Montana mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Montana. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Montana housing market

Montana, the Treasure State, is one of the more expensive states for home affordabi...lity, with the median homeowner spending almost 21% of their income on their home. In 2018, home value jumped by a blistering 10%, however, it's expected to remain roughly flat in 2019. Looking to move to the frontier? Montana may be the right state for you as 46/50 of its counties are considered "frontier counties" with an average population of 6 or fewer per people per square mile.

Your monthly payment
$1,599
30 year fixed loan term
Monthly payment
Principal & interest

$1,163

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,152$1,591
Mortgage Rate4.125%3.5%*4.07%*
Total interest paid
$178,737
$68,829
$175,981
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,152$1,591
Mortgage Rate4.125%3.5%*4.07%*
Total interest paid
$178,737
$68,829
$175,981
Amortization

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Remaining
$240,000
Principal Paid
$0
Interest Paid
$0
Year 0
drag me
1
30
Years

Insights

We’ll share an interesting insight here for key milestones in your payoff schedule.

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See latest mortgage rates
Get personalized mortgage rates from San Francisco, CA.
Principal & interest

$1,163

Montana mortgage and refinance rates today (APR)

Loan typeAverage
rate
Change
1 day
Change
1 year
30-year fixed4.302%
0.0%
0.418%
15-year fixed3.676%
0.0%
0.554%
5/1 ARM3.927%
0.0%
0.863%

Today’s rate

4.302%
30-year fixed

Current rates in Montana are 4.302% for a 30-year fixed, 3.676% for a 15-year fixed, and 3.927% for a 5/1 adjustable-rate mortgage (ARM).

Find top real estate agents in Montana

Start building your winning home buying team! Our partner, HomeLight, analyzes millions of home sales to identify the best performing agent.

First-time home buyer programs in Montana

There are several national first-time home buyer programs that may be able to help you get into a home in Montana.

Conventional mortgage

National program

What you need to know

Best for home buyers with good credit looking for low down payments or limited mortgage insurance premiums. A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie...

See full article

Average property tax in Montana counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Montana. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Beaverhead County0.7%$192,600
Big Horn County0.45%$100,000
Blaine County0.77%$85,800
Broadwater County0.59%$195,000
Carbon County0.52%$227,400
Carter County0.29%$97,900
Cascade County0.88%$174,300
Chouteau County0.84%$123,000
Custer County0.92%$157,000
Daniels County1.03%$123,500
Dawson County0.88%$154,300
Deer Lodge County1.02%$116,700
Fallon County0.54%$154,200
Fergus County0.82%$133,700
Flathead County0.74%$270,500
Gallatin County0.72%$344,600
Garfield County0.51%$116,300
Glacier County0.43%$105,000
Golden Valley County0.21%$98,300
Granite County0.62%$218,900
Hill County0.94%$128,000
Jefferson County0.64%$264,000
Judith Basin County0.48%$138,500
Lake County0.58%$224,100
Lewis and Clark County0.9%$244,200
Liberty County1.08%$108,000
Lincoln County0.64%$175,500
Madison County0.47%$252,200
McCone County0.67%$111,900
Meagher County0.57%$136,300
Mineral County0.76%$159,800
Missoula County0.93%$295,600
Musselshell County0.5%$161,400
Park County0.55%$235,600
Petroleum County0.59%$112,000
Phillips County0.78%$117,800
Pondera County0.73%$122,100
Powder River County0.6%$110,900
Powell County0.66%$141,000
Prairie County0.36%$100,700
Ravalli County0.62%$246,600
Richland County0.64%$213,000
Roosevelt County0.65%$116,400
Rosebud County0.6%$118,600
Sanders County0.51%$205,000
Sheridan County0.76%$146,500
Silver Bow County1.01%$133,800
Stillwater County0.61%$225,200
Sweet Grass County0.39%$225,900
Teton County0.8%$156,600
Toole County0.97%$125,200
Treasure County0.5%$105,500
Valley County0.93%$135,600
Wheatland County0.66%$89,300
Wibaux County0.68%$110,100
Yellowstone County0.87%$225,500

Source: American Communities Survey 2016, U.S. Census

How we got here
Monthly payment: What’s behind the numbers used in our mortgage calculator?
How to calculate your mortgage payment
How to use a mortgage payment calculator
Monthly payment: What’s behind the numbers used in our mortgage calculator?

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator stuffed in your grandpa’s shirt pocket. But an excellent mortgage payment calculator can do more. That’s why the NerdWallet monthly mortgage payment calculator also takes into account the additional costs — like taxes and insurance — that are included in your monthly payment. It’s called a PITI mortgage calculator, for principal, interest, taxes and insurance. We can also include HOA dues and PMI — private mortgage insurance — in your monthly payment calculation.

A lot of folks forget to include all those costs and are frankly a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula working behind the curtain of the NerdWallet mortgage calculator takes that bit of uncertainty out of the picture.

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator s...

See all
How to calculate your mortgage payment

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each m...
See all
How to use a mortgage payment calculator

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you’ll pay, but your monthly payment will be higher. Regardless of which term you choose, fixed-rate mortgages have interest rates that are locked in for the life of the loan.
  • Is an ARM a good option? Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years or so. You’ll want to be aware of how much your monthly mortgage payment can change, especially if interest rates are trending higher.
  • If you’re buying too much home. The NerdWallet mortgage payment calculator can help you take a reality check on just how much home you can afford, especially when considering your all-in costs, including taxes, insurance and PMI.
  • Are you putting enough money down? With minimum down payments commonly as low as 3% these days, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment for you may be.

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How ...
See all

Mortgage monthly payment 101

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But that’s rarely the case these days. There are a lot of costs that can be built into a monthly mortgage payment. Here are the five key components in play when you calculate mortgage payments:

  • Principal: Typically, this would be the home’s purchase price, less any down payment It’s the amount you borrow. If you’re buying a $500,000 home and put down $100,000, the principal would be $400,000.
  • Interest: What the lender charges you to loan you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.
  • Homeowners association (HOA) fee: This is paid by homeowners to an organization that assists with upkeep, property improvements and shared amenities.