The Best Mortgage Lenders in Malta, MT
Compare verified mortgage lenders serving Malta, Montana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Malta
Featured Mortgage Lenders
Valley Federal Credit Union
Valley Federal Credit Union
Valley Federal Credit Union is one of the most highly-rated mortgage lenders serving northeastern Montana, including the Malta area. As a longstanding local financial institution with over 75 years of service, they have deep roots in the community and understand the unique needs of rural Montana homebuyers. Their mortgage team provides personalized service with competitive rates on a wide range of loan products. Customers consistently praise their knowledgeable staff, streamlined application process, and commitment to local community support.
Loan Types:
Stockman Bank
Stockman Bank of Montana
Stockman Bank has been serving Montana communities for over six decades and maintains a strong presence in northeastern Montana with their Glasgow branch conveniently serving Malta residents. They offer comprehensive mortgage services with particular expertise in rural and agricultural property financing. Their local loan officers provide face-to-face service and understand the specific challenges of financing in rural areas. Stockman Bank receives excellent reviews for their competitive rates, flexible terms, and deep understanding of Montana's real estate market.
Loan Types:
First Interstate Bank
First Interstate Bank
First Interstate Bank is a well-established regional bank with a strong Montana presence and a branch in Glasgow that actively serves the Malta community. With over 50 years of banking experience, they offer a full range of mortgage products and are particularly noted for their construction and land loan expertise. Their local mortgage specialists provide personalized guidance throughout the home buying process, and customers consistently rate them highly for their responsiveness, competitive rates, and professional service. Their extensive branch network across Montana ensures consistent service and support.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Malta, MT
What are typical down payment requirements for homes in Malta, MT, given the local market?
In Malta's more affordable market, many conventional loans require a 5-20% down payment, but government-backed loans are very common. For the median-priced home in Malta, an FHA loan with a 3.5% down payment is often attainable, and USDA loans with 0% down are a strong option for eligible properties in the surrounding Phillips County, as much of the area is designated rural.
Are there any Montana-specific first-time homebuyer programs accessible in Malta?
Yes, the Montana Board of Housing (MBOH) offers the "Mortgage Credit Certificate (MCC)" and "Bond Program" loans, which are available statewide, including in Malta. These programs provide below-market interest rates and a federal tax credit for qualified first-time buyers, which can be particularly helpful for buyers with moderate incomes in Phillips County.
How does the appraisal process work for a unique property, like a ranch or acreage, near Malta?
Appraising rural and agricultural properties requires a specialist with knowledge of the local land market. Lenders will order an appraisal from an appraiser familiar with Phillips County who can properly value the home, outbuildings, and land based on comparable sales of similar properties, which may be fewer and farther between than in urban areas.
What should I know about property taxes and insurance when calculating my mortgage payment in Malta?
Phillips County property taxes are generally moderate. Your lender will estimate these for your escrow account based on the home's assessed value. For insurance, you must factor in a robust homeowner's policy that may include coverage for specific risks like hail or wildfire, which can influence your total monthly payment more than in some other regions.
Is it difficult to get a mortgage for an older, historic home in Malta's downtown area?
Financing older homes is common but requires attention to detail. An FHA 203(k) renovation loan or a conventional loan with a thorough inspection is often used. The appraisal must confirm the home meets basic safety and livability standards ("minimum property requirements"), which some very old homes may need updates to satisfy.
Why Choose a Mortgage Lender in Malta?
Local Market Knowledge
Lenders who understand Malta's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Montana.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Malta and get competitive rates on your home loan.