Montana Board of Housing Boosts Access to Affordable Homes After $42 Million Bond Sale

The Montana Board of Housing has sold nearly $42 million in bonds with the proceeds of that sale going to fund loans for first-time homebuyers.

"Thanks to the bond sale, these first-time homebuyers will have access to mortgage rates that are lower than conventional rates," said Bruce Brensdal, Executive Director of the Montana Board of Housing. "This means more Montana families will be able to purchase their own home, and will make it easier for developers to build new affordable housing units."

By paying a lower-than-conventional interest rate, low and moderate income homebuyers will save a collective $6.5 million over the course of a 30-year mortgage.

Full Story: http://commerce.mt.gov/News/PressReleases/montana-board-of-housing-boosts-access-to-affordable-homes-after-42-million-bond-sale