Finder may earn compensation from partners, but editorial opinions are our own. Advertiser Disclosure

Mortgage rates in Montana

Interest rates on a 30-year $300,000 conventional mortgage start at around 3.125%

If you have a credit score between 700 and 719 and can put 5% down, you’ll generally pay about 3.250% for a 30-year conventional loan with a fixed interest rate on a $350,000 home. But how much interest you pay for your Montana home will depend on several factors, including your credit score, loan amount and lender.

Rates were last checked on October 6 and are from the Consumer Financial Protection Bureau (CFPB) website.

Your credit score affects the rate you’ll get

People with higher credit scores generally get lower interest rates because lenders assume they’re less likely to stop paying a mortgage. Here are the most common interest rates in Montana by mortgage amount, according to the Consumer Financial Protection Bureau (CFPB).

Credit score $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
620-639 4.000% 4.000% 3.875% 3.875%
640-659 3.750% 3.750% 3.625% 3.625%
660-679 3.625% 3.625% 3.500% 3.500%
680-699 3.375% 3.375% 3.250% 3.250%
700-719 3.250% 3.250% 3.250% 3.250%
720-739 3.250% 3.125% 3.125% 3.125%
740-759 3.125% 3.125% 3.125% 3.125%
760-779 3.125% 3.125% 3.125% 3.125%
780-799 3.125% 3.125% 3.125% 3.125%
800+ 3.125% 3.125% 3.125% 3.125%

*Based on a 10% down payment for a 30-year fixed-rate conventional mortgage

Interest rates vary by lender

Interest rates are affected by the economy and the federal funds rate, or the rate that banks charge each other for overnight loans. But they’re also affected by individual lenders, which can have differing overhead costs, profit margins and credit score requirements.

Comparing lenders can help you find the best deal. Select See rates to provide the company with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

Interest rates also vary by loan type

The type of loan you get can also affect how much you pay for your Montana home. 15-year mortgages generally offer lower interest rates than 30-year mortgages, and you’ll see different rates for conventional loans than government loans.

Loan type $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
15-year conventional 2.500% 2.500% 2.375% 2.375%
30-year conventional 3.250% 3.250% 3.250% 3.250%
15-year FHA 2.625% 2.375% Not eligible Not elegible
30-year FHA 3.125% 3.000% Not eligible Not elegible
15-year VA 2.938% 2.688% 2.563% 2.500%
30-year VA 3.188% 3.250% 3.125% 3.125%

*Based on a 10% down payment, fixed interest rate and 710 credit score

Research ahead of time to get the best rates

Try a few of these suggestions to increase your chances of qualifying for a better rate on your next mortgage.

  1. Research loan products. Lenders usually offer several types of loan programs, each with specific rates. See what loans you qualify for before comparing mortgage rates.
  2. Build your credit profile. Lenders prefer borrowers with good to excellent credit. If you work to pay off existing debts and increase your credit score, you could qualify for a better rate.
  3. Understand closing costs. Montana lenders often charge 0.91% to 1.36% of the total purchase price of the home in closing costs. Factor in these costs when considering different lenders.

Home values in Montana are forecast to increase

Montana’s home values are expected to grow through 2022 in a big way, according to Zillow. Missoula and Kalispell could see value gains by as much as 20%. Even Butte, the city expected to experience the smallest increase, may see home values rise by as much as 8.5%.

With a booming market and prices on the rise, if Zillow’s forecasts come true, you may want to find your home soon — before you are priced out of the market.

5 fast facts about the Montana housing market

If you’re planning a move to Montana, consider the following facts while you shop around for a mortgage:

  1. Montana has a low property tax rate, averaging 32nd in the US at .84%.
  2. The cost of living in Montana is almost the same as the national average, including housing, which averages only $1,000 more than the US median of $231,200.
  3. This state offers help for homebuyers through low-interest mortgage programs, down payment assistance and homebuyer education programs.
  4. If you plan to use a Montana Housing loan, you may be subject to a Recapture Tax if you sell the home within nine years and make a substantial profit.
  5. Montana is another state with severe winter weather, which could help you find a deal — if you don’t mind a little snow on moving day.

Bottom line

Mortgage rates in STATE vary by loan type, and factors like your credit score and lender affect what rate you get. But factors like your credit score and lender affect what rate you get. Compare mortgage lenders and programs to find one that best fits your homeownership goals.

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site