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First-time buyer help · checked October 2026

First-time home buyer programs in Montana

In Montana, the place to start is the Montana Housing (Montana Board of Housing), the state’s housing finance agency. It works with approved local lenders to offer lower-cost mortgages and help with the down payment.

State agency
Montana Housing (Montana Board of Housing)
Typical help
Down payment assistance, first mortgages, tax credits
Who it is for
Mostly first-time buyers under income and price limits
Apply through
An approved participating lender
Montana

Photo: Geo. R. Mann, Public domain, via Wikimedia Commons

What state programs usually offer

  • A first mortgage through approved lenders, often paired with FHA, VA, USDA or conventional loans.
  • Down payment and closing cost assistance, as a grant, a forgivable loan or a deferred second loan that is repaid when you sell or refinance.
  • A mortgage credit certificate (MCC) in some states, which lowers your federal income tax each year you have the loan.

Who usually qualifies

  • First-time buyers, which for most programs means you have not owned a home in the past three years. Some programs also help repeat buyers or buyers in targeted areas.
  • Household income under a limit that depends on the county and household size.
  • A home price under the program’s limit for the area.
  • A minimum credit score set by the program and lender.
  • A homebuyer education course, usually online, completed before closing.

How to apply in Montana

  1. Find the Montana Housing (Montana Board of Housing) website and read the current homebuyer programs and limits. The National Council of State Housing Agencies (NCSHA) lists every state agency.
  2. Choose a lender on the agency’s list of participating lenders and ask which programs you qualify for.
  3. Take the required homebuyer education course.
  4. Get preapproved and compare the program loan with a regular loan, including any assistance repayment terms.
  5. Ask your city and county about local programs, which can sometimes be combined with state help.

Read the repayment terms

Some assistance must be repaid if you sell, refinance or move out within a set number of years. Ask the lender for the terms in writing before you rely on it.

Free, unbiased advice is available from HUD-approved housing counselors. Find one through the CFPB housing counselor search.

How much house can you afford?Check your budget before you apply

Program names, amounts and limits change. Always confirm current details with the agency and your lender. Not financial advice.

Frequently asked questions

Who runs first-time home buyer programs in Montana?

The Montana Housing (Montana Board of Housing) is the state housing finance agency. It offers its programs through approved local lenders.

Do I count as a first-time buyer in Montana?

For most programs, yes if you have not owned a home in the past three years. Check each program’s rules.

Is there down payment assistance in Montana?

State housing finance agencies, including the Montana Housing (Montana Board of Housing), typically offer down payment and closing cost assistance to eligible buyers, often as a grant, forgivable loan or deferred loan. Check current programs and limits with the agency.