Montana Federal Credit Union Mortgage Rates, Fees & Info

Great Falls, MT

LEI: 549300WP41C3FFSKY830

Tax ID: 81-0232919

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Montana Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Montana Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Great Falls, Butte, Wilmington, Helena, and Billings among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Montana Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Montana Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.78% 5/20/24
    30 Year Conventional Refi 6.27% 5/20/24
    30 Year Cash-out Refi 6.76% 5/20/24
    30 Year VA Purchase 5.89% 5/20/24
    30 Year USDA Purchase 6.74% 5/20/24
    15 Year Conventional Purchase 3.86% 5/20/24
    15 Year Conventional Refi 5.83% 5/20/24
    15 Year Cash-out Refi 5.83% 5/20/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Montana Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Montana Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    125

    Origination Dollar Volume (All Markets)

    $12,505,000

    Awards

    Montana Federal Credit Union FHA Loans silver Montana Federal Credit Union 30 Year Conventional Loans gold Montana Federal Credit Union FHA Loans gold Montana Federal Credit Union FHA Loans gold
    Show all (4) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    GREAT FALLS, MT (FHA|USDA|VA) 112 $10,890,000 $97,232 $2,662 4.38%
    Outside of Metro Areas 7 $965,000 $137,857 $4,977 4.45%
    Butte-Silver Bow, MT (FHA|USDA|VA) 2 $220,000 $110,000 $3,808 3.94%
    WILMINGTON, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,459 4.25%
    Helena, MT (FHA|USDA|VA) 2 $150,000 $75,000 $2,374 5.00%
    BILLINGS, MT (FHA|USDA|VA) 1 $65,000 $65,000 $1,489 5.00%
    Montana Federal Credit Union's top markets include Great Falls, Butte, Wilmington, Helena, and Billings among others.

    Their top states include:
  • Montana (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Montana Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Montana Federal Credit Union
    Similarity Rank: 72
    Stockman Bank of Montana
    Similarity Rank: 425
    First Interstate Bank
    Similarity Rank: 816
    Opportunity Bank of Montana
    Similarity Rank: 1222
    CLEARPATH LENDING
    Similarity Rank: 1365
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 2139
    MANN FINANCIAL INC.
    Similarity Rank: 5152
    Wells Fargo Bank
    Similarity Rank: 5538
    U.S. Bank
    Similarity Rank: 5831
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 8019

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $8,130,000 $84,688 $1,925 4.57%
    FHA 13 $1,985,000 $152,692 $5,739 3.67%
    VA 11 $1,915,000 $174,091 $6,097 3.65%
    USDA 3 $405,000 $135,000 $5,506 3.83%
    HELOC 2 $70,000 $35,000 n/a 5.50%

    For 2019, Montana Federal Credit Union's most frequently originated type of loan was Conventional, with 96 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 72 $5,220,000 $72,500 $1,663 4.63%
    Home Purchase 42 $6,510,000 $155,000 $5,102 3.92%
    Refi 6 $620,000 $103,333 $2,440 4.56%
    Home Improvement 3 $125,000 $41,667 $757 4.75%
    Other 2 $30,000 $15,000 $536 4.38%

    For 2019, Montana Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 72 originations. The 2nd most popular reason was Home Purchase, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 45 $7,385,000 $164,111 $5,302 3.88%
    15 Year 36 $2,760,000 $76,667 $1,534 4.84%
    Other 30 $1,370,000 $45,667 $1,072 4.55%
    10 Year 9 $735,000 $81,667 $1,050 4.39%
    5 Year 3 $45,000 $15,000 $551 5.50%
    20 Year 2 $210,000 $105,000 $3,816 3.88%

    For 2019, Montana Federal Credit Union's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was 15 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 86 $6,460,000 $75,116
    $2k-3k 19 $3,185,000 $167,632
    $1k-2k 14 $1,730,000 $123,571
    $3k-4k 3 $725,000 $241,667
    $4k-5k 1 $335,000 $335,000

    Montana Federal Credit Union's average total fees were $5,302, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 76 $5,910,000 $77,763
    3-4% 37 $6,015,000 $162,568
    5-6% 11 $555,000 $50,455
    6-7% 1 $25,000 $25,000

    During 2019, Montana Federal Credit Union's average interest rate for loans was 3.88%, while their most frequently originated rate bucket for loans was 4-5%, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $3,520,000 $48,889 $1,306 4.69%
    $100k-200k 40 $5,870,000 $146,750 $4,484 3.97%
    $200k-400k 13 $3,115,000 $239,615 $5,507 4.02%

    2019 saw Montana Federal Credit Union place emphasis on $100,000 or less loans with 72 originations, totaling $3,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 41 $4,145,000 $101,098 $3,044 4.28%
    $50k-75k 37 $3,755,000 $101,486 $3,215 4.40%
    $75k-100k 24 $2,330,000 $97,083 $2,497 4.35%
    $100k-150k 14 $1,190,000 $85,000 $1,945 4.68%
    $150k-250k 6 $530,000 $88,333 $2,050 4.52%
    $250k+ 3 $555,000 $185,000 $2,249 4.46%

    Montana Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $50k-75k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $2,760,000 $106,154 $3,141 4.37%
    20-30% 21 $1,515,000 $72,143 $2,061 4.55%
    <20% 16 $1,170,000 $73,125 $1,952 4.58%
    40% 8 $850,000 $106,250 $3,331 4.38%
    42% 6 $720,000 $120,000 $3,912 3.98%
    36% 6 $540,000 $90,000 $3,183 3.86%
    46% 6 $750,000 $125,000 $3,348 4.05%
    50-60% 6 $890,000 $148,333 $4,104 4.23%
    43% 5 $355,000 $71,000 $1,488 4.45%
    38% 5 $505,000 $101,000 $2,789 4.58%
    41% 4 $510,000 $127,500 $3,032 4.22%
    45% 4 $440,000 $110,000 $3,272 4.34%
    48% 2 $200,000 $100,000 $2,231 5.00%
    >60% 2 $350,000 $175,000 $2,186 4.19%
    49% 2 $170,000 $85,000 $2,340 4.94%
    44% 2 $70,000 $35,000 $1,127 4.88%
    39% 1 $175,000 $175,000 $4,677 4.50%
    47% 1 $305,000 $305,000 $2,318 4.13%
    37% 1 $165,000 $165,000 $6,215 3.63%

    Montana Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 118 $11,680,000 $98,983 $2,745 4.40%
    American Indian 2 $270,000 $135,000 $3,372 4.25%
    Asian 2 $260,000 $130,000 $4,574 3.88%
    Not provided 2 $200,000 $100,000 $4,010 4.38%
    Black 1 $95,000 $95,000 $1,487 4.75%

    Approval Rates

    Total approvals of all applications
    84.49%

    Montana Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.60%

    Montana Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 125 $12,505,000 $100,040

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 123 $12,335,000 $100,285

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $1,520,000 $54,286 $1,116 4.79%
    40-60% 12 $1,410,000 $117,500 $1,945 4.61%
    60-80% 16 $1,900,000 $118,750 $3,426 4.41%
    80-100% 41 $6,745,000 $164,512 $5,170 3.90%
    Under 20% 28 $930,000 $33,214 $820 4.60%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%