Compare the first mortgage, assistance payment and certificate requirements together
Montana Board of Housing does not originate mortgages; buyers apply through participating lenders. Use the city directories above to research providers, then confirm program participation through the state's official resource. Mortgage Firm is an independent directory, and a listing does not establish participation or approval.
Prepare a household-income review for the actual county and property
The Regular Bond Loan Program is geared toward first-time buyers and uses income from all household members who are 18 or older. That program calculation can differ from the income a lender uses to qualify the mortgage. Bring the household's income records and proposed address to a participating lender. Have the lender identify the applicable county entry or the state's All Other Areas category, and check the separate income rules for any assistance option such as MBOH Plus.
Regular Bond financing requires qualification for an FHA, VA, Rural Development or HUD Section 184 first mortgage. The program page lists single-family homes, planned unit developments, condominiums and manufactured homes across Montana. A listed property category still needs review under the selected mortgage's requirements. Before making an offer, ask how the property's condition, ownership arrangements and required documents affect that specific financing file, and have the lender confirm the buyer's ownership history and program eligibility.
Distinguish a monthly assistance payment from a deferred loan balance
Board of Housing down-payment assistance starts with eligibility for a Regular Bond loan and a participating lender's review. Bond Advantage is an amortizing assistance loan with monthly payments. MBOH Plus is a deferred second loan with no monthly payments. Both are loans rather than grants. Ask for the first-mortgage estimate and the separate assistance terms together, including the buyer contribution and education requirements; less cash needed at closing does not describe the full cost or obligations.
For MBOH Plus, the agency lists sale or transfer and refinancing or paying off the first loan as repayment events. Request the current agreement and have the lender explain how the remaining assistance balance would be handled in those situations. A deferred payment does not mean the balance is forgiven. Compare Bond Advantage's monthly obligation with the deferred option's written repayment conditions and separate eligibility review before including either in a purchase budget.
Arrange the counseling session that completes an online education certificate
The Board accepts education certificates from classes offered through NeighborWorks Montana. Its education page describes limited exceptions, while the down-payment assistance page requires education for both listed assistance options. Ask the lender which requirements apply to every borrower on the proposed loan. For an online class, the Board specifies a separate face-to-face session with a HUD-approved housing counselor before the certificate is issued. Arrange that session and confirm its accepted format and certificate delivery before planning the closing timeline.
NeighborWorks Montana's homeownership resource lets visitors search by county and service category, including homebuyer education and counseling, and links to online options. Confirm the provider's actual service area, appointment availability, course cost and certificate process. For a separate pre-purchase counseling conversation, HUD's Montana page provides an approved-agency search and the referral number 800-569-4287. A counseling appointment can address household questions, but it does not by itself establish an accepted course certificate, mortgage approval or committed assistance.
- Montana Board of Housing: education exceptions and online-class counseling requirement
- Montana Board of Housing: education requirements for assistance loans
- NeighborWorks Montana: county and service search, education and online options
- HUD Montana: approved housing counseling resources and referral access
Published by Mortgage Firm, an independent directory. Program administrators and lenders determine current availability and eligibility. Our editorial approach