After the pandemic run-up that pushed median prices from $350 k to $520 k, the Garden City is cooling—but not crashing. March 2024 stats show homes sitting 42 days vs. 9 days last spring, giving buyers breathing room to inspect, negotiate, and still lock a rate before the busy summer season. Active listings are up 18 % year-over-year, yet new construction permits dropped 27 % because builders can’t pencil entry-level specs under $450 k with current material costs; that supply gap supports price floors.

• Median list price: $515 k, median sold: $500 k—3 % spread shows realistic seller expectations
• Homes under $400 k: 22 % of inventory, mostly condos in 59801 or manufactured homes in 59804
• Conforming loan limit 2024: $766 550—puts most Missoula purchases within conventional territory
• Cash offers: 14 %, down from 28 % in 2021, meaning financed bids now compete again

Property taxes run 0.85 % of assessed value, but citywide levies for the library, public safety, and open-space bonds add $200–$400 annually depending on district. NMHL’s TruePayment calculator folds in fire insurance, flood if applicable, and any HOA so your quoted monthly is the number that hits your checking account.

University District / Slant Streets: Walk to downtown coffee, the Clark Fork river path, and Saturday farmers’ market. Expect 1910–1950 bungalows around 1 200 sq ft; $450–$550 k. NMHL 3 % down conventional works here and rental ADUs are legal, letting you offset mortgage with college tenants.

South Hills: Panoramic valley views, larger 1970–1990 ramblers, and quick access to Blue Mountain recreation. Prices $525–$700 k. We use conventional high-balance or jumbo with 10 % down and no PMI through our EquityEdge program.

Rattlesnake Valley: Mix of log cabins and mid-century moderns tucked against national-forest boundary; trailheads in your backyard. Values $550–$900 k. Fire insurance is pricier, so we escrow 14 months up front and negotiate seller credits to cover it.

Grant Creek / Miller Creek: Newer subdivisions, 3-car garages, and elk herds in your field. Entry new builds start at $475 k; lots still available. USDA or conventional 5 % down depending on exact tract; we map it for you.

Orchard Homes / Target Range: Semi-rural, larger lots, horse-friendly, top-rated Hellgate elementary. Median $485 k. Great for USDA zero-down; commute to downtown is 12 minutes via Reserve St corridor.

Montana Housing 80% Combined: For borrowers under 80 % Area Median Income ($92 250 for two-person household) you receive a 0 % second mortgage for down-payment plus closing costs—no monthly payment, due on sale or refinance. Works with FHA, VA, USDA, or conventional. Must use a state-approved lender like NMHL and complete an online homebuyer class.

Start Program: Gives 3 % of purchase price as a true grant—no payback—paired with 30-year conventional at market rate. Income limit 120 % AMI, price limit $450 k in Missoula County. Perfect for condos near UM campus.

Mortgage Credit Certificate (MCC): Federal tax credit worth 20 % of annual interest, saving roughly $1 800–$2 400 per year on a $400 k mortgage. You keep the credit for life of the loan as long as it remains owner-occupied. NMHL files the IRS docs at closing.

Missoula County Workforce Housing: $15 k forgivable after five years for buyers who work for county, city, school district, hospital, or certain nonprofits. Must be first-time buyer and under 120 % AMI. Can stack with Montana Housing first mortgage.

Our NMHL Access Grant adds lender-paid 2 % toward down-payment on conventional loans with no income limit, so even physicians or tech remote workers can qualify when buying high-balance homes in South Hills.

Western Montana’s gig economy—photographers, fishing guides, craft brewers—means many borrowers show strong cash-flow but lumpy tax returns. NMHL’s Bank Statement Loan uses 12 or 24 months of personal or business statements, averages deposits, and adds back depreciation. We qualify at a 24-month average even if last year dipped. Credit scores to 620; LTV up to 90 % on $750 k purchase price.

If your credit took a hit from medical collections or divorce, our Alternative Credit FHA allows 580 scores with 3.5 % down and accepts non-traditional credit: rent history through ClearNow, utility bills, cell phone. We manually underwrite and have gotten approvals with 45 % back-end DTI when residual income exceeds $1 000.

For those coming out of bankruptcy or foreclosure, Montana’s seasoning is flexible: FHA and VA allow 1 year after Ch 13 with on-time trustee payments; conventional allows 2 years short-sale with 20 % down or 4 years with 10 % down plus re-established credit. NMHL’s FreshStart program layers portfolio loans for day-one bankruptcy discharge borrowers at 65 % LTV, ideal for equity-rich sellers downsizing within Missoula.

Home to the Montana National Guard armory and within two hours of Malmstrom AFB, Missoula sees steady VA traffic. Rates sit roughly 40 bps below conventional, and with no monthly MI you can afford more house—crucial when the median is $500 k. NMHL will fund 100 % up to county conforming limit ($766 550 in 2024) and go to $1.5 million with 25 % down on the difference.

Disabled veterans rated 10 % or more get the Montana Veterans’ Home Loan Program: $1 000 grant toward closing costs plus exemption from the 0.5 % state mortgage recording tax—saves $2 500 on a $500 k loan. We layer that with lender credits so your cash-to-close can be under $2 000.

Surviving spouses can still obtain VA financing; we work with the VA Regional office in Helena to obtain COE in 48 hours. If you’re on active orders at Malmstrom and commuting, you can use BAH to qualify—our calculator factors the non-taxable income correctly so DTI works.

Finally, if you bought pre-2022 at 2.5 % and don’t want to give up the rate, we offer a VA Interest Rate Reduction Refinance (IRRRL) that skips income docs and appraisal—close in ten days and start saving immediately.

National Mortgage Home Loans funds in all 29 Montana counties, but we built a Missoula-specific team because this valley’s geography and borrower mix are unique. Our loan officers ski Snowbowl on Wednesday mornings and know the difference between a Lolo-slope view house that needs wildfire mitigation and a university condo that will cash-flow as a future rental.

• Local underwriting: Decisions made on Higgins Avenue, not in a distant cube farm
• Rate-Float Down: Lock today, drop once if rates improve—no fee within 30 days of closing
• Grants stacked: We layer Montana Housing, MCC, county workforce, and our own 2 % Access grant so you bring as little as 1 % to the table
• Credits down to 550: True bad-credit solutions with transparent pricing posted daily
• 21-Day Close Guarantee: $500 back if we miss the date for seller-related delays

Whether you’re eyeing a craftsman in the Slant Streets, a timber frame off Grant Creek, or a modern infill in the Old Sawmill District, the first step is a five-minute online pre-approval or a text to (406) 555-LOAN. We’ll run your credit, scan Montana’s grant calendar, and issue a same-day pre-approval letter strong enough for a multiple-offer market. Welcome to the neighborhood—let’s get you keys before river-floating season kicks off.