Bozeman FHA Loan Rates, Closing Costs & Stats
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
6.23%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Bozeman's average FHA mortgage closing costs are $9,259.
The average rate for the prior week (2023-01-20) was
6.2% and
one month ago for the week of 2022-12-23, the
average rate was 6.4%.
The average rate one year ago was 3.69%.
For refis of the same type during the week of 2023-01-27, the average rate
was 6.13%.
Bozeman FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs 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 | $580,450 (-0.5%) | $1,050,813 (-8.1%) | 0.00 | 616 |
2018-02-01 | $597,475 (0.9%) | $1,029,678 (-10.7%) | 0.00 | 598 |
2018-03-01 | $612,500 (9.7%) | $1,006,336 (-9.7%) | 0.00 | 569 |
2018-04-01 | $597,000 (-0.3%) | $961,326 (-15.7%) | 0.00 | 554 |
2018-05-01 | $591,925 (-5.6%) | $958,986 (-12.1%) | 0.00 | 573 |
2018-06-01 | $595,000 (0.5%) | $972,574 (-5.0%) | 0.00 | 663 |
2018-07-01 | $554,500 (-6.8%) | $933,980 (-10.9%) | 0.00 | 741 |
2018-08-01 | $534,450 (-6.9%) | $906,710 (-11.4%) | 0.00 | 755 |
2018-09-01 | $499,000 (-16.1%) | $886,277 (-15.1%) | 0.00 | 759 |
2018-10-01 | $485,500 (-19.1%) | $876,829 (-17.6%) | 0.00 | 744 |
2018-11-01 | $492,450 (-13.0%) | $918,089 (-11.5%) | 0.00 | 682 |
2018-12-01 | $499,900 (-13.1%) | $959,959 (-7.4%) | 0.00 | 654 |
2019-01-01 | $549,250 (-5.4%) | $1,069,816 (1.8%) | 0.00 | 597 |
2019-02-01 | $571,350 (-4.4%) | $1,085,527 (5.4%) | 0.00 | 561 |
2019-03-01 | $587,243 (-4.1%) | $1,097,400 (9.1%) | 0.00 | 557 |
2019-04-01 | $602,693 (1.0%) | $1,099,632 (14.4%) | 0.00 | 561 |
2019-05-01 | $599,450 (1.3%) | $1,054,601 (10.0%) | 0.00 | 593 |
2019-06-01 | $599,950 (0.8%) | $1,046,135 (7.6%) | 0.00 | 662 |
2019-07-01 | $607,363 (9.5%) | $1,063,479 (13.9%) | 0.00 | 729 |
2019-08-01 | $635,691 (18.9%) | $1,082,346 (19.4%) | 0.00 | 764 |
2019-09-01 | $615,052 (23.3%) | $1,076,289 (21.4%) | 0.00 | 781 |
2019-10-01 | $599,450 (23.5%) | $1,079,393 (23.1%) | 0.00 | 789 |
2019-11-01 | $599,000 (21.6%) | $1,103,537 (20.2%) | 0.00 | 732 |
2019-12-01 | $592,450 (18.5%) | $1,131,483 (17.9%) | 0.00 | 682 |
2020-01-01 | $607,450 (10.6%) | $1,220,964 (14.1%) | 0.00 | 628 |
2020-02-01 | $669,700 (17.2%) | $1,270,150 (17.0%) | 0.00 | 583 |
2020-03-01 | $643,225 (9.5%) | $1,229,442 (12.0%) | 0.00 | 588 |
2020-04-01 | $604,000 (0.2%) | $1,200,537 (9.2%) | 0.00 | 660 |
2020-05-01 | $619,000 (3.3%) | $1,221,338 (15.8%) | 0.00 | 691 |
2020-06-01 | $727,000 (21.2%) | $1,331,907 (27.3%) | 0.00 | 665 |
2020-07-01 | $777,000 (27.9%) | $1,416,029 (33.2%) | 0.00 | 580 |
2020-08-01 | $819,900 (29.0%) | $1,481,117 (36.8%) | 0.00 | 495 |
2020-09-01 | $959,500 (56.0%) | $1,685,507 (56.6%) | 0.00 | 373 |
2020-10-01 | $954,750 (59.3%) | $1,741,304 (61.3%) | 0.00 | 319 |
2020-11-01 | $1,120,663 (87.1%) | $1,934,802 (75.3%) | 0.00 | 263 |
2020-12-01 | $1,188,250 (100.6%) | $2,039,610 (80.3%) | 0.00 | 252 |
2021-01-01 | $1,300,000 (114.0%) | $2,237,352 (83.2%) | 0.00 | 219 |
2021-02-01 | $1,296,250 (93.6%) | $2,334,842 (83.8%) | 0.00 | 202 |
2021-03-01 | $1,053,750 (63.8%) | $2,158,491 (75.6%) | 0.00 | 185 |
2021-04-01 | $949,750 (57.2%) | $2,052,542 (71.0%) | 0.00 | 183 |
2021-05-01 | $1,099,000 (77.5%) | $2,067,993 (69.3%) | 0.00 | 206 |
2021-06-01 | $964,975 (32.7%) | $1,880,699 (41.2%) | 0.00 | 280 |
2021-07-01 | $949,950 (22.3%) | $1,883,053 (33.0%) | 0.00 | 317 |
2021-08-01 | $860,000 (4.9%) | $1,799,526 (21.5%) | 0.00 | 341 |
2021-09-01 | $872,250 (-9.1%) | $2,044,492 (21.3%) | 0.00 | 334 |
2021-10-01 | $950,000 (-0.5%) | $2,121,536 (21.8%) | 0.00 | 281 |
2021-11-01 | $1,288,500 (15.0%) | $2,734,004 (41.3%) | 0.00 | 225 |
2021-12-01 | $1,516,250 (27.6%) | $2,994,937 (46.8%) | 0.00 | 181 |
2022-01-01 | $1,849,950 (42.3%) | $3,312,909 (48.1%) | 0.00 | 152 |
2022-02-01 | $1,405,250 (8.4%) | $2,972,632 (27.3%) | 0.00 | 169 |
2022-03-01 | $1,406,000 (33.4%) | $2,648,816 (22.7%) | 0.00 | 186 |
2022-04-01 | $1,297,000 (36.6%) | $2,233,404 (8.8%) | 0.00 | 242 |
2022-05-01 | $1,046,950 (-4.7%) | $1,972,334 (-4.6%) | 0.00 | 337 |
2022-06-01 | $989,000 (2.5%) | $1,858,815 (-1.2%) | 0.00 | 456 |
2022-07-01 | $999,997 (5.3%) | $1,854,733 (-1.5%) | 0.00 | 597 |
2022-08-01 | $999,750 (16.3%) | $1,827,745 (1.6%) | 0.00 | 668 |
2022-09-01 | $998,875 (14.5%) | $1,849,016 (-9.6%) | 0.00 | 648 |
2022-10-01 | $979,900 (3.2%) | $1,813,553 (-14.5%) | 0.00 | 628 |
2022-11-01 | $975,000 (-24.3%) | $1,874,646 (-31.4%) | 0.00 | 577 |
2022-12-01 | $992,500 (-34.5%) | $1,923,757 (-35.8%) | 0.00 | 525 |
Bozeman's median listing price comes in at 0% of the national average.
Bozeman's average listing price for 2022-12-01 was $1,923,757, a difference of $-1,071,180 (-35.8%) versus the prior year and $49,111 versus the prior month.
For the 2022-12-01 period, Bozeman had 525 MLS listings, a difference of -52 listings (-9%) versus the prior month and 344 listings (190%) 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 | 2,353 sqft |
2018-02-01 | 0 days | 2,305 sqft |
2018-03-01 | 0 days | 2,349 sqft |
2018-04-01 | 0 days | 2,355 sqft |
2018-05-01 | 0 days | 2,405 sqft |
2018-06-01 | 0 days | 2,520 sqft |
2018-07-01 | 0 days | 2,541 sqft |
2018-08-01 | 0 days | 2,436 sqft |
2018-09-01 | 0 days | 2,310 sqft |
2018-10-01 | 0 days | 2,238 sqft |
2018-11-01 | 0 days | 2,290 sqft |
2018-12-01 | 0 days | 2,311 sqft |
2019-01-01 | 0 days | 2,316 sqft |
2019-02-01 | 0 days | 2,337 sqft |
2019-03-01 | 0 days | 2,360 sqft |
2019-04-01 | 0 days | 2,390 sqft |
2019-05-01 | 0 days | 2,346 sqft |
2019-06-01 | 0 days | 2,379 sqft |
2019-07-01 | 0 days | 2,382 sqft |
2019-08-01 | 0 days | 2,386 sqft |
2019-09-01 | 0 days | 2,334 sqft |
2019-10-01 | 0 days | 2,301 sqft |
2019-11-01 | 0 days | 2,285 sqft |
2019-12-01 | 0 days | 2,245 sqft |
2020-01-01 | 0 days | 2,236 sqft |
2020-02-01 | 0 days | 2,256 sqft |
2020-03-01 | 0 days | 2,255 sqft |
2020-04-01 | 0 days | 2,208 sqft |
2020-05-01 | 0 days | 2,237 sqft |
2020-06-01 | 0 days | 2,354 sqft |
2020-07-01 | 0 days | 2,433 sqft |
2020-08-01 | 0 days | 2,478 sqft |
2020-09-01 | 0 days | 2,526 sqft |
2020-10-01 | 0 days | 2,539 sqft |
2020-11-01 | 0 days | 2,540 sqft |
2020-12-01 | 0 days | 2,503 sqft |
2021-01-01 | 0 days | 2,586 sqft |
2021-02-01 | 0 days | 2,705 sqft |
2021-03-01 | 0 days | 2,735 sqft |
2021-04-01 | 0 days | 2,695 sqft |
2021-05-01 | 0 days | 2,773 sqft |
2021-06-01 | 0 days | 2,591 sqft |
2021-07-01 | 0 days | 2,525 sqft |
2021-08-01 | 0 days | 2,370 sqft |
2021-09-01 | 0 days | 2,381 sqft |
2021-10-01 | 0 days | 2,428 sqft |
2021-11-01 | 0 days | 2,861 sqft |
2021-12-01 | 0 days | 2,998 sqft |
2022-01-01 | 0 days | 3,087 sqft |
2022-02-01 | 0 days | 2,567 sqft |
2022-03-01 | 0 days | 2,429 sqft |
2022-04-01 | 0 days | 2,139 sqft |
2022-05-01 | 0 days | 2,243 sqft |
2022-06-01 | 0 days | 2,226 sqft |
2022-07-01 | 0 days | 2,301 sqft |
2022-08-01 | 0 days | 2,272 sqft |
2022-09-01 | 0 days | 2,343 sqft |
2022-10-01 | 0 days | 2,376 sqft |
2022-11-01 | 0 days | 2,350 sqft |
2022-12-01 | 0 days | 2,392 sqft |
Bozeman's median square footage for active listings during the 2022-12-01 period was 2,392 sqft. One year prior, the average listing was 2,998 sqft.