First Western Bank & Trust Mortgage Rates, Fees & Info

Minot, ND

LEI: 5493005A0757T9GRRI44

Tax ID: 45-0279825

5 stars - Updated: 4/5/25 - out of 5 stars, based on 21 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Minneapolis, Minot, and Bismarck among others. We have data for 34 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 a low 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 about average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 4/5/25
    30 Year Conventional Refi 6.60% 4/5/25
    30 Year Cash-out Refi 6.53% 4/5/25
    30 Year FHA Purchase 6.76% 4/5/25
    30 Year VA Purchase 6.03% 4/5/25
    30 Year VA Refi 6.72% 4/5/25
    30 Year USDA Purchase 6.73% 4/5/25
    15 Year Conventional Purchase 6.10% 4/5/25
    15 Year Conventional Refi 6.00% 4/5/25
    15 Year Cash-out Refi 6.00% 4/5/25
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Western Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    459

    Origination Dollar Volume (All Markets)

    $123,705,000
    Show all (6) awards

    Relative Rate

    First Western Bank & Trust's average 30 year fixed mortgage rate was 6.39%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.16%.

    Relative Fees (Closing Costs)

    First Western Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $5,707.

    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 $8,356.

    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) 83 $23,035,000 $277,530 $5,573 7.00%
    Brainerd, MN (FHA|USDA|VA) 77 $19,025,000 $247,078 $4,430 6.92%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 48 $17,420,000 $362,917 $5,793 6.78%
    Minot, ND (FHA|USDA|VA) 75 $17,215,000 $229,533 $4,695 6.65%
    Outside of Metro Areas 61 $14,705,000 $241,066 $5,156 6.56%
    BISMARCK, ND (FHA|USDA|VA) 39 $12,015,000 $308,077 $5,602 6.53%
    Alexandria, MN (FHA|USDA|VA) 26 $6,720,000 $258,462 $4,918 6.95%
    SIOUX FALLS, SD (FHA|USDA|VA) 3 $1,205,000 $401,667 $2,429 7.62%
    Wahpeton, ND-MN (FHA|USDA|VA) 8 $1,180,000 $147,500 $5,405 7.06%
    Faribault-Northfield, MN (FHA|USDA|VA) 3 $1,025,000 $341,667 $4,864 6.96%
    ST. CLOUD, MN (FHA|USDA|VA) 5 $1,005,000 $201,000 $5,465 7.45%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $765,000 $765,000 $14,295 6.75%
    Williston, ND (FHA|USDA|VA) 2 $730,000 $365,000 $6,562 6.75%
    Aberdeen, SD (FHA|USDA|VA) 1 $705,000 $705,000 $9,892 6.25%
    Dickinson, ND (FHA|USDA|VA) 2 $690,000 $345,000 $6,142 6.37%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $685,000 $685,000 $11,657 6.49%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $535,000 $178,333 $2,728 7.71%
    Spearfish, SD (FHA|USDA|VA) 1 $485,000 $485,000 $7,552 6.63%
    Willmar, MN (FHA|USDA|VA) 2 $480,000 $240,000 $7,962 7.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $445,000 $445,000 $7,536 6.75%
    Fergus Falls, MN (FHA|USDA|VA) 3 $415,000 $138,333 $4,518 7.30%
    BILLINGS, MT (FHA|USDA|VA) 1 $375,000 $375,000 $7,755 6.38%
    Worthington, MN (FHA|USDA|VA) 2 $350,000 $175,000 $4,278 7.88%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $315,000 $315,000 $5,677 6.25%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $1,779 4.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.88%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $255,000 $255,000 $7,095 5.38%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $245,000 $245,000 $5,307 6.88%
    ABILENE, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,609 6.88%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $8,047 6.63%
    Brookings, SD (FHA|USDA|VA) 1 $185,000 $185,000 $0 7.75%
    ROCHESTER, MN (FHA|USDA|VA) 1 $185,000 $185,000 $4,666 6.38%
    Big Rapids, MI (FHA|USDA|VA) 1 $135,000 $135,000 $4,034 7.00%
    First Western Bank & Trust's top markets include Fargo, Brainerd, Minneapolis, Minot, and Bismarck among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • 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.

    Western State Bank
    Similarity Rank: 108
    MY Credit Union
    Similarity Rank: 130
    FIRST COMMUNITY CREDIT UNION
    Similarity Rank: 168
    VALLEY MORTGAGE, INC.
    Similarity Rank: 190
    Dakota Community Bank & Trust
    Similarity Rank: 238
    Starion Bank
    Similarity Rank: 345
    SHAREPOINT CREDIT UNION
    Similarity Rank: 348
    Dacotah Bank
    Similarity Rank: 540
    CAPITAL CREDIT UNION
    Similarity Rank: 704
    ST. CLOUD FINANCIAL
    Similarity Rank: 742

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 416 $111,400,000 $267,788 $4,705 6.89%
    FHA 25 $6,455,000 $258,200 $8,739 5.98%
    VA 15 $5,225,000 $348,333 $7,244 5.85%
    USDA 3 $625,000 $208,333 $7,653 6.00%

    For 2024, First Western Bank & Trust's most frequently originated type of loan was Conventional, with 416 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 370 $103,610,000 $280,027 $5,647 6.68%
    Refi 49 $12,525,000 $255,612 $2,531 7.47%
    Home Improvement 16 $1,860,000 $116,250 $2,188 7.82%
    Cash Out Refi 13 $3,995,000 $307,308 $6,752 6.15%
    Other 11 $1,715,000 $155,909 $1,483 7.41%

    For 2024, First Western Bank & Trust's most frequently cited loan purpose was Home Purchase, with 370 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 287 $85,955,000 $299,495 $5,707 6.39%
    Other 89 $13,515,000 $151,854 $2,224 7.56%
    5 Year 50 $17,530,000 $350,600 $0 7.62%
    1 Year 23 $4,155,000 $180,652 $5,719 7.52%
    15 Year 6 $1,410,000 $235,000 $4,702 5.89%
    20 Year 3 $1,125,000 $375,000 $5,753 6.13%
    10 Year 1 $15,000 $15,000 $334 7.38%

    For 2024, First Western Bank & Trust's most frequently cited loan duration was 30 Year, with 287 originations. The 2nd most popular length was Other, with 89 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 102 $20,910,000 $205,000
    $3k-4k 60 $19,770,000 $329,500
    $1k-2k 57 $10,575,000 $185,526
    $2k-3k 57 $12,435,000 $218,158
    $5k+ 38 $21,020,000 $553,158
    $4k-5k 29 $11,245,000 $387,759

    First Western Bank & Trust's average total fees were $5,707, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 102 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 189 $60,115,000 $318,069
    7-8% 148 $39,080,000 $264,054
    5-6% 62 $15,450,000 $249,194
    Over 8% 40 $4,650,000 $116,250
    4-5% 15 $2,985,000 $199,000
    3-4% 5 $1,425,000 $285,000

    During 2024, First Western Bank & Trust's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was 6-7%, with 189 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 185 $52,525,000 $283,919 $5,744 6.52%
    $100k-200k 137 $20,695,000 $151,058 $3,657 6.90%
    $100,000 or less 65 $4,105,000 $63,154 $1,957 7.45%
    $400k-600k 49 $23,485,000 $479,286 $6,580 6.73%
    $600k-1MM 19 $13,475,000 $709,211 $9,182 6.72%
    $1MM+ 4 $9,420,000 $2,355,000 $14,836 7.35%

    2024 saw First Western Bank & Trust place emphasis on $200k-400k loans with 185 originations, totaling $52,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 74 $12,980,000 $175,405 $4,494 6.24%
    $100k-150k 71 $21,565,000 $303,732 $6,074 6.75%
    $150k-250k 68 $21,330,000 $313,676 $5,473 6.93%
    $75k-100k 62 $15,320,000 $247,097 $5,157 6.50%
    $250k+ 38 $18,020,000 $474,211 $7,643 6.98%
    $50k or less 34 $4,000,000 $117,647 $3,456 6.59%

    First Western Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $100k-150k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 68 $14,690,000 $216,029 $4,200 6.77%
    30-36% 62 $15,410,000 $248,548 $4,757 6.65%
    <20% 25 $5,095,000 $203,800 $4,655 6.85%
    50-60% 23 $6,775,000 $294,565 $5,937 6.52%
    40% 18 $5,520,000 $306,667 $5,511 6.55%
    41% 18 $5,400,000 $300,000 $4,825 6.71%
    42% 16 $5,570,000 $348,125 $6,323 6.64%
    44% 16 $4,730,000 $295,625 $4,920 6.37%
    46% 15 $4,475,000 $298,333 $6,298 6.67%
    49% 15 $5,555,000 $370,333 $5,768 6.48%
    38% 14 $4,140,000 $295,714 $4,564 6.50%
    39% 12 $4,070,000 $339,167 $5,944 6.77%
    45% 12 $2,970,000 $247,500 $4,624 6.47%
    43% 12 $3,530,000 $294,167 $6,144 6.73%
    48% 11 $3,165,000 $287,727 $5,612 6.51%
    36% 10 $2,760,000 $276,000 $5,645 6.67%
    47% 9 $2,915,000 $323,889 $6,689 5.73%
    37% 8 $1,920,000 $240,000 $5,331 6.67%
    >60% 2 $780,000 $390,000 $4,823 7.75%

    First Western Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 326 $89,100,000 $273,313 $5,196 6.68%
    Not applicable 88 $23,390,000 $265,795 $0 7.45%
    Not provided 21 $4,345,000 $206,905 $4,161 6.55%
    Black 10 $2,980,000 $298,000 $5,748 6.29%
    Asian 7 $2,275,000 $325,000 $5,611 6.37%
    American Indian 7 $1,615,000 $230,714 $3,999 6.17%

    Approval Rates

    Total approvals of all applications
    94.44%

    First Western Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.00%

    First Western Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $65,000 $65,000
    159.5 1 $95,000 $95,000
    250.0 1 $85,000 $85,000
    263.75 3 $285,000 $95,000
    313.5 1 $45,000 $45,000
    NA 452 $123,130,000 $272,412

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    459 $123,705,000 $269,510

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $4,815,000 $155,323 $2,858 7.36%
    40-60% 52 $13,080,000 $251,538 $5,102 6.61%
    60-80% 155 $47,255,000 $304,871 $5,457 6.97%
    80-100% 199 $56,205,000 $282,437 $5,578 6.54%
    Over 100% 5 $1,345,000 $269,000 $8,779 5.95%
    Under 20% 17 $1,005,000 $59,118 $1,110 8.17%