Department Of Commerce

Veterans' Home Loan Program

The Montana Veterans’ Home Loan Mortgage Program was established in 2011 by the Legislature to provide first mortgage funds to Montana residents who are serving or have served in the Montana National Guard or in the national armed forces and reserves. While funding for the program were initially provided from the principal of the Montana Coal Tax Trust Fund as authorized by 90-6-6 MCA, House Bill 924 passed by the 2025 Legislature and signed into law by Governor Gianforte, moved the program from under the Coal Trust Tax Fund to a newly-established Montana Housing Trust within a broader Growth and Opportunity Trust at the Montana Department of Revenue.

The benefit of the program is a fixed-rate, 30-year mortgage loan at 1% lower than the Montana Board of Housing’s Regular Bond Loan program’s posted interest rate. Program funds are provided from the Montana Housing Trust; income, asset and purchase price limits do not apply, however, there is a loan limit. The loans are originated by Montana Board of Housing participating lenders, purchased and held by the Montana Board of Housing, and serviced by Montana Board of Housing.

Please note, this is a revolving program and funds are limited.  To see if there are any funds available, sign into Lender Online and click on the AVAILABLE FUNDS tab.

  • Eligible veteran with honorable service/discharge
  • No income, purchase price OR asset limits
  • True first time homebuyer (never owned a primary residence)
  • Resident of Montana
  • Must take a First Time Homebuyer class
  • Minimum $2,500 borrower investment  (out of pocket)
  • Current maximum loan amount is $517,020 (Eff 5/13/25)
  • Condo's NOT allowed in program

PLEASE NOTE: Effective Jan. 5, 2026, Veteran’s Home Loan Program will participate and allow for loans closed utilizing Mortgage Electronic Registration Systems, Inc. Lenders will need to make certain to use all MERS related Notes, Deeds of Trust as well as attaching the appropriate MERS Rider to the Deed of Trust at recording to ensure MERS compliance. If a lender utilizes MERS for this program, then a recorded Assignment to the Montana Board of Housing should NOT be recorded. The appropriate TOS/TOB transfers should also be done through MERS after closing and prior to submittal of the loan to MBOH for purchase.

Montana Veterans Home Loan Program Terms and Conditions