Montana Mortgage Calculator
Estimate your monthly mortgage payment in Montana based on the state median home price of $430K, a 0.74% property tax rate, and $2K/year homeowners insurance.
Why This Matters in Montana
In Montana, property taxes average 0.74% of assessed value. On the state median home of $430K, that adds $265/month to your mortgage payment — close to the national average. Combined with $175/month for homeowners insurance, your non-mortgage housing costs in Montana total $440/month before you even account for principal and interest.
Montana's median home price of $430K places it among the more expensive states. Buyers here benefit from shopping multiple lenders aggressively — even a 0.25% rate difference saves $81/month on the median home.
What to Expect for a Mortgage Payment in Montana
On the median Montana home priced at $430K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $2,446 per month. Add $265/mo in property taxes and $175/mo for homeowners insurance, and the total PITI comes to approximately $2,886 each month. That median price sits about 23% above the national median of roughly $350K, which directly shapes how much house most Montana borrowers can realistically target.
At $430K, Montana's median home price falls in a moderate range nationally. Buyers have the full spectrum of financing options available: conventional loans at 5–20% down, FHA loans at 3.5%, and VA loans at 0% for eligible veterans. Putting 20% down ($86K) eliminates PMI and drops the monthly payment to roughly $2,614, saving about $272 per month compared to the 10%-down scenario.
Homeowners insurance in Montana averages around $2K per year, which adds $175 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the MBOH Regular Bond Program program, which offers up to $15,000 dpa for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.