Linked Deposit

The Linked Deposit Program helps housing developers and Approved Lenders lower interest rates during the construction period of an affordable housing development.

HOMES Linked Deposit 

The HOMES Linked Deposit Program will reopen for funding requests on June 3rd, 2024.

HOMES Linked Deposit Program remaining funds: $0.00

• BOI and Approved Lender will negotiate a fully collateralized deposit per 17-6-102, MCA. Deposit amount will rely on credit quality and affordability of the project. 
• Housing developer pays Federal Home Loan Bank Community Advance Straight Line Amortizing CIA 2-year rate (FHLBCA) for the construction loan.
  • Approved Lender earns first 350 bps (3.5%).
  • BOI earns remainder (FHLBCA - 3.5%).
• Maximum 24-month term.
• Projects must be funded by June 30th, 2025.
• Projects eligible for the Low-Income Housing Tax Credit (LIHTC) may apply for more than $5,000,000. All other projects seeking more than $5,000,000 must receive BOI approval prior to application. 
• Program Requirements:
  • 40% of total units must provide for provisions to preserve long-term affordability of the housing that runs with the property for the term of the security.
  • Minimum gross density of 10 units for each acre.
  • Proceeds must be used for construction loan.

For program information and details, please contact Dan Villa at BOI.ED@mt.gov.