HELOC rates in Montana have risen from 4.5% in 2020 to 8.6% in 2024. If this trend persists, homeowners may encounter higher costs, making it wise to consider locking in a rate now.
Best HELOC Rates in Montana
As of October 16, 2024, the best HELOC rate in Montana is 5.5% from Community 1st Federal Credit Union in Ekalaka, well below the state average of 8.5% and the national average of 8.7%.
Updated: November 2, 2024
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Key Takeaways
Higher loan-to-value (LTV) ratios lead to higher rates. The average APR for a HELOC in Montana with an 80% LTV is 8.5%, compared with 8.6% for a 90% LTV.
HELOC rates vary by city in Montana. Ekalaka has an average APR of 5.5%, whereas Lakeside's is 10.3%.
Different lenders offer varying rates for the same loan types. Community 1st Federal Credit Union's average APR is 5.5%, whereas First Interstate Bank's is 10.3%.
Current HELOC Rates in Montana
HELOC Rates in Montana by LTV Ratio
HELOC rates in Montana vary depending on your loan-to-value (LTV) ratio and line limit. A lower LTV ratio means more equity in your home, making lenders view you as less risky. For instance, an 80% LTV is less risky than a 90% LTV, reducing the chances of default on your HELOC.
The following table lets you filter between different loan amounts, offering a clearer view of what you may qualify for:
- $100,000
- $50,000
HELOC Rates in Montana by City
HELOC rates in Montana vary by city due to differences in local housing markets and lender competition. For instance, cities with robust real estate markets might see lower rates.
Use the table below to filter by your city and see average APRs for $50k and $100k HELOCs.
- Absarokee
- Alachua
- Altamonte Springs
- Amelia Island
- Apalachicola
- Apollo Beach
- Apopka
- Arcadia
- Atlantic Beach
- Atlantis
- Auburndale
- Aventura
- Avon Park
- Babcock Ranch
- Baker
- Bal Harbour
- Baldwin
- Barefoot Bay
- Bartow
- Bay Harbor Islands
- Bay Lake
- Bayonet Point
- Belgrade
- Belle Glade
- Belleair Bluffs
- Belleview
- Beverly Hills
- Big Pine Key
- Bigfork
- Billings
- Blountstown
- Boca Raton
- Bonifay
- Bonita Springs
- Boynton Beach
- Bozeman
- Bradenton
- Brandon
- Bridger
- Bronson
- Brooksville
- Bushnell
- Butte
- Callahan
- Callaway
- Cape Canaveral
- Cape Coral
- Casselberry
- Cedar Key
- Celebration
- Century
- Champions Gate
- Chattahoochee
- Chester
- Chiefland
- Chinook
- Chipley
- City of Westlake
- Clearwater
- Clermont
- Clewiston
- Cocoa
- Cocoa Beach
- Coconut Creek
- Coconut Grove
- Columbia Falls
- Columbus
- Conrad
- Cooper City
- Coral Gables
- Coral Springs
- Crawfordville
- Crescent City
- Crestview
- Cross City
- Crystal River
- Culbertson
- Cut Bank
- Cutler Bay
- Dade City
- Dania
- Davenport
- Davie
- Daytona Beach
- DeFuniak Springs
- DeLand
- Deerfield Beach
- Delray Beach
- Deltona
- Destin
- Doral
- Dunedin
- Dunnellon
- Edgewater
- Eglin AFB
- Ekalaka
- Ellenton
- Englewood
- Ennis
- Estero
- Eureka
- Eustis
- Fairfield
- Fairview
- Fellsmere
- Fern Park
- Fernandina Beach
- Fleming Island
- Florida City
- Forest City
- Fort Lauderdale
- Fort Myers
- Fort Pierce
- Fort Walton Beach
- Freeport
- Fruit Cove
- Fruitland Park
- Gainesville
- Glasgow
- Great Falls
- Green Cove Springs
- Greenacres
- Greenwood
- Groveland
- Gulf Breeze
- Gulfport
- Haines City
- Hallandale Beach
- Hamilton
- Harlem
- Harlowton
- Haverhill
- Havre
- Hawthorne
- Heathrow
- Helena
- Hernando
- Hialeah
- Hialeah Gardens
- Holiday
- Hollywood
- Holmes Beach
- Homestead
- Homosassa Springs
- Hudson
- Hurlburt Field
- Immokalee
- Indialantic
- Indian Harbour Beach
- Indian Shores
- Interlachen
- Inverness
- Islamorada
- Jacksonville
- Jacksonville Beach
- Jensen Beach
- Joliet
- Jonesville
- Juno Beach
- Jupiter
- Kalispell
- Kennedy Space Center
- Key Biscayne
- Key Largo
- Key West
- Keystone Heights
- Kissimmee
- Labelle
- Lady Lake
- Lake Buena Vista
- Lake City
- Lake Mary
- Lake Placid
- Lake Wales
- Lake Worth
- Lakeland
- Lakeside
- Lakewood Ranch
- Land O' Lakes
- Lantana
- Largo
- Lauderdale Lakes
- Lauderdale-by-the-Sea
- Lauderhill
- Laurel
- Leesburg
- Lehigh Acres
- Lewistown
- Lighthouse Point
- Lithia
- Live Oak
- Longboat Key
- Longwood
- Loxahatchee
- Lutz
- Lynn Haven
- MacClenny
- Maitland
- Malta
- Marathon
- Marco Island
- Margate
- Marianna
- Mary Esther
- Mayport
- Melbourne
- Merritt Island
- Miami
- Miami Beach
- Miami Gardens
- Miami Lakes
- Miami Shores
- Miami Springs
- Middleburg
- Middleton
- Miles City
- Milton
- Mims
- Miramar
- Miramar Beach
- Missoula
- Monticello
- Mount Dora
- Mulberry
- Naples
- Navarre
- Neptune Beach
- New Port Richey
- New Smyrna Beach
- Newberry
- Niceville
- Nokomis
- North Fort Myers
- North Miami
- North Miami Beach
- North Palm Beach
- North Port
- Oakland Park
- Ocala
- Ocoee
- Odessa
- Okeechobee
- Old Town
- Oldsmar
- Orange City
- Orange Park
- Orlando
- Ormond Beach
- Oviedo
- Pace
- Pahokee
- Palatka
- Palm Bay
- Palm Beach
- Palm Beach Gardens
- Palm City
- Palm Coast
- Palm Harbor
- Palm Springs
- Palmetto
- Palmetto Bay
- Panama City
- Panama City Beach
- Parker
- Parrish
- Patrick AFB
- Pembroke Park
- Pembroke Pines
- Pensacola
- Perry
- Pinecrest
- Pinellas Park
- Plant City
- Plantation
- Plentywood
- Polson
- Pompano Beach
- Ponte Vedra
- Ponte Vedra Beach
- Port Charlotte
- Port Orange
- Port Richey
- Port Saint Joe
- Port Saint John
- Port Saint Lucie
- Punta Gorda
- Quincy
- Raiford
- Red Lodge
- Riverview
- Riviera Beach
- Rockledge
- Rosemary Beach
- Roundup
- Royal Palm Beach
- Ruskin
- Safety Harbor
- Saint Augustine
- Saint Cloud
- Saint James City
- Saint Johns
- Saint Petersburg
- Sanford
- Santa Rosa Beach
- Sarasota
- Satellite Beach
- Sebastian
- Sebring
- Seffner
- Seminole
- Shalimar
- Shelby
- Silver Springs
- Sneads
- South Daytona
- South Miami
- South Pasadena
- Southport
- Spring Hill
- Starke
- Steinhatchee
- Stevensville
- Stuart
- Summerfield
- Sun City Center
- Sunburst
- Sunny Isles Beach
- Sunrise
- Tallahassee
- Tamarac
- Tampa
- Tarpon Springs
- Tavernier
- Temple Terrace
- Tequesta
- The Villages
- Thompson Falls
- Tierra Verde
- Titusville
- Treasure Island
- Trenton
- Trinity
- Tyndall AFB
- University Park
- Valrico
- Venice
- Vero Beach
- Viera
- Virginia Gardens
- Wauchula
- Wellington
- Wesley Chapel
- West Melbourne
- West Miami
- West Palm Beach
- Weston
- White Sulphur Springs
- Wildwood
- Williston
- Wilton Manors
- Wimauma
- Windermere
- Winter Garden
- Winter Haven
- Winter Park
- Winter Springs
- Wolf Point
- Yulee
- Zephyrhills
HELOC Rates in Montana by Lender
HELOC interest rates in Montana vary among lenders based on pricing strategies and risk assessments. Comparing rates can help you find the best deal. The table below highlights the five lenders in Montana offering the lowest average APRs, aiding your decision-making process.
Community 1st Federal Credit Union | 5.5% |
Bank of the Rockies | 7.5% |
Altana Federal Credit Union | 7.8% |
Billings Federal Credit Union | 8.3% |
Grasslands Federal Credit Union | 8.3% |
HELOC rates today can differ significantly among lenders in the same city. Use the table below to filter by city and compare APRs, helping you find the most competitive rate in your area.
- Absarokee
- Alachua
- Altamonte Springs
- Amelia Island
- Apalachicola
- Apollo Beach
- Apopka
- Arcadia
- Atlantic Beach
- Atlantis
- Auburndale
- Aventura
- Avon Park
- Babcock Ranch
- Baker
- Bal Harbour
- Baldwin
- Barefoot Bay
- Bartow
- Bay Harbor Islands
- Bay Lake
- Bayonet Point
- Belgrade
- Belle Glade
- Belleair Bluffs
- Belleview
- Beverly Hills
- Big Pine Key
- Bigfork
- Billings
- Blountstown
- Boca Raton
- Bonifay
- Bonita Springs
- Boynton Beach
- Bozeman
- Bradenton
- Brandon
- Bridger
- Bronson
- Brooksville
- Bushnell
- Butte
- Callahan
- Callaway
- Cape Canaveral
- Cape Coral
- Casselberry
- Cedar Key
- Celebration
- Century
- Champions Gate
- Chattahoochee
- Chester
- Chiefland
- Chinook
- Chipley
- City of Westlake
- Clearwater
- Clermont
- Clewiston
- Cocoa
- Cocoa Beach
- Coconut Creek
- Coconut Grove
- Columbia Falls
- Columbus
- Conrad
- Cooper City
- Coral Gables
- Coral Springs
- Crawfordville
- Crescent City
- Crestview
- Cross City
- Crystal River
- Culbertson
- Cut Bank
- Cutler Bay
- Dade City
- Dania
- Davenport
- Davie
- Daytona Beach
- DeFuniak Springs
- DeLand
- Deerfield Beach
- Delray Beach
- Deltona
- Destin
- Doral
- Dunedin
- Dunnellon
- Edgewater
- Eglin AFB
- Ekalaka
- Ellenton
- Englewood
- Ennis
- Estero
- Eureka
- Eustis
- Fairfield
- Fairview
- Fellsmere
- Fern Park
- Fernandina Beach
- Fleming Island
- Florida City
- Forest City
- Fort Lauderdale
- Fort Myers
- Fort Pierce
- Fort Walton Beach
- Freeport
- Fruit Cove
- Fruitland Park
- Gainesville
- Glasgow
- Great Falls
- Green Cove Springs
- Greenacres
- Greenwood
- Groveland
- Gulf Breeze
- Gulfport
- Haines City
- Hallandale Beach
- Hamilton
- Harlem
- Harlowton
- Haverhill
- Havre
- Hawthorne
- Heathrow
- Helena
- Hernando
- Hialeah
- Hialeah Gardens
- Holiday
- Hollywood
- Holmes Beach
- Homestead
- Homosassa Springs
- Hudson
- Hurlburt Field
- Immokalee
- Indialantic
- Indian Harbour Beach
- Indian Shores
- Interlachen
- Inverness
- Islamorada
- Jacksonville
- Jacksonville Beach
- Jensen Beach
- Joliet
- Jonesville
- Juno Beach
- Jupiter
- Kalispell
- Kennedy Space Center
- Key Biscayne
- Key Largo
- Key West
- Keystone Heights
- Kissimmee
- Labelle
- Lady Lake
- Lake Buena Vista
- Lake City
- Lake Mary
- Lake Placid
- Lake Wales
- Lake Worth
- Lakeland
- Lakeside
- Lakewood Ranch
- Land O' Lakes
- Lantana
- Largo
- Lauderdale Lakes
- Lauderdale-by-the-Sea
- Lauderhill
- Laurel
- Leesburg
- Lehigh Acres
- Lewistown
- Lighthouse Point
- Lithia
- Live Oak
- Longboat Key
- Longwood
- Loxahatchee
- Lutz
- Lynn Haven
- MacClenny
- Maitland
- Malta
- Marathon
- Marco Island
- Margate
- Marianna
- Mary Esther
- Mayport
- Melbourne
- Merritt Island
- Miami
- Miami Beach
- Miami Gardens
- Miami Lakes
- Miami Shores
- Miami Springs
- Middleburg
- Middleton
- Miles City
- Milton
- Mims
- Miramar
- Miramar Beach
- Missoula
- Monticello
- Mount Dora
- Mulberry
- Naples
- Navarre
- Neptune Beach
- New Port Richey
- New Smyrna Beach
- Newberry
- Niceville
- Nokomis
- North Fort Myers
- North Miami
- North Miami Beach
- North Palm Beach
- North Port
- Oakland Park
- Ocala
- Ocoee
- Odessa
- Okeechobee
- Old Town
- Oldsmar
- Orange City
- Orange Park
- Orlando
- Ormond Beach
- Oviedo
- Pace
- Pahokee
- Palatka
- Palm Bay
- Palm Beach
- Palm Beach Gardens
- Palm City
- Palm Coast
- Palm Harbor
- Palm Springs
- Palmetto
- Palmetto Bay
- Panama City
- Panama City Beach
- Parker
- Parrish
- Patrick AFB
- Pembroke Park
- Pembroke Pines
- Pensacola
- Perry
- Pinecrest
- Pinellas Park
- Plant City
- Plantation
- Plentywood
- Polson
- Pompano Beach
- Ponte Vedra
- Ponte Vedra Beach
- Port Charlotte
- Port Orange
- Port Richey
- Port Saint Joe
- Port Saint John
- Port Saint Lucie
- Punta Gorda
- Quincy
- Raiford
- Red Lodge
- Riverview
- Riviera Beach
- Rockledge
- Rosemary Beach
- Roundup
- Royal Palm Beach
- Ruskin
- Safety Harbor
- Saint Augustine
- Saint Cloud
- Saint James City
- Saint Johns
- Saint Petersburg
- Sanford
- Santa Rosa Beach
- Sarasota
- Satellite Beach
- Sebastian
- Sebring
- Seffner
- Seminole
- Shalimar
- Shelby
- Silver Springs
- Sneads
- South Daytona
- South Miami
- South Pasadena
- Southport
- Spring Hill
- Starke
- Steinhatchee
- Stevensville
- Stuart
- Summerfield
- Sun City Center
- Sunburst
- Sunny Isles Beach
- Sunrise
- Tallahassee
- Tamarac
- Tampa
- Tarpon Springs
- Tavernier
- Temple Terrace
- Tequesta
- The Villages
- Thompson Falls
- Tierra Verde
- Titusville
- Treasure Island
- Trenton
- Trinity
- Tyndall AFB
- University Park
- Valrico
- Venice
- Vero Beach
- Viera
- Virginia Gardens
- Wauchula
- Wellington
- Wesley Chapel
- West Melbourne
- West Miami
- West Palm Beach
- Weston
- White Sulphur Springs
- Wildwood
- Williston
- Wilton Manors
- Wimauma
- Windermere
- Winter Garden
- Winter Haven
- Winter Park
- Winter Springs
- Wolf Point
- Yulee
- Zephyrhills
HELOC rates in Montana vary between banks and credit unions due to their different operational models. Commercial banks typically have higher rates, with the best HELOC rate in Montana at 8.7%. In contrast, credit unions offer slightly lower rates, averaging 8.5%, as they are not-for-profit institutions.
When choosing between the two, consider more than just rates. Banks might offer more convenience, whereas credit unions often provide better customer service and lower fees. It's important to check membership requirements for credit unions and any hidden fees or rate adjustment clauses with both lenders.
What are the common fees or costs associated with HELOCs that borrowers should be aware of, and how do these affect the overall cost of borrowing?
Ramsey Coulter has worked in the mortgage and credit industry for over 10 years. Currently a mortgage loan originator with CMG Home Loans, he specializes in helping first-time homebuyers navigate...
Most banks and credit unions charge little to no fees when getting a HELOC. Typically, you will pay the cost of the appraisal — anywhere from $150 to $450 depending on the type of appraisal done. But closing costs are usually covered by the bank or credit union. This is why it’s best to shop around with at least three different lenders when applying for a HELOC to compare not only the rates but also any costs involved. Getting a rate that is 0.25% lower but having to pay a couple thousand dollars in costs may not make financial sense.
HELOC Payment Calculator
HELOCs have become a popular tool for homeowners across the U.S. looking to tap into their home's equity. Use our Montana HELOC payment calculator to determine your monthly payments based on amount draws, loan terms, and APR.
It also provides an amortization schedule, detailing the division of payments between principal and interest over time. Understanding these aspects can help you manage your HELOC more effectively and plan your finances.
Montana HELOC Payoff Calculator
This HELOC payment calculator assumes that you take out one lump sum at the start of your interest-only period. Your actual payoff schedule will vary depending on your interest rate and market conditions.
Credit Line Information
Draw Period Payment
$0
Repayment Period Payment
$0
- Graph view
- Table view
- Amortization
Credit Payoff Schedule for Home Equity Line
YEAR
How to Get the Best HELOC Rates in Montana
Finding the best HELOC rates in Montana can save you thousands over the loan's duration. For example, securing a rate that's 1% lower could reduce your monthly payment significantly. Consider these five strategies to find the most competitive rates:
Maintain a strong credit score
The average credit score in Montana is 732. Improving it can help you secure better rates from lenders.
Compare offers from multiple lenders
Shopping around can help you find competitive rates and use offers to negotiate better terms.
Reduce your debt-to-income (DTI) ratio
Lower debt-to-income (DTI) ratios show financial stability. Pay off credit card debt to improve your ratio.
Increase your home equity
More equity means less risk for lenders. Consider paying down your mortgage or making home improvements.
Review closing costs and rate caps
Closing costs can affect expenses. Knowing rate caps helps manage HELOC adjustments.
HELOC Loan Rates vs. Home Equity Loan Rates in Montana
HELOC interest rates in Montana average 8.5%, higher than the 7.7% for home equity loans. This difference stems from HELOCs having variable rates, which can rise over time.
- HELOCs offer a revolving credit line with variable rates that adjust with market conditions. In rising interest rate environments, this can lead to higher costs, impacting homeowners' long-term finances.
- By contrast, home equity loans provide a lump sum with a fixed rate, ensuring consistent payments. They are preferable for those who prioritize financial certainty.
When deciding between these options, consider your financial goals and stability. Evaluate whether you need the flexibility of a HELOC or the predictability of a home equity loan, and assess how changes in interest rates might affect your budget. Both allow you to borrow against your home's equity, so choose based on your financial needs and risk tolerance.
Cash-out refinance is an HELOC alternative, replacing your existing primary mortgage with a larger loan for cash access. Unlike HELOCs or home equity loans, it creates a new primary mortgage.
For example, with a Federal Housing Administration (FHA) mortgage valued at $300,000 and a $150,000 balance, an FHA cash-out refinance for $200,000 provides $50,000 cash, with payments based on $200,000.
FAQ: Best HELOC Rates in Montana
Montana's HELOC rates are currently averaging 8.5%, which is slightly lower than the national average of 8.7%.
Common fees include application fees, appraisal fees, annual fees, and early closure fees. Specifics may vary by lender.
HELOC rates in Montana average 8.5%, while home equity loan rates are lower at around 7.7%, making them a better option for those with bad credit.
Commercial banks in Montana offer HELOC rates averaging 8.7%, while credit unions offer lower rates at 8.5%.
The average HELOC rate in Montana is 8.5%, while Billings's rates are slightly higher, averaging 8.8%.
MoneyGeek examined 26 different banks and credit unions in Montana using S&P Global's SNL Depository Rates dataset to stay current on the latest home equity line of credit rates.
This data is accurate as of October 16, 2024.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.