BILLINGS Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Billings averaged
6.24%
for the week of 2024-10-17, compared to the national average of
6.44% for the same period.
The average rate for the prior week (2024-10-10) was
6.22% and
one month ago for the week of 2024-09-12, the
average rate was 6%.
Billings's average rate one year ago was 7.27%.
For refis of the same type during the week of 2024-10-17, the average rate
was 6.84%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-17 | 6.44% |
| Billings 30 Year Fixed Rate | 2024-10-17 | 6.24% |
| Billings 30 Year Fixed Rate Refi | 2024-10-17 | 6.84% |
| Billings 15 Year Fixed Rate | 2024-10-17 | 6.72% |
| Billings 15 Year Fixed Rate Refi | 2024-10-17 | 5.63% |
| Billings 30 Year FHA | 2024-10-17 | -0.21% |
| Billings 30 Year FHA Refi | 2024-10-17 | 0% |
| Billings 30 Year USDA | 2024-10-17 | 0% |
| Billings 30 Year USDA Refi | 2024-10-17 | -0.2% |
| Billings 30 Year VA | 2024-10-17 | -0.09% |
| Billings 30 Year VA Refi | 2024-10-17 | 0% |
BILLINGS Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the BILLINGS, MT market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
BILLINGS Average Closing Costs & Other Stats
BILLINGS, MT's 115 lenders originated 3,676
loans during 2023. The total origination value was $1,011,870,000, with an average loan value of
$275,264.
BILLINGS's average closing costs are $6,148.
The top BILLINGS lender as defined by loan originations is Opportunity Bank of Montana, with
181 loans originated. Their average total fees are
$6,331, which is $249
lower than the next largest lender,
Stockman Bank of Montana.
The lowest fee BILLINGS lenders (with over 10 loans originated) are
VALLEY FINANCIAL CREDIT UNION ($4,626), Flagstar Bank, FSB ($4,749), Wells Fargo Bank ($5,159), Bank of America ($5,446) and U.S. Bank ($5,761).
The lowest rate BILLINGS lenders (with over 10 loans originated) are
Wells Fargo Bank (6.23%), Century Mortgage Company DBA Century Lending Company (6.25%), MANN FINANCIAL INC. (6.39%), Bank of America (6.48%) and Servion, Inc. (6.54%).
BILLINGS, MT Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Opportunity Bank of Montana | $154,660,000 | $117,220,000 | -24.2% | 11.6% |
| Stockman Bank of Montana | $161,325,000 | $113,760,000 | -29.5% | 11.2% |
| Glacier Bank | $98,210,000 | $51,460,000 | -47.6% | 5.1% |
| QUICKEN LOANS, LLC | $68,420,000 | $44,085,000 | -35.6% | 4.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $55,520,000 | $43,085,000 | -22.4% | 4.3% |
| The Yellowstone Bank | $54,955,000 | $40,630,000 | -26.1% | 4.0% |
| GUARANTEED RATE, INC. | $27,340,000 | $39,450,000 | 44.3% | 3.9% |
| UNIVERSAL LENDING CORPORATION | $40,800,000 | $38,810,000 | -4.9% | 3.8% |
| U.S. Bank | $48,060,000 | $29,375,000 | -38.9% | 2.9% |
| GUILD MORTGAGE COMPANY | $36,715,000 | $27,575,000 | -24.9% | 2.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $18,225,000 | $26,120,000 | 43.3% | 2.6% |
| CORNERSTONE HOME LENDING, INC. | $54,380,000 | $23,780,000 | -56.3% | 2.4% |
| WALKER & DUNLOP, LLC | $22,715,000 | n/a | 2.2% | |
| VALLEY FINANCIAL CREDIT UNION | $14,480,000 | $21,050,000 | 45.4% | 2.1% |
| GREYSTONE SERVICING COMPANY LLC | $13,560,000 | $20,550,000 | 51.5% | 2.0% |
| Mortgage Research Center, LLC | $19,975,000 | $19,205,000 | -3.9% | 1.9% |
| First Interstate Bank | $82,960,000 | $17,030,000 | -79.5% | 1.7% |
| Servion, Inc. | $25,300,000 | $16,275,000 | -35.7% | 1.6% |
| Prudential Huntoon Paige Associates, LLC | $16,145,000 | n/a | 1.6% | |
| Little Horn State Bank | $15,575,000 | n/a | 1.5% | |
| Altana Federal Credit Union | $36,645,000 | $12,960,000 | -64.6% | 1.3% |
| American Bank Center | $18,500,000 | $10,240,000 | -44.6% | 1.0% |
| Wells Fargo Bank | $25,960,000 | $9,160,000 | -64.7% | 0.9% |
| CMG MORTGAGE, INC. | $6,880,000 | $8,670,000 | 26.0% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $9,430,000 | $8,540,000 | -9.4% | 0.8% |
| Flagstar Bank, FSB | $22,100,000 | $8,400,000 | -62.0% | 0.8% |
| Century Mortgage Company DBA Century Lending Company | $305,000 | $7,455,000 | 2,344.3% | 0.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,515,000 | $6,730,000 | -10.4% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $19,235,000 | $6,455,000 | -66.4% | 0.6% |
| MANN FINANCIAL INC. | $8,705,000 | $5,940,000 | -31.8% | 0.6% |
| BILLINGS | $23,845,000 | $5,890,000 | -75.3% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $7,400,000 | $5,880,000 | -20.5% | 0.6% |
| Bank of America | $8,855,000 | $5,015,000 | -43.4% | 0.5% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $10,010,000 | $4,665,000 | -53.4% | 0.5% |
| LOANDEPOT.COM, LLC | $19,615,000 | $4,585,000 | -76.6% | 0.5% |
| BMO Harris Bank | $775,000 | $4,525,000 | 483.9% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $6,970,000 | $4,145,000 | -40.5% | 0.4% |
| Bank of Bridger | $9,535,000 | $4,120,000 | -56.8% | 0.4% |
| Plains Commerce Bank | $2,715,000 | $3,740,000 | 37.8% | 0.4% |
| USAA Federal Savings Bank | $6,445,000 | $3,515,000 | -45.5% | 0.3% |
| PNC Bank | $2,885,000 | $3,405,000 | 18.0% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $315,000 | $3,400,000 | 979.4% | 0.3% |
| NEWREZ LLC | $4,970,000 | $3,225,000 | -35.1% | 0.3% |
| MOUNTAIN AMERICA | $10,490,000 | $3,085,000 | -70.6% | 0.3% |
| American Mortgage & Equity Consultants, Inc. | $3,020,000 | n/a | 0.3% | |
| 21ST MORTGAGE CORPORATION | $1,600,000 | $2,720,000 | 70.0% | 0.3% |
| BROKER SOLUTIONS, INC. | $7,560,000 | $2,605,000 | -65.5% | 0.3% |
| Morgan Stanley Private Bank | $1,955,000 | $2,455,000 | 25.6% | 0.2% |
| NEW DAY FINANCIAL, LLC | $2,640,000 | $2,340,000 | -11.4% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $12,140,000 | $2,250,000 | -81.5% | 0.2% |
| UBS Bank USA | $2,250,000 | n/a | 0.2% | |
| MID AMERICA MORTGAGE, INC. | $1,770,000 | $2,165,000 | 22.3% | 0.2% |
| West Gate Bank | $2,060,000 | n/a | 0.2% | |
| Discover Bank | $1,770,000 | $2,000,000 | 13.0% | 0.2% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,810,000 | $1,780,000 | -1.7% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $3,530,000 | $1,755,000 | -50.3% | 0.2% |
| The Federal Savings Bank | $3,560,000 | $1,700,000 | -52.2% | 0.2% |
| BETTER MORTGAGE CORPORATION | $2,980,000 | $1,595,000 | -46.5% | 0.2% |
| AMCAP MORTGAGE, LTD. | $1,590,000 | n/a | 0.2% | |
| JPMorgan Chase Bank | $15,210,000 | $1,500,000 | -90.1% | 0.1% |
| Stifel Bank and Trust | $1,495,000 | $1,500,000 | 0.3% | 0.1% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $460,000 | $1,410,000 | 206.5% | 0.1% |
| V.I.P. MORTGAGE, INC. | $1,345,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $905,000 | $1,295,000 | 43.1% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $520,000 | $1,285,000 | 147.1% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $355,000 | $1,285,000 | 262.0% | 0.1% |
| Figure Lending LLC | $730,000 | $1,260,000 | 72.6% | 0.1% |
| Truity Federal Credit Union | $155,000 | $1,250,000 | 706.5% | 0.1% |
| Bell Bank | $1,245,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $5,885,000 | $1,225,000 | -79.2% | 0.1% |
| The Huntington National Bank | $5,230,000 | $1,200,000 | -77.1% | 0.1% |
| GoPrime Mortgage, Inc. | $825,000 | $1,175,000 | 42.4% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $4,960,000 | $1,175,000 | -76.3% | 0.1% |
| Bank of England | $265,000 | $1,105,000 | 317.0% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $2,215,000 | $1,095,000 | -50.6% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $1,545,000 | $1,080,000 | -30.1% | 0.1% |
| Unify Home Lending Inc. | $2,595,000 | $1,055,000 | -59.3% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $4,750,000 | $990,000 | -79.2% | 0.1% |
| EVANSVILLE TEACHERS | $1,185,000 | $965,000 | -18.6% | 0.1% |
| NBKC BANK | $1,545,000 | $950,000 | -38.5% | 0.1% |
| Ally Bank | $1,565,000 | $920,000 | -41.2% | 0.1% |
| OPEN MORTGAGE, LLC | $570,000 | $875,000 | 53.5% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $870,000 | $865,000 | -0.6% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $860,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $630,000 | $840,000 | 33.3% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $635,000 | $835,000 | 31.5% | 0.1% |
| AXIA FINANCIAL, LLC | $790,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $865,000 | $790,000 | -8.7% | 0.1% |
| BAY EQUITY LLC | $1,300,000 | $770,000 | -40.8% | 0.1% |
| PLANET HOME LENDING, LLC | $1,050,000 | $770,000 | -26.7% | 0.1% |
| GREENSTATE CREDIT UNION | $725,000 | n/a | 0.1% | |
| Kirkwood Bank & Trust Co. | $725,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $3,715,000 | $715,000 | -80.8% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $2,105,000 | $710,000 | -66.3% | 0.1% |
| First Western Trust Bank | $565,000 | $670,000 | 18.6% | 0.1% |
| Equity Prime Mortgage LLC | $1,055,000 | $640,000 | -39.3% | 0.1% |
| EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $640,000 | n/a | 0.1% | |
| Great Southern Bank | $635,000 | n/a | 0.1% | |
| AmeriHome Mortgage Company, LLC | $630,000 | n/a | 0.1% | |
| Pinnacle Bank - Wyoming | $385,000 | $625,000 | 62.3% | 0.1% |
| Gate City Bank | $620,000 | n/a | 0.1% | |
| Commerce Home Mortgage, Inc. | $325,000 | $600,000 | 84.6% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $985,000 | $560,000 | -43.1% | 0.1% |
| BLACK HILLS FEDERAL CREDIT UNION | $545,000 | n/a | 0.1% | |
| ZILLOW HOME LOANS, LLC | $2,000,000 | $540,000 | -73.0% | 0.1% |
| BANKWEST, INC. | $790,000 | $535,000 | -32.3% | 0.1% |
| OCMBC, INC. | $535,000 | n/a | 0.1% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $775,000 | $525,000 | -32.3% | 0.1% |
| Logan Finance Corporation | $515,000 | n/a | 0.1% | |
| Willamette Valley Bank | $1,270,000 | $515,000 | -59.4% | 0.1% |
| Charles Schwab Bank, SSB | $505,000 | n/a | 0.0% | |
| PREMIA MORTGAGE, LLC | $2,305,000 | $505,000 | -78.1% | 0.0% |
| PREMIER LENDING, INC. | $495,000 | n/a | 0.0% | |
| SOVEREIGN LENDING GROUP INCORPORATED | $315,000 | $495,000 | 57.1% | 0.0% |
| EVERETT FINANCIAL, INC. | $660,000 | $490,000 | -25.8% | 0.0% |
| Nations Lending Corporation | $1,930,000 | $465,000 | -75.9% | 0.0% |
| SPOKANE TEACHERS | $465,000 | n/a | 0.0% | |
| BEEHIVE | $425,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $425,000 | n/a | 0.0% | |
| ARC HOME LLC | $415,000 | n/a | 0.0% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $405,000 | n/a | 0.0% | |
| SKYONE Federal Credit Union | $385,000 | n/a | 0.0% | |
| CANOPY MORTGAGE, LLC | $285,000 | $375,000 | 31.6% | 0.0% |
| EMBRACE HOME LOANS, INC. | $375,000 | n/a | 0.0% | |
| AMERICAN FINANCIAL NETWORK, INC. | $365,000 | n/a | 0.0% | |
| NATIONS DIRECT MORTGAGE, LLC | $185,000 | $365,000 | 97.3% | 0.0% |
| CHERRY CREEK MORTGAGE, LLC | $4,020,000 | $355,000 | -91.2% | 0.0% |
| UNION HOME MORTGAGE CORP. | $555,000 | $355,000 | -36.0% | 0.0% |
| CARDINAL FINANCIAL | $3,470,000 | $335,000 | -90.3% | 0.0% |
| ENVOY MORTGAGE, LTD | $335,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $880,000 | $335,000 | -61.9% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $495,000 | $335,000 | -32.3% | 0.0% |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $155,000 | $330,000 | 112.9% | 0.0% |
| Ixonia Bank | $325,000 | n/a | 0.0% | |
| SECURITYNATIONAL MORTGAGE COMPANY | $385,000 | $320,000 | -16.9% | 0.0% |
| RUOFF MORTGAGE COMPANY, INC. | $315,000 | n/a | 0.0% | |
| T2 FINANCIAL LLC | $315,000 | n/a | 0.0% | |
| Wyndham Capital Mortgage, Inc. | $345,000 | $315,000 | -8.7% | 0.0% |
| CRESCENT MORTGAGE COMPANY | $970,000 | $305,000 | -68.6% | 0.0% |
| Farmers Bank & Trust | $305,000 | n/a | 0.0% | |
| CITYWIDE HOME LOANS, LLC | $285,000 | $295,000 | 3.5% | 0.0% |
| FIRST COLONY MORTGAGE CORPORATION | $585,000 | $285,000 | -51.3% | 0.0% |
| Flanagan State Bank | $405,000 | $285,000 | -29.6% | 0.0% |
| Montana Federal Credit Union | $285,000 | n/a | 0.0% | |
| SUMMIT FUNDING, INC. | $285,000 | n/a | 0.0% | |
| NEXERA HOLDING LLC | $275,000 | n/a | 0.0% | |
| WRIGHT-PATT CREDIT UNION, INC. | $275,000 | n/a | 0.0% | |
| KeyBank | $2,580,000 | $265,000 | -89.7% | 0.0% |
| First Horizon Bank | $255,000 | n/a | 0.0% | |
| HANSCOM | $255,000 | n/a | 0.0% | |
| HORIZON | $290,000 | $255,000 | -12.1% | 0.0% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $365,000 | $255,000 | -30.1% | 0.0% |
| UMB Bank | $255,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $655,000 | $235,000 | -64.1% | 0.0% |
| SCHLUMBERGER EMPLOYEES CREDIT UNION | $225,000 | n/a | 0.0% | |
| ACADEMY MORTGAGE CORPORATION | $1,785,000 | $215,000 | -88.0% | 0.0% |
| CLEARPATH LENDING | $570,000 | $215,000 | -62.3% | 0.0% |
| First International Bank & Trust | $365,000 | $215,000 | -41.1% | 0.0% |
| WINGS FINANCIAL | $155,000 | $215,000 | 38.7% | 0.0% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $205,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $390,000 | $205,000 | -47.4% | 0.0% |
| RANLIFE, INC. | $205,000 | n/a | 0.0% | |
| Northwest Farm Credit Services, FLCA | $1,155,000 | $195,000 | -83.1% | 0.0% |
| Merchants Bank | $185,000 | n/a | 0.0% | |
| VERITAS FUNDING, LLC | $490,000 | $185,000 | -62.2% | 0.0% |
| F&M Bank | $175,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $1,055,000 | $175,000 | -83.4% | 0.0% |
| Truist | $3,040,000 | $165,000 | -94.6% | 0.0% |
| M&T Bank | $865,000 | $155,000 | -82.1% | 0.0% |
| Thomasville National Bank | $155,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $15,000 | $150,000 | 900.0% | 0.0% |
| Centier Bank | $115,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $90,000 | $115,000 | 27.8% | 0.0% |
| THRIVE MORTGAGE, LLC | $105,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $95,000 | n/a | 0.0% | |
| KINECTA | $395,000 | $75,000 | -81.0% | 0.0% |
| Service Federal Credit Union | $35,000 | $75,000 | 114.3% | 0.0% |
| CLEARWATER Federal Credit Union | $285,000 | $65,000 | -77.2% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $65,000 | n/a | 0.0% | |
| Connexus Credit Union | $55,000 | n/a | 0.0% |
BILLINGS's top lender by overall market share is Opportunity Bank of Montana, with 11.6% market share. In second place, with 11.2%, is Stockman Bank of Montana, having originated $113,760,000 in loans. In third place, with 5.1%, is Glacier Bank, having originated $51,460,000 in loans. In fourth place, with 4.4%, is QUICKEN LOANS, LLC, having originated $44,085,000 in loans. In fifth place, with 4.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $43,085,000 in loans.
BILLINGS, MT Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 59001 | Billings, MT HUD Metro FMR Area | $710 | $770 | $1,010 | $1,410 | $1,710 |
| 59002 | Billings, MT HUD Metro FMR Area | $770 | $830 | $1,090 | $1,500 | $1,700 |
| 59006 | Billings, MT HUD Metro FMR Area | $600 | $660 | $870 | $1,190 | $1,390 |
| 59007 | Billings, MT HUD Metro FMR Area | $710 | $770 | $1,010 | $1,390 | $1,580 |
| 59008 | Billings, MT HUD Metro FMR Area | $770 | $830 | $1,090 | $1,500 | $1,700 |
| 59013 | Billings, MT HUD Metro FMR Area | $720 | $770 | $1,010 | $1,390 | $1,580 |
| 59014 | Billings, MT HUD Metro FMR Area | $610 | $660 | $870 | $1,190 | $1,390 |
| 59015 | Billings, MT HUD Metro FMR Area | $690 | $750 | $980 | $1,360 | $1,590 |
| 59019 | Billings, MT HUD Metro FMR Area | $690 | $750 | $990 | $1,390 | $1,690 |
| 59024 | Billings, MT HUD Metro FMR Area | $590 | $660 | $870 | $1,190 | $1,390 |
| 59026 | Billings, MT HUD Metro FMR Area | $730 | $790 | $1,040 | $1,430 | $1,620 |
| 59029 | Billings, MT HUD Metro FMR Area | $750 | $810 | $1,060 | $1,460 | $1,650 |
| 59037 | Billings, MT HUD Metro FMR Area | $840 | $960 | $1,260 | $1,710 | $2,010 |
| 59041 | Billings, MT HUD Metro FMR Area | $710 | $760 | $1,000 | $1,370 | $1,560 |
| 59044 | Billings, MT HUD Metro FMR Area | $710 | $770 | $1,010 | $1,390 | $1,580 |
| 59057 | Billings, MT HUD Metro FMR Area | $740 | $800 | $1,050 | $1,460 | $1,710 |
| 59063 | Billings, MT HUD Metro FMR Area | $650 | $710 | $930 | $1,310 | $1,580 |
| 59064 | Billings, MT HUD Metro FMR Area | $810 | $870 | $1,140 | $1,570 | $1,780 |
| 59068 | Billings, MT HUD Metro FMR Area | $660 | $710 | $940 | $1,290 | $1,470 |
| 59070 | Billings, MT HUD Metro FMR Area | $720 | $770 | $1,020 | $1,400 | $1,590 |
| 59071 | Billings, MT HUD Metro FMR Area | $690 | $750 | $980 | $1,360 | $1,600 |
| 59079 | Billings, MT HUD Metro FMR Area | $590 | $660 | $870 | $1,190 | $1,390 |
| 59088 | Billings, MT HUD Metro FMR Area | $810 | $870 | $1,140 | $1,570 | $1,780 |
| 59101 | Billings, MT HUD Metro FMR Area | $710 | $770 | $1,010 | $1,390 | $1,580 |
| 59102 | Billings, MT HUD Metro FMR Area | $810 | $870 | $1,140 | $1,570 | $1,780 |
| 59103 | Billings, MT HUD Metro FMR Area | $750 | $810 | $1,060 | $1,460 | $1,650 |
| 59104 | Billings, MT HUD Metro FMR Area | $750 | $810 | $1,060 | $1,460 | $1,650 |
| 59105 | Billings, MT HUD Metro FMR Area | $780 | $840 | $1,110 | $1,520 | $1,730 |
| 59106 | Billings, MT HUD Metro FMR Area | $890 | $960 | $1,260 | $1,730 | $1,970 |
| 59107 | Billings, MT HUD Metro FMR Area | $750 | $810 | $1,060 | $1,460 | $1,650 |
| 59108 | Billings, MT HUD Metro FMR Area | $750 | $810 | $1,060 | $1,460 | $1,650 |
2022 Average & Median Rent Data Statistics
BILLINGS, MT average 1BR rent: $786, median: $770
BILLINGS, MT average 2BR rent: $1,032, median: $1,020
BILLINGS, MT average 3BR rent: $1,422, median: $1,410
BILLINGS, MT Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,279 | $771,295,000 | $338,436 |
| Cash Out Refi | 473 | $100,615,000 | $212,717 |
| Home Improvement | 358 | $27,480,000 | $76,760 |
| Other | 294 | $28,160,000 | $95,782 |
| Refi | 272 | $84,320,000 | $310,000 |
Billings's most frequently cited loan purpose was Home Purchase, with 2,279 originations. The 2nd most popular reason was Cash Out Refi, with 473 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,228 | $377,760,000 | $307,622 |
| 7-8% | 843 | $234,735,000 | $278,452 |
| Over 8% | 749 | $86,335,000 | $115,267 |
| 5-6% | 696 | $230,670,000 | $331,422 |
| 4-5% | 67 | $38,085,000 | $568,433 |
| <2.5% | 12 | $750,000 | $62,500 |
| 2.5-3% | 5 | $1,165,000 | $233,000 |
| 3-4% | 4 | $500,000 | $125,000 |
During 2023, Billings's most frequently originated rate bucket was 6-7%, with 1,228 originations.
Loan Sizing (BILLINGS, MT MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,616 | $477,920,000 | $295,743 |
| $100,000 or less | 838 | $42,640,000 | $50,883 |
| $100k-200k | 610 | $89,370,000 | $146,508 |
| $400k-600k | 460 | $218,100,000 | $474,130 |
| $600k-1000k | 133 | $94,335,000 | $709,286 |
| $Over $1MM | 19 | $89,505,000 | $4,710,789 |
BILLINGS's loan sizing saw the bucket of loans from $200k-400k with 1,616 originations, totaling $477,920,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,256 | $441,480,000 | $351,497 |
| 60-80% | 767 | $278,955,000 | $363,696 |
| Under 20% | 682 | $36,450,000 | $53,446 |
| 20-40% | 431 | $62,985,000 | $146,137 |
| 40-60% | 396 | $146,620,000 | $370,253 |
| Over 100% | 54 | $21,350,000 | $395,370 |
BILLINGS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,256 originations, totaling $441,480,000 in origination value.