Monthly Payment on a $250K Mortgage in Montana
Using Montana's 0.74% property tax rate and $2,100/yr homeowners insurance.
$250K 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% | $1,816 | $1,738 | $1,465 |
| 6.0% | $1,892 | $1,809 | $1,528 |
| 6.5% | $1,969 | $1,883 | $1,593 |
| 7.0% | $2,048 | $1,957 | $1,660 |
| 7.5% | $2,128 | $2,034 | $1,728 |
| 8.0% | $2,210 | $2,111 | $1,797 |
How This Compares to Montana's Median
A $250K home is 42% below Montana's median of $430K. You'll find homes at this price in cities like Lewistown, Butte, Havre, Miles City.
Income Needed for a $250K Home in Montana
To afford this payment of $1,883/mo in Montana, you'd need a household income of approximately $81K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $80K salary can afford →Closing Costs in Montana
Estimated closing costs in Montana: $4K (1.5% of purchase price). Montana has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $250K Mortgage in Montana
With 10% down ($25,000), your loan of $225,000 at 6.5% over 30 years produces a principal and interest payment of $1,422/mo. Adding Montana's 0.74% property tax ($154/mo) and $2,100/yr insurance ($175/mo) brings your total to $1,883/mo. Because you're putting less than 20% down, PMI adds $131/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $286,975 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $26,920 over the life of the loan.