Montana’s Best Mortgage Lenders & Current Mortgage Rates

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If you’re interested in buying a home in Montana, you’ll be in good company. Though there are just 515,000 housing units in the state, the homeownership rate of 68% is above the national average, according to the U.S. Census Bureau’s 2018 American Community Survey.

Montana’s median housing value is $249,200, which is just above the national median of $229,700. Home values range widely by region, however, with the lowest counties reporting a median of $89,800, the highest median going up to $330,400.

U.S. News’ Best Montana Mortgage Lenders of 2021

PNC Bank

3% Min. Down Payment
Not disclosed Min. Credit Score

McGlone

5% Min. Down Payment
Not disclosed Min. Credit Score

Lender

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3% Min. Down Payment
Not disclosed Min. Credit Score

Lender

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5% Min. Down Payment
Not disclosed Min. Credit Score

Best for bad credit

Carrington Mortgage Services makes a range of mortgages, including refinancing, available to borrowers nationwide. The company, which provides conventional government-backed mortgages, has funded $22 billion in home loans since 2011.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, Carrington Flexible Advantage, first-time buyers, refinancing
  • Minimum FICO credit score: 500
  • Maximum loan amount: $2.5 million
  • Better Business Bureau rating: A+

Best Features

  • Applicants with credit scores as low as 500 are accepted for some products.

  • Conventional loans are offered with down payments as low as 3%.

See full profile

Best for product availability

Fairway Independent Mortgage Corp. is based in Madison, Wisconsin, has funded billions of dollars in loans since the company began in 1996 – more than $58 billion in 2020 alone. The lender offers several mortgage products, including conventional, Federal Housing Administration, U.S. Department of Agriculture, U.S. Department of Veterans Affairs refinancing loans. Fairway Independent Mortgage also provides jumbo loans for home purchases in high-cost markets, renovation loans, adjustable-rate mortgages reverse mortgages. Fairway is an independent mortgage company serves as a mortgage broker direct lender.

Before You Apply

  • Mortgage types: fixed rate, ARM, conventional, USDA/Rural Development, FHA, VA, jumbo, refinance, renovation, reverse mortgage
  • Minimum FICO credit score: 580
  • Maximum loan amount: undisclosed
  • Better Business Bureau rating: A+

Best Features

  • The selection of mortgages includes VA USDA loans, which often have no down payment requirements.

  • The company has an A+ customer service rating with the Better Business Bureau.

  • Renovation loan options include the HomeStyle Renovation Loan, which combines the cost of remodeling the mortgage into one loan.

See full profile

Best for consumers with credit scores between poor good

NBKC Bank is a Kansas-based mortgage lender. It originates home loans in all 50 states.

Before You Apply

  • Mortgage types: conventional, fixed rate, ARM, FHA, refinance, VA, FHA Streamline Refinance, Refi Plus, VA Streamline Refinance
  • Minimum FICO credit score: 620
  • Maximum loan amount: Not disclosed
  • Better Business Bureau rating: A+

Best Features

  • Borrowers with fair credit may qualify.

  • It features a simple online application process.

  • VA loan borrowers aren’t charged lender fees.

See full profile

Best for product selection

Guild Mortgage, founded in 1960, specializes in home loans serves borrowers nationwide. The lender’s full suite of products includes conventional government-backed mortgages home renovation loans.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, refinancing, renovation, jumbo
  • Minimum FICO credit score: 620
  • Maximum loan amount: $2 million
  • Better Business Bureau rating: A+

Best Features

  • A broad range of mortgage products are offered.

  • Special mortgage programs for first-time buyers manufactured homebuyers are available.

See full profile

Best for VA loans

Veterans United Home Loans provides mortgages to veterans military families in all 50 states Washington, D.C., specializes in VA loans.

Before You Apply

  • Mortgage types: VA, VA jumbo, refinance
  • Minimum FICO credit score: 640
  • Maximum loan amount: $1.5 million
  • Better Business Bureau rating: A+

Best Features

  • No down payment or PMI are required.

See full profile

Best online bank for customer service

Ally Bank is a Detroit-based online bank. Ally offers traditional banking products services, such as conventional mortgages, as well as refinance loans jumbo home loans.

Before You Apply

  • Mortgage types: fixed rate, ARM, home equity loans, refinancing, HomeReady for first-time homebuyers
  • Minimum FICO credit score: 620
  • Maximum loan amount: $4 million
  • Better Business Bureau rating: A+

Best Features

  • A program is available for first-time homebuyers.

  • Existing Ally customers can get a closing cost discount.

See full profile

Best for large loan amounts

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs jumbo loans, as well as home equity lines of credit mortgage refinancing.

Before You Apply

  • Mortgage types: fixed rate, Affordable Loan Solution, FHA, VA, ARM, home equity line of credit, fixed-rate refinancing, FHA refinancing, VA refinancing, cash-out refinancing, adjustable-rate refinancing, jumbo
  • Minimum FICO credit score: Not disclosed
  • Maximum loan amount: $2.5 million
  • Better Business Bureau rating: A+

Best Features

  • Bank of America has a wide variety of mortgage products.

  • The lender offers origination fee discounts for qualifying Bank of America Merrill Lynch clients.

  • Home equity lines of credit have no annual, application or cash advance fees or closing costs.

  • Bank of America offers a first-time homebuyer program.

See full profile

Best for low down payment

PNC Bank is one of the largest U.S. banks, serving more than 8 million customers in all 50 states. PNC offers most types of mortgages.

Before You Apply

  • Mortgage types: fixed rate, FHA, VA, USDA, ARM, home equity line of credit, refinancing, medical professional mortgage program, jumbo, PNC Community
  • Minimum FICO credit score: Not disclosed
  • Maximum loan amount: $5 million
  • Better Business Bureau rating: A+

Best Features

  • Multiple types of mortgages are available.

  • Some mortgage options require no or low down payments.

  • PNC supplies an online home ownership cost tool.

See full profile

Best for no down payment

Alliant Credit Union is a nonprofit financial cooperative. The credit union serves customers in all 50 states. Mortgage products include conventional, jumbo refinancing loans, home equity lines of credit.

Before You Apply

  • Mortgage types: Traditional, ARM, refinancing, home equity line of credit, Alliant Advantage Mortgage
  • Minimum FICO credit score: 620
  • Maximum loan amount: $2.5 million
  • Better Business Bureau rating: A+

Best Features

  • No-down-payment mortgages are available for first-time homebuyers with excellent credit.

  • Mortgages are available to borrowers with FICO credit scores as low as 620.

See full profile

Best for online service

Caliber Home Loans of Coppell, Texas, offers mortgage home equity products nationwide. Options include conventional, adjustable-rate, refinancing, Federal Housing Administration, U.S. Department of Agriculture Veterans Affairs loans. Caliber has been in business since 2008, is focused on home lending products.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, refinancing, bond, renovation, Freddie Mac HomeOne, Freddie Mac Home Possible, Fannie Mae HomeReady
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A

Best Features

  • The first-time homebuyer program HomeOne can require a down payment of as little as 3% borrowers may qualify with a minimum 620 credit score.

  • Government-insured loans including Federal Housing Administration, Veterans Affairs, United States Department of Agriculture programs are available.

See full profile

What Are the Mortgage Rates in Montana?

The average interest rate for a 30-year fixed-rate conforming mortgage in Montana is 2.94%.

Home interest rates range from 2.5% to 3.63% in Montana.

What Are Today’s Mortgage Rates?

Mortgage Calculator

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

What Are Some Montana Homebuyer Programs?

Montana homebuyers can get help with down payments closing costs from these Montana Housing programs.

Available to: First-time homebuyers who first qualify for a Federal Housing Administration, Veterans Affairs, United States Department of Agriculture Rural Development or Section 184 Indian Home Loan Guarantee Program first mortgage loan.
Income limits: Vary by county (see income limits).
First-time homebuyers only?: Yes.
Benefits: A lower interest rate.
Down payment closing cost assistance: Programs are available may be combined.

Available to: Borrowers who are eligible for a Regular Bond Program loan with a minimum credit score of 620; completion of a buyer education program is also required.
Income limits: Vary by county (see income limits).
First-time homebuyers only?: Yes.
Down payment closing cost assistance: Available for up to 5% of the sales price, maximum $10,000, as a 15-year amortizing loan with low monthly payments the same fixed rate as the main loan. Borrowers must contribute at least $1,000 of their own funds.

Available to: Borrowers with a minimum credit score of 620 maximum debt-to-income of 43%; completion of a buyer education program is also required.
Income limits: $55,000
First-time homebuyers only?: Yes.
Down payment closing cost assistance: Available for up to 5% of the sales price, maximum $6,500, as a 0% second loan with no monthly payments. Borrowers must contribute at least $1,000 of their own funds.

Available to: Homebuyers who are eligible for Montana Housing financing.
Income limits: Vary by county (see income limits).
First-time homebuyers only?: No.
Benefits: This is a 30-year mortgage loan at 80% loan-to-value that is combined with a second loan at 20% LTV offered by a partnering nonprofit.

Available to: Montana residents serving or who have served in the military through the federal armed services or the Montana National Guard.
Income limits: No income, purchase price or asset limits apply.
First-time homebuyers only?: No.
Benefits: Mortgage interest rate is 1% lower than market rate.

Available to: Homebuyers who meet the same IRS eligibility requirements as the Montana Housing loan programs, but Montana Housing loans are not eligible for MCC.
Income limits: N/A.
First-time homebuyers only?: Yes.
Benefit: A tax credit that reduces the amount of federal income tax paid by a first-time homebuyer. The tax credit is equal to 20% of the mortgage interest (not to exceed $2,000) paid during the tax year.

View More Best Montana Mortgage Lenders

Best for product range

CMG Financial is a privately held mortgage banking firm operating nationwide with localized support, founded in 1993 based in San Ramon, California. The lender offers a range of products including conventional, government specialty mortgages, like jumbo loans.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, jumbo, All in One Loan, 203K Renovation Loan, Fannie Mae HomeReady, Freddie Mac Home Possible, HomeFundIt, refinance
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Exclusive mortgage products include the HomeFundIt for crowdfunding a down payment.

  • The lender has a national presence with regional fulfillment local support.

  • CMG Financial offers a mobile app.

See full profile

Best for fair credit

Flagstar offers banking lending products in every state. Borrowers can select from conventional or government-backed mortgages, such as FHA, VA U.S. Department of Agriculture loans, opt for adjustable-rate mortgages. Other choices include home equity loans lines of credit.

Before You Apply

  • Mortgage types: conventional, VA, ARM, FHA, USDA, jumbo, refinance, home equity
  • Minimum FICO credit score: Not disclosed
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Flagstar Bank provides a broad selection of mortgages home equity loans.

  • Some mortgages require no or a low down payment.

  • Borrowers can apply for loans online.

See full profile

Best for digital mortgages

LoanDepot is an online lender operating in all 50 states with more than 200 in-person branches. The company was founded in 2010 is headquartered in Southern California. LoanDepot offers Federal Housing Administration Department of Veterans Affairs loans, as well as home equity refinancing loans.

Before You Apply

  • Mortgage types: refinance, jumbo, hybrid ARM, fixed rate, HARP, VA, FHA, 203k loan
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • LoanDepot mortgages have a lifetime guarantee, which means if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fees reimburse appraisal fees.

  • The company offers a variety of mortgage products.

  • It’s licensed in all 50 states.

See full profile

Best for digital customer care

PrimeLending is a Dallas-based mortgage lender with several mortgage loan options, including conventional loans, jumbo loans, government-backed loans refinance loans. The lender is a subsidiary of PlainsCapital Bank.

Before You Apply

  • Mortgage types: fixed rate, ARM, conventional, cash-out refinance, refinance, jumbo, FHA, VA, USDA, new construction, interest rate reduction refinance loan
  • Minimum FICO credit score: 640
  • Maximum loan amount: undisclosed
  • Better Business Bureau rating: A+

Best Features

  • Homebuyers can choose from a variety of mortgage products.

  • Home loans are available nationwide.

  • Down payment closing cost assistance is available.

See full profile

Best for array of products

Founded in 1999, McGlone Mortgage Group is licensed in multiple states to offer purchase refinance home loans. Headquartered in Appleton, Wisconsin, McGlone Mortgage Group offers many different mortgage options.

Before You Apply

  • Mortgage types: conventional, jumbo, FHA, VA, USDA, HomeReady, High Balance/Super Conforming, Energy Efficient Mortgage, FHA
  • Minimum FICO credit score: Not disclosed
  • Maximum loan amount: $2 million
  • Better Business Bureau rating: A+

Best Features

  • Varied loan options are available.

  • McGlone Mortgage Group offers mortgage calculators other tools.

  • Co-signers are allowed for most loans.

See full profile

Best for conventional mortgage

Citizens Bank is a regional bank based in Providence, Rhode Island. It offers traditional banking services products, including home loans mortgage refinance loans.

Before You Apply

  • Mortgage types: conventional, ARM, refinance, HELOC, jumbo, fixed rate
  • Minimum FICO credit score: undisclosed
  • Maximum loan amount: undisclosed
  • Better Business Bureau rating: A+

Best Features

  • Citizens Bank provides a homebuying service with rewards for borrowers in select states.

  • Homebuyers can get an interest rate discount for qualifying automatic payments.

  • Borrowers can apply online.

See full profile

Best for government loans

Founded in 2008, PennyMac is a national mortgage lender with more than $402 billion in loans serviced. PennyMac offers a range of home loans, including conventional, Federal Housing Administration, Veterans Affairs investment property mortgages.

Before You Apply

  • Mortgage types: conventional, FHA, VA, ARM, refinancing
  • Minimum FICO credit score: 620
  • Maximum loan amount: $765,600
  • Better Business Bureau rating: A+

Best Features

  • PennyMac accepts a 50% debt-to-income ratio for conventional loans in some instances.

  • Online capabilities include a 24/7 access center email status updates.

See full profile

Best for low APR

New American Funding is a national mortgage lender with a variety of home loan options. The lender has processed more than $27 billion in mortgages.

Before You Apply

  • Mortgage types: ARM, cash-out refinance, conventional, FHA, HELOCs, jumbo, reverse, USDA VA
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Provides multiple mortgage options, including low no down-payment loans

  • Offers fixed- or adjustable-rate mortgages

See full profile

Best for product availability

Freedom Mortgage Corp. serves more than 1 million customers in all 50 states, plus the District of Columbia, the U.S. Virgin Islands Puerto Rico. The lender offers various mortgage products, including conventional, adjustable-rate, jumbo, refinance, Federal Housing Administration, Department of Veterans Affairs U.S. Department of Agriculture loans.

Highlights
Mortgage types offered: Conventional, FHA, VA, USDA, Refinancing (conventional), Refinancing (FHA), Refinancing (VA), Refinancing (USDA)
• Minimum FICO score: 620 (conventional), No minimum (VA), 540 (FHA), No minimum (USDA)
• Max DTI: Not disclosed
• J.D. Power satisfaction rating: Two out of five

Best Features

  • Wide selection of mortgage loans.

  • Prequalification is available.

  • Borrowers with fair credit may qualify.

See full profile

Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.

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Best Credit Cards With No Annual Fee of July 2021

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You might be willing to fork over an annual fee for your credit card if the value of your rewards benefits outweighs the fee. Generally, cards that charge annual fees come packed with perks, you can come out ahead despite the cost.

Still, 60% of consumers said having no annual fee is a very important factor when choosing a credit card, according to a 2019 Discover survey about annual fees. No matter what type of credit card you want, look at options with without annual fees. These examples can show you how an annual fee may or may not pay off.

Chase Freedom Flex vs. Chase Sapphire Preferred Card:
Chase Freedom Flex charges no annual fee offers a 15-month 0% introductory APR on purchases, while the Chase Sapphire Preferred Card has a $95 annual fee no introductory APR on purchases or balance transfers.

On Chase Freedom Flex you can earn a $200 cash bonus after spending $500 on purchases in your first 3 months from account opening or an 100,000-point sign-up bonus with the Chase Sapphire Preferred Card but will need to charge $4,000 in the same time frame.

Which card can help you get more cash back depends on your spending habits. Chase Freedom Flex earns 5% cash back on up to $1,500 in quarterly bonus categories you activate; 5% back on travel booked through the Chase Ultimate Rewards portal; 5% back on Lyft rides through March 2022; 3% back on dining, including takeout eligible delivery services, plus drugstore purchases; 1% back on all other purchases.

The Chase Sapphire Preferred Card accrues two points per dollar on travel dining, including eligible delivery services takeout orders, one point per dollar on everything else. Cardholders get five points per dollar on Lyft rides through March 2022, a one-year subscription to DashPass for free deliveries reduced service fees, plus up to $60 in statement credits on qualifying Peloton purchases through 2021. The card also allows you to redeem Ultimate Rewards points for statement credits toward purchases in rotating categories for 25% more value using Chase’s Pay Yourself Back feature.

If you need an introductory APR on purchases or balance transfers, you can rule out the Chase Sapphire Preferred Card. On the other hand, Chase Freedom Flex isn’t the best choice if you don’t spend a lot on the card’s bonus categories or you usually carry a balance. You could pay a high APR based on your creditworthiness.

Bank of America Customized Cash Rewards credit card vs. Bank of America Premium Rewards credit card: The Bank of America Customized Cash Rewards credit card has no annual fee, the Bank of America Premium Rewards credit card charges a $95 annual fee.

With the no-annual-fee card, you can earn 3% cash back in a category of your choice 2% back at grocery stores wholesale clubs, on up to $2,500 quarterly in combined purchases. The card offers unlimited 1% cash back on everything else.

By comparison, the Bank of America Premium Rewards credit card pulls in two points per dollar on travel dining purchases unlimited 1.5 points per dollar on all other purchases. Cardholders also get up to $100 in annual statement credits toward incidental airline fees up to $100 in statement credit every four years for the Global Entry or TSA Precheck application fee.

You can pick up a sign-up bonus with either card. The Bank of America Premium Rewards credit card dangles a 50,000-point bonus worth $500, but you will need to spend $3,000 in purchases in the first 90 days of account opening. The Bank of America Customized Cash Rewards credit card has a smaller $200 cash rewards bonus, but you will need to spend only $1,000 on purchases in the first 90 days of account opening.

If a 0% introductory rate is a priority, the Bank of America Premium Rewards credit card does not offer one. However, the Bank of America Customized Cash Rewards credit card provides a 0% introductory APR for 15 billing cycles on purchases balance transfers made in the first 60 days. Both cards are eligible for rewards bonuses of up to 75% for members of Bank of America’s Preferred Rewards program.

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