Great Falls VA Loan Rates, Closing Costs & Stats

GREAT FALLS, MT

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    • 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 6.37% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.42% and one month ago for the week of 2024-10-04, the average rate was 5.55%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

    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%).

    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.