Mortgage rates in Montana
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
Montana experienced rapid in-migration and price growth after 2020. Below is what buying at Montana's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in Montana
The interest rate on a Montana mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On Montana's median $649,950 home with 20% down, the balance comes to $519,960, or about $3,283 a month in principal and interest.
What makes Montana different is the cost around the loan. Its 0.74% effective property-tax rate adds roughly $401 a month, and homeowners insurance about $244 more — bringing the all-in estimate to $3,928. Those local costs, not the interest rate, are what set Montana apart. Your own price and down payment will move the number — work backward from your income with the what-you-can-afford calculator.
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 (717 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. Montana Housing — Montana's housing finance agency — runs the state's main assistance program: The Bond Advantage program provides down-payment assistance loans. Eligibility usually turns on income limits and a homebuyer-education course. 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.
Montana mortgage FAQ
What is the current mortgage rate in Montana?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your Montana loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: Montana's ~0.74% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical Montana home?
On Montana's median home price of about $649,950 with 20% down at today's 6.49% average 30-year rate, expect roughly $3,928/month — that's $3,283 principal and interest plus about $401 property tax and $244 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in Montana?
In 2025, Montana lenders originated 23,001 home loans and denied 5,498 applications — an approval rate of about 80.7% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
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.