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Mortgage rates in Montana

Mortgage rates that match or are slightly higher the national average.

Mortgage rates in the Treasure State average 4.464% for 30-year loans. And they shouldn’t drift too far from the 4% mark in the approaching year.

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Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). 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: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(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.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
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 #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

How much do Montana rates vary?

Average mortgage rates in Montana average between 4.311% and 4.713% for 30-year loans in 2018. Factors that affect your rate include your credit score, the loan type and the term. For example, conventional mortgages generally come with higher interest rates but fewer eligibility requirements than government-insured loans.

2018 average rates in Montana by loan type

Loan type15-year average rate30-year average rate
USDANot available4.311%

Based on data from

To illustrate, if you borrowed $215,000, with a 30-year conventional mortgage at 4.713%, you could expect to pay about $1,120 monthly, excluding taxes and fees. On the other hand, if you qualify for a 30-year FHA loan with the average rate of 4.439% might run you slightly under that at $1,080 a month.

Qualifying for an FHA loan could save you $60 a month or $12,660 in interest over the course of the entire loan.

Montana mortgages rates will likely swing slightly above and below the 4% mark in 2020.

Average mortgage rates in Montana have either matched or surpassed the national since 2013. In 2017, 30-year interest rates were 0.02% higher than the rest of the country, while 2018 was 0.10% higher.

According to Greg McBride, Bankrate chief financial analyst, mortgage rates shouldn’t stray too far from 4%. That means that Montana mortgage rates should follow suit by matching or coming in a touch higher than 4%.

Compare mortgage rates throughout Montana

Montana has three primary metropolitan areas, each hovering over the same percentage rate. But with varying home values across regions, homeowners in Montana can expect an average monthly mortgage between $800 to $1,200.

We combed through data from the Home Mortgage Disclosure Act to give you an idea of what a 30-year fixed-rate mortgage might cost you in Montana. These estimates do not account for charges, such as property tax and PMI, distinct to your mortgage.

Metropolitan statistical areaAverage mortgage rateMedian loan amountEstimated monthly cost
Great Falls4.413%$175,000$880

Based on data from

How to get the best mortgage rate in Montana

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.

Historical mortgage interest rates in Montana

Bottom line

Although Montana mortgage rates closely resemble the national average, lenders ultimately set your interest rate. Be sure to compare loans and lenders to find the best mortgage rate in Montana.

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