Great Falls FHA Loan Rates, Closing Costs & Stats
GREAT FALLS, 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.
Great Falls's 38 lenders originated 212 FHA loans during 2023. The total origination value was $54,200,000, with an average FHA loan value of $255,660.
Great Falls FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Great Falls
averaged
6.19%
for the week of 2024-12-13, compared to the national average (all FHA variants) of
6.277% for the same period.
Great Falls's average FHA mortgage closing costs are $7,459.
The average rate for the prior week (2024-12-06) was
6.26% and
one month ago for the week of 2024-11-08, the
average rate was 6.12%.
The average rate one year ago was 6.43%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.48%.
Great Falls 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 Great Falls level.
The top Great Falls FHA lender as defined by loan originations is Stockman Bank of Montana, with
38 FHA loans originated. Their average total fees are
$10,315, which is $1,452
higher than the next largest lender,
Opportunity Bank of Montana.
The lowest fee Great Falls FHA lenders (with over 10 loans originated) are
Opportunity Bank of Montana ($8,864), Stockman Bank of Montana ($10,315), MANN FINANCIAL INC. ($10,416), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,288) and .
The lowest rate Great Falls FHA lenders (with over 10 loans originated) are
Opportunity Bank of Montana (5.86%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.02%), Stockman Bank of Montana (6.10%), MANN FINANCIAL INC. (6.17%) and .
Great Falls FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GREAT FALLS, MT | CASCADE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
GREAT FALLS, MT | CASCADE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Great Falls (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 | $215,975 (11.8%) | $287,671 (7.5%) | 0.00 | 280 |
2018-02-01 | $211,225 (4.6%) | $283,637 (3.4%) | 0.00 | 281 |
2018-03-01 | $225,000 (7.2%) | $294,670 (5.4%) | 0.00 | 264 |
2018-04-01 | $212,500 (6.3%) | $287,733 (2.8%) | 0.00 | 275 |
2018-05-01 | $222,500 (9.5%) | $298,678 (8.9%) | 0.00 | 305 |
2018-06-01 | $232,200 (10.6%) | $302,171 (8.9%) | 0.00 | 327 |
2018-07-01 | $234,700 (11.8%) | $296,383 (11.0%) | 0.00 | 335 |
2018-08-01 | $229,900 (17.3%) | $288,645 (12.6%) | 0.00 | 355 |
2018-09-01 | $225,000 (12.6%) | $287,677 (10.5%) | 0.00 | 380 |
2018-10-01 | $224,600 (4.5%) | $282,946 (2.9%) | 0.00 | 371 |
2018-11-01 | $223,600 (6.5%) | $280,812 (0.0%) | 0.00 | 347 |
2018-12-01 | $219,900 (4.7%) | $279,597 (-1.0%) | 0.00 | 323 |
2019-01-01 | $217,450 (0.7%) | $283,616 (-1.4%) | 0.00 | 283 |
2019-02-01 | $219,900 (4.1%) | $281,624 (-0.7%) | 0.00 | 278 |
2019-03-01 | $237,043 (5.4%) | $292,032 (-0.9%) | 0.00 | 258 |
2019-04-01 | $254,593 (19.8%) | $299,718 (4.2%) | 0.00 | 254 |
2019-05-01 | $248,550 (11.7%) | $304,453 (1.9%) | 0.00 | 297 |
2019-06-01 | $239,900 (3.3%) | $307,001 (1.6%) | 0.00 | 301 |
2019-07-01 | $239,950 (2.2%) | $308,302 (4.0%) | 0.00 | 343 |
2019-08-01 | $237,068 (3.1%) | $304,042 (5.3%) | 0.00 | 335 |
2019-09-01 | $232,670 (3.4%) | $295,696 (2.8%) | 0.00 | 323 |
2019-10-01 | $229,739 (2.3%) | $289,282 (2.2%) | 0.00 | 312 |
2019-11-01 | $224,950 (0.6%) | $280,083 (-0.3%) | 0.00 | 285 |
2019-12-01 | $226,500 (3.0%) | $284,554 (1.8%) | 0.00 | 241 |
2020-01-01 | $242,000 (11.3%) | $292,393 (3.1%) | 0.00 | 207 |
2020-02-01 | $239,950 (9.1%) | $292,445 (3.8%) | 0.00 | 196 |
2020-03-01 | $233,675 (-1.4%) | $291,260 (-0.3%) | 0.00 | 196 |
2020-04-01 | $252,725 (-0.7%) | $305,059 (1.8%) | 0.00 | 199 |
2020-05-01 | $259,000 (4.2%) | $321,142 (5.5%) | 0.00 | 205 |
2020-06-01 | $256,875 (7.1%) | $323,319 (5.3%) | 0.00 | 204 |
2020-07-01 | $257,000 (7.1%) | $337,940 (9.6%) | 0.00 | 182 |
2020-08-01 | $254,500 (7.4%) | $343,000 (12.8%) | 0.00 | 172 |
2020-09-01 | $266,925 (14.7%) | $367,101 (24.2%) | 0.00 | 154 |
2020-10-01 | $249,900 (8.8%) | $364,622 (26.0%) | 0.00 | 115 |
2020-11-01 | $276,375 (22.9%) | $401,563 (43.4%) | 0.00 | 101 |
2020-12-01 | $290,250 (28.2%) | $439,072 (54.3%) | 0.00 | 74 |
2021-01-01 | $295,950 (22.3%) | $467,598 (59.9%) | 0.00 | 60 |
2021-02-01 | $302,425 (26.0%) | $524,639 (79.4%) | 0.00 | 48 |
2021-03-01 | $343,035 (46.8%) | $581,229 (99.6%) | 0.00 | 57 |
2021-04-01 | $307,700 (21.8%) | $583,691 (91.3%) | 0.00 | 50 |
2021-05-01 | $287,450 (11.0%) | $516,094 (60.7%) | 0.00 | 56 |
2021-06-01 | $277,875 (8.2%) | $466,696 (44.4%) | 0.00 | 86 |
2021-07-01 | $285,000 (10.9%) | $449,739 (33.1%) | 0.00 | 88 |
2021-08-01 | $288,500 (13.4%) | $454,496 (32.5%) | 0.00 | 112 |
2021-09-01 | $312,425 (17.1%) | $498,728 (35.9%) | 0.00 | 92 |
2021-10-01 | $299,450 (19.8%) | $471,122 (29.2%) | 0.00 | 74 |
2021-11-01 | $291,250 (5.4%) | $494,065 (23.0%) | 0.00 | 61 |
2021-12-01 | $329,450 (13.5%) | $528,538 (20.4%) | 0.00 | 51 |
2022-01-01 | $349,950 (18.3%) | $574,520 (22.9%) | 0.00 | 45 |
2022-02-01 | $396,000 (30.9%) | $612,818 (16.8%) | 0.00 | 39 |
2022-03-01 | $388,725 (13.3%) | $542,718 (-6.6%) | 0.00 | 40 |
2022-04-01 | $339,000 (10.2%) | $526,995 (-9.7%) | 0.00 | 50 |
2022-05-01 | $394,000 (37.1%) | $539,408 (4.5%) | 0.00 | 71 |
2022-06-01 | $380,000 (36.8%) | $524,816 (12.5%) | 0.00 | 105 |
2022-07-01 | $395,000 (38.6%) | $533,150 (18.6%) | 0.00 | 120 |
2022-08-01 | $412,500 (43.0%) | $564,773 (24.3%) | 0.00 | 128 |
2022-09-01 | $411,000 (31.6%) | $536,326 (7.5%) | 0.00 | 111 |
2022-10-01 | $439,000 (46.6%) | $542,712 (15.2%) | 0.00 | 108 |
2022-11-01 | $439,000 (50.7%) | $577,989 (17.0%) | 0.00 | 90 |
2022-12-01 | $405,000 (22.9%) | $557,568 (5.5%) | 0.00 | 87 |
2023-01-01 | $408,500 (16.7%) | $572,680 (-0.3%) | 0.00 | 80 |
2023-02-01 | $411,750 (4.0%) | $606,095 (-1.1%) | 0.00 | 68 |
2023-03-01 | $405,500 (4.3%) | $634,005 (16.8%) | 0.00 | 62 |
2023-04-01 | $449,950 (32.7%) | $628,595 (19.3%) | 0.00 | 71 |
2023-05-01 | $372,000 (-5.6%) | $628,776 (16.6%) | 0.00 | 74 |
2023-06-01 | $408,250 (7.4%) | $695,472 (32.5%) | 0.00 | 78 |
2023-07-01 | $385,000 (-2.5%) | $628,632 (17.9%) | 0.00 | 95 |
2023-08-01 | $410,459 (-0.5%) | $590,716 (4.6%) | 0.00 | 102 |
2023-09-01 | $454,500 (10.6%) | $619,208 (15.5%) | 0.00 | 106 |
2023-10-01 | $421,500 (-4.0%) | $591,041 (8.9%) | 0.00 | 126 |
2023-11-01 | $388,450 (-11.5%) | $560,579 (-3.0%) | 0.00 | 139 |
2023-12-01 | $394,900 (-2.5%) | $553,634 (-0.7%) | 0.00 | 136 |
2024-01-01 | $382,500 (-6.4%) | $547,571 (-4.4%) | 0.00 | 122 |
2024-02-01 | $399,000 (-3.1%) | $543,829 (-10.3%) | 0.00 | 102 |
2024-03-01 | $375,000 (-7.5%) | $545,691 (-13.9%) | 0.00 | 99 |
2024-04-01 | $386,175 (-14.2%) | $577,303 (-8.2%) | 0.00 | 112 |
2024-05-01 | $384,900 (3.5%) | $586,385 (-6.7%) | 0.00 | 139 |
2024-06-01 | $399,900 (-2.1%) | $634,518 (-8.8%) | 0.00 | 152 |
2024-07-01 | $402,700 (4.6%) | $605,324 (-3.7%) | 0.00 | 170 |
2024-08-01 | $424,500 (3.4%) | $633,395 (7.2%) | 0.00 | 176 |
2024-09-01 | $392,450 (-13.7%) | $628,336 (1.5%) | 0.00 | 187 |
2024-10-01 | $401,450 (-4.8%) | $623,945 (5.6%) | 0.00 | 197 |
2024-11-01 | $415,000 (6.8%) | $634,918 (13.3%) | 0.00 | 171 |
Great Falls's median listing price comes in at 0% of the national average.
Great Falls's average listing price for 2024-11-01 was $634,918, a difference of $74,339 (13.3%) versus the prior year and $10,973 versus the prior month.
For the 2024-11-01 period, Great Falls had 171 MLS listings, a difference of -26 listings (-13%) versus the prior month and 32 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Great Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,988 sqft |
2018-02-01 | 0 days | 1,941 sqft |
2018-03-01 | 0 days | 1,960 sqft |
2018-04-01 | 0 days | 1,954 sqft |
2018-05-01 | 0 days | 2,020 sqft |
2018-06-01 | 0 days | 2,097 sqft |
2018-07-01 | 0 days | 2,144 sqft |
2018-08-01 | 0 days | 2,140 sqft |
2018-09-01 | 0 days | 2,129 sqft |
2018-10-01 | 0 days | 2,133 sqft |
2018-11-01 | 0 days | 2,167 sqft |
2018-12-01 | 0 days | 2,080 sqft |
2019-01-01 | 0 days | 2,083 sqft |
2019-02-01 | 0 days | 1,836 sqft |
2019-03-01 | 0 days | 2,011 sqft |
2019-04-01 | 0 days | 2,191 sqft |
2019-05-01 | 0 days | 2,194 sqft |
2019-06-01 | 0 days | 2,164 sqft |
2019-07-01 | 0 days | 2,250 sqft |
2019-08-01 | 0 days | 2,233 sqft |
2019-09-01 | 0 days | 2,191 sqft |
2019-10-01 | 0 days | 2,164 sqft |
2019-11-01 | 0 days | 2,100 sqft |
2019-12-01 | 0 days | 2,126 sqft |
2020-01-01 | 0 days | 2,215 sqft |
2020-02-01 | 0 days | 2,129 sqft |
2020-03-01 | 0 days | 2,074 sqft |
2020-04-01 | 0 days | 2,246 sqft |
2020-05-01 | 0 days | 2,302 sqft |
2020-06-01 | 0 days | 2,222 sqft |
2020-07-01 | 0 days | 2,270 sqft |
2020-08-01 | 0 days | 2,227 sqft |
2020-09-01 | 0 days | 2,384 sqft |
2020-10-01 | 0 days | 2,208 sqft |
2020-11-01 | 0 days | 2,224 sqft |
2020-12-01 | 0 days | 2,089 sqft |
2021-01-01 | 0 days | 2,144 sqft |
2021-02-01 | 0 days | 2,263 sqft |
2021-03-01 | 0 days | 2,440 sqft |
2021-04-01 | 0 days | 2,379 sqft |
2021-05-01 | 0 days | 2,218 sqft |
2021-06-01 | 0 days | 2,156 sqft |
2021-07-01 | 0 days | 2,150 sqft |
2021-08-01 | 0 days | 2,173 sqft |
2021-09-01 | 0 days | 2,294 sqft |
2021-10-01 | 0 days | 2,240 sqft |
2021-11-01 | 0 days | 2,261 sqft |
2021-12-01 | 0 days | 2,200 sqft |
2022-01-01 | 0 days | 2,216 sqft |
2022-02-01 | 0 days | 2,343 sqft |
2022-03-01 | 0 days | 2,265 sqft |
2022-04-01 | 0 days | 2,196 sqft |
2022-05-01 | 0 days | 2,299 sqft |
2022-06-01 | 0 days | 2,352 sqft |
2022-07-01 | 0 days | 2,431 sqft |
2022-08-01 | 0 days | 2,515 sqft |
2022-09-01 | 0 days | 2,454 sqft |
2022-10-01 | 0 days | 2,586 sqft |
2022-11-01 | 0 days | 2,507 sqft |
2022-12-01 | 0 days | 2,344 sqft |
2023-01-01 | 0 days | 2,321 sqft |
2023-02-01 | 0 days | 2,282 sqft |
2023-03-01 | 0 days | 2,290 sqft |
2023-04-01 | 0 days | 2,298 sqft |
2023-05-01 | 0 days | 2,043 sqft |
2023-06-01 | 0 days | 2,216 sqft |
2023-07-01 | 0 days | 2,104 sqft |
2023-08-01 | 0 days | 2,120 sqft |
2023-09-01 | 0 days | 2,344 sqft |
2023-10-01 | 0 days | 2,266 sqft |
2023-11-01 | 0 days | 2,228 sqft |
2023-12-01 | 0 days | 2,247 sqft |
2024-01-01 | 0 days | 1,944 sqft |
2024-02-01 | 0 days | 2,118 sqft |
2024-03-01 | 0 days | 2,072 sqft |
2024-04-01 | 0 days | 2,113 sqft |
2024-05-01 | 0 days | 2,074 sqft |
2024-06-01 | 0 days | 2,146 sqft |
2024-07-01 | 0 days | 2,115 sqft |
2024-08-01 | 0 days | 2,195 sqft |
2024-09-01 | 0 days | 2,112 sqft |
2024-10-01 | 0 days | 2,033 sqft |
2024-11-01 | 0 days | 2,073 sqft |
Great Falls's median square footage for active listings during the 2024-11-01 period was 2,073 sqft. One year prior, the average listing was 2,228 sqft.