Mortgage Calculator — Montana
Pre-filled with Montana's average home price of $400000, property tax rate of 0.7%, and average insurance of $1300/year. Adjust any value below.
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Montana Housing Market
Montana saw dramatic price appreciation during the pandemic as remote workers and lifestyle buyers flooded Bozeman and Missoula. Bozeman now rivals many coastal markets in price relative to local income levels.
Affordability in Montana
Bozeman's median exceeds $600,000, making it one of the least affordable markets relative to local wages in the country. Billings and Great Falls remain considerably more accessible for buyers with Montana-based incomes.
Key Markets
First-Time Buyer Programs in Montana
Regular Bond Program
Below-market fixed-rate mortgage for first-time buyers, with income and price limits.
Bond Advantage DPA
Deferred down payment assistance paired with a Board of Housing first mortgage.
Programs are run by the Montana Housing (Board of Housing). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Montana
Montana reappraises homes every two years. Recent reforms added a homestead rate and a property tax rebate for primary residences, so check that your home is classified correctly. At Montana's average effective rate of 0.7%, a $400,000 home pays roughly $2,800/year (about $233/month).
Montana Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Montana
Montana has no real estate transfer tax and does not disclose sale prices. Closing costs are mostly lender, title and escrow fees.
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