Monthly Payment on a $100K Mortgage in Montana
Using Montana's 0.74% property tax rate and $2,100/yr homeowners insurance.
$100K Mortgage in Montana: Rate Comparison
Monthly PITI payment using Montana's 0.74% property tax and $2,100/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $831 | $800 | $691 |
| 6.0% | $862 | $829 | $716 |
| 6.5% | $893 | $858 | $742 |
| 7.0% | $924 | $888 | $769 |
| 7.5% | $956 | $918 | $796 |
| 8.0% | $989 | $950 | $824 |
How This Compares to Montana's Median
A $100K home is 77% below Montana's median of $430K. This is well within reach in many Montana communities.
Income Needed for a $100K Home in Montana
To afford this payment of $858/mo in Montana, you'd need a household income of approximately $37K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $40K salary can afford →Closing Costs in Montana
Estimated closing costs in Montana: $2K (1.5% of purchase price). Montana has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $100K Mortgage in Montana
With 10% down ($10,000), your loan of $90,000 at 6.5% over 30 years produces a principal and interest payment of $569/mo. Adding Montana's 0.74% property tax ($62/mo) and $2,100/yr insurance ($175/mo) brings your total to $858/mo. Because you're putting less than 20% down, PMI adds $53/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $114,790 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $10,768 over the life of the loan.