Missoula VA Loans

MISSOULA, MT

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 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.

Missoula's 66 lenders originated 377 VA loans during 2021. The total origination value was $131,995,000, with an average VA loan value of $350,119.

Missoula VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Missoula averaged 5.49% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.72% and one month ago for the week of 2022-04-08, the average rate was 5.05%.

The average rate one year ago was 2.86%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.52%.

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

Missoula VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Missoula level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 29 2.40% $3,683
UNITED WHOLESALE MORTGAGE, LLC 27 2.47% $5,973
MANN FINANCIAL INC. 22 2.69% $6,235
QUICKEN LOANS, LLC 21 2.39% $5,138
GUILD MORTGAGE COMPANY 18 2.60% $5,640
Mortgage Research Center, LLC 17 2.71% $5,804
Opportunity Bank of Montana 14 2.53% $6,935
USAA Federal Savings Bank 13 2.93% $6,634
PENNYMAC LOAN SERVICES, LLC 12 2.50% $7,672
NEW DAY FINANCIAL, LLC 12 2.57% $9,297
GUARANTEED RATE, INC. 11 2.45% $7,194
Glacier Bank 10 2.88% $4,481
ENVOY MORTGAGE, LTD 9 3.07% $10,265
Stockman Bank of Montana 8 2.70% $9,677
NAVY FEDERAL CREDIT UNION 8 2.52% $5,943
Wells Fargo Bank 7 2.59% $5,892
LOANDEPOT.COM, LLC 7 2.57% $4,646
LAKEVIEW LOAN SERVICING, LLC 7 2.45% $2,513
LENDUS, LLC 6 2.44% $5,033
CLEARPATH LENDING 6 2.17% $5,572
The Federal Savings Bank 4 2.53% $5,047
CLEARWATER Federal Credit Union 3 3.21% $2,199
First Interstate Bank 3 2.54% $8,016
PENTAGON FEDERAL CREDIT UNION 3 2.29% $813
HORIZON 3 2.38% $5,503
BAY EQUITY LLC 3 2.58% $7,178
CALIBER HOME LOANS, INC. 2 2.25% $3,751
NEWREZ LLC 2 2.63% $1,975
VILLAGE CAPITAL & INVESTMENT LLC 2 2.25% $4,393
Armed Forces Bank 2 2.31% $10,459
SUN WEST MORTGAGE COMPANY, INC. 2 2.56% $8,721
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.00% $8,269
STEARNS LENDING, LLC 2 2.81% $7,185
Flagstar Bank, FSB 2 2.91% $2,226
AMERISAVE MORTGAGE CORPORATION 2 2.44% $4,874
AMERICAN FINANCIAL NETWORK, INC. 2 2.44% $8,492
Texana Bank 1 2.25% $4,954
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $3,554
Barrington Bank & Trust Company, N.A. 1 2.88% $2,393
BROKER SOLUTIONS, INC. 1 2.88% $3,614
CRESCENT MORTGAGE COMPANY 1 2.75% $9,345
CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $5,300
EVERETT FINANCIAL, INC. 1 3.00% $1,575
First Federal Bank 1 3.13% $22,732
First Federal Bank of Kansas City 1 3.00% $11,136
First Home Bank 1 2.25% $3,676
First Savings Bank 1 2.63% $9,181
Hometown Lenders, Inc. 1 2.63% $6,466
IMPAC MORTGAGE CORP. 1 2.25% $0
KS StateBank 1 2.75% $4,297
Low VA Rates, LLC 1 2.25% $6,458
NBH Bank 1 2.75% $6,601
NBKC BANK 1 2.25% $2,363
North American Savings Bank, F.S.B. 1 2.75% $12,967
Paramount Bank 1 2.88% $4,568
PLANET HOME LENDING, LLC 1 2.75% $870
Platinum Home Mortgage Corporation 1 3.25% $14,343
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.38% $2,857
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.99% $21,657
S1L, Inc. 1 2.25% $3,268
SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $2,377
Sunflower Bank 1 2.49% $4,022
ACCELERATE MORTGAGE, LLC 1 2.25% $3,977
Umpqua Bank 1 2.50% $2,971
UNION HOME MORTGAGE CORP. 1 2.25% $4,322
U.S. Bank 1 3.50% $1,844

The top Missoula VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 29 VA loans originated. Their average total fees are $3,683, which is $2,290 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Missoula VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,683), Glacier Bank ($4,481), QUICKEN LOANS, LLC ($5,138), GUILD MORTGAGE COMPANY ($5,640) and Mortgage Research Center, LLC ($5,804).

The lowest rate Missoula VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.39%), FREEDOM MORTGAGE CORPORATION (2.40%), GUARANTEED RATE, INC. (2.45%), UNITED WHOLESALE MORTGAGE, LLC (2.47%) and PENNYMAC LOAN SERVICES, LLC (2.50%).


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 $393,000 (6.5%) $555,640 (-14.7%) 0.00 524
2018-02-01 $398,000 (7.7%) $568,110 (-11.0%) 0.00 487
2018-03-01 $389,000 (10.9%) $566,889 (-7.2%) 0.00 513
2018-04-01 $388,900 (11.9%) $570,394 (-1.5%) 0.00 523
2018-05-01 $399,850 (10.3%) $588,213 (3.4%) 0.00 569
2018-06-01 $399,500 (8.0%) $575,441 (3.7%) 0.00 665
2018-07-01 $398,450 (7.3%) $566,487 (6.2%) 0.00 704
2018-08-01 $404,350 (7.2%) $568,605 (7.1%) 0.00 729
2018-09-01 $394,500 (4.1%) $564,033 (3.4%) 0.00 745
2018-10-01 $389,450 (3.3%) $560,715 (1.0%) 0.00 740
2018-11-01 $386,900 (3.5%) $553,153 (2.4%) 0.00 667
2018-12-01 $389,000 (0.0%) $566,875 (1.7%) 0.00 575
2019-01-01 $389,000 (-1.0%) $578,037 (4.0%) 0.00 531
2019-02-01 $387,900 (-2.5%) $560,165 (-1.4%) 0.00 488
2019-03-01 $392,657 (0.9%) $557,804 (-1.6%) 0.00 475
2019-04-01 $399,250 (2.7%) $558,622 (-2.1%) 0.00 469
2019-05-01 $418,100 (4.6%) $565,489 (-3.9%) 0.00 516
2019-06-01 $409,800 (2.6%) $555,745 (-3.4%) 0.00 535
2019-07-01 $419,450 (5.3%) $557,502 (-1.6%) 0.00 542
2019-08-01 $410,857 (1.6%) $552,335 (-2.9%) 0.00 547
2019-09-01 $406,357 (3.0%) $558,238 (-1.0%) 0.00 547
2019-10-01 $414,550 (6.4%) $576,126 (2.8%) 0.00 511
2019-11-01 $417,100 (7.8%) $565,904 (2.3%) 0.00 443
2019-12-01 $422,450 (8.6%) $566,432 (-0.1%) 0.00 385
2020-01-01 $436,700 (12.3%) $600,518 (3.9%) 0.00 322
2020-02-01 $441,000 (13.7%) $586,172 (4.6%) 0.00 304
2020-03-01 $439,300 (11.9%) $608,732 (9.1%) 0.00 317
2020-04-01 $436,650 (9.4%) $596,627 (6.8%) 0.00 342
2020-05-01 $462,900 (10.7%) $640,969 (13.4%) 0.00 321
2020-06-01 $462,000 (12.7%) $651,205 (17.2%) 0.00 318
2020-07-01 $494,000 (17.8%) $726,935 (30.4%) 0.00 290
2020-08-01 $535,000 (30.2%) $782,588 (41.7%) 0.00 277
2020-09-01 $562,500 (38.4%) $876,115 (56.9%) 0.00 251
2020-10-01 $550,000 (32.7%) $873,731 (51.7%) 0.00 230
2020-11-01 $609,950 (46.2%) $943,387 (66.7%) 0.00 178
2020-12-01 $614,500 (45.5%) $941,049 (66.1%) 0.00 141
2021-01-01 $665,900 (52.5%) $956,251 (59.2%) 0.00 110
2021-02-01 $550,000 (24.7%) $885,422 (51.1%) 0.00 106
2021-03-01 $500,000 (13.8%) $776,088 (27.5%) 0.00 124
2021-04-01 $557,450 (27.7%) $809,246 (35.6%) 0.00 116
2021-05-01 $582,500 (25.8%) $868,767 (35.5%) 0.00 133
2021-06-01 $582,450 (26.1%) $900,030 (38.2%) 0.00 148
2021-07-01 $618,245 (25.2%) $927,150 (27.5%) 0.00 166
2021-08-01 $619,930 (15.9%) $871,702 (11.4%) 0.00 181
2021-09-01 $637,500 (13.3%) $885,336 (1.1%) 0.00 172
2021-10-01 $652,000 (18.6%) $899,852 (3.0%) 0.00 151
2021-11-01 $692,450 (13.5%) $973,703 (3.2%) 0.00 115
2021-12-01 $751,000 (22.2%) $1,041,231 (10.7%) 0.00 94
2022-01-01 $799,000 (20.0%) $1,155,133 (20.8%) 0.00 71
2022-02-01 $798,250 (45.1%) $1,166,652 (31.8%) 0.00 73
2022-03-01 $742,000 (48.4%) $1,027,976 (32.5%) 0.00 80
2022-04-01 $795,000 (42.6%) $1,031,270 (27.4%) 0.00 105
Missoula's median listing price for 2022-04-01 was $795,000, a difference of $237,550 (42.6%) versus the prior year and $53,000 versus the prior month.

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

Missoula's average listing price for 2022-04-01 was $1,031,270, a difference of $222,024 (27.4%) versus the prior year and $3,294 versus the prior month.

For the 2022-04-01 period, Missoula had 105 MLS listings, a difference of 25 listings (31%) versus the prior month and -11 listings (-9%) 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 2,228 sqft
2018-02-01 0 days 2,294 sqft
2018-03-01 0 days 2,292 sqft
2018-04-01 0 days 2,314 sqft
2018-05-01 0 days 2,284 sqft
2018-06-01 0 days 2,230 sqft
2018-07-01 0 days 2,163 sqft
2018-08-01 0 days 2,224 sqft
2018-09-01 0 days 2,192 sqft
2018-10-01 0 days 2,163 sqft
2018-11-01 0 days 2,120 sqft
2018-12-01 0 days 2,144 sqft
2019-01-01 0 days 2,150 sqft
2019-02-01 0 days 2,096 sqft
2019-03-01 0 days 2,095 sqft
2019-04-01 0 days 2,136 sqft
2019-05-01 0 days 2,282 sqft
2019-06-01 0 days 2,255 sqft
2019-07-01 0 days 2,230 sqft
2019-08-01 0 days 2,230 sqft
2019-09-01 0 days 2,256 sqft
2019-10-01 0 days 2,249 sqft
2019-11-01 0 days 2,196 sqft
2019-12-01 0 days 2,165 sqft
2020-01-01 0 days 2,231 sqft
2020-02-01 0 days 2,234 sqft
2020-03-01 0 days 2,272 sqft
2020-04-01 0 days 2,217 sqft
2020-05-01 0 days 2,320 sqft
2020-06-01 0 days 2,347 sqft
2020-07-01 0 days 2,466 sqft
2020-08-01 0 days 2,450 sqft
2020-09-01 0 days 2,548 sqft
2020-10-01 0 days 2,536 sqft
2020-11-01 0 days 2,563 sqft
2020-12-01 0 days 2,407 sqft
2021-01-01 0 days 2,520 sqft
2021-02-01 0 days 2,293 sqft
2021-03-01 0 days 2,058 sqft
2021-04-01 0 days 2,230 sqft
2021-05-01 0 days 2,320 sqft
2021-06-01 0 days 2,206 sqft
2021-07-01 0 days 2,246 sqft
2021-08-01 0 days 2,345 sqft
2021-09-01 0 days 2,356 sqft
2021-10-01 0 days 2,345 sqft
2021-11-01 0 days 2,345 sqft
2021-12-01 0 days 2,392 sqft
2022-01-01 0 days 2,460 sqft
2022-02-01 0 days 2,390 sqft
2022-03-01 0 days 2,311 sqft
2022-04-01 0 days 2,280 sqft
Missoula's median listing age (time on market) for 2022-04-01 was 0 days.

Missoula's median square footage for active listings during the 2022-04-01 period was 2,280 sqft. One year prior, the average listing was 2,230 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.