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 6.1% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

Montana's average USDA mortgage closing costs are $6,272.

The average rate for the prior week (2024-12-06) was 6.34% and one month ago for the week of 2024-11-08, the average rate was 6.15%.

The average rate one year ago was 6.52%.

For refis of the same type during the week of 2024-12-13, the average rate was 6.54%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Stockman Bank of Montana 22 5.74% $6,667
Opportunity Bank of Montana 12 5.93% $5,478
Glacier Bank 8 5.86% $6,910
MANN FINANCIAL INC. 7 6.54% $8,042
UNITED WHOLESALE MORTGAGE, LLC 6 6.03% $6,857
Flagstar Bank, FSB 4 6.28% $7,769
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.38% $9,734
CROSSCOUNTRY MORTGAGE, LLC 3 5.81% $12,676
Unify Home Lending Inc. 3 6.58% $2,568
UNIVERSAL LENDING CORPORATION 2 6.00% $6,461
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 7.06% $6,882
First Interstate Bank 2 6.06% $5,970
Paramount Residential Mortgage Group, Inc. 2 6.81% $7,334
Plains Commerce Bank 2 5.69% $11,666
Mortgage Research Center, LLC 1 6.25% $3,169
CHURCHILL MORTGAGE CORPORATION 1 6.25% $9,829
BROKER SOLUTIONS, INC. 1 6.75% $15,306
AXIA FINANCIAL, LLC 1 5.50% $12,219
Chickasaw Community Bank 1 6.50% $6,929
Century Mortgage Company DBA Century Lending Company 1 5.99% $9,221
GUILD MORTGAGE COMPANY 1 5.63% $9,460
Equity Prime Mortgage LLC 1 6.25% $4,109

The top Montana USDA lender as defined by loan originations is Stockman Bank of Montana, with 22 USDA loans originated. Their average total fees are $6,667, which is $1,189 higher than the next largest lender, Opportunity Bank of Montana.

The lowest fee Montana USDA lenders (with over 10 loans originated) are Opportunity Bank of Montana ($5,478), Stockman Bank of Montana ($6,667), .

The lowest rate Montana USDA lenders (with over 10 loans originated) are Stockman Bank of Montana (5.74%), Opportunity Bank of Montana (5.93%), .