Montana Mortgage Calculator
Mortgage is next to the only affordable option for low to average income home buyers in many parts of Montana and the rest of the United States. On this page we offer a convenient Montana home loan calculator to gauge your potential expenses, and up-to-date answers to several frequently asked questions concerning buying a house in Montana.
Total principal & interest | $485 050 |
Monthly payment | $4 042.08 |
Total interest paid | $125 050 |
Payoff date | June 2035 |
Detailed payment info
Date | Payment | Principal Paid | Interest Paid | Remaining Balance |
---|---|---|---|---|
July 2025 | 4 042.08 | 2 167.08 | 1 875 | 357 832.92 |
August 2025 | 4 042.08 | 2 178.37 | 1 863.71 | 355 654.55 |
September 2025 | 4 042.08 | 2 189.72 | 1 852.37 | 353 464.83 |
October 2025 | 4 042.08 | 2 201.12 | 1 840.96 | 351 263.71 |
November 2025 | 4 042.08 | 2 212.59 | 1 829.50 | 349 051.12 |
December 2025 | 4 042.08 | 2 224.11 | 1 817.97 | 346 827.02 |
January 2026 | 4 042.08 | 2 235.69 | 1 806.39 | 344 591.32 |
February 2026 | 4 042.08 | 2 247.34 | 1 794.75 | 342 343.99 |
March 2026 | 4 042.08 | 2 259.04 | 1 783.04 | 340 084.94 |
April 2026 | 4 042.08 | 2 270.81 | 1 771.28 | 337 814.14 |
May 2026 | 4 042.08 | 2 282.63 | 1 759.45 | 335 531.50 |
June 2026 | 4 042.08 | 2 294.52 | 1 747.56 | 333 236.98 |
July 2026 | 4 042.08 | 2 306.47 | 1 735.61 | 330 930.50 |
August 2026 | 4 042.08 | 2 318.49 | 1 723.60 | 328 612.02 |
September 2026 | 4 042.08 | 2 330.56 | 1 711.52 | 326 281.45 |
October 2026 | 4 042.08 | 2 342.70 | 1 699.38 | 323 938.75 |
November 2026 | 4 042.08 | 2 354.90 | 1 687.18 | 321 583.85 |
December 2026 | 4 042.08 | 2 367.17 | 1 674.92 | 319 216.68 |
January 2027 | 4 042.08 | 2 379.50 | 1 662.59 | 316 837.19 |
February 2027 | 4 042.08 | 2 391.89 | 1 650.19 | 314 445.30 |
March 2027 | 4 042.08 | 2 404.35 | 1 637.74 | 312 040.95 |
April 2027 | 4 042.08 | 2 416.87 | 1 625.21 | 309 624.08 |
May 2027 | 4 042.08 | 2 429.46 | 1 612.63 | 307 194.62 |
June 2027 | 4 042.08 | 2 442.11 | 1 599.97 | 304 752.51 |
July 2027 | 4 042.08 | 2 454.83 | 1 587.25 | 302 297.68 |
August 2027 | 4 042.08 | 2 467.62 | 1 574.47 | 299 830.06 |
September 2027 | 4 042.08 | 2 480.47 | 1 561.61 | 297 349.59 |
October 2027 | 4 042.08 | 2 493.39 | 1 548.70 | 294 856.21 |
November 2027 | 4 042.08 | 2 506.37 | 1 535.71 | 292 349.83 |
December 2027 | 4 042.08 | 2 519.43 | 1 522.66 | 289 830.40 |
January 2028 | 4 042.08 | 2 532.55 | 1 509.53 | 287 297.85 |
February 2028 | 4 042.08 | 2 545.74 | 1 496.34 | 284 752.11 |
March 2028 | 4 042.08 | 2 559 | 1 483.08 | 282 193.11 |
April 2028 | 4 042.08 | 2 572.33 | 1 469.76 | 279 620.79 |
May 2028 | 4 042.08 | 2 585.73 | 1 456.36 | 277 035.06 |
June 2028 | 4 042.08 | 2 599.19 | 1 442.89 | 274 435.87 |
July 2028 | 4 042.08 | 2 612.73 | 1 429.35 | 271 823.14 |
August 2028 | 4 042.08 | 2 626.34 | 1 415.75 | 269 196.80 |
September 2028 | 4 042.08 | 2 640.02 | 1 402.07 | 266 556.78 |
October 2028 | 4 042.08 | 2 653.77 | 1 388.32 | 263 903.02 |
November 2028 | 4 042.08 | 2 667.59 | 1 374.49 | 261 235.43 |
December 2028 | 4 042.08 | 2 681.48 | 1 360.60 | 258 553.94 |
January 2029 | 4 042.08 | 2 695.45 | 1 346.64 | 255 858.50 |
February 2029 | 4 042.08 | 2 709.49 | 1 332.60 | 253 149.01 |
March 2029 | 4 042.08 | 2 723.60 | 1 318.48 | 250 425.41 |
April 2029 | 4 042.08 | 2 737.78 | 1 304.30 | 247 687.63 |
May 2029 | 4 042.08 | 2 752.04 | 1 290.04 | 244 935.58 |
June 2029 | 4 042.08 | 2 766.38 | 1 275.71 | 242 169.20 |
July 2029 | 4 042.08 | 2 780.79 | 1 261.30 | 239 388.42 |
August 2029 | 4 042.08 | 2 795.27 | 1 246.81 | 236 593.15 |
September 2029 | 4 042.08 | 2 809.83 | 1 232.26 | 233 783.32 |
October 2029 | 4 042.08 | 2 824.46 | 1 217.62 | 230 958.86 |
November 2029 | 4 042.08 | 2 839.17 | 1 202.91 | 228 119.69 |
December 2029 | 4 042.08 | 2 853.96 | 1 188.12 | 225 265.73 |
January 2030 | 4 042.08 | 2 868.82 | 1 173.26 | 222 396.90 |
February 2030 | 4 042.08 | 2 883.77 | 1 158.32 | 219 513.14 |
March 2030 | 4 042.08 | 2 898.79 | 1 143.30 | 216 614.35 |
April 2030 | 4 042.08 | 2 913.88 | 1 128.20 | 213 700.47 |
May 2030 | 4 042.08 | 2 929.06 | 1 113.02 | 210 771.41 |
June 2030 | 4 042.08 | 2 944.32 | 1 097.77 | 207 827.09 |
July 2030 | 4 042.08 | 2 959.65 | 1 082.43 | 204 867.44 |
August 2030 | 4 042.08 | 2 975.07 | 1 067.02 | 201 892.38 |
September 2030 | 4 042.08 | 2 990.56 | 1 051.52 | 198 901.81 |
October 2030 | 4 042.08 | 3 006.14 | 1 035.95 | 195 895.68 |
November 2030 | 4 042.08 | 3 021.79 | 1 020.29 | 192 873.88 |
December 2030 | 4 042.08 | 3 037.53 | 1 004.55 | 189 836.35 |
January 2031 | 4 042.08 | 3 053.35 | 988.73 | 186 783 |
February 2031 | 4 042.08 | 3 069.26 | 972.83 | 183 713.74 |
March 2031 | 4 042.08 | 3 085.24 | 956.84 | 180 628.50 |
April 2031 | 4 042.08 | 3 101.31 | 940.77 | 177 527.19 |
May 2031 | 4 042.08 | 3 117.46 | 924.62 | 174 409.73 |
June 2031 | 4 042.08 | 3 133.70 | 908.38 | 171 276.03 |
July 2031 | 4 042.08 | 3 150.02 | 892.06 | 168 126.01 |
August 2031 | 4 042.08 | 3 166.43 | 875.66 | 164 959.58 |
September 2031 | 4 042.08 | 3 182.92 | 859.16 | 161 776.66 |
October 2031 | 4 042.08 | 3 199.50 | 842.59 | 158 577.17 |
November 2031 | 4 042.08 | 3 216.16 | 825.92 | 155 361.01 |
December 2031 | 4 042.08 | 3 232.91 | 809.17 | 152 128.10 |
January 2032 | 4 042.08 | 3 249.75 | 792.33 | 148 878.35 |
February 2032 | 4 042.08 | 3 266.68 | 775.41 | 145 611.67 |
March 2032 | 4 042.08 | 3 283.69 | 758.39 | 142 327.98 |
April 2032 | 4 042.08 | 3 300.79 | 741.29 | 139 027.19 |
May 2032 | 4 042.08 | 3 317.98 | 724.10 | 135 709.21 |
June 2032 | 4 042.08 | 3 335.26 | 706.82 | 132 373.94 |
July 2032 | 4 042.08 | 3 352.64 | 689.45 | 129 021.30 |
August 2032 | 4 042.08 | 3 370.10 | 671.99 | 125 651.21 |
September 2032 | 4 042.08 | 3 387.65 | 654.43 | 122 263.56 |
October 2032 | 4 042.08 | 3 405.29 | 636.79 | 118 858.26 |
November 2032 | 4 042.08 | 3 423.03 | 619.05 | 115 435.23 |
December 2032 | 4 042.08 | 3 440.86 | 601.23 | 111 994.37 |
January 2033 | 4 042.08 | 3 458.78 | 583.30 | 108 535.60 |
February 2033 | 4 042.08 | 3 476.79 | 565.29 | 105 058.80 |
March 2033 | 4 042.08 | 3 494.90 | 547.18 | 101 563.90 |
April 2033 | 4 042.08 | 3 513.10 | 528.98 | 98 050.79 |
May 2033 | 4 042.08 | 3 531.40 | 510.68 | 94 519.39 |
June 2033 | 4 042.08 | 3 549.79 | 492.29 | 90 969.60 |
July 2033 | 4 042.08 | 3 568.28 | 473.80 | 87 401.31 |
August 2033 | 4 042.08 | 3 586.87 | 455.22 | 83 814.45 |
September 2033 | 4 042.08 | 3 605.55 | 436.53 | 80 208.90 |
October 2033 | 4 042.08 | 3 624.33 | 417.75 | 76 584.57 |
November 2033 | 4 042.08 | 3 643.21 | 398.88 | 72 941.36 |
December 2033 | 4 042.08 | 3 662.18 | 379.90 | 69 279.18 |
January 2034 | 4 042.08 | 3 681.25 | 360.83 | 65 597.93 |
February 2034 | 4 042.08 | 3 700.43 | 341.66 | 61 897.50 |
March 2034 | 4 042.08 | 3 719.70 | 322.38 | 58 177.80 |
April 2034 | 4 042.08 | 3 739.07 | 303.01 | 54 438.72 |
May 2034 | 4 042.08 | 3 758.55 | 283.54 | 50 680.18 |
June 2034 | 4 042.08 | 3 778.12 | 263.96 | 46 902.05 |
July 2034 | 4 042.08 | 3 797.80 | 244.28 | 43 104.25 |
August 2034 | 4 042.08 | 3 817.58 | 224.50 | 39 286.67 |
September 2034 | 4 042.08 | 3 837.47 | 204.62 | 35 449.20 |
October 2034 | 4 042.08 | 3 857.45 | 184.63 | 31 591.75 |
November 2034 | 4 042.08 | 3 877.54 | 164.54 | 27 714.21 |
December 2034 | 4 042.08 | 3 897.74 | 144.34 | 23 816.47 |
January 2035 | 4 042.08 | 3 918.04 | 124.04 | 19 898.43 |
February 2035 | 4 042.08 | 3 938.45 | 103.64 | 15 959.98 |
March 2035 | 4 042.08 | 3 958.96 | 83.12 | 12 001.02 |
April 2035 | 4 042.08 | 3 979.58 | 62.51 | 8 021.45 |
May 2035 | 4 042.08 | 4 000.31 | 41.78 | 4 021.14 |
June 2035 | 4 042.08 | 4 021.14 | 20.94 | 0 |
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Best mortgage lenders in Montana
Leading mortgage lenders in Montana have a nationwide presence. These include such recognizable names as Morty Inc, NBKC, AmeriSave.
How to calculate mortgage payment in Montana
Use our quick and user-friendly mortgage calculator MT to evaluate your future monthly expenses. A detailed step-by-step instruction follows below.
Why and How to Use Our Mortgage Calculator
Use our house payment calculator Montana for thorough planning of your future spendings. Let’s take a closer look at each field in order to gain a better understanding of the mortgage in Montana parameters.
The initial aspect to consider is the home price, representing the amount you plan to spend on your future property. A down payment is the upfront portion of this price. To avoid expensive insurance, it's crucial to come up with at least a 20% down payment, particularly for a conventional loan. The remaining amount constitutes the principal, which, for example, makes up 80% of the home price with a 20% down payment.
The loan term refers to the period for full mortgage repayment through scheduled payments. Fixed-rate conforming loans are typically allowed to extend for up to 30 years, while adjustable-rate options typically feature shorter terms.
An interest rate is a fixed or variable percentage of the principal amount that you must pay over the loan's duration. It's important to note that you are actually charged an annual percentage rate (commonly abbreviated as APR), which is not exactly the same as the interest rate. While the interest rate comprises the majority of the APR value, the latter also includes various fees such as origination fees, closing costs, insurance payments, and more.
For a more precise assessment, the interest rate used in these calculations is based on the current mortgage rates in Montana, considering a $400,000 home price and a 10% down payment.
Median property taxes in Montana counties
Property taxes represent another crucial factor to take into account when choosing your future home. A common practice among lenders is to establish a mortgage escrow account to ensure that the borrower remains current with their tax and insurance obligations.
County | Avg. property tax rate | Avg. home value |
---|---|---|
Beaverhead County | $1,311 | $192,600 |
Big Horn County | $839 | $100,000 |
Blaine County | $1,101 | $85,800 |
Broadwater County | $1,142 | $195,000 |
Carbon County | $1,242 | $227,400 |
Carter County | $689 | $97,900 |
Cascade County | $1,436 | $174,300 |
Chouteau County | $1,011 | $123,000 |
Custer County | $1,207 | $157,000 |
Daniels County | $1,085 | $123,500 |
Dawson County | $1,270 | $154,300 |
Deer Lodge County | $1,227 | $116,700 |
Fallon County | $643 | $154,200 |
Fergus County | $1,172 | $133,700 |
Flathead County | $1,777 | $270,500 |
Gallatin County | $1,889 | $344,600 |
Garfield County | $575 | $116,300 |
Glacier County | $1,102 | $105,000 |
Golden Valley County | $582 | $98,300 |
Granite County | $1,180 | $218,900 |
Hill County | $1,404 | $128,000 |
Jefferson County | $1,544 | $264,000 |
Judith Basin County | $741 | $138,500 |
Lake County | $1,515 | $224,100 |
Lewis and Clark County | $1,851 | $244,200 |
Liberty County | $940 | $108,000 |
Lincoln County | $1,033 | $175,500 |
Madison County | $1,251 | $252,200 |
McCone County | $888 | $111,900 |
Meagher County | $875 | $136,300 |
Mineral County | $1,084 | $159,800 |
Missoula County | $2,176 | $295,600 |
Musselshell County | $1,038 | $161,400 |
Park County | $1,511 | $235,600 |
Petroleum County | $553 | $112,000 |
Phillips County | $895 | $117,800 |
Pondera County | $1,207 | $122,100 |
Powder River County | $758 | $110,900 |
Powell County | $1,102 | $141,000 |
Prairie County | $742 | $100,700 |
Ravalli County | $1,401 | $246,600 |
Richland County | $859 | $213,000 |
Roosevelt County | $569 | $116,400 |
Rosebud County | $719 | $118,600 |
Sanders County | $1,106 | $205,000 |
Sheridan County | $831 | $146,500 |
Silver Bow County | $1,353 | $133,800 |
Stillwater County | $1,314 | $225,200 |
Sweet Grass County | $1,267 | $225,900 |
Teton County | $1,294 | $156,600 |
Toole County | $1,181 | $125,200 |
Treasure County | $603 | $105,500 |
Valley County | $941 | $135,600 |
Wheatland County | $621 | $89,300 |
Wibaux County | $505 | $110,100 |
Yellowstone County | $1,648 | $225,500 |
Source: American Communities Survey 2016, U.S. Census
Montana Housing Market 2025
Over the past year, there has been a sharp rise in the market value of homes in Montana, which is an extension of a long-standing trend that was intensified by the COVID-19 pandemic. However, it's important to note that the rate of growth has slowed compared to the previous year, while both purchase and refinance rates have been steadily rising for a considerable period and are anticipated to continue increasing in the near future.
How do I calculate my mortgage payment?
The most convenient way to do this is to make use of our calculator. It's powered by a simple formula, which you can also use to calculate the amount to be paid by hand:
M = P*i(1 + i)^n / (1 + i)^n – 1
M – estimated monthly mortgage payment;
P – principal;
I – monthly interest rate (to determine it, divide your annual mortgage rate by 12);
N – the loan term expressed in months (in other words, the overall number of monthly payments)
Imagine you are in the process of applying for a 15-year mortgage loan with a fixed 6.99% APR, which can be expressed as 0.0699 as a unit fraction. The house is priced at $500,000, and you intend to make a 10% down payment, equivalent to $50,000. Consequently, the principal amount (P) will be $450,000, representing 90% of the initial home cost, calculated as $500,000 minus $50,000.
I = .0699 % / 12 = .005825%.
Finally, let’s convert the loan length from years to months: N = 15 * 12 = 180.
M ($) = 450,000*.005825(1 + .005825)^180 / (1 + .005825)^180 – 1 ≈ 4042.
So, you are going to pay about $4042 a month.
It is important to note that the calculated M value is approximate, as no extra fees are taken into account.
Tips for first-time home buyers in Montana
Firstly, there are several federal agencies, including USDA, FHA, and VA, that offer loan guarantees to specific borrowers, providing various options that can suit the financial needs of many first-time homebuyers.
Apart from these government-backed programs, it's advisable to consider opportunities presented by the UHC (Montana Housing Corporation) that are accessible to residents of Montana. In particular, first-time homebuyers may apply for the FirstHome program if they qualify for an FHA loan and have a FICO score of at least 660. This program provides assistance with down payments and closing costs, covering up to 6% of the loan amount. It's important to note that this assistance is provided in the form of a 30-year fixed-rate second loan exclusively. If you do not meet the requirements for the FirstHome program, there is no need to lose hope. The Montana Housing Score Loan is an alternative program that covers up to 4%, with a minimum acceptable credit score of 620.
Here are some valuable tips for first-time homebuyers:
- Obtain pre-approval in advance. This will enhance your credibility in the eyes of home sellers. It is highly recommended to secure pre-approval letters from not just one, but at least two or three different lenders.
- Compare mortgage rates from at least three lenders. The more options you explore, the better.
- Conduct preliminary financial calculations based on the amount you have been pre-approved for to effectively plan for your future expenses.
- Start saving for a down payment as early as possible, setting aside as much as you can. A larger down payment reduces the principal amount, which, in turn, can decrease your overall potential expenses. Therefore, it's crucial to begin saving well in advance.
- If you are eligible for a VA loan, consider this option as your first choice.
- Explore government-backed plans and local assistance programs, as they may offer enticing opportunities that you won't want to miss.
- If feasible, work on paying off any existing debts before starting your home-buying journey.