Can I Afford a $300K Home in Montana?
Complete mortgage breakdown for a $300,000 home in Montana, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$1,912/mo
P&I: $1,577 + Tax: $185 + Insurance: $150
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $9,000 | $2,368 | $101,482 |
| 5% | $15,000 | $2,326 | $99,686 |
| 10% | $30,000 | $2,221 | $95,195 |
| 20% | $60,000 | $1,912 | $81,927 |
Monthly Cost Breakdown (Montana)
Principal & Interest
$1,577/mo
Property Tax (0.74%)
$185/mo
Homeowners Insurance
$150/mo
Total Interest (30-yr)
$327,586
Affordability Rules of Thumb
28% Rule (Housing)
$81,927/yr
Minimum gross income
36% Rule (All Debt)
$63,721/yr
If no other debt
3Ã Income Rule
$100,000/yr
Conservative target
Buying a $300K Home in Montana
A $300,000 home in Montana falls in the mid-range of the housing market. At $1,912/month with 20% down, you'll need a household income of about $81,927 to comfortably afford this home under the 28% rule. Property taxes in Montana (0.74%) add $185 monthly to your costs.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Montana.