Montana mortgage payment calculator

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

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Rate via FRED

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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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Affordability calculator

Income, savings, and debts in — max home price and qualification signal out.

PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

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.