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

7 best mortgage lenders in Montana

Looking to buy a home in Montana? Here are the best mortgage lenders in the Big Sky State.

From Missoula to Miles City and from Billings to the Blackfeet Indian Reservation, Montana is home to some of the most alluring real estate in the Western US. If you’re hoping to set down roots somewhere in the Big Sky State, the best mortgage lenders in Montana can make your dreams of homeownership a reality.

What are the best mortgage lenders in Montana?

How we pick mortgage lenders

We chose these Montana mortgage lenders based on several factors, such as their rates, fees, minimum requirements and website features. We also considered recent customer reviews from sites including Zillow, Trustpilot and the Better Business Bureau (BBB). Learn more about Finder’s rating methodology.

Best online experience

Better

See rates
on Better's secure site

Many of Montana’s best mortgage lenders have feature-rich websites that work well on any size screen. Yet few of these sites are as intuitive as the one developed by Better. Whether you use your smartphone, tablet or traditional computer, you’re bound to find Better’s web presence easier to navigate than the websites for other lenders on this list.

And, aside from its sleek website, Better waives origination fees on a few of its mortgage programs, and this lender price-matches competitors if a different company offers you more attractive terms.

Best marketplace

LendingTree

See rates
on LendingTree's secure site

Unlike the other companies on this list, which are all direct lenders, LendingTree is a mortgage marketplace that lets you compare rates from dozens of home loan providers across Montana. After you answer a few questions about the type of loan you're looking for, LendingTree shows you a list of local lenders and their rates.

This site can save you a ton of time while shopping for a mortgage. But LendingTree will share your contact details with other companies, so you can expect a flurry of unsolicited calls and emails.

Best for first-time homebuyers

Rocket Mortgage

See rates
on Rocket Mortgage's secure site

It's common for first-time homebuyers to feel overwhelmed by the process of getting a mortgage. Fortunately, however, Rocket Mortgage by Quicken Loans makes the process much easier by allowing you to get a conditional prequalification in as little as 10 minutes.

Rocket Mortgage also offers more home loan programs than several other lenders on this list. And even if you have a below-average credit score, Rocket Mortgage may still approve you for a home loan.

Best for low rates

Bank of America

For many hopeful homeowners, choosing a lender boils down to finding the one that offers the lowest mortgage rates. And compared to other lenders in Montana, Bank of America tends to have the most competitive rates around. So if you want to pay the least amount of interest possible, Bank of America might be your best bet.

Best for refinancing

Freedom Mortgage

Many of the lenders on this list are dedicated to helping you purchase a place to live, but others, like Freedom Mortgage, can help you refinance your existing mortgages to reduce your monthly payment. Freedom Mortgage provides several refinancing options for homeowners with conventional or government-backed loans, allowing you to get a lower interest rate and more flexible terms with your home loan.

Best regional lender

Opportunity Bank of Montana

Many homebuyers in Montana want to work with a lender with long-standing ties to the state, but several of the companies on this list are headquartered hundreds — or thousands — of miles away. Then there’s Opportunity Bank of Montana.

This lender is based in Helena and has been in operation since 1922, making it one of the state’s oldest financial institutions. Opportunity Bank has more than 20 brick-and-mortar branches across the state, and qualified borrowers can get up to $5,000 in grants.

Stockman Bank

With a history dating back to 1953, Stockman Bank is the largest agricultural lender in Montana and the most popular mortgage provider in the state. The company’s website isn’t as flashy as the sites developed by other lenders on this, but it features a few helpful resources and mortgage calculators. Plus, Stockman Bank gets high marks for customer service.

How do I choose the best lender for me?

Choosing a mortgage lender isn’t a decision you should make lightly. But if you keep these tips in mind, you’re more likely to find a quality lender with a competitive offer.
  • Read reviews. Check popular review sites such as Zillow, WalletHub and Trustpilot to find out what previous customers have to say about a particular lender.
  • Collect a few preapprovals. The more preapprovals you collect from competing lenders, the more leverage you’ll have regarding your mortgage rate.
  • Never accept the first offer. There’s usually some wiggle room when it comes to mortgage rates, so always ask potential lenders if they’re willing to come down a bit to close the deal.
  • Don’t skim the paperwork. Lenders commonly hide critical details in the fine print on their documents and websites, so be sure to read every word before signing anything.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
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
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
loading

Compare up to 4 providers

Average rates and fees in Montana

As of November 23, 2020, the average 30-year fixed-mortgage rate in the US is 2.95%, yet it’s marginally lower in Montana. According to the Consumer Financial Protection Bureau (CFPB), the mortgage rate on 30-year fixed-rate mortgages in Montana average 2.875%. And according to 2019 data from ClosingCorp, Montana closing costs averaged 0.95% of the sales price, which is among the lowest in the country.

What about brokers?

It can take days — or even weeks — to settle on the best lender for you, which is why many homebuyers choose to work with mortgage brokers. Mortgage brokers can compare your options for you to help you identify which lender is best suited to meet your needs.

But it’s important to note that not all brokers can be trusted. It’s an unfortunate truth that some brokers try to charge unnecessary fees to boost their bottom lines. If you decide to work with a broker, read as many recent reviews as possible to ensure the agent is trustworthy.

Bottom line

Montana’s best mortgage lenders each have their strengths and weaknesses, and not all of them are likely to be right for you. Carefully compare what they each have to offer, and apply with the lender that seems like the best fit for your situation. Start applying now, or compare more mortgage lenders.

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

More guides on Finder

Go to site