Montana · MT

Montana Mortgage Calculator

Pre-filled for Montana: median home price $460,000, average property tax rate 0.74%. Adjust any slider to make it yours.

Montana housing at a glance

Median home price: $460,000
Effective property tax rate: 0.74% / yr
Annual property tax (median home): $3,404
Est. monthly tax escrow: $284
State income tax: Yes

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Montana

The median home price in Montana is around $460,000 and the effective property tax rate averages 0.74%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

A 20% down payment on the median home in Montana is $92,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in Montana

Montana has no real estate transfer tax.

Beyond transfer taxes, total closing costs in Montanatypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $9,200–$23,000.

Foreclosure & legal context

Foreclosure type: Non-judicial (trustee sale)
Security instrument: Deed of Trust
Deficiency liability: Non-recourse (purchase-money)

Montana's Small Tract Financing Act makes most non-judicial trustee sales of residential property non-recourse — lenders can't seek a deficiency judgment.

Montana mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Montana?: At the current 30-year fixed rate of ~6.81%, a $460,000 home in Montana with 20% down ($92,000) carries a principal-and-interest payment of ~$2,402/mo. Add property tax (~$284/mo at 0.74%) and homeowners insurance and your total is roughly $2,685/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Montana?: The effective statewide property tax rate in Montana averages 0.74% of assessed value per year. On a $460,000 home, that works out to roughly $3,404 per year ($284/mo). Individual county rates vary.
Does Montana have a state income tax?: Yes, Montana has a state income tax. This affects your net take-home pay and therefore your effective purchasing power — use our salary calculator to estimate what's left after tax.
What are the closing costs and transfer taxes in Montana?: Montana has no real estate transfer tax.
What type of foreclosure does Montana use?: Montana uses non-judicial (trustee sale) foreclosure, which typically moves faster than court-supervised processes. Montana's Small Tract Financing Act makes most non-judicial trustee sales of residential property non-recourse — lenders can't seek a deficiency judgment.

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