Montana USDA Loan Rates, Closing Costs & Stats

Montana

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Montana USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Montana averaged 6.41% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Montana's average USDA mortgage closing costs are $6,241.

The average rate for the prior week (2023-05-19) was 5.85% and one month ago for the week of 2023-04-21, the average rate was 6.16%.

The average rate one year ago was 4.78%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.14%.

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

Montana USDA Loan Lenders by Rates & Fees

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

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Stockman Bank of Montana 27 4.26% $6,088
MANN FINANCIAL INC. 23 4.16% $9,134
Opportunity Bank of Montana 19 4.24% $6,558
Glacier Bank 16 4.19% $6,542
Flagstar Bank, FSB 12 4.02% $6,878
UNITED WHOLESALE MORTGAGE, LLC 8 4.81% $6,272
HOME POINT FINANCIAL CORPORATION 7 4.46% $7,770
GUILD MORTGAGE COMPANY 7 4.52% $8,844
CALIBER HOME LOANS, INC. 4 4.28% $7,029
BAY EQUITY LLC 4 3.94% $9,408
GUARANTEED RATE, INC. 4 4.53% $8,858
UNIVERSAL LENDING CORPORATION 4 5.00% $6,771
Wells Fargo Bank 3 5.29% $3,632
Paramount Residential Mortgage Group, Inc. 3 4.63% $8,393
First Interstate Bank 2 4.44% $6,322
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.38% $7,342
CROSSCOUNTRY MORTGAGE, LLC 2 5.88% $8,081
Hometown Lenders, Inc. 2 3.94% $7,947
Mortgage Research Center, LLC 2 5.38% $3,769
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 5.63% $5,421
Unify Home Lending Inc. 2 5.19% $7,317
CORNERSTONE HOME LENDING, INC. 1 4.75% $12,856
Montana Federal Credit Union 1 6.50% $5,557
Barrington Bank & Trust Company, N.A. 1 3.49% $6,683
AMERICAN FINANCIAL RESOURCES, INC. 1 3.88% $8,629
American Bank Center 1 3.50% $5,322
PARK SIDE FINANCIAL 1 4.63% $4,331
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.00% $6,921
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.13% $15,622
Equity Prime Mortgage LLC 1 5.00% $10,568
CANOPY MORTGAGE, LLC 1 3.25% $9,048
HOMESTAR FINANCIAL CORPORATION 1 5.50% $5,890
FIRST COLONY MORTGAGE CORPORATION 1 6.25% $3,621

The top Montana USDA lender as defined by loan originations is Stockman Bank of Montana, with 27 USDA loans originated. Their average total fees are $6,088, which is $3,046 lower than the next largest lender, MANN FINANCIAL INC..

The lowest fee Montana USDA lenders (with over 10 loans originated) are Stockman Bank of Montana ($6,088), Glacier Bank ($6,542), Opportunity Bank of Montana ($6,558), Flagstar Bank, FSB ($6,878) and MANN FINANCIAL INC. ($9,134).

The lowest rate Montana USDA lenders (with over 10 loans originated) are Flagstar Bank, FSB (4.02%), MANN FINANCIAL INC. (4.16%), Glacier Bank (4.19%), Opportunity Bank of Montana (4.24%) and Stockman Bank of Montana (4.26%).