Montana Mortgage Calculator
Calculate your monthly mortgage payment with Montana-specific property tax rates. Includes principal, interest, taxes, insurance, PMI, and HOA fees.
Montana Advantage
Montana has no sales tax and property tax rates average 0.79% (lower than the 0.90% national average). This calculator uses county-specific tax rates for accurate estimates.
💵 Loan Details
= $80,000 ()
📋 Monthly Payment
Estimated Monthly Payment
$2,559
Payment Breakdown
Loan Amount
$320,000
Total Interest
$446,428
📍 Montana County Property Tax Rates
| County | Tax Rate | Median Home | Annual Tax |
|---|---|---|---|
| Missoula County | 0.94% | $382,400 | $3,595 |
| Gallatin County | 0.74% | $526,700 | $3,898 |
| Yellowstone County | 0.88% | $289,300 | $2,546 |
| Cascade County | 0.95% | $227,600 | $2,162 |
| Flathead County | 0.72% | $429,600 | $3,093 |
| Lewis and Clark County | 0.95% | $304,100 | $2,889 |
| Ravalli County | 0.77% | $386,500 | $2,976 |
| Silver Bow County | 1.03% | $196,400 | $2,023 |
| Lake County | 0.69% | $328,000 | $2,263 |
| Lincoln County | 0.73% | $285,000 | $2,081 |
* Montana state average: 0.79% (lower than national average of 0.90%)
💵 Quick Payment Reference (30-Year @ 7%)
| Home Price | 20% Down | Loan Amount | P&I Payment |
|---|---|---|---|
| $250,000 | $50,000 | $200,000 | $1,331 |
| $300,000 | $60,000 | $240,000 | $1,597 |
| $400,000 | $80,000 | $320,000 | $2,129 |
| $500,000 | $100,000 | $400,000 | $2,661 |
| $600,000 | $120,000 | $480,000 | $3,194 |
* Principal & Interest only. Add property taxes (~0.79%) and insurance (~$100-150/mo) for total payment.
🏠 Understanding Your Montana Mortgage
How Monthly Payments Are Calculated
Your monthly mortgage payment consists of four main components, often called PITI: Principal (the amount you borrowed), Interest (the cost of borrowing), Taxes (property taxes), and Insurance (homeowners insurance). If your down payment is less than 20%, you'll also pay PMI (Private Mortgage Insurance).
The 28/36 Rule
Most lenders follow the 28/36 rule when determining how much you can borrow. Your housing costs (including mortgage, taxes, and insurance) shouldn't exceed 28% of your gross monthly income. Your total debt payments shouldn't exceed 36% of your gross monthly income.
Montana Property Tax Advantage
Montana homeowners benefit from property tax rates that are lower than the national average. The state average is 0.79% compared to the national average of 0.90%. Additionally, Montana has no state sales tax, which can make overall living costs more affordable.
🎯 Affordability by Income
$50K/yr → ~$200K home
$70K/yr → ~$280K home
$100K/yr → ~$400K home
$150K/yr → ~$600K home
*Based on 28% rule, 20% down, 7% rate
🌟 Montana Benefits
- No state sales tax
- Lower property taxes (0.79%)
- 2025 property tax rebate ($400)
- Homestead exemption available
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Frequently Asked Questions
To afford a $400,000 mortgage, you typically need an annual income of around $100,000-$120,000 using the 28% rule (housing costs shouldn't exceed 28% of gross income). With a 20% down payment ($80,000), 7% interest rate, and 30-year term, your monthly P&I would be about $2,129. Add property taxes and insurance, and you're looking at roughly $2,600-$2,800/month total.
With a $70,000 annual income, using the 28% rule, you can afford about $1,633/month for housing. This typically translates to a home price of $250,000-$300,000, depending on your down payment, interest rate, property taxes, and other debts. In Montana, with lower property tax rates (0.79% average), you may be able to afford slightly more than in higher-tax states.
A $400,000 loan at 7% interest for 30 years has a principal and interest payment of $2,661/month. For a 15-year term, it would be $3,595/month. These figures don't include property taxes, insurance, or PMI. In Montana, add approximately $263/month for property taxes (at 0.79% rate) and $100-150/month for homeowners insurance.
A $300,000 mortgage for 30 years at current rates (around 7%) would have a principal and interest payment of approximately $1,996/month. With Montana's average property tax rate of 0.79%, add about $198/month for taxes. Including homeowners insurance (~$100/month), your total payment would be around $2,300-$2,400/month.
Montana's average effective property tax rate is 0.79%, which is lower than the national average of 0.90%. However, rates vary by county: Missoula County is 0.94%, Gallatin County is 0.74%, Yellowstone County is 0.88%, and Cascade County is 0.95%. Montana also has no sales tax, which can offset housing costs compared to other states.
Yes, if your down payment is less than 20% of the home's purchase price, you'll typically need Private Mortgage Insurance (PMI) on a conventional loan. PMI usually costs 0.5%-1% of the loan amount annually. For example, on a $300,000 loan, PMI might be $125-$250/month. PMI can be removed once you reach 20% equity in your home.
🏠 Disclaimer: This calculator provides estimates for informational purposes only. Actual mortgage payments may vary based on your credit score, lender requirements, and other factors. Property tax rates are approximate and may change. Consult with a mortgage lender for accurate quotes.