%20-%20Copy.png)
House Bill 819
What is HB819?
HB819 was passed in 2023 by the Montana Legislature and allocates $50 million to a down payment assistance program for homebuyers in Montana. Each county that signed on to a Community Reinvestment Organization (CRO) is earmarked a certain amount of the $50 million based on County Gross Domestic Product.
Program Pillars
-
The program will provide homebuyers 30% of the cost of the home as a loan or an investment
-
In exchange for this assistance, homebuyers agree to an equity cap of 1% per year
-
Households are eligible if they earn between 60% and 140% of Area Median Income (AMI)
-
The program also requires CROs to provide a 1:1 match of program funding, making the total pool just over $10M
How Can We Serve You as a CRO
Through this initiative, NWGF can help qualified homebuyers finance up to 30% of the total purchase price of their homes. The program creates a revolving loan fund, ensuring long-term financial support for counties while bolstering affordable housing options for generations to come.
​
NWGF will serve Cascade, Chouteau, Teton, Toole, Pondera, Blaine, and Glacier County. The program will qualify for $5,230,000 million in matching funds from the state. The CRO Down Payment Assistance Program presents counties with a unique opportunity to enhance affordable housing and support sustainable housing development.
​
The range of homebuyers this funding impacts is broader than what has been on the market and can be a game changer for hardworking Montanans. NWGF is uniquely positioned to deliver this program, given decades of experience in homebuyer education, mortgage lending, and shared equity processes.
CROs By County
Below is a map showcasing each county's participation and CRO designation. Hover over the county to see the designated CRO and click for contact information.
For questions regarding HB819, please contact Karen Cleveland, Director of Lending at 406-216-3505