Department Of Commerce

Regular Bond Loan Program

Montana Board of Housing’s Regular Bond Loan Program is a 30-year, low-interest rate loan and is geared toward first-time homebuyers when their income and purchase price is below the posted limits. The income limits are based on the income of all members of the household who are age 18 or older.

The home can be located anywhere in Montana and include single-family homes, planned unit development, condos and manufactured homes. To be eligible for MBOH programs, a homebuyer must first qualify for an FHA, VA, RD or HUD 184 first mortgage loan. Homebuyer education may be required.

Homebuyer education is required for:

  • All borrowers receiving loans through the Set-aside Program
  • All borrowers who don’t have established credit
  • All borrowers in the Regular Bond Loan Program, unless they qualify for an exception by meeting all three of the following requirements:
    1. Middle credit score of 680 or higher
    2. Front-end ratio of 31% or less
    3. Back-end ratio of 41% or less
Regular Bond and Set-aside Program Terms and Conditions