Down Payment Assistance

Montana & Idaho CDC helps qualified borrowers build a stable future through home ownership.

HomeNow Down Payment Gift Program

Building a Solid Foundation

The HomeNow Down Payment Gift Program is designed to help potential homebuyers in Montana by providing a gift which funds up to 100% of the borrower’s cash requirement to close. The gift can be used for down payment, closing costs, and other related mortgage loan expenses. The gift does not require repayment and no second lien or deed restriction will be placed on property title. HomeNow is not limited to first-time homebuyers and can be used for housing purchases and rate/term refinances.

To view a television story about the first borrower in Montana to use a HomeNow gift, CLICK HERE.
To view a television story about the first Billings family to use a HomeNow gift, CLICK HERE.


Your first step is to work with one of our participating lenders to find out if you qualify.
You do not have to apply separately for the HomeNow program.

Conventional Loan


  • Qualify for a 30-year fixed-rate mortgage through Fannie Mae’s HomeReady conventional loan program.
  • Have income within the established HomeReady income limits. Contact your lender for more information on the income limits.
  • Have a minimum 680 credit score.
  • Be purchasing an owner-occupied, primary residence in Montana.
  • Gift amount can be 3%, 4%, or 5% of your total loan amount.

FHA, VA, or RD Loan


  • Qualify for a 30-year, fixed-rate mortgage through FHA, VA, or USDA Rural Development (RD).
  • Have incomes within the established limits:   FHA and VA or RD
  • Have a minimum 640 credit score.
  • Occupy the property as a primary residence in Montana.
  • Gift amount can be 3.5% or 5% of your total loan amount.

You may use the HomeNow approved lender of your choice.

For a list of approved lenders offering the HomeNow Program in your community, click here.

If you are using a lender that is not familiar with the program or is not approved, please have them contact Melanie Calahan,
Director of HomeNow at 406-532-5716 or


Lenders must be approved by U.S. Bank to participate in the HomeNow program.

Third party origination is not allowed.

Interested lenders should contact Melanie Calahan, Director of HomeNow, at 406-532-5716 or

For more details, please see the Conventional Program Summary or Government Program Summary.

Participating lenders can log in to the portal at to see daily rates and additional program materials. You can also see details for the most recent program changes here, here, and here.