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RAM Program Frequently Asked Questions


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You and your spouse (partner) must be 68 years or older.  You must own the home that is on a permanent foundation in the state of Montana.  Your household must be below the posted RAM income limits.

Yes.  You may choose to receive an amount up to $10,000.

Montana guarantees your payment for 10 years, or as long as you live in your home.

Find the closest RAM counselor in your town or county from our list.  You must go through RAM Loan Counseling and the application process with one of our RAM counselors.  Find the closest counselor on this list.

The interest accrues as you receive payments. It is automatically calculated into your total loan with each payment and comes due when your loan reaches maturity or you no longer live in your home.

You receive a monthly payment on the first of each month from the MBOH for 10 years.  Your loan is offered in an amount up to 80% of the value of the FHA appraised value of your home.  We can offer up to $150,000.  We do not do loans for less than $15,000.

No. RAM payments are not considered income.  They do not have to be reported to the IRS.  They do not affect SSI or Medicare payments.


One-person household - $23,760

Two-person household - $32,040

Three-person household - $40,320

The MBOH reviews your application in regard to the eligibility requirements; notifies you of the results of the review; arranges the FHA determination of estimated value; makes a loan commitment or denial; and arranges the loan closing.

It is a mortgage loan that allows senior Montanans to convert equity from their home into supplemental monthly income.

FHA appraisals are intended to ensure the home is safe for occupancy and determine whether the property is worth the amount of the mortgage loan being requested.

The balance represents the total principal advanced to you in the form of monthly payments and any lump sum payments and interest that have accrued on the principal advance.

The application process requires potential borrowers first complete a RAM counseling program. The RAM application may be completed during the counseling program with the Montana Aging Services Network counselor. If you wish to proceed with the application process after completing the counseling session, a completed application should be submitted to the MBOH.

 Potential borrowers please call 1-800-761-6264 for the current rate.

An owner-occupied single family dwelling.  The home must meet FHA Appraisal Requirements.  The home must be located in Montana.  Modular and mobile homes are not eligible.

Yes.  Your monthly payment will remain the same during the 10-year period.

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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