners insurance, HOA dues (if applicable), and maintain your home properly.
What is a jumbo mortgage loan?
Have your eye on the home of your dreams? A jumbo loan provides you with up to $5 million in financing to purchase a luxury or high-cost home or investment property. With a jumbo mortgage, your dream becomes real life!
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Down payments as low as 10% with no mortgage insurance
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Fixed-rate mortgages and adjustable-rate mortgages (ARMs) available
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Terms ranging from 10 to 30 years
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Available for primary residences, second homes, and investment properties
What are the loan limits for jumbo loans?
A jumbo loan limit of up to $5 million is higher than conventional loan limits.* Jumbos cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
