Montana USDA Loan Rates, Closing Costs & Stats

Montana

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    • 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%).