HomeStretch (HB819 Shared Equity Program)

What is HomeStretch (HB819 Shared Equity Program)?

HomeStretch (HB819 Shared Equity Program) is a shared-appreciation loan for homebuyers in Statewide, Montana, administered by NeighborWorks Montana & NeighborWorks Great Falls (Montana Community Reinvestment Plan Act / HB819).

• HomeStretch is a shared-equity homeownership program created in 2023 by Montana House Bill 819 (the Montana Community Reinvestment Plan Act). It blends State of Montana funds with private capital and contributes up to 30% of the cost of a home; in exchange the borrower agrees to a limited equity return at the time of resale. It is administered jointly by NeighborWorks Montana and NeighborWorks Great Falls and is available in 22 counties.
• Contributes up to 30% of home cost.
• No monthly payment on the shared-equity portion.
• Available to non-first-time buyers.
• Statewide reach across 22 counties.
• Reduces first-mortgage amount and monthly payment.
• Funding comes from State of Montana (HB819 / Montana Community Reinvestment Plan Act) blended with private funds.

How much assistance does it provide?

HomeStretch (HB819 Shared Equity Program) provides assistance worth 30% of the purchase price, as set by the program.

• Award tiers: Single shared-equity second; HomeStretch contributes up to 30% of home cost in exchange for a limited/shared equity return at resale.
• Buyer contribution: Borrower must contribute 1% of the purchase price from their own funds.
• Amounts are the program's published maximums, not an offer — NeighborWorks Montana & NeighborWorks Great Falls (Montana Community Reinvestment Plan Act / HB819) determines any individual award.

Do you have to pay it back?

HomeStretch (HB819 Shared Equity Program) is a shared-appreciation loan and is repaid under the terms set by NeighborWorks Montana & NeighborWorks Great Falls (Montana Community Reinvestment Plan Act / HB819).

• Repayment is triggered by Shared appreciation/limited equity return due at resale or transfer of the home.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HomeStretch (HB819 Shared Equity Program) is open to buyers who will live in the home as their primary residence.

What are the income limits?

HomeStretch (HB819 Shared Equity Program) limits household income to 140% of the area median income, which varies by county and household size.

• Borrower must be between 60% and 140% area median income (AMI) for the state or county, whichever is less; AMI for Mineral County is capped at 80%.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

HomeStretch (HB819 Shared Equity Program) serves buyers purchasing in Statewide, Montana.

• The program targets specific areas: 22 participating counties statewide split between NeighborWorks Montana and NeighborWorks Great Falls service areas.

How do you apply?

Applications for HomeStretch (HB819 Shared Equity Program) go through NeighborWorks Montana & NeighborWorks Great Falls (Montana Community Reinvestment Plan Act / HB819), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HomeStretch-specific counseling session with a NeighborWorks-approved HomeStretch counselor..

2. 2

   Contact NeighborWorks Montana & NeighborWorks Great Falls (Montana Community Reinvestment Plan Act / HB819) to reserve funds

   Funds are reserved through Lender submits NeighborWorks pre-qualification application; borrower given 60 days to shop (two 30-day extensions available)., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.