Montana investors deal with long distances, big price gaps between towns and weather that tests every roof. A rental in Billings or Great Falls looks nothing like one in Bozeman or Whitefish. What they share is a common problem: many were bought with short-term or local bank financing, and each needs a long-term loan that fits its own rent.
In short: LendingStreet is our top pick for DSCR rate-and-term refinances in Montana. You qualify on the rental's income rather than your tax returns, refinance up to 80% LTV on some programs and choose a 30-year term in place of a balloon or short-term loan. LLC borrowers are standard, the minimum credit score is 620, and loans run from $150,000 with no stated maximum, which covers both Billings starter homes and higher-priced Gallatin Valley rentals.
LendingStreet makes business-purpose DSCR loans on non-owner-occupied rentals with 1 to 8 units. A rate-and-term refinance pays off your current loan plus normal closing costs and replaces it with long-term debt sized on rent. The standard minimum DSCR is 1.0x, and sub-1.0 programs exist for properties that come in a little short, which can matter in high-priced Montana towns where rents lag values.
It fits Montana investors leaving a hard money or bridge loan after a rehab, landlords whose bank wants to renew on tighter terms, and out-of-state owners who want an LLC-held rental on long-term financing. Get a quote with the form below or call (877) 298-1001.
Investors searching for DSCR refinance lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Montana. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
In Montana, investors usually weigh a community bank or credit union, a private individual lender, and a long-term DSCR loan. Here is how they compare for a rate-and-term refinance.
| What matters to investors | LendingStreet | Typical community bank or credit union | Typical private individual lender |
|---|---|---|---|
| How you qualify | Property rent; no W-2s or tax returns | Personal income and tax returns are common | Varies |
| Term | 30-year terms available | Often shorter terms or balloons for investors | Usually short-term |
| Rate-and-term LTV | Up to 80% on some programs | Varies | Varies |
| Higher-balance rentals | No stated maximum; larger balances get more review | Varies by bank size | Varies |
| Out-of-state owners | Welcome | Often prefer local borrowers | Varies |
Most Montana rate-and-term refinances start with debt that was never meant to last. The goal is to swap it for a loan sized on the rent and built to be held, without pulling cash you do not need.
Billings is the state's largest city, with investors buying in the Heights, the West End and older neighborhoods near downtown, where prices are moderate and tenants come from health care, energy and retail. Great Falls has a steady base tied to the air force base. Missoula combines university demand with tight supply, and Helena adds state-government renters.
Bozeman, Belgrade and the Gallatin Valley carry the highest prices, as do Kalispell and Whitefish in the Flathead. In those markets, rents often lag values, so the DSCR can be tight on a rate-and-term refinance even with modest leverage. Rural rentals bring well, septic and road access questions that an appraiser will review.
Montana does not charge a real estate transfer tax, which keeps closing costs down, though title, recording and settlement fees still apply. Property is reappraised statewide on a regular cycle, and recent reappraisals raised many residential bills. Use the current tax bill, not an older one from the listing.
Insurance is where Montana gets specific. Wildfire exposure in the western valleys, hail in Billings and the eastern plains, and heavy snow loads on older roofs can all affect premiums. Get a current quote with the deductible before you apply, and confirm local costs with your agent and title company.
Several Montana cities regulate short-term rentals, including Bozeman and Missoula, with permits and limits that differ by zone and property type. If a property's income depends on nightly guests, check the city or county rules first. Many investors in the Gallatin Valley and Missoula refinance on 12-month leases for that reason, while some resort-area properties may qualify on projected short-term revenue under certain programs. Before you refinance, confirm that any permit is current and transferable to an LLC owner if you are changing how title is held.
This example is illustrative and not a quote. An investor bought a four-bedroom house in the Billings Heights, renovated it with a short-term loan and leased it for $2,350 a month. It appraises at $365,000, the payoff is $255,000, and $6,500 of closing costs are rolled in.
The new loan is $261,500, about 71.6% of value. Estimated principal and interest is $1,784, taxes are $260 and insurance with a hail deductible is $150, for a payment of $2,194. The DSCR is about 1.07x, above the 1.0x minimum but not by much. A lower loan amount or a slightly higher rent would add cushion, and that is the kind of tradeoff we walk through on a call.
| Item | Billings Heights rental |
|---|---|
| Appraised value | $365,000 |
| Payoff of the current loan | $255,000 |
| Closing costs rolled in | $6,500 |
| New DSCR loan amount | $261,500 |
| Loan-to-value | About 71.6% |
| Monthly rent used | $2,350 |
| Estimated principal and interest | $1,784 |
| Property taxes | $260 |
| Insurance | $150 |
| Total monthly payment | $2,194 |
| DSCR | About 1.07x |
Seasoning varies by program. Some programs use the after-repair appraisal once the property is leased, and others look more at your purchase price if you bought recently. Call us a few months before your current loan matures.
Have the payoff letter, the signed lease, the current tax bill, an insurance quote and your LLC documents ready. In rural areas, appraisal scheduling can take longer, so build in time. If you are refinancing more than one property, line them up together so one appraisal delay does not hold up the rest.
Use the same short list with every lender so the answers are easy to compare. Here is how LendingStreet answers. Call (877) 298-1001 to go through yours.
| What to ask | LendingStreet |
|---|---|
| Maximum LTV on a rate-and-term refinance | Up to 80% on some programs; varies by program |
| Minimum DSCR | 1.0x standard; sub-1.0 programs exist |
| Seasoning before the refinance | Varies by program |
| Can an LLC borrow | Yes; LLC borrowers are standard |
| Closing timeline | Driven mostly by the appraisal, title and a complete file |
| Large-balance limits | From $150,000 with no stated maximum; larger balances get more review |
Our top pick is LendingStreet: rent-based qualifying, up to 80% LTV on some rate-and-term programs, LLC borrowing and 30-year terms. Get a quote with the form below.
Yes. We lend statewide, including Billings, Missoula, Bozeman, Great Falls, Helena and the Flathead, and in all 50 states and DC.
No. Montana does not charge a real estate transfer tax, though title and recording costs still apply.
Possibly. Sub-1.0 DSCR programs exist, usually at lower leverage. Call us with the numbers.
Often, yes. The appraiser will look at access, well and septic, and comparable rentals nearby.
If local rules allow it, some programs can use projected short-term revenue. Check city or county rules first.
The minimum is 620. Leverage depends on the full file.
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