Assistance program · Montana
Bond Advantage Down Payment Assistance
Montana Board of Housing loan for up to 5% of the price (maximum $15,000) for the down payment, over 15 years with low payments and the same rate as the bond program's first mortgage; there is also a Plus version, 0% and deferred, for lower incomes
At a glance
- Most it gives, per the source
- Up to 5% of the price, capped at $15,000
- What its page says; your amount depends on the price and the loan.
- Kind of help
- Repayable · Deferred
- Second loan with monthly payments
- First-time buyer?
- Not stated — ask
- The source does not say whether you must be a first-time buyer
- Minimum credit score
- 620
- The minimum the source asks for; a lender may ask for more.
- Checked
- November 5, 2026
- Against the program's official page.
Type of help
What it is
- Second loan with monthly payments
- Second loan with no payments until you sell or refinance
What it gives
Up to 5% of the price, capped at $15,000
Source text
Available for up to 5% of sales price, with a maximum of $15,000. … 15-year amortizing loan with low monthly payments. … 0% second loan, no monthly payments. … Due upon transfer or sale of property or when refinancing or paying off the first loan. A summary of what the program publishes; not a loan offer or advice. Amounts, limits and funding change without notice.
At a glance
Who qualifies
Each answer comes from the program's page. "Not stated — ask" means its page doesn't make it clear: ask before you apply.
Source text
the borrower must first be eligible for a Regular Bond Program Loan. … Minimum credit score of 620 for all borrowers. … Homebuyer education is required. … Household income limit $80,000 for 1-2 people and $90,000 for 3+ people. - First-time buyers only Not stated — ask
- Homebuyer course required Yes
- Minimum credit score 620
- Income limit Per the program table (by county and household size)
- Price limit Per the program table
- Mortgages it works with Not stated — ask
- Immigration requirement The source does not mention one — ask
- Accepts ITIN? Not stated — ask
- Spanish materials Not stated — ask
- Program status The source does not say whether it is open — ask
- Where it applies All of Montana
What its page says about being open
Its page does not say whether the program is open or has funds. Ask the lender or the agency before counting on it. Read on the official page on November 5, 2026.
Your area in numbers
What buying costs in Montana
The program covers all of Montana. The first column is Montana's figure; the second runs from the lowest to the highest among its counties. Limits change by county: check yours.
The program sets its maximum price in a table. Compare it with the typical home value in Montana: $375,800.
The typical home value ($375,800) fits within Montana's FHA limit ($541,287).
The program sets its income limit in its own table. For reference, HUD's low-income limit for 4 people in Montana is $72,800.
| Figure | Montana | Lowest to highest | Source |
|---|---|---|---|
| Typical home value | $375,800 | $98,600 (Wibaux County) to $667,600 (Gallatin County) | U.S. Census Bureau |
| FHA limit (one-unit home) | $541,287 | $541,287 (Beaverhead County) to $754,400 (Yellowstone County) | HUD |
| Conforming limit (one-unit home) | $832,750 | $832,750 in all 56 counties | FHFA |
| HUD low income (80%), household of 4 | $72,800 | $72,800 (Beaverhead County) to $104,150 (Gallatin County) | HUD |
Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024) · FHA mortgage limits (HUD) (2026 data) · Conforming loan limits (FHFA) (2026 data) · Income Limits (HUD) (Fiscal year 2026)
Step by step
How to use it, step by step
Each step comes from what the program's page says. What its page leaves out is further down, in the questions.
Find a participating lender-
Ask first whether it is open
Its page does not say whether it is open or still has funds. That is the first thing to ask.
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Find your county in the income table
The limit changes with the county and the number of people in your household. Count the income of everyone the program asks you to add.
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Check your county's maximum price
The program sets a maximum price per county in its table.
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Take the homebuyer course
The program requires it. HUD-approved housing counseling agencies teach courses. Montana has 11 agencies on HUD's list, and 1 serve people in Spanish.
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Check your score: the published minimum is 620
That is the program's minimum; the lender may ask for more. If you are short, a housing counselor can explain how to raise it.
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Find a participating lender: state programs do not take applications directly; the lender reserves the assistance while processing your mortgage.
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Compare the total cost before you sign
Ask about the total cost. The mortgage with assistance may carry a higher rate than without it, and some programs charge for the course or a fee.
Before you call
What to ask
Its page leaves 6 points unclear. Write them down for when you talk to Montana Board of Housing.
What its page does not say
- Is it open now, and does it still have funds?
- Is it only for first-time buyers?
- Which mortgage types does it work with: FHA, VA, USDA or conventional?
- Which immigration status or residency documents do you ask for?
- Do you accept an ITIN?
- Do you have materials or staff in Spanish?
Worth asking for this kind of help
- What rate and monthly payment does the second loan have?
- When is the second loan repaid: when I sell, refinance or pay off the mortgage?
Against the others
How it compares with Montana's other programs
The 2 programs we checked in Montana, with the same fields from their official pages. "Doesn't say" means its page does not make it clear.
It is the only one of Montana's 2 programs whose page does not say whether you must be a first-time buyer. It is the only one that publishes an amount with the figure in its own wording. It is the only program in Montana on our list with "repayable" help. It is the only one that requires a homebuyer course.
Swipe the table to see every column.
| Program | Kind of help | Published amount | First-time buyers only | Course required | Accepts ITIN | Where it applies |
|---|---|---|---|---|---|---|
| Bond Advantage Down Payment Assistancethis program | Repayable · Deferred | Up to 5% of the price, capped at $15,000 | Doesn't say | Yes | Doesn't say | Statewide |
| Mortgage Credit Certificate (MCC) | Tax credit | Not published | Yes | Doesn't say | Doesn't say | Statewide |
Sources
How we checked this program
We read the program's official pages on November 5, 2026 and copied their text as it appears on them. We add no amounts or requirements those pages do not state, and a program is listed as open or closed only when its page says so.
We check every program again. If more than 180 days pass without a check, the page says so.
Get free help applying
A HUD-approved housing counselor explains the program's requirements, goes over your numbers and tells you what to ask the lender. They do not sell loans.
Find a counselor (HUD)Read before you apply
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Help and programs
Down payment assistance: how it works
What down payment assistance is, the types that exist (grant, forgivable or deferred second loan, tax credit), who qualifies and where to find it.
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Help and programs
Homebuyer education courses: when you need one
What a homebuyer education course is, when Fannie Mae, Freddie Mac and assistance programs require one, and where to take it for free or in Spanish.
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Help and programs
HUD housing counselors: what they do and what they cost
What a HUD-approved housing counselor does, what they help with (buying, renting, missed payments, credit), what they may charge and how to find one.
Your county
Price and income limits depend on the county. Your county page has the typical value, the FHA limit and the counseling agencies that can walk you through the application.