59484, Sweet Grass, MT

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. In general, as homeowners pay down their mortgage, their home equity rises. The market value of a home is determined by its location, size, condition, and features.

According to the 2016 American Community Survey 5-Year Estimates, the median home value in Sweet Grass was $161,500. This means that half of all homes in Sweet Grass were worth more than $161,500 and half were worth less than $161,500. The median home value in Sweet Grass increased by 2% from 2015 to 2016.

The average homeowner's monthly mortgage payment is based on their home's current market value and their loan amount. As long as your monthly mortgage payment remains below your total loan amount plus interest and escrow payments (if applicable), your lender will allow you to continue making monthly payments on your house even if it falls below its original market value.

In general, if you sell your house for more than you owe on it (including any money you may have saved from reducing your principal), you will have made a profit on your investment. If you sell your house for less than what you owe on it (including any money you may have saved from reducing your principal), you will have lost money on your investment.

Home prices can vary greatly depending on where in Sweet Grass a house is located and how well it has been maintained or upgraded over time. A well-maintained or upgraded house in an desirable location might sell for several hundred thousand dollars more than an equivalent but poorly maintained or unupgraded house would sell for in the same area.