Compare Great Falls, MT 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 Great Falls.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Great Falls. Plus, shopping lenders is free and there is no obligation.
January 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Great Falls. Understand how much you need to earn to afford a home in Great Falls, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Great Falls fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Great Falls is right for you.
The median home value for Great Falls, MT (Cascade County) is $238,766
Based on current mortgage rates and a 10% down payment, you need to make $39,121 per year to buy the median priced home in Great Falls
With this income, you could qualify for a $214,889 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 Great Falls is $906
The median household income for Great Falls, MT (Cascade County) is $55,370
Based on this income, you can afford a home valued at approximately $337,938
The home price you can afford to buy based on household income in Great Falls is 142% of the median home value which means housing prices are average. Great Falls (Cascade County) ranks 35 out of 56 counties in Montana and 2,695 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Great Falls, MT is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Great Falls (Cascade County) below.
Conforming loan limits for Great Falls, MT
FHA loan limits for Great Falls, MT
VA loan limits for Great Falls, MT