Regular Bond Loan Program

Montana Housing’s Regular Bond Loan Program is a 30-year, low-interest rate loan and is geared toward first-time homebuyers when their income and purchase price is below the posted limits. The income limits are based on the income of all members of the household who are 18 or older.

The home can be located anywhere in Montana and include single family homes, planned unit development, condos and manufactured homes. To be eligible for Montana Housing programs, a homebuyer must first qualify for an FHA, VA, RD or HUD 184 first mortgage loan. Homebuyer Education may be required.

Homebuyer Education is required for:

  • All borrowers receiving loans through Set-aside program
  • All borrowers who don’t have established credit
  • All borrowers in the Regular Bond Loan Program, unless they meet the criteria for an exception (below)
  • All borrowers using the Montana Veterans’ Home Loan Program

*Exception to the requirement for Homebuyer Education will be given for borrowers who meet all three of the following:

  1. Middle Credit Score of 680 or higher
  2. Front End Ratio of 31% or less
  3. Back End Ratio of 41% or less

Regular Bond and Set-aside Program Terms and Conditions