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Montana Board of Housing Bond Advantage Down Payment Assistance

By Tyler Thompson · Licensed Real Estate Agent

Administered by:

Montana Board of Housing (Montana Department of Commerce)

· State · Repayable Loan

Funding status: Active

How much assistance

Up to 5% of the purchase price, from $1,500 to a maximum of $15,000

15-year amortizing loan with monthly payments, at the same fixed rate as the MBOH first mortgage.

Income limits: Must be eligible for the MBOH Regular Bond Program; limits vary by county and household size (see commerce.mt.gov current rates and limits page).
First-time buyer required: No
Credit score minimum: 620
Geographic restrictions: Statewide Montana. Requires a Montana Board of Housing 30-year first mortgage. Buyer must put in at least $1,000 cash, which can be a gift.
Homebuyer education required: Yes