Missoula FHA Loan Rates, Closing Costs & Stats

MISSOULA, 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.

    Missoula's 26 lenders originated 74 FHA loans during 2023. The total origination value was $27,550,000, with an average FHA loan value of $372,297.

    Missoula FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Missoula averaged 6.24% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Missoula's average FHA mortgage closing costs are $9,582.

    The average rate for the prior week (2025-02-07) was 6.26% and one month ago for the week of 2025-01-10, the average rate was 6.42%.

    The average rate one year ago was 6.35%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.42%.

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

    Missoula 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 Missoula level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MANN FINANCIAL INC. 11 6.00% $17,019
    ENVOY MORTGAGE, LTD 6 6.27% $18,795
    UNITED WHOLESALE MORTGAGE, LLC 5 6.25% $15,668
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.30% $17,588
    Stockman Bank of Montana 4 6.22% $13,130
    QUICKEN LOANS, LLC 3 6.33% $16,420
    CROSSCOUNTRY MORTGAGE, LLC 3 6.71% $17,009
    Glacier Bank 3 6.13% $13,675
    Prosperity Home Mortgage, LLC 2 6.81% $16,493
    Opportunity Bank of Montana 2 6.69% $14,818
    FIRST COLONY MORTGAGE CORPORATION 2 6.00% $24,413
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.50% $20,383
    GUARANTEED RATE, INC. 2 5.75% $13,315
    Waterstone Mortgage Corporation 1 6.63% $11,012
    CALCON MUTUAL MORTGAGE LLC 1 7.63% $20,670
    Century Mortgage Company DBA Century Lending Company 1 6.63% $11,359
    Flagstar Bank, FSB 1 6.75% $12,164
    FREEDOM MORTGAGE CORPORATION 1 7.25% $23,646
    GUILD MORTGAGE COMPANY 1 6.13% $18,670
    HORIZON 1 7.25% $16,778
    MID AMERICA MORTGAGE, INC. 1 6.25% $4,819
    Mr. Cooper ( Nationstar Mortgage ) 1 5.13% $17,545
    NEWREZ LLC 1 6.63% $13,836
    PHH Mortgage Corporation 1 6.63% $9,783
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $15,830
    AMERISAVE MORTGAGE CORPORATION 1 5.13% $17,567

    The top Missoula FHA lender as defined by loan originations is MANN FINANCIAL INC., with 11 FHA loans originated. Their average total fees are $17,019, which is $1,776 lower than the next largest lender, ENVOY MORTGAGE, LTD.

    The lowest fee Missoula FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. ($17,019), .

    The lowest rate Missoula FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. (6.00%), .

    Missoula FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MISSOULA, MT MISSOULA 2022 $471,500 $603,600 $729,600 $906,750
    MISSOULA, MT MISSOULA 2023 $546,250 $699,300 $845,300 $1,050,500

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Missoula (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 $374,100 (6.9%) $527,916 (-9.7%) 0.00 469
    2018-02-01 $384,075 (9.7%) $542,569 (-5.9%) 0.00 443
    2018-03-01 $379,900 (8.6%) $535,354 (-4.5%) 0.00 473
    2018-04-01 $377,450 (9.4%) $532,790 (0.6%) 0.00 488
    2018-05-01 $389,675 (8.4%) $546,308 (2.7%) 0.00 542
    2018-06-01 $389,950 (8.4%) $548,790 (4.9%) 0.00 634
    2018-07-01 $385,000 (4.3%) $539,577 (6.0%) 0.00 684
    2018-08-01 $384,325 (3.6%) $545,723 (7.6%) 0.00 698
    2018-09-01 $379,900 (3.0%) $536,743 (4.5%) 0.00 723
    2018-10-01 $379,975 (2.9%) $537,405 (3.0%) 0.00 698
    2018-11-01 $379,900 (5.5%) $531,922 (3.6%) 0.00 655
    2018-12-01 $384,250 (3.0%) $542,700 (3.2%) 0.00 563
    2019-01-01 $384,850 (2.9%) $550,352 (4.3%) 0.00 513
    2019-02-01 $384,750 (0.2%) $538,850 (-0.7%) 0.00 482
    2019-03-01 $386,836 (1.8%) $541,086 (1.1%) 0.00 470
    2019-04-01 $391,975 (3.9%) $546,226 (2.5%) 0.00 472
    2019-05-01 $399,900 (2.6%) $545,130 (-0.2%) 0.00 521
    2019-06-01 $398,350 (2.2%) $541,965 (-1.2%) 0.00 530
    2019-07-01 $399,950 (3.9%) $540,749 (0.2%) 0.00 538
    2019-08-01 $402,168 (4.6%) $548,712 (0.6%) 0.00 529
    2019-09-01 $405,420 (6.7%) $554,621 (3.3%) 0.00 517
    2019-10-01 $403,589 (6.2%) $560,814 (4.4%) 0.00 497
    2019-11-01 $395,000 (4.0%) $555,264 (4.4%) 0.00 450
    2019-12-01 $398,198 (3.6%) $549,410 (1.2%) 0.00 391
    2020-01-01 $417,000 (8.4%) $577,767 (5.0%) 0.00 323
    2020-02-01 $417,100 (8.4%) $585,565 (8.7%) 0.00 309
    2020-03-01 $430,150 (11.2%) $610,287 (12.8%) 0.00 328
    2020-04-01 $425,000 (8.4%) $599,973 (9.8%) 0.00 356
    2020-05-01 $449,000 (12.3%) $638,640 (17.2%) 0.00 349
    2020-06-01 $449,950 (13.0%) $639,629 (18.0%) 0.00 338
    2020-07-01 $478,225 (19.6%) $700,590 (29.6%) 0.00 311
    2020-08-01 $519,000 (29.1%) $742,464 (35.3%) 0.00 288
    2020-09-01 $525,000 (29.5%) $768,980 (38.7%) 0.00 260
    2020-10-01 $509,000 (26.1%) $769,439 (37.2%) 0.00 240
    2020-11-01 $538,675 (36.4%) $817,657 (47.3%) 0.00 182
    2020-12-01 $539,900 (35.6%) $841,374 (53.1%) 0.00 153
    2021-01-01 $614,500 (47.4%) $905,983 (56.8%) 0.00 123
    2021-02-01 $550,000 (31.9%) $848,582 (44.9%) 0.00 121
    2021-03-01 $487,450 (13.3%) $751,596 (23.2%) 0.00 140
    2021-04-01 $566,475 (33.3%) $795,710 (32.6%) 0.00 128
    2021-05-01 $575,000 (28.1%) $853,008 (33.6%) 0.00 141
    2021-06-01 $583,200 (29.6%) $882,119 (37.9%) 0.00 155
    2021-07-01 $625,000 (30.7%) $885,766 (26.4%) 0.00 175
    2021-08-01 $618,295 (19.1%) $850,777 (14.6%) 0.00 204
    2021-09-01 $642,500 (22.4%) $873,980 (13.7%) 0.00 189
    2021-10-01 $657,500 (29.2%) $885,236 (15.1%) 0.00 167
    2021-11-01 $709,000 (31.6%) $997,234 (22.0%) 0.00 131
    2021-12-01 $767,450 (42.2%) $1,056,272 (25.5%) 0.00 111
    2022-01-01 $795,000 (29.4%) $1,109,893 (22.5%) 0.00 85
    2022-02-01 $821,725 (49.4%) $1,170,110 (37.9%) 0.00 85
    2022-03-01 $774,500 (58.9%) $1,037,050 (38.0%) 0.00 92
    2022-04-01 $839,500 (48.2%) $1,045,472 (31.4%) 0.00 115
    2022-05-01 $751,000 (30.6%) $954,329 (11.9%) 0.00 172
    2022-06-01 $731,000 (25.3%) $935,549 (6.1%) 0.00 224
    2022-07-01 $724,900 (16.0%) $975,586 (10.1%) 0.00 258
    2022-08-01 $705,375 (14.1%) $951,554 (11.9%) 0.00 287
    2022-09-01 $688,741 (7.2%) $939,459 (7.5%) 0.00 293
    2022-10-01 $689,000 (4.8%) $939,705 (6.2%) 0.00 280
    2022-11-01 $679,791 (-4.1%) $955,832 (-4.2%) 0.00 268
    2022-12-01 $689,900 (-10.1%) $972,017 (-8.0%) 0.00 231
    2023-01-01 $699,000 (-12.1%) $1,022,040 (-7.9%) 0.00 217
    2023-02-01 $722,499 (-12.1%) $1,017,323 (-13.1%) 0.00 209
    2023-03-01 $794,725 (2.6%) $1,021,377 (-1.5%) 0.00 187
    2023-04-01 $800,000 (-4.7%) $1,105,049 (5.7%) 0.00 199
    2023-05-01 $778,725 (3.7%) $1,084,807 (13.7%) 0.00 250
    2023-06-01 $754,000 (3.2%) $1,051,620 (12.4%) 0.00 288
    2023-07-01 $724,900 (0.0%) $1,044,020 (7.0%) 0.00 303
    2023-08-01 $690,500 (-2.1%) $1,054,851 (10.9%) 0.00 318
    2023-09-01 $699,900 (1.6%) $1,065,582 (13.4%) 0.00 354
    2023-10-01 $699,900 (1.6%) $1,081,030 (15.0%) 0.00 358
    2023-11-01 $699,450 (2.9%) $1,097,677 (14.8%) 0.00 337
    2023-12-01 $679,900 (-1.5%) $1,018,648 (4.8%) 0.00 302
    2024-01-01 $671,248 (-4.0%) $1,022,607 (0.1%) 0.00 281
    2024-02-01 $689,250 (-4.6%) $1,009,794 (-0.7%) 0.00 249
    2024-03-01 $717,450 (-9.7%) $1,013,446 (-0.8%) 0.00 247
    2024-04-01 $707,000 (-11.6%) $1,010,386 (-8.6%) 0.00 286
    2024-05-01 $699,000 (-10.2%) $1,034,845 (-4.6%) 0.00 348
    2024-06-01 $699,000 (-7.3%) $992,067 (-5.7%) 0.00 385
    2024-07-01 $709,000 (-2.2%) $1,018,142 (-2.5%) 0.00 405
    2024-08-01 $699,000 (1.2%) $983,486 (-6.8%) 0.00 416
    2024-09-01 $695,000 (-0.7%) $949,814 (-10.9%) 0.00 440
    2024-10-01 $691,950 (-1.1%) $956,188 (-11.6%) 0.00 437
    2024-11-01 $675,000 (-3.5%) $972,044 (-11.5%) 0.00 394
    2024-12-01 $674,750 (-0.8%) $1,013,830 (-0.5%) 0.00 351
    2025-01-01 $695,000 (3.5%) $1,057,105 (3.4%) 0.00 309
    Missoula's median listing price for 2025-01-01 was $695,000, a difference of $23,752 (3.5%) versus the prior year and $20,250 versus the prior month.

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

    Missoula's average listing price for 2025-01-01 was $1,057,105, a difference of $34,498 (3.4%) versus the prior year and $43,275 versus the prior month.

    For the 2025-01-01 period, Missoula had 309 MLS listings, a difference of -42 listings (-12%) versus the prior month and 28 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Missoula (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,190 sqft
    2018-02-01 0 days 2,215 sqft
    2018-03-01 0 days 2,175 sqft
    2018-04-01 0 days 2,216 sqft
    2018-05-01 0 days 2,189 sqft
    2018-06-01 0 days 2,155 sqft
    2018-07-01 0 days 2,113 sqft
    2018-08-01 0 days 2,135 sqft
    2018-09-01 0 days 2,087 sqft
    2018-10-01 0 days 2,080 sqft
    2018-11-01 0 days 2,054 sqft
    2018-12-01 0 days 2,091 sqft
    2019-01-01 0 days 2,095 sqft
    2019-02-01 0 days 2,069 sqft
    2019-03-01 0 days 2,069 sqft
    2019-04-01 0 days 2,082 sqft
    2019-05-01 0 days 2,229 sqft
    2019-06-01 0 days 2,230 sqft
    2019-07-01 0 days 2,229 sqft
    2019-08-01 0 days 2,237 sqft
    2019-09-01 0 days 2,234 sqft
    2019-10-01 0 days 2,231 sqft
    2019-11-01 0 days 2,196 sqft
    2019-12-01 0 days 2,138 sqft
    2020-01-01 0 days 2,163 sqft
    2020-02-01 0 days 2,112 sqft
    2020-03-01 0 days 2,216 sqft
    2020-04-01 0 days 2,202 sqft
    2020-05-01 0 days 2,289 sqft
    2020-06-01 0 days 2,286 sqft
    2020-07-01 0 days 2,394 sqft
    2020-08-01 0 days 2,432 sqft
    2020-09-01 0 days 2,415 sqft
    2020-10-01 0 days 2,438 sqft
    2020-11-01 0 days 2,442 sqft
    2020-12-01 0 days 2,344 sqft
    2021-01-01 0 days 2,515 sqft
    2021-02-01 0 days 2,263 sqft
    2021-03-01 0 days 2,086 sqft
    2021-04-01 0 days 2,200 sqft
    2021-05-01 0 days 2,335 sqft
    2021-06-01 0 days 2,172 sqft
    2021-07-01 0 days 2,197 sqft
    2021-08-01 0 days 2,298 sqft
    2021-09-01 0 days 2,330 sqft
    2021-10-01 0 days 2,263 sqft
    2021-11-01 0 days 2,347 sqft
    2021-12-01 0 days 2,406 sqft
    2022-01-01 0 days 2,323 sqft
    2022-02-01 0 days 2,353 sqft
    2022-03-01 0 days 2,272 sqft
    2022-04-01 0 days 2,296 sqft
    2022-05-01 0 days 2,242 sqft
    2022-06-01 0 days 2,294 sqft
    2022-07-01 0 days 2,305 sqft
    2022-08-01 0 days 2,221 sqft
    2022-09-01 0 days 2,199 sqft
    2022-10-01 0 days 2,274 sqft
    2022-11-01 0 days 2,198 sqft
    2022-12-01 0 days 2,184 sqft
    2023-01-01 0 days 2,199 sqft
    2023-02-01 0 days 2,234 sqft
    2023-03-01 0 days 2,282 sqft
    2023-04-01 0 days 2,279 sqft
    2023-05-01 0 days 2,230 sqft
    2023-06-01 0 days 2,244 sqft
    2023-07-01 0 days 2,076 sqft
    2023-08-01 0 days 2,095 sqft
    2023-09-01 0 days 2,126 sqft
    2023-10-01 0 days 2,141 sqft
    2023-11-01 0 days 2,139 sqft
    2023-12-01 0 days 2,120 sqft
    2024-01-01 0 days 2,117 sqft
    2024-02-01 0 days 2,086 sqft
    2024-03-01 0 days 2,136 sqft
    2024-04-01 0 days 2,080 sqft
    2024-05-01 0 days 2,021 sqft
    2024-06-01 0 days 1,992 sqft
    2024-07-01 0 days 2,077 sqft
    2024-08-01 0 days 2,082 sqft
    2024-09-01 0 days 2,021 sqft
    2024-10-01 0 days 2,063 sqft
    2024-11-01 0 days 2,043 sqft
    2024-12-01 0 days 2,081 sqft
    2025-01-01 0 days 2,121 sqft
    Missoula's median listing age (time on market) for 2025-01-01 was 0 days.

    Missoula's median square footage for active listings during the 2025-01-01 period was 2,121 sqft. One year prior, the average listing was 2,117 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).