Montana first-time home buyer programs
Montana Housing lists 2 programs that help buyers in Montana with the down payment or closing costs. Amounts and terms are shown as the agency publishes them.
- Programs from the agency
- 2
- Biggest amount listed
- $15,000
- First-time buyers only
- None of them
- Income caps
- Up to $90,000
Down payment assistance programs in Montana
| Program | Amount | Grant or loan | Income limit | First-time buyers only |
|---|---|---|---|---|
| Bond Advantage Down Payment Assistance Program. With a Montana Board of Housing 30-year fixed-rate first mortgage; credit score 620+; homebuyer course. | Up to 5% of the price, at most $15,000 | Repayable loan: Repaid monthly over 15 years at the same fixed rate as your main home loan. | Ask the agency | No |
| MBOH Plus 0% Deferred Down Payment Assistance Program. With a Montana Board of Housing 30-year fixed-rate first mortgage; credit score 620+; homebuyer course. | Up to 5% of the price, at most $15,000 | Deferred loan: 0% loan with no monthly payments. You repay it when you sell, refinance, give the home to someone else or pay off your main home loan. | $80,000 for 1-2 people; $90,000 for 3+ people | No |
Usually, "first-time buyers only" means you haven't owned a home during the past three years, though every program sets a rule of its own. The name of each program links to a Montana Housing page that says whether applications are open right now. Compare down payment assistance programs across all states, or ask a lender that works with Montana's programs.
How do you repay Montana's programs?
- Repayable loan: a small second mortgage you pay back monthly, usually along with your first mortgage payment.
- Deferred loan: nothing to pay each month, but the full amount comes due when you sell, refinance or pay the first mortgage off.
How does your income compare with Montana's caps?
Every program has its own income cap, which the table shows, and the exact chart is on that program's agency page. Use the HUD income limits lookup (FY2026) to find the figure for your county and household size. If a program relies on its own county chart or Freddie Mac's, the result can differ from HUD's number, and the agency's chart decides.
| HUD area | Median family income | HUD low-income limit |
|---|---|---|
| Billings | $113,000 | $85,450 |
| Bozeman | $130,200 | $104,150 |
| Lewis and Clark County | $122,400 | $94,150 |
| Jefferson County | $115,200 | $91,750 |
| Stillwater County | $112,300 | $89,850 |
HUD uses about 80% of the median as a starting point. Its own caps can hold that number down, including a yearly cap on increases, so the low-income limit is under 80% in a few areas.
Talk to a lender that works with Montana programs
These programs are paid out through the agency's approved lenders, so the lender is your next step. Tell us where you're buying and a lender that works with Montana's programs can explain which ones fit you.
Rather not call? Send your details and the lender will reach you.
Are you buying near a state border?
Idaho, North Dakota, South Dakota, Wyoming or programs for all 50 states plus DC.