How much house can I afford in Montana?

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

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Montana at a glance

Median home price
$527,848
Typical closing costs
1.9%–2.9% of price
Transfer tax
None
Closing custom
escrow
Homestead exemption
Montana does not have a traditional flat-dollar homestead exemption. Instead, a major 2025 property-tax reform (HB 231 / SB 542) created a 'Homestead Rate' starting with the 2026 tax year: owner-occupied principal residences (and qualifying long-term rentals, occupied/leased at least 7 months/year) that are affirmatively claimed via an application to the Dept. of Revenue receive a reduced, tiered tax rate versus the higher rate applied to second homes, short-term rentals, and non-residential property. Roughly 80% of homes saw a net tax cut under the reform, averaging over $500/year for those who benefited (on top of a separate, one-time up-to-$400 rebate). Must be actively claimed each year (2026 deadline was March 1, 2026) — not automatic like a traditional exemption.

First-time buyer / down payment assistance programs

  • Montana Housing Regular Bond Loan Program

    Montana Board of Housing's primary 30-year fixed-rate, below-market-interest-rate first mortgage for first-time homebuyers (no ownership of a principal residence in the prior 3 years, with exceptions) purchasing a home anywhere in Montana; borrowers must first qualify for an FHA, VA, RD, or HUD-184 loan. Subject to statewide/county income and purchase-price limits.

  • Montana Housing Bond Advantage DPA

    Down payment and closing cost assistance for borrowers using a Montana Housing first mortgage with an FHA or VA government loan: a low-interest second mortgage loan of $1,500 to $15,000, repaid over a term (commonly cited up to 15 years) separate from the first mortgage.

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Mortgage payment calculator

Estimated all-in monthly payment for a home price you have in mind.

First-time buyer programs

Check which down payment assistance programs you likely qualify for.

Take-home pay calculator

What actually reaches your account after federal tax, FICA, and your state's own brackets — with local income tax disclosed rather than guessed at.

Related reading

Closing Costs in Montana: What You'll Actually Pay

9 min read

Montana charges no transfer tax and no mortgage recording tax, so closing on the $527,848 median home runs about $10,029 to $15,308. Here's where it goes.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.