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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.38% | 5/13/24 |
| 30 Year Conventional Refi | 6.36% | 5/13/24 |
| 30 Year Cash-out Refi | 6.52% | 5/13/24 |
| 30 Year FHA Purchase | 7.04% | 5/13/24 |
| 30 Year FHA Refi | 6.47% | 5/13/24 |
| 30 Year VA Purchase | 5.95% | 5/13/24 |
| 30 Year VA Refi | 5.81% | 5/13/24 |
| 30 Year USDA Purchase | 6.39% | 5/13/24 |
| 30 Year USDA Refi | 6.59% | 5/13/24 |
| 15 Year Conventional Purchase | 5.88% | 5/13/24 |
| 15 Year Conventional Refi | 5.88% | 5/13/24 |
| 15 Year Cash-out Refi | 5.88% | 5/13/24 |
| 15 Year FHA Refi | 5.68% | 5/13/24 |
| 15 Year VA Purchase | 5.68% | 5/13/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
717Origination Dollar Volume (All Markets)
$247,905,000Awards
First Western Bank & Trust - 2022
First Western Bank & Trust is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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 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
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
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
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
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
2022 saw First Western Bank & Trust place emphasis on $200k-400k loans with 294 originations, totaling $81,610,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.49%
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 origination84.94%
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 |
LTV Distribution
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% |