Montana Bond Advantage Down Payment Assistance Program

How is Montana Bond Advantage Down Payment Assistance Program paid back?

This repayable loan is paid back each month for 15 years and matches the fixed rate on your main mortgage.

A repayable loan means a small second mortgage; you pay it off every month, usually with your main home loan payment.

Who qualifies for Montana Bond Advantage Down Payment Assistance Program?

• Being a first-time buyer isn't required.
• Your credit score must be 620 or above.
• You also need a homebuyer education course before buying.
• This comes together with your first mortgage, a Montana Board of Housing 30-year loan at a fixed rate.

Your county and household size determine most limits. With our HUD income limits lookup, you can check local median income and see where your household stands.

How to apply for Montana Bond Advantage Down Payment Assistance Program

1. The Montana Board of Housing sends this money through approved lenders, so you apply with one alongside your mortgage.
2. Your credit, income and home get checked by the lender under program rules, and the lender reserves the money for you.
3. At closing, the help is paid toward your down payment and closing costs.

See the full rules and find out if applications are open on Montana Board of Housing's page for Bond Advantage Down Payment Assistance Program.

More Montana programs for first-time buyers

• Montana MBOH Plus 0% Deferred Down Payment Assistance Program:

  Deferred loan with a $15,000 cap and a limit of 5% of the price

Every Montana first-time buyer program · Down payment help in each state