Montana First-Time Homebuyer Calculator
First-time homebuyer costs in Montana: $14,875 FHA down payment, $10,200 closing costs, 0.84% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Montana. Includes down payment, closing costs (2.4%), PMI (required below 20% down), property tax (0.84%), and homeowners insurance ($2,200/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Montana homebuyer facts: Median price $425,000 | 20% down = $85,000 | FHA 3.5% down = $14,875 | Closing costs ~$10,200 | Property tax 0.84% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Montana?
For Montana's median home ($425,000): FHA minimum down payment is $14,875 (3.5%), plus $10,200 in closing costs. Total minimum: ~$25,075. With 20% down to avoid PMI: ~$95,200.
What are closing costs in Montana?
Montana closing costs average 2.4% of the home price, or about $10,200 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0%.
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