Bozeman FHA Loans
Bozeman, MT
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Bozeman's 42 lenders originated 197 FHA loans during 2021. The total origination value was $105,425,000, with an average FHA loan value of $535,152.
Bozeman FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Bozeman
averaged
5.35%
for the week of 2022-08-05, compared to the national average (all FHA variants) of
5.305% for the same period.
The average rate for the prior week (2022-07-29) was
5.39% and
one month ago for the week of 2022-07-01, the
average rate was 5.58%.
The average rate one year ago was 2.88%.
For refis of the same type during the week of 2022-08-05, the average rate
was 4.85%.
Bozeman FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bozeman level.
The top Bozeman FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
16 FHA loans originated. Their average total fees are
$9,535, which is $683
lower than the next largest lender,
Opportunity Bank of Montana.
The lowest fee Bozeman FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($6,445), QUICKEN LOANS, LLC ($9,535), Opportunity Bank of Montana ($10,218), CORNERSTONE HOME LENDING, INC. ($11,527) and .
The lowest rate Bozeman FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.66%), Opportunity Bank of Montana (2.88%), LAKEVIEW LOAN SERVICING, LLC (2.89%), CORNERSTONE HOME LENDING, INC. (3.10%) and .
Bozeman FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
BOZEMAN, MT | GALLATIN | 2022 | $603,750 | $772,900 | $934,250 | $1,161,050 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Bozeman (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $489,450 (2.2%) | $874,898 (-3.0%) | 0.00 | 436 |
2018-02-01 | $479,700 (-3.9%) | $832,276 (-8.4%) | 0.00 | 408 |
2018-03-01 | $449,000 (-10.2%) | $780,765 (-11.8%) | 0.00 | 402 |
2018-04-01 | $467,000 (-11.1%) | $768,913 (-16.4%) | 0.00 | 404 |
2018-05-01 | $524,750 (-4.9%) | $785,412 (-14.7%) | 0.00 | 439 |
2018-06-01 | $529,900 (-3.6%) | $783,440 (-10.2%) | 0.00 | 520 |
2018-07-01 | $499,450 (-7.3%) | $751,948 (-15.4%) | 0.00 | 611 |
2018-08-01 | $487,000 (-5.8%) | $741,289 (-14.6%) | 0.00 | 637 |
2018-09-01 | $464,900 (-12.3%) | $728,199 (-17.4%) | 0.00 | 640 |
2018-10-01 | $449,725 (-18.2%) | $703,137 (-21.7%) | 0.00 | 641 |
2018-11-01 | $451,400 (-11.8%) | $730,747 (-16.5%) | 0.00 | 583 |
2018-12-01 | $449,900 (-10.0%) | $753,095 (-15.1%) | 0.00 | 544 |
2019-01-01 | $461,500 (-5.7%) | $773,891 (-11.5%) | 0.00 | 486 |
2019-02-01 | $474,000 (-1.2%) | $774,133 (-7.0%) | 0.00 | 450 |
2019-03-01 | $493,586 (9.9%) | $774,035 (-0.9%) | 0.00 | 433 |
2019-04-01 | $497,886 (6.6%) | $772,649 (0.5%) | 0.00 | 436 |
2019-05-01 | $524,900 (0.0%) | $773,539 (-1.5%) | 0.00 | 487 |
2019-06-01 | $540,000 (1.9%) | $822,220 (5.0%) | 0.00 | 553 |
2019-07-01 | $549,450 (10.0%) | $862,798 (14.7%) | 0.00 | 611 |
2019-08-01 | $533,714 (9.6%) | $856,692 (15.6%) | 0.00 | 634 |
2019-09-01 | $516,714 (11.2%) | $850,045 (16.7%) | 0.00 | 649 |
2019-10-01 | $525,000 (16.7%) | $857,119 (21.9%) | 0.00 | 666 |
2019-11-01 | $499,000 (10.5%) | $850,655 (16.4%) | 0.00 | 610 |
2019-12-01 | $481,900 (7.1%) | $861,974 (14.5%) | 0.00 | 527 |
2020-01-01 | $467,500 (1.3%) | $902,807 (16.7%) | 0.00 | 482 |
2020-02-01 | $529,000 (11.6%) | $966,745 (24.9%) | 0.00 | 448 |
2020-03-01 | $532,000 (7.8%) | $935,951 (20.9%) | 0.00 | 459 |
2020-04-01 | $497,500 (-0.1%) | $906,255 (17.3%) | 0.00 | 515 |
2020-05-01 | $519,000 (-1.1%) | $956,404 (23.6%) | 0.00 | 541 |
2020-06-01 | $612,375 (13.4%) | $1,090,335 (32.6%) | 0.00 | 501 |
2020-07-01 | $682,400 (24.2%) | $1,194,590 (38.5%) | 0.00 | 412 |
2020-08-01 | $749,000 (40.3%) | $1,277,665 (49.1%) | 0.00 | 350 |
2020-09-01 | $795,000 (53.9%) | $1,459,809 (71.7%) | 0.00 | 264 |
2020-10-01 | $795,000 (51.4%) | $1,512,215 (76.4%) | 0.00 | 234 |
2020-11-01 | $901,000 (80.6%) | $1,715,103 (101.6%) | 0.00 | 184 |
2020-12-01 | $981,000 (103.6%) | $1,904,545 (121.0%) | 0.00 | 162 |
2021-01-01 | $1,125,000 (140.6%) | $2,077,262 (130.1%) | 0.00 | 141 |
2021-02-01 | $1,043,500 (97.3%) | $1,948,533 (101.6%) | 0.00 | 135 |
2021-03-01 | $833,450 (56.7%) | $1,619,251 (73.0%) | 0.00 | 133 |
2021-04-01 | $750,000 (50.8%) | $1,536,876 (69.6%) | 0.00 | 130 |
2021-05-01 | $899,000 (73.2%) | $1,652,052 (72.7%) | 0.00 | 154 |
2021-06-01 | $849,000 (38.6%) | $1,534,028 (40.7%) | 0.00 | 222 |
2021-07-01 | $862,400 (26.4%) | $1,595,487 (33.6%) | 0.00 | 266 |
2021-08-01 | $795,000 (6.1%) | $1,572,806 (23.1%) | 0.00 | 301 |
2021-09-01 | $791,615 (-0.4%) | $1,627,628 (11.5%) | 0.00 | 294 |
2021-10-01 | $831,435 (4.6%) | $1,682,835 (11.3%) | 0.00 | 247 |
2021-11-01 | $849,500 (-5.7%) | $1,940,633 (13.2%) | 0.00 | 186 |
2021-12-01 | $974,950 (-0.6%) | $2,143,285 (12.5%) | 0.00 | 148 |
2022-01-01 | $1,275,000 (13.3%) | $2,491,956 (20.0%) | 0.00 | 117 |
2022-02-01 | $1,232,500 (18.1%) | $2,374,115 (21.8%) | 0.00 | 125 |
2022-03-01 | $999,900 (20.0%) | $2,098,667 (29.6%) | 0.00 | 137 |
2022-04-01 | $1,099,000 (46.5%) | $1,943,487 (26.5%) | 0.00 | 183 |
2022-05-01 | $879,000 (-2.2%) | $1,598,250 (-3.3%) | 0.00 | 262 |
2022-06-01 | $874,250 (3.0%) | $1,524,625 (-0.6%) | 0.00 | 367 |
Bozeman's median listing price comes in at 0% of the national average.
Bozeman's average listing price for 2022-06-01 was $1,524,625, a difference of $-9,403 (-0.6%) versus the prior year and $-73,625 versus the prior month.
For the 2022-06-01 period, Bozeman had 367 MLS listings, a difference of 105 listings (40%) versus the prior month and 145 listings (65%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Bozeman (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,364 sqft |
2018-02-01 | 0 days | 2,308 sqft |
2018-03-01 | 0 days | 2,280 sqft |
2018-04-01 | 0 days | 2,329 sqft |
2018-05-01 | 0 days | 2,400 sqft |
2018-06-01 | 0 days | 2,520 sqft |
2018-07-01 | 0 days | 2,525 sqft |
2018-08-01 | 0 days | 2,400 sqft |
2018-09-01 | 0 days | 2,280 sqft |
2018-10-01 | 0 days | 2,200 sqft |
2018-11-01 | 0 days | 2,271 sqft |
2018-12-01 | 0 days | 2,280 sqft |
2019-01-01 | 0 days | 2,274 sqft |
2019-02-01 | 0 days | 2,290 sqft |
2019-03-01 | 0 days | 2,294 sqft |
2019-04-01 | 0 days | 2,297 sqft |
2019-05-01 | 0 days | 2,273 sqft |
2019-06-01 | 0 days | 2,312 sqft |
2019-07-01 | 0 days | 2,332 sqft |
2019-08-01 | 0 days | 2,287 sqft |
2019-09-01 | 0 days | 2,223 sqft |
2019-10-01 | 0 days | 2,203 sqft |
2019-11-01 | 0 days | 2,152 sqft |
2019-12-01 | 0 days | 2,150 sqft |
2020-01-01 | 0 days | 2,099 sqft |
2020-02-01 | 0 days | 2,153 sqft |
2020-03-01 | 0 days | 2,166 sqft |
2020-04-01 | 0 days | 2,086 sqft |
2020-05-01 | 0 days | 2,120 sqft |
2020-06-01 | 0 days | 2,294 sqft |
2020-07-01 | 0 days | 2,413 sqft |
2020-08-01 | 0 days | 2,548 sqft |
2020-09-01 | 0 days | 2,584 sqft |
2020-10-01 | 0 days | 2,597 sqft |
2020-11-01 | 0 days | 2,558 sqft |
2020-12-01 | 0 days | 2,609 sqft |
2021-01-01 | 0 days | 2,743 sqft |
2021-02-01 | 0 days | 2,735 sqft |
2021-03-01 | 0 days | 2,606 sqft |
2021-04-01 | 0 days | 2,478 sqft |
2021-05-01 | 0 days | 2,640 sqft |
2021-06-01 | 0 days | 2,483 sqft |
2021-07-01 | 0 days | 2,393 sqft |
2021-08-01 | 0 days | 2,299 sqft |
2021-09-01 | 0 days | 2,284 sqft |
2021-10-01 | 0 days | 2,304 sqft |
2021-11-01 | 0 days | 2,452 sqft |
2021-12-01 | 0 days | 2,569 sqft |
2022-01-01 | 0 days | 2,719 sqft |
2022-02-01 | 0 days | 2,599 sqft |
2022-03-01 | 0 days | 2,464 sqft |
2022-04-01 | 0 days | 2,206 sqft |
2022-05-01 | 0 days | 2,271 sqft |
2022-06-01 | 0 days | 2,244 sqft |
Bozeman's median square footage for active listings during the 2022-06-01 period was 2,244 sqft. One year prior, the average listing was 2,483 sqft.