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
6.6%
for the week of 2024-04-12, compared to the national average (all USDA variants) of
6.705% for the same period.
Montana's average USDA mortgage closing costs are $6,272.
The average rate for the prior week (2024-04-05) was
6.53% and
one month ago for the week of 2024-03-08, the
average rate was 6.59%.
The average rate one year ago was 6.39%.
For refis of the same type during the week of 2024-04-12, the average rate
was 6.64%.
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.
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%), .