The Section 502 Direct Loan Program, also known as USDA Direct Loans, is a program that aids low and very-low-income individuals purchase decent healthy, safe and clean housing in eligible rural areas. That’s accomplished though offering payment assistance which boosts a borrower’s capacity to repay. This payment assistance can be described as a form of subsidy that lowers the mortgage repayment for a brief period, and the amount of assistance is contingent upon the adjusted family income. USDA Section 502 Direct Loans in Montana aren’t the same thing as USDA Section 502 Guaranteed Loans in Montana. The USDA Guaranteed Loan Program is more popular and accommodates a wider range of applicant incomes.

Can I get a USDA Direct Loan in Montana?

USDA Loan RequirementsUSDA Direct Loans in Montana are low income loans that can be used to purchase homes in rural areas. To qualify for Direct Loans, applicants must have low or very low income, which is defined by the USDA as 50% to 80% of the Area Median Income (AMI). Like other rural housing loan programs, USDA Direct Loans are a mortgage with no down payment. The median income for the entire state of MT is $54,970, although that figure may vary from county to county. The maximum yearly income limits for Montana USDA Direct Loan approval are listed below. Other than meeting Montana USDA Direct Loan income limits, applicants must adhere to the following criteria to be eligible:

  • You have no decent clean, safe, and sanitary housing presently.
  • You can’t be able to get a mortgage from another source with terms and conditions that could reasonably expected to be met.
  • You must use this property for your primary residence.
  • You must possess the legal capacity to be able to contract a loan
  • You must meet citizenship or eligible noncitizen requirements.
  • You can’t be barred or suspended from participation in federal programs.

Additionally, the subject property must meet the following conditions:

  • Be a modestly sized home for that area.
  • Market value can’t be in excess of the areas applicable loan limit.
  • Can’t be designed for the production of income.

What areas in MT are eligible for USDA Direct Loans?

The property in question must be in an approved rural area. USDA Rural Development provides a webpage where you can search specific addresses in MT here.

How much can I borrow with a USDA Direct Home Loan?

The size of the mortgage that an applicant’s eligible for depends on their ability to repay. Rural Development takes into account income, assets, debt, and payment assistance when weighing eligibility for USDA Direct home loans. No matter what the repayment ability is, you can’t borrow more than the local loan limit for the county where the home is located.

Are there other mortgage options with low down payment or no down payment in Montana?

Yes, there may be other low down payment mortgage options, and no down payment mortgage options in Montana besides USDA Direct Loans. You can begin by researching Montana USDA Guaranteed Loans, Montana FHA Loans, and Montana VA Loans if you’re a veteran in MT or qualified family member. You may also want to look into helpful programs for down payment assistance in Montana.

Montana USDA Direct Loan Maximum Income Limits

Area
1 Person
2 Person
3 Person
4 Person
5 Person
Beaverhead County, MT $54,950$54,950 $54,950$54,950 $72,550
Big Horn County, MT $54,950$54,950 $54,950$54,950 $72,550
Billings, MT HUD Metro FMR Area $62,650$62,650 $62,650$62,650 $82,700
Blaine County, MT $54,950$54,950 $54,950$54,950 $72,550
Broadwater County, MT $54,950$54,950 $54,950$54,950 $72,550
Carter County, MT $54,950$54,950 $54,950$54,950 $72,550
Chouteau County, MT $54,950$54,950 $54,950$54,950 $72,550
Custer County, MT $57,750$57,750 $57,750$57,750 $76,250
Daniels County, MT $59,600$59,600 $59,600$59,600 $78,650
Dawson County, MT $56,400$56,400 $56,400$56,400 $74,450
Deer Lodge County, MT $54,950$54,950 $54,950$54,950 $72,550
Fallon County, MT $57,850$57,850 $57,850$57,850 $76,350
Fergus County, MT $54,950$54,950 $54,950$54,950 $72,550
Flathead County, MT $55,700$55,700 $55,700$55,700 $73,500
Gallatin County, MT $69,600$69,600 $69,600$69,600 $91,850
Garfield County, MT $54,950$54,950 $54,950$54,950 $72,550
Glacier County, MT $54,950$54,950 $54,950$54,950 $72,550
Golden Valley County, MT HUD Metro FMR Area $58,650$58,650 $58,650$58,650 $77,400
Granite County, MT $54,950$54,950 $54,950$54,950 $72,550
Great Falls, MT MSA $54,950$54,950 $54,950$54,950 $72,550
Hill County, MT $54,950$54,950 $54,950$54,950 $72,550
Jefferson County, MT $63,600$63,600 $63,600$63,600 $83,950
Judith Basin County, MT $54,950$54,950 $54,950$54,950 $72,550
Lake County, MT $54,950$54,950 $54,950$54,950 $72,550
Lewis and Clark County, MT $66,900$66,900 $66,900$66,900 $88,300
Liberty County, MT $54,950$54,950 $54,950$54,950 $72,550
Lincoln County, MT $54,950$54,950 $54,950$54,950 $72,550
Madison County, MT $54,950$54,950 $54,950$54,950 $72,550
McCone County, MT $54,950$54,950 $54,950$54,950 $72,550
Meagher County, MT $54,950$54,950 $54,950$54,950 $72,550
Mineral County, MT $54,950$54,950 $54,950$54,950 $72,550
Missoula, MT MSA $58,650$58,650 $58,650$58,650 $77,400
Musselshell County, MT $54,950$54,950 $54,950$54,950 $72,550
Park County, MT $54,950$54,950 $54,950$54,950 $72,550
Petroleum County, MT $54,950$54,950 $54,950$54,950 $72,550
Phillips County, MT $54,950$54,950 $54,950$54,950 $72,550
Pondera County, MT $54,950$54,950 $54,950$54,950 $72,550
Powder River County, MT $54,950$54,950 $54,950$54,950 $72,550
Powell County, MT $54,950$54,950 $54,950$54,950 $72,550
Prairie County, MT $54,950$54,950 $54,950$54,950 $72,550
Ravalli County, MT $54,950$54,950 $54,950$54,950 $72,550
Richland County, MT $64,100$64,100 $64,100$64,100 $84,600
Roosevelt County, MT $54,950$54,950 $54,950$54,950 $72,550
Rosebud County, MT $59,200$59,200 $59,200$59,200 $78,150
Sanders County, MT $54,950$54,950 $54,950$54,950 $72,550
Sheridan County, MT $63,850$63,850 $63,850$63,850 $84,300
Silver Bow County, MT $54,950$54,950 $54,950$54,950 $72,550
Stillwater County, MT $63,200$63,200 $63,200$63,200 $83,400
Sweet Grass County, MT $54,950$54,950 $54,950$54,950 $72,550
Teton County, MT $55,450$55,450 $55,450$55,450 $73,200
Toole County, MT $54,950$54,950 $54,950$54,950 $72,550
Treasure County, MT $54,950$54,950 $54,950$54,950 $72,550
Valley County, MT $54,950$54,950 $54,950$54,950 $72,550
Wheatland County, MT $54,950$54,950 $54,950$54,950 $72,550
Wibaux County, MT $54,950$54,950 $54,950$54,950 $72,550

More USDA Loan Resources

USDA Direct Loan Income Limits (Low Income)
USDA Direct Loan Limits (Low Income)

All USDA Loan Limits
All USDA Loan Income Limits
USDA Loan Requirements
USDA Loan Programs
USDA Loan Calculator

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