VA
The benefit you earned, with no monthly mortgage insurance, handled by people who do not fumble the paperwork.
Montana is a veteran state. Malmstrom in Great Falls, the Air and Army National Guard, and a large retired military population across the western valleys. The VA loan is the strongest benefit in American housing finance and it is routinely mishandled by lenders who see two a year. We do not.
Who this is for
Veterans, active duty, Guard and Reserve, and surviving spouses.
If you have earned entitlement, the VA loan is almost always worth pricing against everything else. No monthly mortgage insurance for the life of the loan, and underwriting that uses residual income rather than a debt ratio alone. It can be used more than once, and entitlement can be restored. Pull your certificate of eligibility, then call us and we will walk you through exactly what it gets you.
- Active duty at Malmstrom and around the state.
- Montana Air and Army National Guard with qualifying service.
- Retired military buying in the western valleys.
- Surviving spouses with entitlement.
The sequence
How it actually works.
01
Certificate of eligibility
We pull your COE electronically in most cases. If service records need reconstruction, we start that on day one rather than at underwriting.
02
Confirm entitlement
Full entitlement and partial entitlement buy you very different things. We read your COE and calculate exactly what yours supports before you shop.
03
Pre-approval that holds
Underwriter-reviewed, with residual income documented, so a listing agent has no reason to discount your offer.
04
VA appraisal and MPRs
The VA appraiser checks minimum property requirements. On rural files we flag well, septic, access and outbuilding issues before the offer.
05
Funding fee handled correctly
Tier confirmed, exemption applied where a disability rating qualifies, and the fee financed if that serves you.
06
Close and keep the benefit
Entitlement can be restored on sale or payoff, and an IRRRL streamline is available later if rates fall.
What Montana makes tricky
The parts that decline a file somewhere else.
Minimum property requirements on rural properties
Wells, septic, road access and outbuildings all get looked at. Knowing what a VA appraiser will flag before the offer goes in saves the deal.
Competing against cash
Sellers in Bozeman and the Flathead have been trained to fear VA offers. A properly underwritten VA pre-approval and an agent conversation fixes that.
Manufactured and modular homes
Eligible, but with real conditions on foundation, classification and age.
The Montana Veterans Home Loan Program is a separate state program.
This is a Montana Board of Housing program. It is not the federal VA loan, it is not administered by the VA, and it uses its own rules. A Montana veteran may be eligible for the federal VA loan, the state program, or both. We price both.
Rate
4.50% as of 07/24/26. The rate resets roughly every two weeks, so confirm before you write an offer.
Loan limit
$538,036, effective 07/24/26.
No income or purchase price limits
Unlike the other Montana Housing bond programs, this one carries no income cap and no purchase price cap.
First-time homebuyer requirement
A first-time buyer requirement applies, defined as not having owned a primary residence in the last three years, with exceptions in some cases.
Not the federal VA loan
Federal VA eligibility is based on service and entitlement. The Montana program is a state bond loan with a below-market rate. They solve different problems and can sometimes be compared side by side.
How we decide
We run the federal VA loan and the state program against the same purchase and show you both payments, both fee structures and both limits before you choose.
Requirements
Typical numbers.
| EntitlementWe calculate what your entitlement supports before you write an offer. | Full or partial |
|---|---|
| Credit scoreVA sets no minimum; lender overlays do. | 620+ typical |
| Funding fee, first useStandard first-use tier; the tier can be lower depending on how the file is structured. | 2.15% |
| Funding fee, subsequent useStandard subsequent-use tier. | 3.30% |
| Funding fee exemptionAlso applies to qualifying surviving spouses and Purple Heart recipients on active duty. | Service-connected disability |
| OccupancyOccupancy generally required within 60 days. | Primary residence |
| Residual incomeVA underwrites cash left after obligations, not just a ratio. | Region and household size based |
| Monthly mortgage insurance | None, ever |
Typical figures, not program rules. Funding fee tiers and lender overlays change, and VA guidance is updated periodically. Confirm current numbers with us before you rely on them.
Questions
Asked and answered.
- That depends on whether your entitlement is full or partial, which your certificate of eligibility tells us. Partial entitlement, because you have another VA loan outstanding or had a prior loss, changes the structure. Send us the COE or let us pull it, and we will tell you exactly what yours supports and what it costs.
- It is a one-time fee paid to the VA that keeps the program running without monthly mortgage insurance. First use is 2.15% and subsequent use is 3.30% at the standard tier, and the tier moves with how the file is structured. It is waived entirely for veterans receiving compensation for a service-connected disability, for qualifying surviving spouses, and for Purple Heart recipients on active duty. It can also be financed into the loan.
- Yes. Entitlement is restored when you sell and pay off the prior VA loan, and a one-time restoration is available in some cases without selling. It is also possible to hold two VA loans at once using remaining entitlement, which comes up on PCS moves.
- In Bozeman and the Flathead, sellers have been coached to fear VA appraisals. The fix is a pre-approval that has been underwriter-reviewed and a direct conversation between our office and the listing agent about timeline and property condition. We do that call. It works.
- Most COEs come back electronically within minutes once we have your service information. If records need reconstruction, typically for older Guard or Reserve service, it takes longer and we start it immediately rather than waiting until you are under contract.
- Yes. There is no hard acreage cap on a VA loan, but the property has to be residential in use and character, and the appraiser applies minimum property requirements to the well, septic, access and outbuildings. Excess acreage with agricultural income can complicate it. Send us the parcel before you write.
You earned this benefit under conditions most people will never see. The least a lender can do is handle the paperwork correctly the first time.
Next step
Get your COE and get pre-approved.
Start the application and we will pull your certificate of eligibility, confirm entitlement, and price the federal VA loan against the Montana Veterans Home Loan Program side by side.
Opens our secure application at bisonteam.floify.com. About 12 minutes.
Calls our Montana team in Missoula. Direct line, not a call center.