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Montana Veterans Home Loan Program


The Montana Veterans Home Loan Program provides first mortgage funds to Montana residents who are serving or have served in the military through the federal armed services and the Montana National Guard.  The financing interest rate is 1% lower than market and assists veterans in purchasing their first home.  Please refer to the Montana Board of Investments policies regarding this program for more information. 

NOTE:  MERS is NOT allowed in this program! 

Borrower Information:

Who is an Eligible Veteran? 

Eligible borrowers can either be serving, or have served in eligible military service. If no longer active duty, discharge must be honorable or general (not dishonorable).

Military service includes:

  •         Montana National Guard
  •         Federal reserve under Title 10 of the US Code 
  •         Active Duty under Title 10 of the US Code

Borrower may also be the surviving spouse of a deceased eligible veteran killed in the line of duty who has not remarried.

  Additional Borrower Criteria:

  • Resident of Montana (filed income tax in Montana for full previous year)
  • First-time homebuyer (no exceptions)
  • Have certificate of completion of Montana Board of Housing-approved homebuyer education class
  • Commit a minimum of $2,500 of their own cash into the purchase transaction
  • There are no income, asset or purchase price limitations
  • Maintain home as their primary residence

  Primary Residence Requirement:

  • Home is maintained as primary residence (home of record)
  • Borrower submit documentation of ongoing primary residence to Montana Board of Housing periodically
  • If home ceases to be primary residence, Borrowers will pay off the loan within 12 months (refinance or sale of property)
  • Montana Board of Housing may grant extensions to the 12 month period based on market factors and borrower’s circumstances

  Property Eligibility: 

  • Maximum loan amount is $241,119 (95% of the Montana Board of Housing's statewide average purchase price). 
  • Home must be Montana residential real property financed under the Montana Small Tract Financing Act
  • Home can be either existing home or new construction; NO CONDOMINIUMS can be financed
  • Post-1976 de-titled manufactured homes on permanent foundations are eligible if insured by FHA, VA, or HUD 184.
  • For a manufactured home, an engineering certificate is required to show that the foundation is certified for that site and for that particular home.

Loan Criteria:

  • 30-year amortized fixed rate loan
  • Must be first lien mortgage under the Montana Small Tract Financing Act
  • Loan must be insured by FHA, VA, or HUD 184
  • Loans are purchased by Montana Board of Investments (BOI)
  • Lenders allowed to charge up to 2% as allowed by insurer/guarantor
  • Borrowers make monthly payments to Montana Board of Housing
  • Monthly payments include taxes and insurance for escrow account

Informational Flyer (05/30/17)

Application Process: 

The first step is to complete an Montana Board of Housing-approved homebuyer education class.

Applications for loans are made through an originating lender certified for the program by Montana Board of Housing.

Lender Information:

"How to" upload documents in Lender Online!

Current Rates & Availability

Lender Training (Under Construction)

Terms and Conditions (05/30/17)

Frequently Asked Questions

Informational Flier

First Time Homebuyer Education

Loan Program Criteria

Lender Documents to Reserve a Montana Veterans' Home Loan Program Loan:

Borrower Stat Sheet

Disclosure and Notice of Primary Residence Requirement

Email a copy of the original, color appraisal to Danyel Bauer and Hannah Rotter.  (After two days, check status on Lender On Line)

Lender Documents to Close a Montana Veterans' Home Loan Program Loan:

Early Delinquency Counseling Form

Veteran Mortgagor’s Affidavit

Veteran Program Closing and Purchase Checklist  (06/02/17)

Veteran Program Rider to Deed of Trust

Upload your purchase package in Lender Online

Return to HOMEBUYERS Information        Return to HOMEOWNERS Information        Return to RENTERS Information        Return to MULTIFAMILY HOUSING DEVELOPMENT Information        Return to COMMUNITY PARTNER Information        Return to INVESTORS Information

301 S. PARK AVE, STE 240 | PO BOX 200528 | HELENA, MT 59620-0528 | P: (406) 841-2840 | F: (406) 841-2841 | TDD: (406) 841-2702 | TOLL FREE: (800) 761-6264