HB 819 Funding Update

In 2023 the Montana Legislature passed House Bill 819 which allocates $50 million to a Home Buyer Assistance program for homebuyers in Montana. Each county that signed on is earmarked a certain amount of the $50 million based on County Gross Domestic Product. Passed with bipartisan support, the purpose of this bill was to offer a regional, community-based solution to creating affordable workforce housing that ensures our residents and future generations are able to live, work, and raise their families in the state.

In total, 46 counties have signed on for the program across Montana with 14 of them under NeighborWorks Montana’s jurisdiction as their Community Reinvestment Organization (CRO): Beaverhead, Fergus, Gallatin, Judith Basin, Lake, Lewis and Clark, Lincoln, Mineral, Missoula, Musselshell, Park, Powell, Sanders, and Valley Counties.

As a CRO, NeighborWorks Montana will be given program oversight, making the organization entirely responsible for the execution of the program, including loan underwriting, loan servicing, and raising a one-to-one match of program funding. CROs must be federally recognized charitable organizations, and for a county to access the funds allocated to them, the county must have signed a resolution to select a CRO by December 31, 2024.

Hanna Tester, Homeownership Director with NeighborWorks Montana, is eager for this program, stating, “We are excited about the potential this program has to advance new homeownership opportunities for working Montanans.”

NeighborWorks Montana will partner with NeighborWorks Great Falls as Community Reinvestment Organizations to deliver a cohesive loan product coupled with homebuyer education. NWGF was chosen as the CRO for 7 counties: Cascade, Blaine, Chouteau, Glacier, Pondera, Teton, Toole. Together they will empower hardworking Montanans across the state to achieve homeownership and build stronger, brighter futures.

The next step for NeighborWorks Montana is to secure additional match and finalize program design to make the funds available and execute the program effectively. To learn more about NeighborWorks Montana and their CRO work, visit nwmt.org/homebuyer-assistance-program-hb819.

Community Reinvestment Organization by County: