Veterans' Home Loan Program
The Montana Veterans’ Home Loan Mortgage Program was established by the 2011 Montana Legislature to provide first mortgage funds to Montana residents who serve or have served in the Montana National Guard or in the national armed forces and reserves. While funding for the program initially came from the principal of the Montana Coal Tax Trust Fund as authorized by 90-6-6 MCA, House Bill 924 passed by the 2025 Montana Legislature and signed into law by Gov. Greg Gianforte moved the program from under the Coal Tax Trust Fund to a newly established Montana Housing Trust within a broader Growth and Opportunity Trust administered by the state Department of Revenue.
The benefit of the program is a fixed-rate, 30-year mortgage loan at 1 percentage point lower than the Montana Board of Housing’s Regular Bond Loan Program’s posted interest rate. Program funds are 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 MBOH participating lenders and the loans are purchased, held and serviced by MBOH.
This is a revolving loan program and funds are limited. To check funding availability, sign into Lender Online and click on the "Available Funds" tab.
Program details:
- Serves eligible veterans with honorable service or discharge.
- No income, purchase price or asset limits
- Must be a true first-time homebuyer and never previously owned a primary residence.
- Must be a Montana resident.
- Must take a first-time homebuyer class.
- A minimum $2,500 out-of-pocket borrower investment is required.
- As of July 24, 2026, the maximum loan amount is $538,036.
- Condos are not allowed under the program.
The VHLP participates and allows for loans closed using Mortgage Electronic Registration Systems, Inc. Lenders must use all MERS-related Notes and Deeds of Trust. The appropriate MERS Rider must be attached to the Deed of Trust at recording to ensure MERS compliance. If a lender uses MERS for this program, a recorded assignment to the MBOH should not be recorded. The appropriate Transfer of Servicing and Transfer of Beneficial Rights should also be done through MERS after closing and prior to submitting the loan to MBOH for purchase.