Great Falls VA Loan Rates, Closing Costs & Stats

GREAT FALLS, MT

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

    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Great Falls's 51 lenders originated 319 VA loans during 2023. The total origination value was $100,545,000, with an average VA loan value of $315,188.

    Great Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Great Falls averaged 6.88% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Great Falls's average VA mortgage closing costs are $6,358.

    The average rate for the prior week (2024-04-12) was 6.51% and one month ago for the week of 2024-03-15, the average rate was 6.48%.

    The average rate one year ago was 5.77%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Great Falls VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 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
    Stockman Bank of Montana 68 6.05% $9,303
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 46 6.03% $9,172
    Mortgage Research Center, LLC 43 6.62% $10,062
    Opportunity Bank of Montana 19 5.72% $8,246
    GUARANTEED RATE, INC. 13 6.53% $9,658
    NAVY FEDERAL CREDIT UNION 12 5.70% $6,815
    USAA Federal Savings Bank 9 6.32% $11,189
    FREEDOM MORTGAGE CORPORATION 9 6.82% $15,967
    PENNYMAC LOAN SERVICES, LLC 8 5.22% $7,108
    UNITED WHOLESALE MORTGAGE, LLC 7 6.00% $5,396
    MANN FINANCIAL INC. 7 6.09% $7,613
    QUICKEN LOANS, LLC 6 6.14% $14,053
    The Federal Savings Bank 5 6.70% $13,358
    American Bank Center 4 5.75% $7,307
    NEW DAY FINANCIAL, LLC 4 7.69% $11,801
    Flagstar Bank, FSB 4 6.16% $9,782
    Mr. Cooper ( Nationstar Mortgage ) 4 6.13% $10,355
    UNIVERSAL LENDING CORPORATION 2 6.19% $6,823
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.38% $17,546
    U.S. Bank 2 6.94% $8,824
    VILLAGE CAPITAL MORTGAGE 2 6.00% $13,205
    MORTGAGE 1 INCORPORATED 2 6.00% $19,288
    BROKER SOLUTIONS, INC. 2 6.38% $8,486
    RELIANCE FIRST CAPITAL, LLC 1 5.38% $11,116
    SUMMIT FUNDING, INC. 1 6.75% $12,331
    SUN WEST MORTGAGE COMPANY, INC. 1 6.13% $3,167
    UNION HOME MORTGAGE CORP. 1 5.50% $7,055
    Wells Fargo Bank 1 5.75% $7,336
    ZILLOW HOME LOANS, LLC 1 6.13% $16,663
    AMERICAN FINANCING CORPORATION 1 5.63% $8,786
    Barrington Bank & Trust Company, N.A. 1 6.75% $18,706
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $2,250
    CARDINAL FINANCIAL 1 5.25% $9,418
    CHURCHILL MORTGAGE CORPORATION 1 6.00% $901
    CRESCENT MORTGAGE COMPANY 1 7.00% $12,365
    Equity Prime Mortgage LLC 1 7.25% $15,349
    Glacier Bank 1 6.75% $15,085
    GUILD MORTGAGE COMPANY 1 7.63% $11,315
    HOMESIDE FINANCIAL, LLC 1 6.75% $3,268
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $10,083
    LEADERONE FINANCIAL CORPORATION 1 5.75% $14,343
    Meridian Bank Corporation 1 5.75% $11,709
    Montana Federal Credit Union 1 7.00% $7,176
    MOVEMENT MORTGAGE, LLC 1 6.75% $12,021
    Nations Lending Corporation 1 7.13% $16,210
    NBKC BANK 1 5.88% $15,681
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.25% $9,540
    Paramount Residential Mortgage Group, Inc. 1 7.13% $5,157
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $11,193
    PREMIA MORTGAGE, LLC 1 7.00% $10,412
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $11,118

    The top Great Falls VA lender as defined by loan originations is Stockman Bank of Montana, with 68 VA loans originated. Their average total fees are $9,303, which is $131 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Great Falls VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,815), Opportunity Bank of Montana ($8,246), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,172), Stockman Bank of Montana ($9,303) and GUARANTEED RATE, INC. ($9,658).

    The lowest rate Great Falls VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.70%), Opportunity Bank of Montana (5.72%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.03%), Stockman Bank of Montana (6.05%) and GUARANTEED RATE, INC. (6.53%).

    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 for 2024-03-01 was $375,000, a difference of $-30,500 (-7.5%) versus the prior year and $-24,000 versus the prior month.

    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 listing age (time on market) for 2024-03-01 was 0 days.

    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.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.