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Montana Veterans Home Loan Program


2019 Legislature has approved another 10 Million dollar allocation to the Montana Veterans Home Loan Program.  Participating lenders are allowed to reserve funds immediately, however, Montana Housing cannot fund loans until after July 1, 2019 in the program. 


The objective of the Montana Veterans’ Home Loan Mortgage Program (the Program) is to provide first mortgage funds to Montana residents serving or who have served in the military through the federal armed services and the Montana National Guard. Funds for the Program are provided from the principal of the Montana Coal Tax Trust Fund as authorized by 90-6-6 M.C.A.

Montana Housing will administer the Program with the Montana Board of Investments (MBOI) purchasing the mortgages. The mortgage interest rate is 1% lower than market and assists eligible veterans purchase their first home. 


Program offers:

  • 30-year, fully amortized 1st mortgage loan
    • Insured by FHA, VA or HUD-184
    • Maximum loan amount of $269,180 (Eff. 4/19/19)
  • Fixed rate is a full 1% lower than market rates (Fannie Mae 60-day lock rate)
  • NO purchase price limits, asset limits or income limits!
  • Mortgage loan serviced IN-state by Montana Housing
    • Monthly payments include taxes & insurance for escrow account
    • Option to set up automatic monthly payments available

Borrower Eligibility:

  • Served in the federal armed services or Montana National Guard  
  • Or a surviving spouse of a deceased, eligible veteran killed in the line of duty; un-remarried
  • Pursuant to Title 10 of the U.S. Code
  • Discharged under only honorable conditions including General Discharge
  • Must be first-time homebuyer (3 year rule applies)
  • Montana resident maintaining permanent place of abode in the state

Program Requirements:

  • ALL original VA Eligibility Guarantee available
  • Must maintain property as primary residence while any portion of mortgage loan remains outstanding
    • Periodic monitoring of residency is required by program
    • Failure to respond will cause loan to be declared due in full immediately
  • Minimum $2,500 borrower investment towards down payment or closing costs
    • Sweat Equity does NOT count toward borrower investment 
  • Homebuyer Education Class is REQUIRED

Property Requirements:

  • Single family, fee simple residential property
  • Manufactured home eligible if de-titled & on a permanent foundation
    • Post-1976 double-wide and larger (single-wides not allowed)
  • New construction allowed; property & improvements must be completed prior to closing
  • Condominiums are NOT allowed in this program


Other Useful Information:

Montana Veterans Home Loan Program Terms and Conditions

First Time Homebuyer Education

Informational Flier


Additional resources not linked to on this page are available by contacting Montana Housing at 406-841-2840 and asking for a Program Specialist.

LENDERS:  Upload a copy of the original, color appraisal in Lender Online at Reservation for Montana Board of Investments approval.  NOTE:  MERS is NOT allowed in this program! 


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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