Down Payment Assistance Programs

Montana Housing offers two down payment and closing-cost assistance programs that reduce the amount of up-front cash the borrower needs to purchase a home. Borrowers must qualify for a Regular Bond Program loan and additional requirements may apply.

Regular Bond Program Terms & Conditions

Bond Advantage Down Payment Assistance Program

• Can be used for down payment and closing cost assistance
• Available for up to 5% of sales price, maximum $15,000
• Same fixed rate  as the Montana Housing 30-year first mortgage
• 15 years amortizing loan with low monthly payments
• Minimum mid credit score of 620
• Homebuyer Education is required
• Borrowers must provide a minimum of $1,000 cash investment in the purchase. Borrower’s contribution can be gifted.

Bond Advantage Down Payment Assistance Terms and Conditions

MBOH Plus 0% Deferred Down Payment Assistance Program

• Can be used for down payment and closing cost assistance
• Available for up to 5% of sales price, maximum $15,000
• 0% second loan, no monthly payments
• Due upon transfer/sale of property or refinance/payoff/of first loan
• Requires a fixed rate Montana Housing 30-year first mortgage
• Household Income limit: $80,000 for 1-2 ppl & $90,000 for 3+ ppl in household
• Minimum mid credit score of 620, maximum DTI of 45%
• Homebuyer Education is required
• Borrowers must provide a minimum of $1,000 cash investment in the purchase. Borrower’s contribution can be gifted.

MBOH Plus 0% Deferred Down Payment Assistance Terms and Conditions