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#greatfallsmt

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Via: Vativ #montana #montanatucker #montanacheck #montanalife #billingsmt #greatfallsmt #bozeman #snowmobile #ski #mtlife created by Cooper Tyson with Ynw_Dylxn's original sound
Calling all first time homebuyers! Are you tired of buliding weath for you landlord and would like to start building your own? Ask me how to start!

Here are the general requirements.
FICO® score at least 580 = 3.5% down payment.
FICO® score between 500 & 579 = 10% down payment.
MIP (Mortgage Insurance Premium ) is required.
Debt-to-Income Ratio < 43%.
The home must be the borrower's primary residence.
Borrower must have steady income and proof of employment.

FHA and conventional Loan limits vary based on the number of living-units on the property.

FHA loans are only allowed on 1 to 4 living-unit properties.

1 to 4 unit properties can be purchased with an FHA loan as long as the owner occupies one of the unit.

Properties with over 4 units are considered commercial properties and do not quality for FHA or conventional loans.

In Cascade County, Montana in 2023 FHA loan limits are as follows:
Single family $472,030
Duplex $604,400
Triplex $730,525
Quadplex $907,900

If you have the option to buy multifamily live in one until and rent out the others! This way your morgage will be paid for or moslty paid for with little to no money out of your pocket.

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