Great Falls USDA Loan Rates, Closing Costs & Stats
GREAT FALLS, MT
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Great Falls's 3 lenders originated 3 USDA loans during 2023. The total origination value was $825,000, with an average USDA loan value of $275,000.
Great Falls USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Great Falls
averaged
6.56%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Great Falls's average USDA mortgage closing costs are $5,889.
The average rate for the prior week (2024-04-12) was
6.31% and
one month ago for the week of 2024-03-15, the
average rate was 6.09%.
The average rate one year ago was 6.13%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.06%.
Great Falls USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Great Falls level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 5.75% | $11,192 |
| MANN FINANCIAL INC. | 1 | 7.38% | $7,386 |
| Opportunity Bank of Montana | 1 | 6.25% | $8,883 |
The top Great Falls USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
1 USDA loans originated. Their average total fees are
$11,192, which is $3,806
higher than the next largest lender,
MANN FINANCIAL INC..
The lowest fee Great Falls USDA lenders (with over 10 loans originated) are
.
The lowest rate Great Falls USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Great Falls (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 | $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 |
Great Falls's median listing price comes in at 0% of the national average.
Great Falls's average listing price for 2024-03-01 was $545,691, a difference of $-88,314 (-13.9%) versus the prior year and $1,862 versus the prior month.
For the 2024-03-01 period, Great Falls had 99 MLS listings, a difference of -3 listings (-3%) versus the prior month and 37 listings (60%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Great Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,988 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 |
Great Falls's median square footage for active listings during the 2024-03-01 period was 2,072 sqft. One year prior, the average listing was 2,290 sqft.