Down payment assistance in Montana
Montana's primary statewide down payment assistance program, run by Montana Housing. Numbers and eligibility reflect the program's published 2025 guidelines.
Bond Advantage DPA
Second mortgage- Maximum assistance
- Up to 5% of sale price (cap $15,000) as a 15-year second
- Income limit
- Up to $128,400 (varies by county)
- Home price limit
- Up to $625,000
- First-time buyer
- Required
- Eligible loan types
- FHA, VA, USDA, Conventional
- •Second lien at 0% interest, fully amortizing over 15 years.
- •Pairs with the Montana Bond Program first mortgage.
How Montana DPA fits into your purchase
Down payment assistance reduces the cash you need at the closing table. Montana's Bond Advantage DPA pairs with the standard FHA, VA, USDA, or conventional first mortgage from a participating lender; the DPA flows through the same closing.
Two things to budget for: most state DPA requires a homebuyer-education course (typically online, 6-8 hours, ~$75) and you usually have to use a lender on the agency's approved list. The agency keeps the list public on its website.
Common questions
Montana's primary statewide DPA is Bond Advantage DPA from Montana Housing. Up to 5% of sale price (cap $15,000) as a 15-year second. Many Montana cities and counties also run additional DPA layered on top.
Yes. The Bond Advantage DPA requires that you have not owned a primary residence in the past 3 years. Veterans and target-area buyers are sometimes exempt.
Yes. Bond Advantage DPA works with these loan types: FHA, VA, USDA, Conventional. The DPA is layered behind your first mortgage as a separate lien (or grant), and both close together.
Yes. A second-mortgage DPA has a monthly payment, and that payment is included in your debt-to-income ratio when the lender qualifies you.
Deferred and second-mortgage DPAs are generally repaid in full when you sell, refinance, or pay off the first mortgage.