On average, mortgage payments in Montana cost $24 less than the national average. Lenders often compute mortgage payments by evaluating several key factors such as the state’s property tax, your home’s purchase price and your household income. For instance, a Montana homebuyer is expected to pay $1,135 on their monthly mortgage. With the average household income at $5,913, mortgage payments already account for about 19% of this total.
Use MoneyGeek’s research-backed Montana mortgage calculator to get an overall picture of how much your mortgage payment will cost, and compare the offerings of multiple lenders. This comprehensive guide will instruct you on how to use the calculator and provide you with strategies to keep your payments low.