Program guide
What to know before you click through
This is still the free fact layer. Open the official source when a detail affects eligibility, repayment, lender choice, or whether this path should stay on your shortlist.
Who qualifies?
Montana homebuyers using a participating lender and a qualifying nonprofit second-mortgage partner, Borrowers meeting the current Montana Board of Housing income, purchase-price, owner-occupancy, and first-time-buyer rules for the program family, Applicants with at least a 640 credit score, debt-to-income ratio generally at or below 32/45 unless compensating factors apply, and automated approval through DU, Buyers contributing at least 1% of purchase price and at least $1,000 of their own non-gift funds
What support do you get?
Current Montana Board of Housing materials describe the 80% Combined Program as an 80/20 structure with a first mortgage at 80% loan-to-value or less and a nonprofit-provided second mortgage covering the remaining 20% of purchase price, subject to a combined loan-to-value ratio no higher than 105%.
Do you repay it?
Current official materials do not present one universal borrower repayment table for the partner second mortgage, but they do make clear that the first mortgage is a 30-year fixed conventional loan and that the nonprofit partner retains and services the Community Seconds second mortgage. Public wording should therefore describe the structure and partner-second requirements without inventing a single statewide second-mortgage amortization schedule that the public materials do not fully publish.
How do you apply?
Work with a Montana Board of Housing participating lender, complete the required homebuyer education, qualify for the Fannie Mae HFA Preferred conventional first mortgage, obtain the nonprofit partner's second-mortgage eligibility letter, and close the 80/20 structure through the lender without cash back at closing.
Official source evidence
Current Montana Board of Housing materials show the 80% Combined Program remains live statewide as the conventional 80/20 alternative, pairing a 30-year fixed Fannie Mae-eligible first mortgage at 80% LTV or less with a nonprofit-provided Community Seconds second mortgage under a combined loan-to-value cap of 105%.
View official source
Last verified
2026-04-23
current rates verified 2026-03-06; current terms revised August 2025
Paid preview
What paid access adds for Montana Board of Housing 80% Combined Program
See the shape of the comparison output, risk checks, lender questions, and next-step checklist before you decide whether this program is worth carrying into the paid layer.
Example paid output for this program. The free page stays visible either way.
Comparison preview
Montana Board of Housing 80% Combined Program
Amount: Current Montana Board of Housing materials describe the 80% Combined Program as an 80/20 structure with a first mortgage at 80% loan-to-value or less and a nonprofit-provided second mortgage covering the remaining 20% of purchase price, subject to a combined loan-to-value ratio no higher than 105%.
Repayment: Current official materials do not present one universal borrower repayment table for the partner second mortgage, but they do make clear that the first mortgage is a 30-year fixed conventional loan and that the nonprofit partner retains and services the Community Seconds second mortgage. Public wording should therefore describe the structure and partner-second requirements without inventing a single statewide second-mortgage amortization schedule that the public materials do not fully publish.
First-time buyer: Varies
Risk checks preview
What gets flagged before you call a lender
- Montana Board of Housing 80% Combined Program requires a participating lender.
- Montana Board of Housing 80% Combined Program must be paired with a specific first mortgage.
Lender questions preview
Questions tied to this exact path
- Is your team approved to originate Montana Board of Housing 80% Combined Program for this household and loan setup?
- Which first-mortgage product must be paired with Montana Board of Housing 80% Combined Program, and what breaks eligibility?
Action checklist preview
What you would do next
- Review the official 80% Combined Program page for Montana Board of Housing 80% Combined Program
- Ask whether your lender is approved for this exact program and loan structure.
