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Reverse Annuity Mortgage Program

Elderly Programs consist of the Reverse Annuity Mortgage Loan Program (RAM).

The RAM program was implemented by the Board in October of 1990. The program enables senior Montana homeowners to more substantially provide for their own in-home support. Lower income seniors 68 years or older have the ability to borrow the equity in their homes and benefit from the additional income.

Income Limits

1 Person Household $22,980
2 Person Household $31,020
3 Person Household $39,060 

Program Information

2013 RAM Fact Sheet

RAM Loan Program Counselor List

RAM Approximate Monthly Income Schedule

Listen to the 60-second RAM radio promotion

Forms 

RAM Application 

RAM Medical Worksheet

RAM Counselor Checklist

RAM Counselor Verification Certification

An elderly couple in front of their door

The Montana Board of Housing RAM (Reverse Annuity Mortgage) Program cannot meet the needs of every applicant. The FHA HECM (Home Equity Conversion Mortgage) program has a much more broad coverage when considering age restrictions (62), income, need for larger monthly payments, and a wider scope for financial diversity. Several lending institutions throughout Montana provide reverse mortgage resources including HECM when the RAM program cannot fulfill your needs.

Please contact us for further information at 1-800-761-6264 or the Office on Aging at 1-800-332-2272.