Bozeman FHA Loan Rates, Closing Costs & Stats

Bozeman, MT

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 34 lenders originated 131 FHA loans during 2023. The total origination value was $55,135,000, with an average FHA loan value of $420,878.

    Bozeman FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bozeman averaged 6.35% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Bozeman's average FHA mortgage closing costs are $10,885.

    The average rate for the prior week (2025-02-07) was 6.36% and one month ago for the week of 2025-01-10, the average rate was 6.52%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.62%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Stockman Bank of Montana 18 6.08% $17,678
    Opportunity Bank of Montana 17 5.96% $15,898
    QUICKEN LOANS, LLC 11 6.09% $22,083
    UNITED WHOLESALE MORTGAGE, LLC 7 6.18% $18,451
    CORNERSTONE HOME LENDING, INC. 6 5.67% $18,187
    GUARANTEED RATE, INC. 6 6.38% $15,826
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.45% $20,762
    MUTUAL OF OMAHA MORTGAGE, INC. 4 5.84% $17,412
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.53% $16,620
    PENNYMAC LOAN SERVICES, LLC 3 6.42% $14,775
    CALCON MUTUAL MORTGAGE LLC 3 6.29% $21,048
    LOANDEPOT.COM, LLC 2 5.81% $17,501
    Flagstar Bank, FSB 2 6.19% $19,516
    MANN FINANCIAL INC. 2 5.69% $16,525
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.19% $21,969
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $13,094
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $23,739
    MOVEMENT MORTGAGE, LLC 1 6.13% $13,254
    NEWREZ LLC 1 6.25% $23,714
    CHERRY CREEK MORTGAGE, LLC 1 7.13% $6,569
    PLAZA HOME MORTGAGE, INC. 1 7.50% $11,616
    Century Mortgage Company DBA Century Lending Company 1 6.13% $13,892
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.99% $23,432
    AXIA FINANCIAL, LLC 1 6.50% $11,787
    CRESCENT MORTGAGE COMPANY 1 6.50% $22,139
    VERITAS FUNDING, LLC 1 6.25% $21,076
    EVERETT FINANCIAL, INC. 1 7.88% $15,120
    First Interstate Bank 1 5.75% $13,284
    Flanagan State Bank 1 6.75% $13,695
    FREEDOM MORTGAGE CORPORATION 1 7.25% $34,490
    Glacier Bank 1 7.25% $15,838
    GoPrime Mortgage, Inc. 1 6.63% $13,113
    CMG MORTGAGE, INC. 1 8.25% $21,335
    GUILD MORTGAGE COMPANY 1 7.50% $14,951

    The top Bozeman FHA lender as defined by loan originations is Stockman Bank of Montana, with 18 FHA loans originated. Their average total fees are $17,678, which is $1,780 higher than the next largest lender, Opportunity Bank of Montana.

    The lowest fee Bozeman FHA lenders (with over 10 loans originated) are Opportunity Bank of Montana ($15,898), Stockman Bank of Montana ($17,678), QUICKEN LOANS, LLC ($22,083), .

    The lowest rate Bozeman FHA lenders (with over 10 loans originated) are Opportunity Bank of Montana (5.96%), Stockman Bank of Montana (6.08%), QUICKEN LOANS, LLC (6.09%), .

    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
    BOZEMAN, MT GALLATIN 2023 $703,800 $901,000 $1,089,100 $1,353,500

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bozeman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $587,500 (0.4%) $1,054,839 (-8.2%) 0.00 612
    2018-02-01 $609,000 (1.7%) $1,038,078 (-10.9%) 0.00 592
    2018-03-01 $625,000 (10.6%) $1,011,082 (-10.1%) 0.00 564
    2018-04-01 $598,000 (-0.2%) $967,599 (-15.8%) 0.00 551
    2018-05-01 $597,225 (-5.1%) $965,821 (-12.0%) 0.00 567
    2018-06-01 $599,000 (0.4%) $984,949 (-4.3%) 0.00 651
    2018-07-01 $561,500 (-5.6%) $943,222 (-10.4%) 0.00 729
    2018-08-01 $544,000 (-6.2%) $918,180 (-10.9%) 0.00 739
    2018-09-01 $499,000 (-16.4%) $898,572 (-14.4%) 0.00 740
    2018-10-01 $489,925 (-18.4%) $889,183 (-16.9%) 0.00 725
    2018-11-01 $497,125 (-13.7%) $932,468 (-10.6%) 0.00 665
    2018-12-01 $525,000 (-9.3%) $974,296 (-6.4%) 0.00 638
    2019-01-01 $558,700 (-4.9%) $1,084,402 (2.8%) 0.00 584
    2019-02-01 $581,115 (-4.6%) $1,098,115 (5.8%) 0.00 550
    2019-03-01 $596,698 (-4.5%) $1,107,555 (9.5%) 0.00 547
    2019-04-01 $617,238 (3.2%) $1,107,691 (14.5%) 0.00 552
    2019-05-01 $609,225 (2.0%) $1,064,761 (10.2%) 0.00 583
    2019-06-01 $600,000 (0.2%) $1,051,622 (6.8%) 0.00 657
    2019-07-01 $611,238 (8.9%) $1,067,480 (13.2%) 0.00 725
    2019-08-01 $636,264 (17.0%) $1,087,911 (18.5%) 0.00 756
    2019-09-01 $615,809 (23.4%) $1,083,516 (20.6%) 0.00 772
    2019-10-01 $602,173 (22.9%) $1,088,262 (22.4%) 0.00 778
    2019-11-01 $599,900 (20.7%) $1,111,600 (19.2%) 0.00 723
    2019-12-01 $609,225 (16.0%) $1,141,110 (17.1%) 0.00 674
    2020-01-01 $622,850 (11.5%) $1,232,843 (13.7%) 0.00 619
    2020-02-01 $674,000 (16.0%) $1,281,254 (16.7%) 0.00 576
    2020-03-01 $649,000 (8.8%) $1,238,848 (11.9%) 0.00 582
    2020-04-01 $604,950 (-2.0%) $1,210,484 (9.3%) 0.00 653
    2020-05-01 $620,000 (1.8%) $1,229,809 (15.5%) 0.00 683
    2020-06-01 $734,500 (22.4%) $1,340,088 (27.4%) 0.00 658
    2020-07-01 $782,000 (27.9%) $1,425,619 (33.6%) 0.00 574
    2020-08-01 $844,000 (32.7%) $1,499,579 (37.8%) 0.00 489
    2020-09-01 $977,000 (58.7%) $1,694,576 (56.4%) 0.00 367
    2020-10-01 $967,250 (60.6%) $1,754,379 (61.2%) 0.00 313
    2020-11-01 $1,145,844 (91.0%) $1,961,614 (76.5%) 0.00 256
    2020-12-01 $1,208,000 (98.3%) $2,086,545 (82.9%) 0.00 242
    2021-01-01 $1,300,000 (108.7%) $2,280,593 (85.0%) 0.00 212
    2021-02-01 $1,317,700 (95.5%) $2,397,430 (87.1%) 0.00 192
    2021-03-01 $1,145,000 (76.4%) $2,214,037 (78.7%) 0.00 178
    2021-04-01 $988,000 (63.3%) $2,083,180 (72.1%) 0.00 178
    2021-05-01 $1,100,000 (77.4%) $2,084,491 (69.5%) 0.00 203
    2021-06-01 $965,000 (31.4%) $1,879,519 (40.3%) 0.00 274
    2021-07-01 $952,450 (21.8%) $1,879,519 (31.8%) 0.00 308
    2021-08-01 $862,000 (2.1%) $1,792,376 (19.5%) 0.00 333
    2021-09-01 $885,000 (-9.4%) $2,040,309 (20.4%) 0.00 324
    2021-10-01 $974,500 (0.8%) $2,128,937 (21.4%) 0.00 271
    2021-11-01 $1,345,000 (17.4%) $2,786,440 (42.1%) 0.00 220
    2021-12-01 $1,587,250 (31.4%) $3,050,953 (46.2%) 0.00 174
    2022-01-01 $1,850,000 (42.3%) $3,342,200 (46.6%) 0.00 150
    2022-02-01 $1,454,000 (10.3%) $3,002,552 (25.2%) 0.00 165
    2022-03-01 $1,445,000 (26.2%) $2,651,269 (19.8%) 0.00 179
    2022-04-01 $1,350,000 (36.6%) $2,240,329 (7.5%) 0.00 234
    2022-05-01 $1,054,975 (-4.1%) $1,969,086 (-5.5%) 0.00 328
    2022-06-01 $992,000 (2.8%) $1,852,187 (-1.5%) 0.00 449
    2022-07-01 $1,049,500 (10.2%) $1,869,287 (-0.5%) 0.00 582
    2022-08-01 $1,065,000 (23.6%) $1,843,457 (2.9%) 0.00 645
    2022-09-01 $1,010,000 (14.1%) $1,868,541 (-8.4%) 0.00 625
    2022-10-01 $995,000 (2.1%) $1,828,075 (-14.1%) 0.00 601
    2022-11-01 $995,000 (-26.0%) $1,904,181 (-31.7%) 0.00 551
    2022-12-01 $999,450 (-37.0%) $1,961,170 (-35.7%) 0.00 497
    2023-01-01 $1,149,725 (-37.9%) $2,165,566 (-35.2%) 0.00 454
    2023-02-01 $1,298,250 (-10.7%) $2,279,802 (-24.1%) 0.00 447
    2023-03-01 $1,306,250 (-9.6%) $2,282,694 (-13.9%) 0.00 436
    2023-04-01 $1,325,000 (-1.9%) $2,217,396 (-1.0%) 0.00 436
    2023-05-01 $1,299,250 (23.2%) $2,171,186 (10.3%) 0.00 453
    2023-06-01 $1,233,500 (24.3%) $2,090,239 (12.9%) 0.00 509
    2023-07-01 $1,265,000 (20.5%) $2,230,592 (19.3%) 0.00 575
    2023-08-01 $1,137,250 (6.8%) $2,153,739 (16.8%) 0.00 611
    2023-09-01 $1,050,000 (4.0%) $2,193,537 (17.4%) 0.00 621
    2023-10-01 $1,095,000 (10.1%) $2,151,967 (17.7%) 0.00 587
    2023-11-01 $1,098,500 (10.4%) $2,264,361 (18.9%) 0.00 539
    2023-12-01 $1,198,000 (19.9%) $2,391,346 (21.9%) 0.00 521
    2024-01-01 $1,243,750 (8.2%) $2,522,851 (16.5%) 0.00 486
    2024-02-01 $1,250,000 (-3.7%) $2,502,640 (9.8%) 0.00 488
    2024-03-01 $1,112,500 (-14.8%) $2,419,985 (6.0%) 0.00 513
    2024-04-01 $1,066,500 (-19.5%) $2,256,185 (1.8%) 0.00 573
    2024-05-01 $1,017,500 (-21.7%) $2,101,808 (-3.2%) 0.00 633
    2024-06-01 $990,000 (-19.7%) $1,991,830 (-4.7%) 0.00 735
    2024-07-01 $996,750 (-21.2%) $2,066,488 (-7.4%) 0.00 839
    2024-08-01 $995,000 (-12.5%) $2,075,796 (-3.6%) 0.00 847
    2024-09-01 $976,000 (-7.1%) $2,049,606 (-6.6%) 0.00 833
    2024-10-01 $962,450 (-12.1%) $2,050,267 (-4.7%) 0.00 802
    2024-11-01 $950,000 (-13.5%) $2,161,454 (-4.5%) 0.00 720
    2024-12-01 $950,000 (-20.7%) $2,258,572 (-5.6%) 0.00 628
    2025-01-01 $996,000 (-19.9%) $2,413,531 (-4.3%) 0.00 561
    Bozeman's median listing price for 2025-01-01 was $996,000, a difference of $-247,750 (-19.9%) versus the prior year and $46,000 versus the prior month.

    Bozeman's median listing price comes in at 0% of the national average.

    Bozeman's average listing price for 2025-01-01 was $2,413,531, a difference of $-109,320 (-4.3%) versus the prior year and $154,959 versus the prior month.

    For the 2025-01-01 period, Bozeman had 561 MLS listings, a difference of -67 listings (-11%) versus the prior month and 75 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bozeman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,350 sqft
    2018-02-01 0 days 2,315 sqft
    2018-03-01 0 days 2,355 sqft
    2018-04-01 0 days 2,372 sqft
    2018-05-01 0 days 2,413 sqft
    2018-06-01 0 days 2,549 sqft
    2018-07-01 0 days 2,552 sqft
    2018-08-01 0 days 2,456 sqft
    2018-09-01 0 days 2,307 sqft
    2018-10-01 0 days 2,234 sqft
    2018-11-01 0 days 2,291 sqft
    2018-12-01 0 days 2,316 sqft
    2019-01-01 0 days 2,317 sqft
    2019-02-01 0 days 2,334 sqft
    2019-03-01 0 days 2,358 sqft
    2019-04-01 0 days 2,395 sqft
    2019-05-01 0 days 2,351 sqft
    2019-06-01 0 days 2,374 sqft
    2019-07-01 0 days 2,386 sqft
    2019-08-01 0 days 2,387 sqft
    2019-09-01 0 days 2,336 sqft
    2019-10-01 0 days 2,301 sqft
    2019-11-01 0 days 2,286 sqft
    2019-12-01 0 days 2,246 sqft
    2020-01-01 0 days 2,245 sqft
    2020-02-01 0 days 2,260 sqft
    2020-03-01 0 days 2,256 sqft
    2020-04-01 0 days 2,213 sqft
    2020-05-01 0 days 2,241 sqft
    2020-06-01 0 days 2,352 sqft
    2020-07-01 0 days 2,432 sqft
    2020-08-01 0 days 2,482 sqft
    2020-09-01 0 days 2,531 sqft
    2020-10-01 0 days 2,546 sqft
    2020-11-01 0 days 2,549 sqft
    2020-12-01 0 days 2,529 sqft
    2021-01-01 0 days 2,625 sqft
    2021-02-01 0 days 2,729 sqft
    2021-03-01 0 days 2,755 sqft
    2021-04-01 0 days 2,724 sqft
    2021-05-01 0 days 2,794 sqft
    2021-06-01 0 days 2,585 sqft
    2021-07-01 0 days 2,544 sqft
    2021-08-01 0 days 2,397 sqft
    2021-09-01 0 days 2,405 sqft
    2021-10-01 0 days 2,432 sqft
    2021-11-01 0 days 2,897 sqft
    2021-12-01 0 days 3,121 sqft
    2022-01-01 0 days 3,089 sqft
    2022-02-01 0 days 2,583 sqft
    2022-03-01 0 days 2,447 sqft
    2022-04-01 0 days 2,145 sqft
    2022-05-01 0 days 2,245 sqft
    2022-06-01 0 days 2,222 sqft
    2022-07-01 0 days 2,304 sqft
    2022-08-01 0 days 2,262 sqft
    2022-09-01 0 days 2,337 sqft
    2022-10-01 0 days 2,349 sqft
    2022-11-01 0 days 2,340 sqft
    2022-12-01 0 days 2,379 sqft
    2023-01-01 0 days 2,404 sqft
    2023-02-01 0 days 2,387 sqft
    2023-03-01 0 days 2,418 sqft
    2023-04-01 0 days 2,342 sqft
    2023-05-01 0 days 2,350 sqft
    2023-06-01 0 days 2,347 sqft
    2023-07-01 0 days 2,437 sqft
    2023-08-01 0 days 2,384 sqft
    2023-09-01 0 days 2,346 sqft
    2023-10-01 0 days 2,320 sqft
    2023-11-01 0 days 2,198 sqft
    2023-12-01 0 days 2,176 sqft
    2024-01-01 0 days 2,151 sqft
    2024-02-01 0 days 2,115 sqft
    2024-03-01 0 days 2,084 sqft
    2024-04-01 0 days 2,082 sqft
    2024-05-01 0 days 2,087 sqft
    2024-06-01 0 days 2,152 sqft
    2024-07-01 0 days 2,173 sqft
    2024-08-01 0 days 2,204 sqft
    2024-09-01 0 days 2,197 sqft
    2024-10-01 0 days 2,191 sqft
    2024-11-01 0 days 2,180 sqft
    2024-12-01 0 days 2,133 sqft
    2025-01-01 0 days 2,175 sqft
    Bozeman's median listing age (time on market) for 2025-01-01 was 0 days.

    Bozeman's median square footage for active listings during the 2025-01-01 period was 2,175 sqft. One year prior, the average listing was 2,151 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).