Helena FHA Loan Rates, Closing Costs & Stats

Helena, MT

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    • 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.

    Helena's 25 lenders originated 114 FHA loans during 2023. The total origination value was $35,400,000, with an average FHA loan value of $310,526.

    Helena FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Helena averaged 6.42% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Helena's average FHA mortgage closing costs are $9,778.

    The average rate for the prior week (2025-02-07) was 6.23% and one month ago for the week of 2025-01-10, the average rate was 6.59%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

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

    Helena 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 Helena level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MANN FINANCIAL INC. 25 6.25% $13,626
    Opportunity Bank of Montana 16 6.05% $11,448
    QUICKEN LOANS, LLC 9 6.08% $14,637
    Stockman Bank of Montana 8 6.55% $14,586
    LOANDEPOT.COM, LLC 5 6.50% $14,550
    U.S. Bank 4 6.13% $11,058
    JPMorgan Chase Bank 3 6.16% $7,805
    AMCAP MORTGAGE, LTD. 2 7.38% $21,245
    CHURCHILL MORTGAGE CORPORATION 2 6.06% $17,779
    Ixonia Bank 2 7.44% $14,026
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $18,609
    PENNYMAC LOAN SERVICES, LLC 2 5.38% $23,934
    PLANET HOME LENDING, LLC 2 6.38% $13,653
    UNITED WHOLESALE MORTGAGE, LLC 2 6.38% $11,784
    WRIGHT-PATT CREDIT UNION, INC. 1 7.50% $8,348
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $17,612
    AMERISAVE MORTGAGE CORPORATION 1 4.75% $8,591
    Willamette Valley Bank 1 6.13% $18,890
    Prosperity Home Mortgage, LLC 1 5.75% $10,172
    CITYWIDE HOME LOANS, LLC 1 6.25% $11,573
    BROKER SOLUTIONS, INC. 1 6.25% $14,323
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $12,438
    Flanagan State Bank 1 6.25% $15,820
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $14,215
    Mortgage Research Center, LLC 1 5.75% $19,698

    The top Helena FHA lender as defined by loan originations is MANN FINANCIAL INC., with 25 FHA loans originated. Their average total fees are $13,626, which is $2,178 higher than the next largest lender, Opportunity Bank of Montana.

    The lowest fee Helena FHA lenders (with over 10 loans originated) are Opportunity Bank of Montana ($11,448), MANN FINANCIAL INC. ($13,626), .

    The lowest rate Helena FHA lenders (with over 10 loans originated) are Opportunity Bank of Montana (6.05%), MANN FINANCIAL INC. (6.25%), .

    Helena FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HELENA, MT JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    HELENA, MT LEWIS AND CLARK 2022 $420,680 $538,650 $651,050 $809,150
    HELENA, MT JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    HELENA, MT LEWIS AND CLARK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Helena (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 $281,825 (-1.3%) $538,215 (50.9%) 0.00 496
    2018-02-01 $279,900 (-1.7%) $498,341 (40.7%) 0.00 510
    2018-03-01 $298,750 (4.8%) $496,773 (30.4%) 0.00 540
    2018-04-01 $299,925 (5.2%) $515,025 (35.9%) 0.00 605
    2018-05-01 $299,935 (5.3%) $500,247 (32.5%) 0.00 671
    2018-06-01 $301,200 (6.7%) $488,512 (30.1%) 0.00 746
    2018-07-01 $310,000 (10.5%) $491,582 (32.5%) 0.00 762
    2018-08-01 $302,550 (7.8%) $493,243 (31.9%) 0.00 755
    2018-09-01 $300,000 (5.3%) $498,472 (37.2%) 0.00 767
    2018-10-01 $309,450 (7.8%) $522,593 (10.3%) 0.00 707
    2018-11-01 $329,913 (14.1%) $573,656 (18.9%) 0.00 457
    2018-12-01 $329,000 (14.9%) $586,708 (17.9%) 0.00 415
    2019-01-01 $314,800 (11.7%) $593,358 (10.3%) 0.00 378
    2019-02-01 $322,400 (15.2%) $563,922 (13.2%) 0.00 351
    2019-03-01 $327,100 (9.5%) $569,802 (14.7%) 0.00 352
    2019-04-01 $327,100 (9.1%) $571,271 (10.9%) 0.00 352
    2019-05-01 $325,000 (8.4%) $562,251 (12.4%) 0.00 384
    2019-06-01 $315,000 (4.6%) $551,410 (12.9%) 0.00 420
    2019-07-01 $315,000 (1.6%) $454,082 (-7.6%) 0.00 437
    2019-08-01 $316,091 (4.5%) $450,674 (-8.6%) 0.00 428
    2019-09-01 $317,727 (5.9%) $449,028 (-9.9%) 0.00 412
    2019-10-01 $319,500 (3.3%) $448,083 (-14.3%) 0.00 397
    2019-11-01 $329,000 (-0.3%) $455,582 (-20.6%) 0.00 350
    2019-12-01 $322,500 (-2.0%) $471,716 (-19.6%) 0.00 314
    2020-01-01 $322,500 (2.5%) $452,557 (-23.7%) 0.00 281
    2020-02-01 $332,500 (3.1%) $499,168 (-11.5%) 0.00 273
    2020-03-01 $339,950 (3.9%) $514,459 (-9.7%) 0.00 268
    2020-04-01 $356,350 (8.9%) $519,218 (-9.1%) 0.00 277
    2020-05-01 $369,450 (13.7%) $537,989 (-4.3%) 0.00 264
    2020-06-01 $374,925 (19.0%) $544,630 (-1.2%) 0.00 251
    2020-07-01 $389,975 (23.8%) $584,180 (28.7%) 0.00 230
    2020-08-01 $403,500 (27.7%) $578,971 (28.5%) 0.00 218
    2020-09-01 $426,200 (34.1%) $599,480 (33.5%) 0.00 209
    2020-10-01 $414,900 (29.9%) $602,847 (34.5%) 0.00 190
    2020-11-01 $462,250 (40.5%) $649,156 (42.5%) 0.00 151
    2020-12-01 $461,225 (43.0%) $665,661 (41.1%) 0.00 128
    2021-01-01 $429,900 (33.3%) $656,583 (45.1%) 0.00 116
    2021-02-01 $472,638 (42.2%) $703,201 (40.9%) 0.00 98
    2021-03-01 $474,650 (39.6%) $692,196 (34.6%) 0.00 101
    2021-04-01 $466,450 (30.9%) $664,596 (28.0%) 0.00 116
    2021-05-01 $460,950 (24.8%) $673,122 (25.1%) 0.00 122
    2021-06-01 $492,000 (31.2%) $703,151 (29.1%) 0.00 132
    2021-07-01 $495,000 (26.9%) $731,246 (25.2%) 0.00 166
    2021-08-01 $485,000 (20.2%) $718,039 (24.0%) 0.00 180
    2021-09-01 $493,000 (15.7%) $730,653 (21.9%) 0.00 172
    2021-10-01 $509,900 (22.9%) $717,204 (19.0%) 0.00 159
    2021-11-01 $542,000 (17.3%) $736,452 (13.5%) 0.00 130
    2021-12-01 $550,000 (19.3%) $738,383 (10.9%) 0.00 99
    2022-01-01 $557,500 (29.7%) $781,971 (19.1%) 0.00 77
    2022-02-01 $581,000 (22.9%) $760,207 (8.1%) 0.00 85
    2022-03-01 $550,000 (15.9%) $800,519 (15.7%) 0.00 85
    2022-04-01 $575,000 (23.3%) $787,192 (18.5%) 0.00 99
    2022-05-01 $550,000 (19.3%) $770,040 (14.4%) 0.00 125
    2022-06-01 $589,450 (19.8%) $851,639 (21.1%) 0.00 149
    2022-07-01 $595,000 (20.2%) $839,227 (14.8%) 0.00 208
    2022-08-01 $599,950 (23.7%) $840,588 (17.1%) 0.00 240
    2022-09-01 $599,900 (21.7%) $852,632 (16.7%) 0.00 237
    2022-10-01 $599,000 (17.5%) $842,989 (17.5%) 0.00 243
    2022-11-01 $576,925 (6.4%) $823,242 (11.8%) 0.00 245
    2022-12-01 $599,000 (8.9%) $845,020 (14.4%) 0.00 218
    2023-01-01 $599,450 (7.5%) $788,752 (0.9%) 0.00 205
    2023-02-01 $586,175 (0.9%) $804,378 (5.8%) 0.00 184
    2023-03-01 $575,750 (4.7%) $789,475 (-1.4%) 0.00 193
    2023-04-01 $599,000 (4.2%) $799,861 (1.6%) 0.00 189
    2023-05-01 $601,875 (9.4%) $828,980 (7.7%) 0.00 201
    2023-06-01 $649,950 (10.3%) $839,124 (-1.5%) 0.00 226
    2023-07-01 $675,000 (13.5%) $875,300 (4.3%) 0.00 253
    2023-08-01 $634,900 (5.8%) $829,260 (-1.4%) 0.00 272
    2023-09-01 $629,000 (4.9%) $817,077 (-4.2%) 0.00 277
    2023-10-01 $608,675 (1.6%) $803,795 (-4.7%) 0.00 273
    2023-11-01 $606,200 (5.1%) $873,911 (6.2%) 0.00 259
    2023-12-01 $599,900 (0.2%) $872,674 (3.3%) 0.00 227
    2024-01-01 $588,750 (-1.8%) $865,320 (9.7%) 0.00 203
    2024-02-01 $614,000 (4.8%) $864,137 (7.4%) 0.00 204
    2024-03-01 $650,000 (12.9%) $888,942 (12.6%) 0.00 211
    2024-04-01 $665,000 (11.0%) $854,854 (6.9%) 0.00 233
    2024-05-01 $672,200 (11.7%) $871,385 (5.1%) 0.00 293
    2024-06-01 $650,000 (0.0%) $831,223 (-0.9%) 0.00 349
    2024-07-01 $650,000 (-3.7%) $865,582 (-1.1%) 0.00 362
    2024-08-01 $632,000 (-0.5%) $837,808 (1.0%) 0.00 391
    2024-09-01 $629,700 (0.1%) $827,806 (1.3%) 0.00 395
    2024-10-01 $619,750 (1.8%) $825,606 (2.7%) 0.00 381
    2024-11-01 $607,000 (0.1%) $754,740 (-13.6%) 0.00 355
    2024-12-01 $599,675 (0.0%) $751,357 (-13.9%) 0.00 297
    2025-01-01 $599,900 (1.9%) $784,096 (-9.4%) 0.00 267
    Helena's median listing price for 2025-01-01 was $599,900, a difference of $11,150 (1.9%) versus the prior year and $225 versus the prior month.

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

    Helena's average listing price for 2025-01-01 was $784,096, a difference of $-81,224 (-9.4%) versus the prior year and $32,739 versus the prior month.

    For the 2025-01-01 period, Helena had 267 MLS listings, a difference of -30 listings (-10%) versus the prior month and 64 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Helena (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,986 sqft
    2018-02-01 0 days 2,008 sqft
    2018-03-01 0 days 2,040 sqft
    2018-04-01 0 days 2,084 sqft
    2018-05-01 0 days 2,112 sqft
    2018-06-01 0 days 2,112 sqft
    2018-07-01 0 days 2,121 sqft
    2018-08-01 0 days 2,111 sqft
    2018-09-01 0 days 2,120 sqft
    2018-10-01 0 days 2,231 sqft
    2018-11-01 0 days 2,268 sqft
    2018-12-01 0 days 2,159 sqft
    2019-01-01 0 days 2,137 sqft
    2019-02-01 0 days 2,152 sqft
    2019-03-01 0 days 2,167 sqft
    2019-04-01 0 days 2,202 sqft
    2019-05-01 0 days 2,151 sqft
    2019-06-01 0 days 2,200 sqft
    2019-07-01 0 days 2,160 sqft
    2019-08-01 0 days 2,153 sqft
    2019-09-01 0 days 2,136 sqft
    2019-10-01 0 days 2,127 sqft
    2019-11-01 0 days 2,147 sqft
    2019-12-01 0 days 2,048 sqft
    2020-01-01 0 days 2,039 sqft
    2020-02-01 0 days 2,042 sqft
    2020-03-01 0 days 2,126 sqft
    2020-04-01 0 days 2,212 sqft
    2020-05-01 0 days 2,222 sqft
    2020-06-01 0 days 2,268 sqft
    2020-07-01 0 days 2,339 sqft
    2020-08-01 0 days 2,362 sqft
    2020-09-01 0 days 2,426 sqft
    2020-10-01 0 days 2,378 sqft
    2020-11-01 0 days 2,400 sqft
    2020-12-01 0 days 2,407 sqft
    2021-01-01 0 days 2,352 sqft
    2021-02-01 0 days 2,285 sqft
    2021-03-01 0 days 2,287 sqft
    2021-04-01 0 days 2,223 sqft
    2021-05-01 0 days 2,067 sqft
    2021-06-01 0 days 2,131 sqft
    2021-07-01 0 days 2,124 sqft
    2021-08-01 0 days 2,060 sqft
    2021-09-01 0 days 2,209 sqft
    2021-10-01 0 days 2,145 sqft
    2021-11-01 0 days 2,126 sqft
    2021-12-01 0 days 2,198 sqft
    2022-01-01 0 days 2,198 sqft
    2022-02-01 0 days 2,217 sqft
    2022-03-01 0 days 2,118 sqft
    2022-04-01 0 days 2,136 sqft
    2022-05-01 0 days 2,187 sqft
    2022-06-01 0 days 2,169 sqft
    2022-07-01 0 days 2,152 sqft
    2022-08-01 0 days 2,138 sqft
    2022-09-01 0 days 2,147 sqft
    2022-10-01 0 days 2,180 sqft
    2022-11-01 0 days 2,135 sqft
    2022-12-01 0 days 2,120 sqft
    2023-01-01 0 days 2,111 sqft
    2023-02-01 0 days 2,083 sqft
    2023-03-01 0 days 2,059 sqft
    2023-04-01 0 days 2,100 sqft
    2023-05-01 0 days 2,215 sqft
    2023-06-01 0 days 2,259 sqft
    2023-07-01 0 days 2,231 sqft
    2023-08-01 0 days 2,198 sqft
    2023-09-01 0 days 2,148 sqft
    2023-10-01 0 days 2,098 sqft
    2023-11-01 0 days 2,106 sqft
    2023-12-01 0 days 2,132 sqft
    2024-01-01 0 days 2,109 sqft
    2024-02-01 0 days 2,109 sqft
    2024-03-01 0 days 2,142 sqft
    2024-04-01 0 days 2,204 sqft
    2024-05-01 0 days 2,225 sqft
    2024-06-01 0 days 2,155 sqft
    2024-07-01 0 days 2,239 sqft
    2024-08-01 0 days 2,194 sqft
    2024-09-01 0 days 2,241 sqft
    2024-10-01 0 days 2,256 sqft
    2024-11-01 0 days 2,151 sqft
    2024-12-01 0 days 2,120 sqft
    2025-01-01 0 days 2,110 sqft
    Helena's median listing age (time on market) for 2025-01-01 was 0 days.

    Helena's median square footage for active listings during the 2025-01-01 period was 2,110 sqft. One year prior, the average listing was 2,109 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).