Updated 1/23/2026

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.

Connect with a DPA team

How Down Payment Assistance Works

I need to give a quick overview of how down payment assistance works. After that, the programs are listed.

With down payment assistance, you'll run into two different types:

  • A grant

  • A loan

A Grant

If we meet the qualifications up front, then it's money that does not need to be repaid.

A Loan

If the down payment assistance comes in the form of a loan, then pay attention to the three different types:

  • Repayable

  • Deferred

  • Forgivable

Repayable is just as most imagine. It charges interest over a certain amount of time, with monthly payments until it's paid off.

Deferred loans usually don't require a monthly payment, and typically don't charge interest. It's due in full when you refinance, sell the home, or when it ceases to be your primary residence.

Forgivable loans will disappear if you meet the criteria, which usually comes down to keeping the home as your primary residence for a specific amount of time.

Okay with that, here are the programs!

Montana

Montana Board of Housing (MBOH) Regular Bond Loan Program

  • Bond Advantage: Provides a loan of up to $15,000 (amortizing over 15 years) to cover down payment and closing costs.

  • MBOH Plus: Provides a 0% interest deferred loan of up to $15,000 (previously 5%) for eligible borrowers with lower income/asset levels.

  • Who Qualifies: First-time homebuyers (or those purchasing in targeted areas) using an MBOH first mortgage.

  • Repayment: Bond Advantage requires monthly payments; MBOH Plus is deferred until sale, refinance, or payoff of the first mortgage.

  • Website: https://commerce.mt.gov/Housing/Homeownership/Down-Payment-Assistance

NeighborWorks Montana Down Payment Assistance

  • HOME Deferred Loan: Provides $2,500 to $65,000 in gap financing for buyers earning 80% or less of the Area Median Income (AMI). Repayment is deferred (0% interest).

  • Statewide Low-Mod Loan: Provides up to $20,000 for buyers earning up to 150% AMI. This is a repayable loan with monthly payments.

  • HomeStretch: A shared equity program offering up to 30% of the purchase price in assistance for buyers in high-cost markets.

  • Website: https://www.nwmt.org/down-payment-and-closing-cost-assistance/

Trust Montana Co-Purchase Program

Human Resource Development Council (HRDC) Down Payment Assistance

City of Billings First-Time Home Buyer Program

  • Assistance: Provides a zero-interest, deferred payment loan of up to $15,000.

  • Eligibility: First-time homebuyers earning 80% or less of the AMI.

  • Funding Status: Funding resets annually on July 1st. (As of early 2026, funding is currently available).

  • More Information: https://www.billingsmt.gov/476/First-Time-Home-Buyer

Great Falls NeighborWorks Assistance

  • Assistance: Offers a Deferred HOME Loan of up to $50,000 (0% interest, no payments) for buyers under 80% AMI.

  • 20+ Community Second: Offers up to 20% of the purchase price to eliminate mortgage insurance for buyers earning up to 150% AMI.

  • Website: https://www.nwgf.org/financing

Updated 1/23/2026

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.