, has made one or two HUD 184 loans, for both the construction of the latest land into Flathead Indian Reservation when you look at the northwestern Montana. Assistant Vp Milanna Atwood, who’s the newest bank’s home credit manager, said it wasn’t tough to personal the brand new finance and therefore they were typical of any type away from bodies-be sure program. Atwood worked tirelessly on these types of financing to your HUD’s Office regarding Native Western Software, situated in Denver, and you will she discovered the staff useful. Valley Lender off Ronan used an initial-day home buyers system offered by the brand new Montana Board off Housing (MBOH) when you look at the fraud, the fresh new customers received twenty five-year money having a great six % rate of interest. The newest financing were after that offered to help you MBOH, in addition to lender kept the fresh repair part. Atwood said that the financial institution really wants to make a whole lot more HUD 184 fund, listing one «This choice is beneficial just like the a lender can sell the fresh new money towards the supplementary market and not have to have them towards the their guides.»
