First Western Bank & Trust Mortgage Rates, Fees & Info
Minot, NDLEI: 5493005A0757T9GRRI44
Tax ID: 45-0279825
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Mortgage Data
Review & Overview
First Western Bank & Trust is a smaller bank specializing in Home Purchase loans. First Western Bank & Trust has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Fargo, Brainerd, Minot, Alexandria, and Bismarck among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)First Western Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Western Bank & Trust is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.38% | 10/13/24 |
30 Year Conventional Refi | 6.36% | 10/13/24 |
30 Year Cash-out Refi | 6.52% | 10/13/24 |
30 Year FHA Purchase | 7.04% | 10/13/24 |
30 Year FHA Refi | 6.47% | 10/13/24 |
30 Year VA Purchase | 5.95% | 10/13/24 |
30 Year VA Refi | 5.81% | 10/13/24 |
30 Year USDA Purchase | 6.39% | 10/13/24 |
30 Year USDA Refi | 6.59% | 10/13/24 |
15 Year Conventional Purchase | 5.88% | 10/13/24 |
15 Year Conventional Refi | 5.88% | 10/13/24 |
15 Year Cash-out Refi | 5.88% | 10/13/24 |
15 Year FHA Refi | 5.68% | 10/13/24 |
15 Year VA Purchase | 5.68% | 10/13/24 |
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. |
First Western Bank & Trust Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
618Origination Dollar Volume (All Markets)
$166,720,000First Western Bank & Trust - 2023
First Western Bank & Trust is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
First Western Bank & Trust's average 30 year fixed mortgage rate was
6.26%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.22%.
Relative Fees (Closing Costs)
First Western Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,131.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
FARGO, ND-MN (FHA|USDA|VA) | 131 | $37,355,000 | $285,153 | $4,999 | 6.67% |
Brainerd, MN (FHA|USDA|VA) | 119 | $26,995,000 | $226,849 | $3,771 | 6.65% |
Minot, ND (FHA|USDA|VA) | 97 | $22,095,000 | $227,784 | $4,685 | 6.54% |
Alexandria, MN (FHA|USDA|VA) | 68 | $16,620,000 | $244,412 | $5,060 | 6.51% |
BISMARCK, ND (FHA|USDA|VA) | 54 | $16,460,000 | $304,815 | $5,714 | 6.68% |
Outside of Metro Areas | 67 | $12,485,000 | $186,343 | $4,168 | 6.67% |
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 30 | $10,430,000 | $347,667 | $5,454 | 6.96% |
Mitchell, SD (FHA|USDA|VA) | 1 | $7,995,000 | $7,995,000 | $0 | 7.00% |
Fergus Falls, MN (FHA|USDA|VA) | 8 | $2,840,000 | $355,000 | $5,684 | 6.92% |
SIOUX FALLS, SD (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $2,747 | 6.47% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $1,260,000 | $630,000 | $7,063 | 6.63% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $5,048 | 6.13% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $1,075,000 | $1,075,000 | $19,172 | 5.50% |
Wahpeton, ND-MN (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $7,121 | 5.83% |
Spearfish, SD (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $3,932 | 5.38% |
ST. CLOUD, MN (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,733 | 6.25% |
Williston, ND (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $9,858 | 6.69% |
Grand Rapids, MN (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $4,223 | 5.75% |
Watertown, SD (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,556 | 7.00% |
LOUISVILLE, KY (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,871 | 6.13% |
FARMINGTON, NM (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $4,704 | 6.38% |
IOWA CITY, IA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.75% |
Bemidji, MN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 8.25% |
Aberdeen, SD (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,100 | 6.25% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,467 | 6.00% |
Willmar, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $565 | 7.00% |
CLEVELAND, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,245 | 6.00% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,448 | 7.13% |
MANKATO, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,790 | 6.13% |
PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.50% |
TOLEDO, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,895 | 5.88% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,007 | 5.63% |
CASPER, WY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,860 | 5.63% |
COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.00% |
APPLETON, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.75% |
Worthington, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,640 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Western Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, First Western Bank & Trust's most frequently originated type of loan was Conventional, with 553 originations. Their 2nd most popular type was FHA, with 39 originations.
Loan Reason
For 2023, First Western Bank & Trust's most frequently cited loan purpose was Home Purchase, with 509 originations. The 2nd most popular reason was Refi, with 65 originations.
Loan Duration/Length
For 2023, First Western Bank & Trust's most frequently cited loan duration was 30 Year, with 389 originations. The 2nd most popular length was Other, with 93 originations.
Origination Fees/Closing Costs
First Western Bank & Trust's average total fees were $5,131, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 264 | $84,910,000 | $321,629 |
5-6% | 173 | $44,825,000 | $259,104 |
7-8% | 147 | $30,295,000 | $206,088 |
Over 8% | 25 | $3,635,000 | $145,400 |
4-5% | 9 | $3,055,000 | $339,444 |
During 2023, First Western Bank & Trust's average interest rate for loans was 6.26%, while their most frequently originated rate bucket for loans was 6-7%, with 264 originations.
Loan Sizing
2023 saw First Western Bank & Trust place emphasis on $200k-400k loans with 301 originations, totaling $84,155,000 in origination value.
Applicant Income
First Western Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 121 originations. The second most popular income band? $50k-75k, with 99 originations.
Applicant Debt to Income Ratio
First Western Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.39%
First Western Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.33%
First Western Bank & Trust has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
250.0 | 2 | $120,000 | $60,000 |
274.0 | 1 | $75,000 | $75,000 |
307.75 | 1 | $65,000 | $65,000 |
312.5 | 2 | $60,000 | $30,000 |
334.2 | 1 | $75,000 | $75,000 |
362.5 | 1 | $105,000 | $105,000 |
516.5 | 1 | $105,000 | $105,000 |
NA | 609 | $166,115,000 | $272,767 |