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 $10,000
  • 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 $6,500
  • 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: $55,000 for 1-2 ppl & $65,000 for 3+ ppl in household
  • Minimum mid credit score of 620, maximum DTI of 43%
  • 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    DPA Program Comparison Matrix