Department Of Commerce

Join us in celebrating 50 years of the Montana Board of Housing!

The Montana Board of Housing was created under the Housing Act of 1975 and is comprised of seven members appointed by the governor and confirmed by the state senate. In 1981, Montana Senate Bill 432 moved the Board of Housing from the Department of Administration to the newly established Department of Commerce.

The Board partners with a wide range of organizations that provide affordable homes in Montana by issuing mortgage revenue and other tax-exempt bonds, allocating federal Low-Income Housing Tax Credits, administering revolving loan funds for affordable development and providing targeted funds for first-time homebuyers, veterans, Montana National Guard members and other eligible homebuyers.

 Thank you to all our partners over the years who have helped us carry out our mission. 

Supporting the development of safe, accessible and affordable homes for Montanans for 50 years.

1975-2025
Here’s to another 50 years and beyond!

Timeline:

Enaction of the Housing Act of 1975.
MBOH becomes a self-sustaining agency at the Montana Department of Administration.
MBOH contracts with University of Montana’s Bureau of Business and Economic Research to produce a study of housing needs in Montana.

Over 5,000 families obtain homeownership through MBOH programs.

**Fun Fact** The average annual income of borrowers in 1980 was just $18,000 and 65 percent of households only had one wage earner.

Senate Bill 432 moved MBOH from Department of Administration to the newly established Department of Commerce.

MBOH issues $55 million in Single Family Program Bonds creating 12 percent/25-year FHA/VA guaranteed loans.
MBOH has produced $240 million in loans, creating over 2,500 jobs, $47 million in wages and $20 million in federal, state and local taxes.
Through Executive Order No. 2-87, MBOH was designated to administer the Low-Income Housing Tax Credits Program.
MBOH financed 668 multifamily units in Montana.
MBOH implements the Reverse Annuity Mortgage Loan Program.
MBOH receives approval from HUD to participate in the FHA Multifamily Risk Sharing Program.
MBOH sets aside $1 million to provide single family homes located on Native American reservations in Montana.

MBOH began issuing multifamily conduit structures to leverage the federal 4% Housing Credits.

**Fun Fact** In 2000, the median price of a single-family home in Montana was $99,500.

MBOH celebrates the 25th anniversary of its first bond issue on March 18.

MtHousingSearch.com launches to help Montanans find affordable housing.

MBOH establishes the Veterans' Home Loan Program.

MBOH established the Coal Trust Multifamily Homes Program following passage of House Bill 16.

MBOH responds to the COVID-19 pandemic with emergency rental/mortgage assistance.
The Coal Trust Multifamily Homes Program is expanded to $65 million following passage of House Bill 819.

MBOH’s cumulative support of first-time Montana homebuyers includes over 47,700 low-interest rate primary mortgage and down payment assistance loans, equating to nearly $3.8 billion dollars statewide. In addition to its support of Montana homebuyers, the Board’s portfolio includes over 9,500 affordable apartments and resident-owned mobile homes and an in-house mortgage servicing portfolio with over 6,200 active loans.

How Can MBOH Programs and Services Help YOU?

Homeownership

Housing Development