Compare Montana mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Montana.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Montana. Plus, shopping lenders is free and there is no obligation.
June 30, 2022
Below we offer valuable insights on the housing market and real estate prices in Montana. Understand how much you need to make to buy a house in Montana, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Montana is affordable for you. We provide this helpful information to help you decide if living in Montana is right for you.
The median home value for Montana is $334,133
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Montana is $54,746
With this income, you could qualify for a $300,720 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Montana is $1,268
The median household income for Montana is $62,546
Based on this income, you can afford a home valued at approximately $381,735
The home price you can afford to buy based on household income in Montana is 114% of the median home value which means housing prices are very expensive. Montana ranks 41 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Montana is very expensive