How much mortgage can I afford in Montana?

You must first determine how much you could comfortably set aside for payments. Most lenders prefer a debt-to-income (DTI) ratio of 43%.

What is the average mortgage in Montana?

The average outstanding mortgage amount in Montana is $180,711.

Do I have enough cash for a down payment for a mortgage in Montana?

Current down payment rates are at 2%-3.75%. Fortunately for Montana home buyers, the state offers several down payment assistance programs that can cover the down payment and closing costs.

Do you really need private mortgage insurance in Montana?

If you cannot pay a down payment of 20% upfront, you will almost always be required to take private mortgage insurance (PMI).

What are the average annual property taxes in Montana?

The average annual property tax in Montana costs $1,818. This places the state at the top 20 nationally in terms of affordability.

What is the average monthly mortgage payment in Montana?

The average monthly mortgage payment in Montana is $1,135, which is $24 less than the national average.

What is the median home price in Montana?

The median home price in Montana is $242,100.

Montana Mortgage Calculator: Estimate Your Monthly Payment

The average home in Montana costs $242,100. Few people can pay this price upfront and in full. If you are looking to buy a home in the state of Montana, consider looking at financing options, such as a mortgage.

Mortgage lenders look at several factors to compute the monthly mortgage payment that you will be required to pay. To help you determine your mortgage costs, use MoneyGeek’s Montana mortgage calculator.

Montana Mortgage Calculator: Estimate Your Monthly Payment

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