Buying a home in Montana can seem like a fast-paced Olympic sport—like navigating the tight turns on a slalom course at 50mph. As a potential homeowner, you quickly learn that there are many twists to the home-buying process. It can feel scary at first and overwhelming at times. If you don’t keep your eye on the prize, it can all go downhill very fast.

However, the home-buying process doesn’t have to be like this, especially when it comes to getting a mortgage. Getting a mortgage is a race all of its own, and it can even be impacted by the time of year you apply for one. Whatever your dream home may be, at Bank of Bozeman, we are here to help you through the home loan process so you can get a mortgage you feel comfortable with! Let us be your trusted guide and show you when the best time of year to get a mortgage is and our tips and tricks for navigating the seasonal impacts on mortgages.

3 Benefits of Buying a Home Now, Rather than Waiting

  1. In the current market, we are seeing that home prices are continuing to go up. The conventional loan limit is set to increase again in the coming year. What this tells us is that the median home price is going up as well.
  2. That being said, competition for buyers is low right now. When rates were below 6%, home buyers were having to make a decision the moment they looked at a house as to whether or not to put in an offer. Unfortunately, at the time, buyers were being outbid by the next guy. However, buying a home now rather than waiting gives you a better chance at getting the home you want because everyone else is “going to be waiting for the rates to drop.”
  3. The saying goes, “Marry the house, date the rate.” If you’ve found the perfect house and don’t want to miss out on it, there is good news. Your rate today is not going to be the rate you have to live with for 30 years. When the market changes and the rates drop, there will be plenty of refinance options out there to lower the rate and, in turn, lower your monthly payment and/or lower the length of the term of the loan.

Pros for Buying a Home Now:

  • There is currently more inventory available to home buyers
  • There are seller concessions for closing costs and or rate buydown
  • Sellers are motivated to sell, negotiations can be easier
  • Homes are on the market longer giving you more room to decided and/or negotiate
  • At Bank of Bozeman, our appraisal time is less than 2 weeks
  • When rates improves, there are refinancing options available to you

Con for Buying a Home Now:

  • Interest rates are high

When is the Best Time Of Year To Get A Mortgage?

When it comes to the housing market, there are seasonal times of the year when the market fluctuates. Whether it is spring or winter, summer or fall, there can be more or fewer houses available, higher or lower mortgage rates, tight competition, etc. Being aware of how the different times of year impact your mortgage options can help you decide when is the right time for you to purchase your home.

Buying A Home In Springtime

In spring, the snow is finally melting and the real estate market is heating up. Because homeowners are ready to sell, spring is considered one of the busiest seasons for home buying. During this season, homeowners are ready to take advantage of the warmer weather and move out of their houses. Housing inventory increases, and bidding wars begin. Homebuyers should be ready to negotiate quickly on a house during the springtime season because the clock is ticking.


  • An advantage of buying a home in springtime is that there are more housing options to choose from. Inventory is high, so selection can be good.
  • Another advantage is that most people’s tax refunds have become available to them. It is a good opportunity to contribute your tax refund to your home’s purchase.


  • Because the market is competitive at this time of year, mortgage rates also tend to be high. It’s a good idea to speak with our Bozeman mortgage lenders so we can help get you the best mortgage rate possible.
  • Home sellers know there will be competition from buyers during this time. Housing prices can skyrocket in the spring because there is more demand.

Buying A Home In Summer

Spring is a busy time to buy a home, but so is early summer. During the summer, real estate agents take advantage of the pleasant weather and host open houses to show off a home’s best features, such as its curb appeal and landscaping. The housing market can be as hot as a July summer day. In the summer season, homebuyers should expect to still pay top price for a house.


  • An advantage of buying a home in the summer is that there is still a good inventory of homes available to purchase.
  • Another advantage is that children are out of school, which makes it an easier time for families to schedule moving out of one home and into another.


  • Because the market is still competitive in the summer, mortgage rates can still be high. However, we offer many home loan options so you find the right mortgage for you.
  • Like in spring, during the summer, home sellers know there will be lots of competition for their homes. So, housing prices can still be high during this time due to more demand.

Buying A Home In Autumn

In the fall, the warm-weather home-buying frenzy of spring and summer is beginning to wane. Asking prices for homes tend to drop slightly but can still remain higher. If you are looking for a home during September and October, your chances of getting a lower mortgage is better because the price of housing has fallen.


  • An advantage of buying a home in autumn is that home prices have fallen slightly, and you could have a lower monthly mortgage to pay.
  • Another advantage is that competition for homes is less than in the spring months. Because of this, it gives homebuyers leverage to negotiate a better overall price.


  • A disadvantage of purchasing a home in the fall is that fewer people are likely to move. The result is that there are fewer homes to choose from.
  • Also, another disadvantage is that children are back in school, making it harder for families to plan moving time around busy school schedules.

Buying A Home In Winter

During the cold months of winter, temperatures are frigid, housing inventory is low, and home inspections can be hard to do because of the weather. These factors can contribute to a negative experience if you are home searching in December and January. But don’t let the cold weather deter you from buying your home in this season. The housing market can move slowly at this time of year, but home sellers tend to be motivated to negotiate on price, giving you the best time of year to get a mortgage you can afford.


  • An advantage of buying a home in the winter is that average home prices are usually lower at this time. When this happens, you can expect to pay a lower monthly mortgage.
  • Another advantage is that competition for homes has dropped compared to spring months. Homebuyers worried about getting priced out by other buyers now have better negotiating leverage.


  • Like in the fall months, a disadvantage of purchasing a home in the winter is that fewer people are likely to move. The result is that there are fewer homes to choose from.
  • There is a reason no one moves in the winter. Another disadvantage is that it can be challenging to move in cold weather. Home inspections are also hard to achieve, as some exterior inspections can’t be done when a home is covered in snow.

Purchasing A Home Is A Big Decision

Depending on the time of year can have an important impact on your mortgage. If you purchase a home in the springtime, you’ll enjoy having more options to choose from, but you’ll also have more competition. In the winter months, you’ll have fewer other buyers to compete against, but you will also have fewer home options. Deciding when the right time for you to purchase your home is a significant decision. We are here to help you every step of the way! Learn more by speaking with our home mortgage specialists.

3 Steps To Get The Best Mortgage

Buying a home is a big decision. But no matter the season when you decide to purchase, there are a few steps you can take today so you can get the best mortgage possible.

  1. Speak with Bozeman lenders who know the local housing market, like us, at Bank of Bozeman. We know the Gallatin Valley and how to help you navigate Bozeman home loans to find the best mortgage for you and your family.
  2. Assess your debt and learn how your credit score can impact your home purchase. Paying down personal debt puts you in a better position to qualify for better mortgage rates. The result is a lower, more affordable mortgage.
  3. Know your home loan options. At Bank of Bozeman, we offer several types of home loans from conventional, jumbo, HELOC, FHA, and others. We will help you understand the different home loan types available to you.

Are You Ready To Buy A Home?

Many factors can cause Montana mortgage rates to fluctuate, and seasonality can be one of them. Whether you are ready to buy a home during the rush of spring or you can take your time and wait until winter, we have you covered. We take pride in being one of the best banks in Montana by helping our customers reach their goals. We can help you understand when the best time of year to get a mortgage can be and what types of loans would be best for you. Contact us today to see how we can help you purchase the home of your dreams.