Mortgage Calculator in Montana

Calculate your monthly mortgage payment in Montana using the 2026 median home price of $430K and current local rates. Adjust the inputs below to match your situation.

Montana Housing Market at a Glance (2026)

$430K

Median Home Price

6.89%

Avg Mortgage Rate

0.84%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in Montana: Costs to Know

Average closing costs1.5% of purchase price

On a $430K home, closing costs ≈$6,450

Median household income$61,000/yr

State income tax (top rate)6.75%

First-Time Buyer Programs in Montana

Montana offers state-sponsored programs that can reduce your down payment or closing costs:

✓MBOH Bond Advantage
✓MBOH Regular Bond

How Mortgage Payments Work in Montana

A standard mortgage payment in Montana is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $430K home in Montana with a 10% down payment at 6.89% over 30 years, your principal and interest payment comes to approximately $2,546/month— not including property taxes or homeowner's insurance.

Montana's property tax rate of 0.84% adds roughly $301/month to your total housing cost on a $430K home. This rate is near the national average of ~1.1%.

Montana vs. National Average

Metric	Montana	National Avg
Median Home Price	$430,000	$420,000
Property Tax Rate	0.84%	1.07%
Avg Mortgage Rate	6.89%	6.85%
Cost of Living Index	101	100

Frequently Asked Questions — Mortgage Calculator in Montana

What is the average mortgage payment in Montana?+

Based on the median home price of $430K in Montana with a 10% down payment and 6.89% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $2,546. Adding property taxes (~$301/mo) and homeowner's insurance, total PITI is typically $2,997–$3,097/month.

What is the property tax rate in Montana?+

Montana has an average effective property tax rate of 0.84%. On the median home price of $430K, that equals roughly $3,612 per year — or $301 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in Montana?+

The typical down payment in Montana is 10% — about $43,000 on the median $430K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like MBOH Bond Advantage.

What are closing costs in Montana?+

Average closing costs in Montana are approximately 1.5% of the purchase price — about $6,450 on the median $430K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Montana?+

To afford the $430K median home in Montana under the 28% housing-cost rule, you need a gross monthly income of at least $10,704 — roughly $128K/year. The median household income in Montana is $61,000.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.