MT Market
Bridge, Flip & Construction
Loans in Montana
Bridge, fix & flip, construction, renovation and DSCR loans for investors buying in Montana, from the US or abroad, on the same terms. $1M to $5M. Foreign nationals welcome.
Montana is a smaller residential market with a few towns at high price points: Bozeman and the Gallatin Valley, Big Sky, and Whitefish in the Flathead Valley. Passy Capital finances real estate investors who buy, renovate and build residential investment property there and across the state: bridge loans, fix & flip loans and ground-up construction loans from $1M to $5M, with renovation and DSCR financing for the hold.
We lend to local builders and operators and to investors buying from abroad on the same terms. A non-US investor borrows through a US LLC with no US credit history and no Social Security number required, and the loan is underwritten on the property and the plan.
Term sheets go out in 24-48 hours and a clean file closes in about two weeks. Leverage runs up to 90% of cost on fix & flip and renovation, up to 85% of cost on ground-up construction, and up to 80% of value on bridge and DSCR loans. Business-purpose lending only, on non-owner-occupied property. Larger commercial deals are placed through our capital-partner network.
Montana Market Highlights
High Price Points, Few Comps
Bozeman, Big Sky and Whitefish carry high values per property, and in a small market the comparable sales behind an appraisal are few. We size each deal on the comps that exist.
Spec and Renovation
Spec homes, renovations of older housing stock and small multifamily are the typical investor deals in the Gallatin and Flathead valleys.
Non-Judicial Foreclosure
Trust indentures with a power of sale on property up to 40 acres, with at least 120 days' notice before a trustee's sale (MCA 71-1-315).
Confidential Sale Prices
Realty Transfer Certificates are not public record, so appraisers rely on MLS data.
No Transfer Tax
The Montana Constitution prohibits any tax on the sale or transfer of real property.
Use-Based Property Tax
From 2026, long-term rentals can qualify for reduced graduated rates, while second homes and short-term rentals are assessed at the top residential rate.
Cities We Serve
Bozeman
Belgrade
Big Sky
Livingston
Whitefish
Kalispell
Columbia Falls
Missoula
Billings
Helena
Property Types We Finance
Single-Family
2-4 Units
Condos & Townhomes
Small Multifamily (5-9)
Spec Homes
Build-to-Rent
SFR Portfolios
Renovation Projects
Loan Programs
Bridge Loans
Buy, refinance or cash out an investment property, closing in about two weeks.
Construction
Ground-up spec homes and build-to-rent, with draws tied to milestones.
Renovation / Rehab
Rehab financing on 1-4 unit and small multifamily, drawn against completed work.
Fix & Flip
Purchase and rehab in one loan for 1-4 unit flips, closing in about two weeks.
DSCR / Rental
Long-term rental financing based on property cash flow.
Other US Markets
We finance investment property for US and foreign investors in other markets too.
FL
Florida →
No-tax growth market, Miami, Orlando, Tampa
TX
Texas →
Population boom, Dallas, Houston, Austin
CA
California →
Spec builds and flips, Los Angeles, Bay Area, San Diego
NY
New York →
1-4 unit and small multifamily, NYC, Brooklyn, Long Island
AZ
Arizona →
Flips and build-to-rent, Phoenix, Scottsdale, Tucson
GA
Georgia →
Flips and spec builds, Atlanta metro
TN
Tennessee →
Build-to-rent and rentals, Nashville, Memphis
NC
North Carolina →
Spec builds and flips, Charlotte, Raleigh
CO
Colorado →
Flips, infill and rentals, Denver metro
IL
Illinois →
Two-flats, flips and rentals, Chicago
OH
Ohio →
Flips and buy-and-hold, Columbus
WA
Washington →
Infill and middle housing, Seattle
VA
Virginia →
Flips and rentals, Richmond
SC
South Carolina →
Flips and coastal rentals, Charleston
NJ
New Jersey →
Flips and small multifamily, Jersey City, Newark
PA
Pennsylvania →
Rehabs and flips, Philadelphia, Pittsburgh
MO
Missouri →
Flips and rentals, St. Louis, Kansas City
Have a deal in Montana?
Submit your deal in 2 minutes. We'll review it and get back to you within 24 hours with financing options.
Submit a DealWhat is specific about lending in Montana
- Trust indentures and non-judicial foreclosure. Under the Small Tract Financing Act, property of up to 40 acres can secure a loan through a trust indenture with a power of sale (MCA 71-1-304). The trustee records and mails a notice of sale at least 120 days before the sale (MCA 71-1-315), so enforcement runs outside the courts on a known timetable. Town lots, subdivision lots and most residential parcels fall well inside that limit.
- Sale prices are confidential. Montana sale prices are reported to the Department of Revenue on a Realty Transfer Certificate, which by law is not a public record. Appraisers work from MLS data, and in thin resort and mountain-town markets the number of close comparable sales can be small. Sending the comparable sales you relied on with the deal saves time on the as-is value and on the after-repair value of a flip.
- No transfer tax, by constitution. Article VIII, section 17 of the Montana Constitution, adopted by voters in 2010, prohibits the state and local governments from taxing the sale or transfer of real property. Closing costs are title, recording, lender fees and prepaid items.
- Property tax depends on how the property is used. From tax year 2026, Montana taxes residential property at graduated rates for principal residences and for long-term rentals, defined as a residence rented for periods of 28 days or more for at least seven months of the year. Owners, entities included, apply to the Department of Revenue for the long-term rental rate. Second homes, short-term rentals and other residential property are assessed at the top residential tax rate (1.90% of market value, to which local mill levies then apply). We underwrite the tax at the rate the property will actually carry.
- Resort tax in resort communities. Montana has no general sales tax, but designated resort communities, including Big Sky and Whitefish, levy a local resort tax on lodging, restaurants and other goods and services. It matters to anyone planning short-term rental income in those towns.
Buying in Montana from outside the US:
Frequently asked questions
What do you finance in Montana?
Bridge loans, fix & flip loans and ground-up construction loans for spec homes and build-to-rent, plus renovation loans and DSCR loans as the hold or exit. Property types are single-family, 2-4 units, condos and townhomes, small multifamily up to 9 units, build-to-rent and SFR portfolios. Loans run from $1M to $5M, business-purpose only, on non-owner-occupied property.
Which Montana markets do you lend in?
Montana is a smaller market than Texas or Florida, and most investor activity at our loan sizes sits in a few towns with higher price points: Bozeman and the Gallatin Valley, Big Sky, and Whitefish and the Flathead Valley, with Missoula and Billings as the larger in-state metros. We look at deals anywhere in the state where the property, the comparable sales and the exit support the loan.
How much leverage is available on a Montana flip or spec build?
Up to 90% of cost on fix & flip and renovation, up to 85% of cost on ground-up construction, up to 80% of value on a bridge loan and up to 80% of value on a DSCR loan. The fee is 1-2% of the loan, paid at closing, with no upfront fees.
Can a foreign national finance Montana investment property?
Yes. The loan is made to your US LLC and underwritten on the property and the business plan, not on a US credit history, so a non-resident borrows on the same terms as a US investor. No Social Security number is required. If the property will be a long-term rental, the LLC can apply for Montana's long-term rental property tax rate like any other owner.
Is Montana a judicial or non-judicial foreclosure state?
For property of up to 40 acres secured by a trust indenture, foreclosure is non-judicial under the Small Tract Financing Act, with a notice of sale recorded and mailed at least 120 days before the trustee's sale (MCA 71-1-304 and 71-1-315).
How fast can you close in Montana?
Term sheets go out in 24-48 hours, and a clean file closes in about two weeks. Because sale prices are not public in Montana, a file that arrives with its comparable sales moves faster through appraisal.
Montana City Guides
Bridge, fix & flip and construction financing in Montana markets.