Montana Mortgage Calculator: Estimate Your Monthly Payment

Banner image

Updated: January 18, 2024

Advertising & Editorial Disclosure

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.

Loading...

Start Here: Plug In Your Mortgage Factors

The cost of your monthly mortgage payment will depend on several key factors, which are all included in MoneyGeek’s Montana mortgage calculator. You can find descriptions of these factors below.

Loading...

Why and How to Use Our Mortgage Calculator

Loading...

coins icon
WHAT YOU CAN DO TO LOWER YOUR MONTHLY PAYMENT

MoneyGeek has outlined a few ways to keep your monthly mortgage payments at a minimum. Here are some tips that might help you make your dream home yours.

  • A less expensive house will require lower mortgage payments.
  • Save up more to make a larger down payment. This reduces your principal, interest and the time it will take you to pay off your loan.
  • Shop and compare rates from different lenders to ensure you are getting the lowest possible rates.
  • Check if you qualify for mortgage assistance programs. For most Montana home buyers, the state offers down payment assistance programs that can be used to cover the down payment and closing costs.

Next Steps: What to Do After You Have Estimated Your Mortgage Payments

Most people looking for the best mortgage deals are easily discouraged by the technical terms associated with home buying. Let MoneyGeek’s resources guide you in getting all the necessary information.

  1. Shop & Compare Rates - Find the right plan for you by comparing the various offerings of different competing lenders in Montana.
  2. Not Ready to Buy? - Take a closer look at your finances to see if it is best to buy or rent a house.
  3. Learn More - Take advantage of loan assistance programs such as FHA loans and VA home loans, as well as reverse mortgages to get lower mortgage payments.

Frequently Asked Questions About Mortgages in Montana

Loading...
sources