Prudential Montana Real Estate
I don't know if you have been able to move forward with a purchase yet, but home ownership is absolutely a possibility for you!
If you are willing to look at properties outside the city limits of Bozeman you could qualify for an RD loan. This program allows you to borrow up to 103% of the purchase price. The program is also a bit more lenient than traditional programs regarding debt to income ratios as well as credit score. The neat thing about RD loans is that the default level is traditionally very low as your mortgage payment will likely be consummate with your current monthly rental cost.
The Montana Board of Housing is another option that allows you to finance 102% of the purchase price. This program will allow you to purchase wherever you would like and does not have location restrictions.
If you haven't talked with your preferred lender yet, I know a couple of great ones who would love to help you explore your options! Just drop me a line and I will help you get connected.
This is a somewhat difficult question to answer without knowing your entire financial picture. My best advice would be to spend a few moments with a local lender, and they'll quickly be able to tell you what they would be able to finance for you. There are still some great loan programs available with limited down payments, some even zero. Let me know if you'd like a few names for local lenders. I have good relationships with several that would be more than willing to provide you with some additional insight to your particular situation. Thanks Jolene!