Missoula VA Loans

MISSOULA, 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 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.