Key Terms
- Jumbo loans in Montana outperform conventional mortgages (like FHA loans) when it comes to conforming limits.
- Borrowers likely will not need a large down payment with a Montana jumbo loan.
- With jumbo loans, Montanans can finance a more expensive home with just one mortgage.
It’s hard to describe “Big Sky” country, but once you’ve seen it, it’s often hard to leave. That’s why so many are devoted to life in beautiful Montana. With its stunning vistas and hearty terrain, the state offers some of the most invigorating living you can experience in the U.S. From the charm of Missoula to the urban elegance of Helena, Montana has something for everyone.
Home prices are rising in Montana, however, like everywhere else in the country. If you’re looking to buy a higher-value home in Montana, then getting a jumbo loan may be right for you. Government-backed loans can be viable options for borrowers looking for homes in lower price ranges, but jumbo loans are best suited to applicants seeking a way to mortgage a larger or more expensive property. .
According to the Montana Association of Realtors, the median sales price of a home in Montana is $241,000. While that number has yet to exceed the jumbo loan limit in Montana, many new properties in Montana are exceeding conforming limits, especially properties with extensive acreage.
For the most recent year, the HDMA data places Montana 43rd in the country in terms of mortgage origination activity, with a total of $2.36 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Montana, you’ll be among good company.
What is the jumbo loan limit in Montana?
The jumbo loan limit in Montana is $726,200 for all counties in the state. Any loan that exceeds $726,200 is a jumbo loan in the state of Montana. Any loan that is less than $726,200 is a conforming loan in the state of Montana.
Montana Jumbo Loan Limits (September 2023)
Montana county-by-county jumbo loan, conforming loan and FHA loan limits.
Montana County | Montana Jumbo loan (1-unit) | Montana Conforming loan limit (1-unit) | Montana FHA loan limit (1-unit) |
---|---|---|---|
Beaverhead | $726,200+ | $726,200 | $420,680 |
Big Horn | $726,200+ | $726,200 | $420,680 |
Blaine | $726,200+ | $726,200 | $420,680 |
Broadwater | $726,200+ | $726,200 | $420,680 |
Carbon | $726,200+ | $726,200 | $420,680 |
Carter | $726,200+ | $726,200 | $420,680 |
Cascade | $726,200+ | $726,200 | $420,680 |
Chouteau | $726,200+ | $726,200 | $420,680 |
Custer | $726,200+ | $726,200 | $420,680 |
Daniels | $726,200+ | $726,200 | $420,680 |
Dawson | $726,200+ | $726,200 | $420,680 |
Deer Lodge | $726,200+ | $726,200 | $420,680 |
Fallon | $726,200+ | $726,200 | $420,680 |
Fergus | $726,200+ | $726,200 | $420,680 |
Flathead | $726,200+ | $726,200 | $441,600 |
Gallatin | $726,200+ | $726,200 | $603,750 |
Garfield | $726,200+ | $726,200 | $420,680 |
Glacier | $726,200+ | $726,200 | $420,680 |
Golden Valley | $726,200+ | $726,200 | $420,680 |
Granite | $726,200+ | $726,200 | $420,680 |
Hill | $726,200+ | $726,200 | $420,680 |
Jefferson | $726,200+ | $726,200 | $420,680 |
Judith Basin | $726,200+ | $726,200 | $420,680 |
Lake | $726,200+ | $726,200 | $420,680 |
Lewis And Clark | $726,200+ | $726,200 | $420,680 |
Liberty | $726,200+ | $726,200 | $420,680 |
Lincoln | $726,200+ | $726,200 | $420,680 |
Mccone | $726,200+ | $726,200 | $420,680 |
Madison | $726,200+ | $726,200 | $420,680 |
Meagher | $726,200+ | $726,200 | $420,680 |
Mineral | $726,200+ | $726,200 | $420,680 |
Missoula | $726,200+ | $726,200 | $471,500 |
Musselshell | $726,200+ | $726,200 | $420,680 |
Park | $726,200+ | $726,200 | $460,000 |
Petroleum | $726,200+ | $726,200 | $420,680 |
Phillips | $726,200+ | $726,200 | $420,680 |
Pondera | $726,200+ | $726,200 | $420,680 |
Powder River | $726,200+ | $726,200 | $420,680 |
Powell | $726,200+ | $726,200 | $420,680 |
Prairie | $726,200+ | $726,200 | $420,680 |
Ravalli | $726,200+ | $726,200 | $422,050 |
Richland | $726,200+ | $726,200 | $420,680 |
Roosevelt | $726,200+ | $726,200 | $420,680 |
Rosebud | $726,200+ | $726,200 | $420,680 |
Sanders | $726,200+ | $726,200 | $420,680 |
Sheridan | $726,200+ | $726,200 | $420,680 |
Silver Bow | $726,200+ | $726,200 | $420,680 |
Stillwater | $726,200+ | $726,200 | $420,680 |
Sweet Grass | $726,200+ | $726,200 | $420,680 |
Teton | $726,200+ | $726,200 | $420,680 |
Toole | $726,200+ | $726,200 | $420,680 |
Treasure | $726,200+ | $726,200 | $420,680 |
Valley | $726,200+ | $726,200 | $420,680 |
Wheatland | $726,200+ | $726,200 | $420,680 |
Wibaux | $726,200+ | $726,200 | $420,680 |
Yellowstone | $726,200+ | $726,200 | $420,680 |
4 Top Montana jumbo loan lenders
If you’re ready to look over the best jumbo loan lenders in Montana, here are some options to consider.
1. Keybank
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among homeowners throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan options and here are the key terms and highlights:
SilverKey Mortgage
- Loan amounts up to $3.5 million
- 10% down up to $1.5 million
- Fixed or variable rates available
- No private mortgage insurance required
- Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
GoldKey Mortgage
- Loan amounts up to $3.5 million
- 10% down up to $1.5 million
- Fixed or variable rates available
- No private mortgage insurance required
- Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
- Available for second homes and investment properties.
Jumbo Interest-Only Mortgages
- Loan amounts up to $3.5 million
- 30% down on mortgages up to $1.5 million for primary residences
- 35% down on mortgages up to $2 million for second homes
- No private mortgage insurance required
- ARM (adjustable rate mortgage)-only options
When you’re ready to connect with a loan officer experienced in jumbo home loans, use our form to quickly match with jumbo loan programs based on your specific circumstances.
2. Huntington Bank
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about the jumbo loan rates
- Loan amounts up to $2.5 million
- Purchase and refinance available
- Refinancing allows you to take up to $750,000 of equity out of your home.
- Second homes are eligible
- Multi-unit properties are eligible
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
3. SoFi
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:
- Loan amounts up to $3 million
- Down payments start at 10% and increase as the loan amount increases.
- No PMI, regardless of your down payment amount.
- 15-year or 30-year fixed rate products available
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
4. Flagstar Bank
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
- Loan amounts up to $3 million on primary residences
- Loan amounts up to $2.5 million on second homes
- Purchase and rate/term refinance options available on primary residences and second homes
- No prepayment penalties
- First-time homebuyers permitted
- No mortgage insurance options available
- Cash-out options available on primary residence
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Do I need a Montana jumbo loan?
You may well need one if you are interested in a new, premium home or a ranch or farm property with plenty of acres. Why? Conventional limits prevent you from borrowing more than $548,250 in Montana. This often means that you have to use multiple mortgages to finance purchases with a higher price. With a jumbo loan and its higher limits, you can finance a very large or expensive Montanan property with a single loan.
As prices in Montana continue to rise, more and more people in this state will turn to the ease of jumbo loans. Alternatives, such as putting down a very significant down payment on a conventional loan to offset limits, make for very complicated financial pictures.
What are conforming loan limits?
Conforming loan limits are set by the Federal Housing Finance Agency (FHFA), the government agency which oversees Fannie Mae and Freddie Mac, the two home mortgage companies that buy most of the home loans made in the U.S. from mortgage lenders and resell them to private investors.
The pros and cons associated with Montana jumbo loans
If you are considering a jumbo loan, what are their pros and cons? The most important pro, of course, is that these loans give you a much easier way to finance a big home purchase.
Yes, there are cons. You will need to have a good to great credit score to qualify for a Montana jumbo loan. These loans can cost more, too, in the form of interest rates. Finally, get ready for an extended approval process. Banks are pretty exposed with jumbo loans, given their size; as a result, they tend to engage in a good deal of due diligence during approval.
Need a jumbo loan in a different state?
If you want to find the best jumbo loans in other states, click on your state below.

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.