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2019 FHA Loan Limits in Montana

If you are a Montana resident considering financing a home with an FHA loan, you’ll need to make sure the price of the home you are purchasing falls within the established loan limits.

In most areas in Montana, the maximum loan amount allowed for a single-family home is $314,827. Fortunately, the median home prices in most of the state fall within that limit. In high-cost areas, FHA loan limits for a single-family property could go as high as $412,850, depending on the county.

Montana’s geography is characterized by wide open spaces, hence the nickname “Big Sky Country.” The total population of the state was estimated at just more than 1 million in 2017. Despite large areas of unpopulated land, the Montana housing market represents a mix of rural, suburban and urban areas.

FHA loans in Montana accounted for about a quarter-percent of all FHA mortgages in the U.S. last year, according to a recent FHA report. Within the state, however, about 19 percent of homes purchased with a mortgage were financed with an FHA loan, based on statistics from a 2016 report, the most recent that contains this data.

Find out the FHA mortgage limits in your area.

Montana FHA loan limits by county

FHA Loan Limits in Montana
County Single-Family Limit Two-Family Limit Three-Family Limit Four-Family Limit Median Sale Price
Beaverhead $314,827 $403,125 $487,250 $605,525 $194,000
Big Horn $314,827 $403,125 $487,250 $605,525 $110,000
Blaine $314,827 $403,125 $487,250 $605,525 $98,000
Broadwater $314,827 $403,125 $487,250 $605,525 $209,000
Carbon $314,827 $403,125 $487,250 $605,525 $248,000
Carter $314,827 $403,125 $487,250 $605,525 $99,000
Cascade $314,827 $403,125 $487,250 $605,525 $194,000
Chouteau $314,827 $403,125 $487,250 $605,525 $139,000
Custer $314,827 $403,125 $487,250 $605,525 $166,000
Daniels $314,827 $403,125 $487,250 $605,525 $136,000
Dawson $314,827 $403,125 $487,250 $605,525 $150,000
Deer Lodge $314,827 $403,125 $487,250 $605,525 $129,000
Fallon $314,827 $403,125 $487,250 $605,525 $173,000
Fergus $314,827 $403,125 $487,250 $605,525 $148,000
Flathead $318,550 $407,800 $492,950 $612,600 $277,000
Gallatin $412,850 $528,500 $638,850 $793,950 $359,000
Garfield $314,827 $403,125 $487,250 $605,525 $135,000
Glacier $314,827 $403,125 $487,250 $605,525 $115,000
Golden Valley $314,827 $403,125 $487,250 $605,525 $248,000
Granite $314,827 $403,125 $487,250 $605,525 $166,000
Hill $314,827 $403,125 $487,250 $605,525 $150,000
Jefferson $316,250 $404,850 $489,350 $608,150 $275,000
Judith Basin $314,827 $403,125 $487,250 $605,525 $87,000
Lake $314,827 $403,125 $487,250 $605,525 $237,000
Lewis And Clark $316,250 $404,850 $489,350 $608,150 $275,000
Liberty $314,827 $403,125 $487,250 $605,525 $56,000
Lincoln $314,827 $403,125 $487,250 $605,525 $158,000
Madison $325,450 $416,600 $503,600 $625,850 $251,000
Mccone $314,827 $403,125 $487,250 $605,525 $134,000
Meagher $314,827 $403,125 $487,250 $605,525 $178,000
Mineral $314,827 $403,125 $487,250 $605,525 $201,000
Missoula $334,650 $428,400 $517,850 $643,550 $291,000
Musselshell $314,827 $403,125 $487,250 $605,525 $197,000
Park $314,827 $403,125 $487,250 $605,525 $263,000
Petroleum $314,827 $403,125 $487,250 $605,525 $135,000
Phillips $314,827 $403,125 $487,250 $605,525 $136,000
Pondera $314,827 $403,125 $487,250 $605,525 $125,000
Powder River $314,827 $403,125 $487,250 $605,525 $85,000
Powell $314,827 $403,125 $487,250 $605,525 $156,000
Prairie $314,827 $403,125 $487,250 $605,525 $92,000
Ravalli $314,827 $403,125 $487,250 $605,525 $255,000
Richland $314,827 $403,125 $487,250 $605,525 $233,000
Roosevelt $314,827 $403,125 $487,250 $605,525 $134,000
Rosebud $314,827 $403,125 $487,250 $605,525 $129,000
Sanders $314,827 $403,125 $487,250 $605,525 $170,000
Sheridan $314,827 $403,125 $487,250 $605,525 $165,000
Silver Bow $314,827 $403,125 $487,250 $605,525 $153,000
Stillwater $314,827 $403,125 $487,250 $605,525 $243,000
Sweet Grass $314,827 $403,125 $487,250 $605,525 $182,000
Teton $314,827 $403,125 $487,250 $605,525 $169,000

How are FHA loan limits determined?

Loan limits for FHA mortgages are established every year by the U.S. Department of Housing and Urban Development (HUD). Limits are based on a percentage of the loan amounts allowed for conforming loans — conventional loans that Fannie Mae and Freddie Mac may guarantee.

HUD also takes into account the median home price within a given metropolitan statistical area when establishing loan limits. Both a “floor,” or the lowest limit, and a “ceiling,” the highest loan amount allowed, are established.

In 2019, the FHA standard mortgage limits, which apply to most areas in the U.S. are as follows:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

In high-cost areas, the maximum loan amounts are based on the median home price in the county and can go as high as the following:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Montana?

Once you find out the loan limits for your county, you’ll need to make sure you’re eligible for an FHA loan. While the borrower requirements are more lenient than some other loan options, you’ll still need to meet the minimum credit score required as well as other eligibility criteria.

Our guide on FHA loans spells out everything you need to know about FHA loans, including the qualification requirements and rates in your area.

 

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