Reverse Mortgage

Counselors available to help seniors understand the Reverse Mortgage process.


Reverse Annuity Mortgage

The Council on Aging has several RAM counselors available to help seniors understand the Reverse Mortgage process. Many low income seniors have little or no mortgage debt and might benefit from the additional income a Reverse Annuity Mortgage could provide. The Montana Board of Housing has a RAM program designed specifically designed for low income seniors. All loans are originated and serviced by the Montana Board of Housing. This program is open to seniors 68 years or older and the borrower must be an occupant of the home which is unencumbered by a mortgage or other lien. Mobil and manufactured homes are not eligible.

Borrower’s Annual family income cannot exceed:

  • 1-person $23,540
  • 2-person $31,860
  • 3-person $40,180

If you have questions or need more information, please contact Council on Aging or housing.mt.gov