Veterans' Home Loan Program

The Montana Veterans’ Home Loan Mortgage Program was established in 2011 by the Legislature to provide first mortgage funds to Montana residents who are serving or have served in the Montana National Guard or in the national armed forces and reserves. Funds for the program are provided from the principal of the Montana Coal Tax Trust Fund as authorized by 90-6-6 MCA.

The benefit of the program is a fixed-rate, 30-year mortgage loan at 1% lower than either the Fannie Mae Daily Historical Yields (FNMA) or Montana Housing’s posted interest rate. Program funds are provided from the principal of the Montana Coal Tax Trust Fund; income, asset and purchase price limits do not apply, however, there is a loan limit. The loans are originated by Montana Housing participating lenders, purchased and held by the Montana Board of Investments, and serviced by Montana Housing.

Please note, this is a revolving program and funds are limited.  To see if there are any funds available, sign into Lender Online and click on the AVAILABLE FUNDS tab.

  • Eligible veteran with honorable service/discharge
  • No income, purchase price OR asset limits
  • True first time homebuyer (never owned a primary residence)
  • Resident of Montana
  • Must take a First Time Homebuyer class
  • Minimum $2,500 borrower investment  (out of pocket)
  • Current maximum loan amount is $485,391 (Eff 5/13/24)
  • Condo's NOT allowed in program

PLEASE NOTE: Montana Board of Investments does NOT participate in MERS.

Montana Veterans Home Loan Program Terms and Conditions