First Montana Bank Mortgage Rates, Fees & Info
Missoula, MTLEI: 5493005XIMS68J4ZQ284
Tax ID: 81-0159247
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Mortgage Data
Review & Overview
First Montana Bank is a smaller bank specializing in Refi and Home Purchase loans. First Montana Bank 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.) Their top markets by origination volume include: Missoula, Bozeman, Butte, Helena, and Great Falls among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)First Montana Bank 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.
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Originations
107Origination Dollar Volume (All Markets)
$25,615,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 51 | $11,205,000 | $219,706 | $0 | 0.00% |
| MISSOULA, MT (FHA|USDA|VA) | 11 | $4,085,000 | $371,364 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 5 | $2,655,000 | $531,000 | $0 | 0.00% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 24 | $2,260,000 | $94,167 | $0 | 0.00% |
| Helena, MT (FHA|USDA|VA) | 8 | $2,050,000 | $256,250 | $0 | 0.00% |
| GREAT FALLS, MT (FHA|USDA|VA) | 2 | $1,650,000 | $825,000 | $0 | 0.00% |
| Astoria, OR (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 0.00% |
| Kalispell, MT (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 103 | $24,465,000 | $237,524 | $0 | 0.00% |
| FHA | 4 | $1,150,000 | $287,500 | $0 | 0.00% |
For 2023, First Montana Bank's most frequently originated type of loan was Conventional, with 103 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2023, First Montana Bank's most frequently cited loan purpose was Refi, with 58 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 107 | $25,615,000 | $239,393 | $0 | 0.00% |
For 2023, First Montana Bank's most frequently cited loan duration was Other, with 107 originations.
Loan Sizing
2023 saw First Montana Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,645,000 in origination value.
Applicant Income
First Montana Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 107 | $25,615,000 | $239,393 | $0 | 0.00% |
First Montana Bank lent most frequently to those with DTI ratios of Exempt%, with 107 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.56%
First Montana Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.85%
First Montana Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 107 | $25,615,000 | $239,393 |