Department Of Commerce

Multifamily Funding Sources

Montana Board of Housing offers a variety of loans and bonds to aid in the development of affordable homes across the State of Montana. Please see the options below and click on the links for further information or please contact us.

Highlight Sheets have been updated as of December 2025.

If interested in submitting an application, please contact Jason Hanson at jason.hanson@mt.gov

  • GO Housing – HMF (Growth and Opportunity Housing Trust – Housing Montana Fund) was established during the 2025 session. The Montana Housing Trust in the Montana Growth and Opportunity Trust permanent fund is held at the Montana Department of Revenue and is funded by scheduled transfers from the capital developments long-range building program, general fund and annual transfers of volatile revenues. This is a revolving loan fund.
    • MCAs: tbd ; ARMs: 111.501 to 507
    • Is first lien position required? NO
    • Is project required to pay property taxes? NO
    • Is the project limited to multifamily rental? NO
    • Is development or preservation of mobile home parks allowed? YES
  • GO Housing – MFHP (Growth and Opportunity Housing Trust – Multifamily Homes Program) was established during the 2025 session. The Montana Housing Trust, in the Montana Growth and Opportunity Trust permanent fund is held by the Montana Department of Revenue. This program includes $65 million established under the original Coal Trust Multifamily Homes program. This is a revolving loan fund.
    • MCAs: tbd ; ARMs: 111.801 to 807
    • Is first lien position required? YES
    • Is project required to pay property taxes? YES (except those located on tribal lands)
    • Is the project limited to multifamily rental? YES
    • Is development or preservation of mobile home parks allowed? YES
  • MBOH – HMF (Montana Board of Housing – Housing Montana Fund) was established during the 1999 session. Funding for MBOH-HMF is held by the Montana Board of Housing. This program is not funded annually and is a revolving loan fund.
    • MCAs: Title 90 Chapter 6 Part 1; ARMs: 111.501 to 507
    • Is first lien position required? NO
    • Is project required to pay property taxes? NO
    • Is the project limited to multifamily rental? NO
    • Is development or preservation of mobile home parks allowed? YES
  • MBOH – MF (Montana Board of Housing – Multifamily Loan Program) was established by the Montana Board of Housing and is funded by existing indentures of the Board. This program is not funded annually and is a revolving loan fund.
    • MCAs: none; ARMs: none
    • Is first lien position required? NO
    • Is project required to pay property taxes? NO
    • Is the project limited to multifamily rental? YES (restricted to only new construction or acquisition rehabilitation.)
    • Is development or preservation of mobile home parks allowed? NO

 Conduit Bond Program

  • Please contact the Multifamily Program for the current interest rate and available funding balance. 
  • Conduit Bonds are issued, for the purpose of financing a mortgage loan made to a sponsor of a multifamily housing project located in the State of Montana for the construction, acquisition, or rehabilitation of a Project which incorporates the use of low-income housing tax credits.