509 1st Avenue South, Great Falls, MT 59401 | 406-761-5861


Home Purchase Financing

It takes knowledge and resources to become a successful homeowner.


Many people face challenges to homeownership. Some are caught in a “renters’ trap” – they could afford a house payment but are having a difficult time saving enough funds for down payment and closing costs. Others face an “affordability gap” – the amount of the loan they qualify for, based on their income, isn’t high enough to purchase a home in their area.

NeighborWorks Great Falls offers loan programs that enable individuals and families of lower and moderate income to achieve the American Dream of homeownership. 

Eligibility for all programs depends on income, number of people in the family, and credit worthiness.

Down Payment and Closing Cost Assistance

The HOME program available through NeighborWorks Great Falls provides loans between $2,500 and $25,000 (up to $50,000 in some cases) to help fill the gap between the total financing needed and the amount the primary mortgage lender is willing to lend. These loans are available to households with income at or below 80% of the county median income, based on family size. Borrowers must be first-time homebuyers, a single parent with dependent children in the household or a household with a disabled individual. 

20+ Community Second Program

The 20+ Community Second program loans provide up to 20% of total financing needed for borrowers whose income is at or below 120% of the area median income based on family size, and who are working with participating lenders. Ask your lender if they participate in this program. Loans are between $10,000 and $50,000 and allow borrowers to provide as little as 1% of the home purchase price as down payment. This product is particularly relevant, and affordable, for people in Montana’s urban areas (Billings, Bozeman, Great Falls, Helena and Missoula) where FHA loans requiring mortgage insurance are the only other option for some borrowers and are more expensive. Borrowers are required to take a homebuyer education class and participate in a one-on-one counseling session from a NeighborWorks. Contact your lender and ask them to work with NeighborWorks Great Falls to see if this product can make homeownership a possibility for you.

Other Financing Resources

There are many organizations, cities, counties, lenders, employers and others who, like NeighborWorks Montana, are working to help make homeownership a reality for people who might not otherwise have that opportunity.

Other than conventional mortgages below are some of the types of financial products most commonly used by homebuyers in Montana. Click to learn more and work with your lender to put together a financing package that is affordable and works for you.

Matched Savings Accounts grants for low-income aspiring homebuyers
Montana Board of Housing (MBOH) loans for first-time homebuyers
Federal Housing Administration (FHA) loans for first-time homebuyers 
United State Department of Agriculture – Rural Development (USDA-RD) loans for people who live in rural areas 
US Department of Veteran Affairs (VA) loans for veterans