First Western Bank & Trust Mortgage Rates, Fees & Info

Minot, ND

LEI: 5493005A0757T9GRRI44

Tax ID: 45-0279825

5 stars - out of 5 stars, based on 27 reviews

Latest/2022 | 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
  • Complaints
  • 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 and Refi loans. First Western Bank & Trust has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Fargo, Bismarck, Alexandria, Brainerd, and Minot 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 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 6.38% 6/7/23
    30 Year Conventional Refi 6.36% 6/7/23
    30 Year Cash-out Refi 6.52% 6/7/23
    30 Year FHA Purchase 7.04% 6/7/23
    30 Year FHA Refi 6.47% 6/7/23
    30 Year VA Purchase 5.95% 6/7/23
    30 Year VA Refi 5.81% 6/7/23
    30 Year USDA Purchase 6.39% 6/7/23
    30 Year USDA Refi 6.59% 6/7/23
    15 Year Conventional Purchase 5.88% 6/7/23
    15 Year Conventional Refi 5.88% 6/7/23
    15 Year Cash-out Refi 5.88% 6/7/23
    15 Year FHA Refi 5.68% 6/7/23
    15 Year VA Purchase 5.68% 6/7/23
    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

    717

    Origination Dollar Volume (All Markets)

    $247,905,000
    Show all (14) awards

    Relative Rate

    First Western Bank & Trust's average 30 year fixed mortgage rate was 4.76%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0%.

    Relative Fees (Closing Costs)

    First Western Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $4,804.

    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 $4,750.

    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) 176 $53,940,000 $306,477 $4,579 4.57%
    BISMARCK, ND (FHA|USDA|VA) 60 $40,550,000 $675,833 $4,666 4.89%
    Alexandria, MN (FHA|USDA|VA) 72 $39,420,000 $547,500 $3,960 4.70%
    Brainerd, MN (FHA|USDA|VA) 139 $33,185,000 $238,741 $4,589 4.75%
    Minot, ND (FHA|USDA|VA) 86 $25,540,000 $296,977 $3,991 4.72%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 25 $19,825,000 $793,000 $5,839 4.94%
    Outside of Metro Areas 95 $18,335,000 $193,000 $4,324 4.63%
    Fergus Falls, MN (FHA|USDA|VA) 11 $3,115,000 $283,182 $5,334 4.34%
    SIOUX FALLS, SD (FHA|USDA|VA) 6 $1,440,000 $240,000 $1,930 4.17%
    ST. CLOUD, MN (FHA|USDA|VA) 6 $1,120,000 $186,667 $4,304 5.02%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $935,000 $935,000 $0 4.25%
    Willmar, MN (FHA|USDA|VA) 3 $925,000 $308,333 $3,860 4.71%
    Bozeman, MT (FHA|USDA|VA) 2 $780,000 $390,000 $6,348 4.52%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 4 $750,000 $187,500 $3,452 3.83%
    Wahpeton, ND-MN (FHA|USDA|VA) 5 $685,000 $137,000 $6,009 3.82%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $560,000 $280,000 $5,300 5.10%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $545,000 $545,000 $8,755 4.88%
    RAPID CITY, SD (FHA|USDA|VA) 1 $505,000 $505,000 $5,790 3.13%
    Grand Rapids, MN (FHA|USDA|VA) 3 $485,000 $161,667 $4,884 5.54%
    Kalispell, MT (FHA|USDA|VA) 1 $455,000 $455,000 $7,496 6.13%
    Moses Lake, WA (FHA|USDA|VA) 1 $455,000 $455,000 $4,431 3.13%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $445,000 $445,000 $8,134 5.38%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $425,000 $425,000 $4,099 4.50%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $425,000 $425,000 $9,068 4.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $365,000 $365,000 $6,179 3.50%
    Marshall, MN (FHA|USDA|VA) 1 $355,000 $355,000 $7,505 2.63%
    Jamestown, ND (FHA|USDA|VA) 1 $345,000 $345,000 $4,424 2.38%
    McAlester, OK (FHA|USDA|VA) 1 $305,000 $305,000 $0 4.52%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $295,000 $295,000 $3,887 4.88%
    Dickinson, ND (FHA|USDA|VA) 1 $295,000 $295,000 $5,378 5.00%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $230,000 $115,000 $7,304 5.00%
    Cullowhee, NC (FHA|USDA|VA) 1 $205,000 $205,000 $4,982 3.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $180,000 $90,000 $0 6.50%
    YUMA, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $4,810 3.25%
    Watertown, SD (FHA|USDA|VA) 1 $155,000 $155,000 $2,968 5.38%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,457 4.88%
    First Western Bank & Trust's top markets include Fargo, Bismarck, Alexandria, Brainerd, and Minot among others.

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

    Farmers & Merchants Savings Bank
    Similarity Rank: 384
    Dacotah Bank
    Similarity Rank: 476
    Dakota Community Bank & Trust
    Similarity Rank: 616
    American Bank Center
    Similarity Rank: 666
    Cf Bank
    Similarity Rank: 777
    MY Credit Union
    Similarity Rank: 800
    Western State Bank
    Similarity Rank: 817
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 980
    Liberty Bank Minnesota
    Similarity Rank: 1040
    South Metro Federal Credit Union
    Similarity Rank: 1047

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 627 $228,435,000 $364,330 $4,084 4.69%
    FHA 45 $9,605,000 $213,444 $7,310 4.76%
    VA 24 $6,350,000 $264,583 $5,666 4.12%
    USDA 21 $3,515,000 $167,381 $5,444 4.55%

    For 2022, First Western Bank & Trust's most frequently originated type of loan was Conventional, with 627 originations. Their 2nd most popular type was FHA, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 558 $179,250,000 $321,237 $4,816 4.76%
    Refi 90 $55,650,000 $618,333 $3,350 4.27%
    Cash Out Refi 38 $8,550,000 $225,000 $4,416 4.06%
    Home Improvement 19 $2,225,000 $117,105 $1,894 4.90%
    Other 12 $2,230,000 $185,833 $2,325 5.22%

    For 2022, First Western Bank & Trust's most frequently cited loan purpose was Home Purchase, with 558 originations. The 2nd most popular reason was Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 440 $115,400,000 $262,273 $4,804 4.76%
    Other 127 $66,895,000 $526,732 $2,574 4.67%
    5 Year 93 $35,275,000 $379,301 $0 4.70%
    15 Year 31 $7,135,000 $230,161 $3,932 3.66%
    20 Year 12 $2,610,000 $217,500 $4,242 3.90%
    1 Year 9 $1,445,000 $160,556 $1,904 5.28%
    10 Year 5 $19,145,000 $3,829,000 $2,341 4.03%

    For 2022, First Western Bank & Trust's most frequently cited loan duration was 30 Year, with 440 originations. The 2nd most popular length was Other, with 127 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 155 $33,885,000 $218,613
    $<1k 150 $33,820,000 $225,467
    $2k-3k 125 $29,175,000 $233,400
    $3k-4k 50 $15,640,000 $312,800
    $4k-5k 30 $11,350,000 $378,333
    $5k+ 21 $10,895,000 $518,810

    First Western Bank & Trust's average total fees were $4,804, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 155 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 239 $68,595,000 $287,008
    3-4% 196 $76,920,000 $392,449
    5-6% 172 $64,560,000 $375,349
    6-7% 70 $24,400,000 $348,571
    2.5-3% 30 $11,380,000 $379,333
    <2.5% 8 $1,700,000 $212,500
    7-8% 2 $350,000 $175,000

    During 2022, First Western Bank & Trust's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 294 $81,610,000 $277,585 $4,821 4.78%
    $100k-200k 241 $36,825,000 $152,801 $3,871 4.63%
    $100,000 or less 92 $5,890,000 $64,022 $2,315 4.83%
    $400k-600k 61 $29,095,000 $476,967 $5,963 4.31%
    $600k-1MM 15 $10,775,000 $718,333 $5,990 4.31%
    $1MM+ 14 $83,710,000 $5,979,286 $13,242 4.24%

    2022 saw First Western Bank & Trust place emphasis on $200k-400k loans with 294 originations, totaling $81,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 136 $25,540,000 $187,794 $4,336 4.64%
    $75k-100k 116 $28,040,000 $241,724 $4,567 4.87%
    $100k-150k 112 $30,070,000 $268,482 $4,805 4.78%
    $50k or less 82 $11,200,000 $136,585 $3,912 4.66%
    $150k-250k 67 $24,305,000 $362,761 $5,521 4.57%
    $250k+ 39 $14,855,000 $380,897 $4,772 4.64%

    First Western Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 136 originations. The second most popular income band? $75k-100k, with 116 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 138 $33,630,000 $243,696 $3,891 4.60%
    30-36% 120 $28,400,000 $236,667 $4,510 4.56%
    <20% 42 $8,740,000 $208,095 $3,455 4.56%
    39% 24 $6,730,000 $280,417 $4,563 4.94%
    38% 24 $5,370,000 $223,750 $5,479 4.80%
    43% 23 $6,005,000 $261,087 $5,112 4.89%
    42% 21 $5,195,000 $247,381 $4,589 4.58%
    40% 20 $6,390,000 $319,500 $4,812 4.74%
    47% 20 $4,970,000 $248,500 $6,036 4.49%
    41% 18 $4,380,000 $243,333 $3,952 4.85%
    49% 18 $4,550,000 $252,778 $4,526 5.28%
    44% 18 $5,130,000 $285,000 $4,854 5.00%
    36% 16 $4,170,000 $260,625 $4,667 4.90%
    45% 16 $4,680,000 $292,500 $4,076 4.66%
    46% 15 $3,875,000 $258,333 $5,597 5.03%
    50-60% 15 $3,325,000 $221,667 $4,843 4.81%
    37% 14 $3,130,000 $223,571 $4,781 5.04%
    48% 10 $2,590,000 $259,000 $6,178 4.65%
    >60% 4 $460,000 $115,000 $2,294 4.44%

    First Western Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 532 $131,140,000 $246,504 $4,486 4.69%
    Not applicable 138 $105,680,000 $765,797 $0 4.59%
    Not provided 23 $5,455,000 $237,174 $4,369 4.41%
    Asian 15 $3,485,000 $232,333 $4,324 5.15%
    American Indian 5 $1,445,000 $289,000 $5,147 5.12%
    Black 3 $485,000 $161,667 $4,314 4.80%
    Native Hawaiian or Islander 1 $215,000 $215,000 $4,658 4.50%

    Approval Rates

    Total approvals of all applications
    96.49%

    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 origination
    84.94%

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

    Points and Fees

    Points Originations Total Value Average Loan
    250.0 2 $60,000 $30,000
    279.6 1 $15,000 $15,000
    288.1 1 $35,000 $35,000
    309.2 1 $45,000 $45,000
    359.7 1 $305,000 $305,000
    NA 711 $247,445,000 $348,024

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    717 $247,905,000 $345,753

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $4,735,000 $135,286 $2,616 4.76%
    40-60% 88 $21,140,000 $240,227 $4,567 4.44%
    60-80% 253 $120,855,000 $477,688 $4,304 4.58%
    80-100% 321 $99,065,000 $308,614 $4,910 4.78%
    Over 100% 4 $1,150,000 $287,500 $5,216 4.91%
    Under 20% 16 $960,000 $60,000 $956 5.20%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%