Estimate your monthly mortgage payment in Montana — principal & interest plus Montana property tax and homeowner’s insurance.
Buying a home in Montana: what to know
Montana’s typical home value of $471,746 (Zillow ZHVI, August 2026) reflects demand spilling into Bozeman, Missoula, and Kalispell, putting it well above the national figure. The effective property tax rate of 0.61% is moderate by national standards. Insurance averages about $1,639 a year (NAIC 2022), lifted by hail and wildfire exposure. Montana Housing (Montana Board of Housing) offers the low-rate Regular Bond Program mortgage, Bond Advantage down payment assistance of up to 5% of the price (max $15,000), and the MBOH Plus 0% deferred second loan.
Montana mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750Montana uses the standard 2026 baseline of $832,750 for a one-unit home in every county; no high-cost counties. |
| Median home price | $471,746 |
| Median effective property tax rate | 0.61% |
| Average homeowner’s insurance | $1,639/year |
Data as of October 2026. Sources: FHFA 2026 conforming limits (Nov 2025 announcement); Zillow ZHVI Aug 2026 (via Southwest Montana Times county series); Tax Foundation Property Taxes by State and County 2026 (2024 ACS); NAIC 2022 HO-3 premiums via Insurance Information Institute (May 2025); Montana Board of Housing program and rate materials.; rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Montana first-time buyer programs
- Montana Housing Regular Bond Program — Low-interest 30-year fixed-rate first mortgage for first-time buyers (or buyers in federally designated targeted areas), funded through mortgage revenue bonds. Can be paired with Bond Advantage or MBOH Plus down payment assistance; 620 minimum credit. Official site
- MBOH Bond Advantage Down Payment Assistance — Second mortgage of up to 5% of the sales price (max $15,000) for down payment and closing costs, repaid over 15 years alongside the first mortgage at the same fixed rate. Requires a $1,000 borrower contribution and homebuyer education. Official site
How to use this calculator
The calculator is pre-filled with Montana’s $471,746 typical home value, the 0.61% effective property tax rate, and $1,639 per year for homeowner’s insurance. Montana’s 2026 conforming limit is $832,750 in every county, so the calculator flags loans above that as jumbo. In Bozeman, Kalispell, and resort-adjacent markets, test prices above the state median, and if the home sits in a wildfire zone, adjust the insurance field upward since the pre-filled average may understate the real premium.
Worked example: a median Montana home
Take a median-priced Montana home at $471,746. With 20% down ($94,349.20), the loan amount is $377,396.80. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $2,613.02/month. Add property tax of about $239.80/month (0.61% of $471,746, divided by 12) and insurance of about $136.58/month ($1,639 a year), for a total estimated payment of $2,989.41/month. Over 30 years, total interest would be about $563,290.12. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the 2026 conforming loan limit in Montana?
The 2026 conforming loan limit for a one-unit home in Montana is $832,750 in every county. Montana has no designated high-cost counties.
How much are property taxes in Montana?
Montana’s median effective property tax rate is about 0.61% (Tax Foundation 2026), roughly $2,878 a year on the $471,746 typical home. Montana taxes property on market value using class rates, and reappraisal cycles can shift bills, so verify the current assessment.
What first-time homebuyer programs does Montana offer?
Montana Housing’s Regular Bond Program offers a low fixed-rate first mortgage, Bond Advantage adds up to 5% ($15,000 max) as a 15-year second loan, and MBOH Plus offers the same amount as a 0% deferred loan with no monthly payments. A dedicated Veterans Home Loan program offers reduced rates with no income or purchase-price caps.
How much does homeowner’s insurance cost in Montana?
The average HO-3 premium was about $1,639 a year in 2022 (NAIC via III), above the national average. Hail is the main statewide peril, and wildfire exposure in forested areas can raise premiums; roof class and defensible space affect quotes.
Why are Bozeman and Kalispell so much pricier than the state median?
Resort and remote-worker demand has pushed Gallatin and Flathead county markets far above the $471,746 statewide figure, with some resort-adjacent homes at multiples of the median. Montana has no state sales tax, which helps overall affordability but does not offset the price gap in hot markets.