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

What is 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).

How much assistance does it provide?

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.
• Buyer 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.

Do you have to pay it back?

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.

Who qualifies?

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

Is there eligibility for specific groups?

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance names American Indian and Alaska Native buyers 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.

Where does it apply?

Salish & Kootenai Housing Authority Flathead Finance Down Payment & Closing Cost Assistance serves buyers purchasing in Pablo, Montana.

• The program targets specific areas: Flathead Indian Reservation (Confederated Salish & Kootenai Tribes), northwestern Montana.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through SKHA Homebuyer Education course (Post-Purchase course strongly encouraged)..

2. 2

   Contact Salish and Kootenai Housing Authority (SKHA) to reserve funds

   Funds are reserved through First come, first served; case-by-case evaluation., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.