Board of Housing has $30 million for loans

Tools

By The Associated Press

Story Published: Aug 19, 2008 at 7:27 PM MDT

Story Updated: Aug 19, 2008 at 7:27 PM MDT

HELENA - The Montana Board of Housing says it has $30 million available for home loans for low and moderate income first-time home buyers.

The money will be loaned at 6.25% interest. Earlier this year, MBOH was unable to sell bonds at a rate lower than the market mortgage rate because of the effects of the subprime loan crisis on financial markets.

A new law passed by Congress excluded interest income from MBOH bonds from the alternative minimum tax, which made the bonds attractive to a wider group of investors.

Missoula

Icon
Current Temp 46.0 °F
Fair
Wind : Calm
Pressure : 1025.1 mb
Humidity : 79 %
More Weather

Butte

Icon
Current Temp 40.0 °F
Fair
Wind : Southeast at 4.6 MPH (4 KT)
Pressure : 1025.3 mb
Humidity : 77 %
More Weather

On Demand

Stock Quotes
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Poll

Do you think Montana's DUI laws need to be tougher?

  • Yes
  • No

AP Video