Mortgage rates in Montana
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Montana experienced rapid in-migration and price growth after 2020.
Mortgage rates today by loan type
These are national averages. Lenders in Montana price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your Montana mortgage payment
The calculator starts from Montana's median list price, 20% down, the state's 0.70% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the principal-and-interest schedule. To see how Montana's property tax and insurance compare with every other state, try the calculator with state tax and insurance.
Montana vs. the U.S.
Montana's median list price is 49% above the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $1,111 a month more. Five-year price growth here was the 14th-fastest of 51 jurisdictions.
| Measure | Montana | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $620,000 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $3,360 | $2,249 |
| Average home-purchase loanHMDA 2025 | $452,931 | $404,828 |
| Average closing costsincl. transfer taxes | $3,157 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.63% | 6.50% |
| Mortgage approval rateHMDA 2025 | 80.7% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +2.7% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +47.5% | +41.3% |
What Montana borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Montana home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Montana borrowers paid 0.04 percentage points above the market benchmark at lock, the 17th-highest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateMT · U.S. | Over benchmarkMT · U.S. | Closing costsMT · U.S. | Paid pointsshare of loans | Median downequity on refis · MT |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)2,609 loans | 6.63%6.50% | +0.04+0.02 | $6,177$5,476 | 61.3%53.2% | 28.6% |
| Jumbo 30-yr fixed (20%+ down)103 loans | 6.63%6.63% | +0.01+0.00 | $11,288$10,251 | 51.5%38.4% | 20% |
| FHA 30-yr fixed1,300 loans | 5.99%6.25% | +0.24+0.42 | $12,957$11,291 | 51.6%59.3% | 3.5% |
| VA 30-yr fixed1,256 loans | 6.13%6.13% | −0.42−0.36 | $6,756$6,554 | 60.7%59.3% | 0% |
| Conventional rate-and-term refinance628 loans | 6.35%6.38% | −0.06−0.06 | $5,477$4,390 | 55.1%45.4% | 34.4% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Montana and what their borrowers paid.
Montana's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Montana by 2025 purchase loans, out of 365 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in MT | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| Stockman Bank of Montana | 87710.9% | 6.50% | +0.01 | $3,424 | 29%$2,596 | 29.3% |
| Glacier Bank | 7058.7% | 6.38% | −0.09 | $3,545 | 30%$1,140 | 33% |
| United Wholesale Mortgage | 4545.6% | 6.51% | +0.04 | $4,042 | 56%$2,879 | 25.6% |
| Opportunity Bank of Montana | 4365.4% | 6.63% | +0.03 | $3,080 | 94%$3,400 | 27.6% |
| Evergreen Moneysource Mortgage Company | 4295.3% | 6.63% | +0.14 | $5,124 | 95%$4,338 | 25.1% |
| CrossCountry Mortgage | 3234% | 6.63% | +0.22 | $3,210 | 70%$2,640 | 31.4% |
| Guaranteed Rate (Rate) | 2493.1% | 6.60% | −0.01 | $1,640 | 48%$3,500 | 27.4% |
| Guild Mortgage | 2232.8% | 6.50% | −0.03 | $3,878 | 78%$3,740 | 32.2% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Montana. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Montana lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Montana
On a home at Montana's median list price of $620,000 with 20% down, the balance comes to $496,000, or about $3,360 a month in principal and interest at the 7.18% 30-year average.
What makes Montana different is the cost around the loan. Its 0.70% effective property-tax rate adds roughly $362 a month, and homeowners insurance — at the state's median 0.38% of home value — about $198 more, bringing the all-in estimate to $3,920. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the what-you-can-afford calculator.
Payment at the $620,000 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $3,920P&I $3,360 | — | $127,157 | $168,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $4,665P&I $3,780 | $326 | $65,157 | $200,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $4,893P&I $3,990 | $344 | $34,157 | $210,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $4,984P&I $4,074 | $351 | $21,757 | $214,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $4,839P&I $4,005 | $274 | $24,857 | $207,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $4,650P&I $4,091 | — | $3,157 | $199,000 |
Monthly = principal and interest + property tax (0.70% effective) + homeowners insurance (about $198/mo — Montana's median premium, 0.38% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Montana's average closing costs ($3,157). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Montana's biggest counties
Home prices, and so the loan you need, vary more inside Montana than rates do. The table covers the largest county markets. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Flathead County914 homes for sale · Sep 2026 | $878,750-5.8% | $622,7891,235 loans | $832,750$1,040,937 | Conforming$703,000 loan | $5,555at 7.18% | |
| Gallatin County768 homes for sale · Sep 2026 | $897,475+4.4% | $717,5331,457 loans | $832,750$1,040,937 | Conforming$717,980 loan | $5,674at 7.18% | |
| Yellowstone County703 homes for sale · Sep 2026 | $442,400-0.6% | $324,4052,338 loans | $832,750$1,040,937 | Conforming$353,920 loan | $2,797at 7.18% | |
| Missoula County482 homes for sale · Sep 2026 | $749,500+11.7% | $484,5761,108 loans | $832,750$1,040,937 | Conforming$599,600 loan | $4,738at 7.18% | |
| Ravalli County361 homes for sale · Sep 2026 | $758,725-10.6% | $459,569418 loans | $832,750$1,040,937 | Conforming$606,980 loan | $4,797at 7.18% | |
| Lincoln County235 homes for sale · Sep 2026 | $649,000+9.2% | $359,413213 loans | $832,750$1,040,937 | Conforming$519,200 loan | $4,103at 7.18% | |
| Lake County232 homes for sale · Sep 2026 | $869,950+13% | $473,309207 loans | $832,750$1,040,937 | Conforming$695,960 loan | $5,500at 7.18% | |
| Lewis And Clark County224 homes for sale · Sep 2026 | $567,225+3.1% | $381,159893 loans | $832,750$1,040,937 | Conforming$453,780 loan | $3,586at 7.18% | |
| Cascade County213 homes for sale · Sep 2026 | $428,750-0.2% | $347,9551,022 loans | $832,750$1,040,937 | Conforming$343,000 loan | $2,711at 7.18% | |
| Madison County205 homes for sale · Sep 2026 | $999,000+25.1% | $2,035,370162 loans | $832,750$1,040,937 | Conforming$799,200 loan | $6,316at 7.18% | |
| Silver Bow County167 homes for sale · Sep 2026 | $298,500-19.1% | $266,279430 loans | $832,750$1,040,937 | Conforming$238,800 loan | $1,887at 7.18% | |
| Carbon County138 homes for sale · Sep 2026 | $649,888-6.6% | $426,447152 loans | $832,750$1,040,937 | Conforming$519,910 loan | $4,109at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Montana's 0.70% effective property tax and its median insurance premium (0.38% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Montana
Rates are national, but the rules around the loan are not. These Montana specifics can change your payment, your closing or your protections as a borrower.
New owners must enroll for homestead tax rate
Montana's reduced homestead property tax rate is claimed through the Department of Revenue and covers only a home you occupy as your principal residence at least seven months a year. A seller's approval lasts through the end of the calendar year of sale, but the new owner must apply to keep the reduced rate.
Source: revenue.mt.govMontana trust-indenture sales bar deficiency judgments
Under Montana's Small Tract Financing statutes, when a trust indenture is foreclosed by advertisement and sale, no judgment may be entered for any deficiency against the grantor (the borrower), a guarantor or a successor in interest. After a sale of that kind, the lender generally can't sue the borrower for a shortfall.
Source: mca.legmt.govWildfire risk can mean non-renewal or surplus lines
Montana's insurance commissioner says many homeowners near wildland-urban interfaces face steep premium hikes or non-renewal notices tied to wildfire risk. The office advises confirming that wildfire damage is covered and that dwelling coverage reflects rebuilding costs, and considering surplus lines insurance if standard coverage is unavailable. Get insurance quotes early in your home search.
Source: csimt.govSellers must disclose water rights at closing
Unless the property has a public water supply, Montana's realty transfer certificate must include a disclosure in which the seller states whether any water rights are associated with the property and will transfer. The ownership update fee is paid at closing; an unpaid fee can bring a penalty against the buyer.
Source: mca.legmt.govChecked against official sources on October 20, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Montana buyers finance their homes
VA loans are where Montana stands out: they made up 11.5% of home loans originated here in 2025, against 8.2% nationally — the 12th-highest VA share of any state. Lenders, agents and appraisers here handle VA deals routinely, which helps if that is the loan you need.
| Loan type | Share in MT | U.S. share | Approval in MT | Avg loan in MT |
|---|---|---|---|---|
| Conventional | 77.5% | 78.0% | 80.7% | $390,921 |
| FHA | 10.7% | 13.2% | 78.2% | $361,526 |
| VA | 11.5% | 8.2% | 83.2% | $437,528 |
| USDA | 0.4% | 0.6% | 81.9% | $236,512 |
The average Montana home loan in 2025 was $392,556 — 11% above the U.S. average of $352,861, the 9th-largest of 51 jurisdictions. Home purchases accounted for 62.1% of those loans (U.S. 64.2%); cash-out refinances for 17.9% (U.S. 17.1%).
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Montana loan limits for 2026
All 56 of Montana's counties use the 2026 baseline conforming limit of $832,750 for a one-unit home. Any loan above that is a jumbo loan here, which usually means a larger down payment and cash reserves. See the full national grid in our conforming vs. jumbo cutoffs.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Montana
Average closing costs in Montana are about $3,157 including transfer taxes (No. 34 of 51, highest first). On a home at the median list price of $620,000:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $124,000 | $18,600 |
| Average closing costs | $3,157 | $3,157 |
| Cash to close (estimate) | $127,157 | $21,757 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Montana
Montana's constitution (Article VIII, Section 17, from voter Initiative 105 in 2010) forbids the state and local governments from imposing any tax on the sale or transfer of real property. Source: archive.legmt.gov
Getting approved in Montana
Federal HMDA lending records show Montana lenders originated 23,001 home loans in 2025 and denied 5,498 applications — an approval rate near 80.7% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our approval-rate rankings, and how Montana ranks for mortgage complaint analysis (742 on record).
Shopping for a loan? See the most active mortgage lenders in Montana, ranked by federal HMDA volume.
Down-payment help in Montana
You rarely need 20% down. These are the main programs from Montana Housing, Montana's housing finance agency; they are offered through participating lenders, usually alongside the agency's own first mortgage.
Bond Advantage DPA
Up to 5% of the price, capped at $15,000, as a 15-year second loan at the same fixed rate as the Montana Board of Housing 30-year first mortgage. Requires a 620 credit score, homebuyer education and at least $1,000 of your own cash (which can be a gift).
Source: housing.mt.govChecked against official sources on October 9, 2026. Assistance amounts, income limits and funding change during the year — confirm current terms with Montana Housing or a participating lender.
Montana MCC: 20% of your mortgage interest back as a tax credit
A 20% credit, not to exceed $2,000, available with any loan statewide except another MBOH program loan; apply through a participating lender after signing the purchase contract and before closing. Fee: $750. How much an MCC saves you each year.
Check current terms at Montana Housing, see how a smaller down payment changes your number with the down-payment need calculator, or compare all state assistance programs.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Montana vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Montana reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our standards team. Full sources and formulas: methodology notes.
Montana mortgage FAQ
What is a good mortgage rate in Montana right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Montana's conventional buyers paid a median 6.63%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Montana than in other states?
Slightly. In 2025 HMDA records, Montana's median conventional 30-year rate was 6.63%, against 6.50% nationally. Against the benchmark for each loan's lock week, which counts points and fees, Montana loans priced 0.04 percentage points above it (the 17th-highest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Montana?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Montana's jumbo buyers paid a median 6.63%. A loan is jumbo above the $832,750 conforming limit, which applies in every Montana county.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $496,000 loan (20% down on Montana's median list price), a 30-year at 7.18% costs $3,360 a month and a 15-year at 6.57% costs $4,340.
The 15-year saves about $428,463 in interest but needs $980 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $496,000 loan (20% down on Montana's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $3,360 to $3,702, or $342 a month.
Over 30 years that is about $123,057 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Montana's conventional rate-and-term refinances closed at a median 6.35% and purchases at 6.63%, partly because refinances bunch up when rates dip. Refinances priced 0.06 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In Montana, a $500,000 home with that loan adds roughly $292 a month in property tax at the 0.70% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in Montana?
About $168,000 a year for a home at the $620,000 median list price with 20% down, if the full $3,920 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
What down payment assistance is available in Montana?
Montana Housing, the state housing finance agency, runs Bond Advantage DPA, offered through participating lenders. Help usually comes as a grant or a deferred or forgivable second loan paired with the agency's first mortgage.
Amounts, income limits and funding change during the year, so confirm current terms with Montana Housing or a participating lender before you apply.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.