Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance is a shared-appreciation loan for homebuyers in Pablo, Montana, administered by Salish and Kootenai Housing Authority (SKHA). The Salish and Kootenai Housing Authority's Flathead Finance Program provides down payment assistance, closing cost assistance, and subsidized mortgages to credit-worthy, low- and moderate-income first-time homebuyers on the Flathead Reservation who could not otherwise obtain a mortgage. Down payment assistance ranges from 4% of the purchase price up to $15,000, with the Housing Authority sharing in the home's appreciation or depreciation up to the percentage of assistance provided. Homebuyer education is required. Up to $15,000 (4% of price) down payment/closing assistance. Subsidized mortgage option. Pairs with HUD Section 184 loans. Tribal homebuyer education and post-purchase support. Keeps payment under 30% of income. Funding comes from Confederated Salish & Kootenai Tribes / SKHA Flathead Finance Program (with federal Native housing funds).

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance offers up to $15,000 in assistance. Award tiers: Down payment assistance, closing cost assistance, and subsidized mortgage provided case-by-case; DPA varies from 4% of purchase price up to $15,000. SKHA shares in the appreciated/depreciated value up to the percentage of assistance provided. Homebuyer contribution: Recommended minimum 10% down payment savings (case-by-case). Amounts are the program's published maximums, not an offer — Salish and Kootenai Housing Authority (SKHA) determines any individual award.

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance is a shared-appreciation loan and is repaid under the terms set by Salish and Kootenai Housing Authority (SKHA). Repayment is triggered by Shared appreciation - Housing Authority shares in the appreciated or depreciated value up to the percentage of assistance provided. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through SKHA Homebuyer Education course (Post-Purchase course strongly encouraged). Residency requirement: Serves residents within the boundaries of the Flathead Reservation; DPA recipients must be enrolled members of the Confederated Salish & Kootenai Tribes. Citizenship or immigration status: Down payment assistance recipients must be enrolled members of the Confederated Salish & Kootenai Tribes and at least 18 years old. Restricted to enrolled members of the Confederated Salish & Kootenai Tribes, age 18+, first-time buyers. Shared-appreciation equity structure. First come, first served; credit report required on all applicants. Exact county/product list best confirmed with the agency at application.

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance sets its income limit as follows: Low- and moderate-income; assistance evaluated by income and family size to keep payment under 30% of income. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance names American Indian and Alaska Native homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance serves homebuyers purchasing in Pablo, Montana. The program targets specific areas: Flathead Indian Reservation (Confederated Salish & Kootenai Tribes), northwestern Montana.

Applications for Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance go through Salish and Kootenai Housing Authority (SKHA), which publishes the current terms and the application steps on its own site. Funds are reserved through First come, first served; case-by-case evaluation. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.