Bankwest Mortgage Rates, Fees & Info
PIERRE, SDLEI: 5493007YN2BYYXCI7W64
Tax ID: 46-0177475
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Mortgage Data
Review & Overview
Bankwest is a smaller bank specializing in Home Purchase loans. Bankwest has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Pierre, Rapid City, Mitchell, Sioux Falls, and Minneapolis among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankwest has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bankwest 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.
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 | 6.58% | 4/21/24 |
| 30 Year Conventional Refi | 6.35% | 4/21/24 |
| 30 Year Cash-out Refi | 7.00% | 4/21/24 |
| 30 Year FHA Purchase | 7.06% | 4/21/24 |
| 30 Year VA Purchase | 6.12% | 4/21/24 |
| 30 Year VA Refi | 6.06% | 4/21/24 |
| 30 Year USDA Purchase | 6.39% | 4/21/24 |
| 15 Year Conventional Purchase | 8.73% | 4/21/24 |
| 15 Year Conventional Refi | 7.74% | 4/21/24 |
| 15 Year Cash-out Refi | 7.74% | 4/21/24 |
| 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. | ||
Bankwest Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Bankwest. 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
531Origination Dollar Volume (All Markets)
$74,935,000Awards
BANKWEST - 2023
BANKWEST is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Bankwest's average 30 year fixed mortgage rate was
6.16%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.32%.
Relative Fees (Closing Costs)
Bankwest's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,685.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 142 | $19,720,000 | $138,873 | $4,187 | 7.13% |
| Pierre, SD (FHA|USDA|VA) | 112 | $19,630,000 | $175,268 | $4,528 | 6.75% |
| RAPID CITY, SD (FHA|USDA|VA) | 82 | $11,490,000 | $140,122 | $4,664 | 7.77% |
| Mitchell, SD (FHA|USDA|VA) | 28 | $4,940,000 | $176,429 | $4,340 | 6.16% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 37 | $4,515,000 | $122,027 | $5,416 | 8.31% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 50 | $3,970,000 | $79,400 | $13,762 | 8.30% |
| Spearfish, SD (FHA|USDA|VA) | 23 | $2,805,000 | $121,957 | $3,952 | 8.18% |
| Huron, SD (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $9,364 | 8.33% |
| Aberdeen, SD (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $6,728 | 7.17% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $9,792 | 6.56% |
| Gillette, WY (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $7,423 | 5.88% |
| BILLINGS, MT (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $7,778 | 7.33% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $3,246 | 6.50% |
| Minot, ND (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 9.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $9,522 | 7.36% |
| Watertown, SD (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $4,716 | 8.50% |
| Hutchinson, MN (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $0 | 8.35% |
| MANKATO, MN (FHA|USDA|VA) | 7 | $295,000 | $42,143 | $0 | 8.69% |
| Yankton, SD (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,367 | 7.81% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 8.35% |
| Dickinson, ND (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 8.60% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,871 | 6.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 8.10% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,985 | 8.10% |
| Williston, ND (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $3,803 | 8.56% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.85% |
| Riverton, WY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 8.35% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 8.10% |
| BISMARCK, ND (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $1,925 | 8.50% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 8.35% |
| Brookings, SD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,285 | 7.60% |
| Helena, MT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.85% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.25% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.85% |
Similar Lenders
We use machine learning to identify the top lenders compared against BANKWEST based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 120
Similarity Rank: 276
Similarity Rank: 299
Similarity Rank: 506
Similarity Rank: 578
Similarity Rank: 594
Similarity Rank: 650
Similarity Rank: 782
Similarity Rank: 816
Similarity Rank: 850
Product Mix
For 2023, Bankwest's most frequently originated type of loan was Conventional, with 469 originations. Their 2nd most popular type was FHA, with 25 originations.
Loan Reason
For 2023, Bankwest's most frequently cited loan purpose was Home Purchase, with 416 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.
Loan Duration/Length
For 2023, Bankwest's most frequently cited loan duration was 30 Year, with 188 originations. The 2nd most popular length was 15 Year, with 138 originations.
Origination Fees/Closing Costs
Bankwest's average total fees were $5,685, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 111 originations.
Interest Rates
During 2023, Bankwest's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was Over 8%, with 215 originations.
Loan Sizing
2023 saw Bankwest place emphasis on $100,000 or less loans with 255 originations, totaling $14,315,000 in origination value.
Applicant Income
Bankwest lent most frequently to those with incomes in the $50k-75k range, with 140 originations. The second most popular income band? $100k-150k, with 120 originations.
Applicant Debt to Income Ratio
Bankwest lent most frequently to those with DTI ratios of 30-36%, with 114 originations. The next most common DTI ratio? 20-30%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications54.09%
Bankwest has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination68.93%
Bankwest has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1060.0 | 5 | $115,000 | $23,000 |
| 1080.0 | 1 | $15,000 | $15,000 |
| 1100.0 | 3 | $75,000 | $25,000 |
| 1108.85 | 1 | $25,000 | $25,000 |
| 1152.51 | 1 | $35,000 | $35,000 |
| 1350.0 | 1 | $25,000 | $25,000 |
| 1354.55 | 1 | $45,000 | $45,000 |
| 1392.94 | 1 | $45,000 | $45,000 |
| 1413.02 | 1 | $35,000 | $35,000 |
| 1439.54 | 1 | $45,000 | $45,000 |
| 1487.76 | 1 | $35,000 | $35,000 |
| 1489.44 | 1 | $45,000 | $45,000 |
| 1500.0 | 3 | $105,000 | $35,000 |
| 1520.6 | 1 | $45,000 | $45,000 |
| 1587.86 | 1 | $55,000 | $55,000 |
| 1590.0 | 3 | $105,000 | $35,000 |
| 1591.53 | 1 | $55,000 | $55,000 |
| 1592.26 | 1 | $55,000 | $55,000 |
| 1600.0 | 5 | $185,000 | $37,000 |
| 1613.68 | 1 | $45,000 | $45,000 |
| 1618.37 | 1 | $45,000 | $45,000 |
| 1634.1 | 1 | $45,000 | $45,000 |
| 1639.08 | 1 | $45,000 | $45,000 |
| 1660.95 | 1 | $45,000 | $45,000 |
| 1662.0 | 1 | $45,000 | $45,000 |
| 1674.94 | 1 | $45,000 | $45,000 |
| 1692.15 | 1 | $55,000 | $55,000 |
| 1693.18 | 1 | $55,000 | $55,000 |
| 1698.35 | 1 | $45,000 | $45,000 |
| 1705.54 | 1 | $45,000 | $45,000 |
| 1718.8 | 1 | $45,000 | $45,000 |
| 1719.17 | 1 | $45,000 | $45,000 |
| 1729.62 | 1 | $45,000 | $45,000 |
| 1729.82 | 1 | $45,000 | $45,000 |
| 1745.0 | 1 | $45,000 | $45,000 |
| 1749.96 | 1 | $55,000 | $55,000 |
| 1753.56 | 1 | $55,000 | $55,000 |
| 1756.0 | 1 | $55,000 | $55,000 |
| 1763.16 | 1 | $45,000 | $45,000 |
| 1771.47 | 1 | $65,000 | $65,000 |
| 1776.0 | 1 | $45,000 | $45,000 |
| 1780.32 | 1 | $45,000 | $45,000 |
| 1786.42 | 1 | $55,000 | $55,000 |
| 1804.35 | 1 | $55,000 | $55,000 |
| 1804.51 | 1 | $55,000 | $55,000 |
| 1809.25 | 1 | $65,000 | $65,000 |
| 1814.0 | 1 | $55,000 | $55,000 |
| 1818.8 | 1 | $55,000 | $55,000 |
| 1819.2 | 1 | $65,000 | $65,000 |
| 1826.96 | 1 | $65,000 | $65,000 |
| 1836.0 | 1 | $55,000 | $55,000 |
| 1837.63 | 1 | $65,000 | $65,000 |
| 1848.05 | 1 | $55,000 | $55,000 |
| 1861.27 | 1 | $65,000 | $65,000 |
| 1864.55 | 1 | $55,000 | $55,000 |
| 1870.34 | 1 | $55,000 | $55,000 |
| 1872.9 | 1 | $65,000 | $65,000 |
| 1895.16 | 1 | $55,000 | $55,000 |
| 1911.08 | 1 | $55,000 | $55,000 |
| 1924.87 | 1 | $55,000 | $55,000 |
| 1929.64 | 1 | $55,000 | $55,000 |
| 1930.0 | 1 | $55,000 | $55,000 |
| 1932.1 | 1 | $55,000 | $55,000 |
| 1934.92 | 1 | $55,000 | $55,000 |
| 1940.75 | 1 | $55,000 | $55,000 |
| 1948.0 | 1 | $55,000 | $55,000 |
| 1951.53 | 1 | $75,000 | $75,000 |
| 1954.3 | 1 | $75,000 | $75,000 |
| 1979.18 | 1 | $65,000 | $65,000 |
| 1986.0 | 1 | $65,000 | $65,000 |
| 2000.9 | 1 | $75,000 | $75,000 |
| 2006.59 | 1 | $65,000 | $65,000 |
| 2013.14 | 1 | $75,000 | $75,000 |
| 2013.6 | 1 | $65,000 | $65,000 |
| 2015.6 | 1 | $65,000 | $65,000 |
| 2019.42 | 1 | $65,000 | $65,000 |
| 2025.6 | 1 | $75,000 | $75,000 |
| 2026.76 | 1 | $75,000 | $75,000 |
| 2028.98 | 1 | $65,000 | $65,000 |
| 2044.94 | 1 | $65,000 | $65,000 |
| 2046.0 | 1 | $65,000 | $65,000 |
| 2078.35 | 1 | $65,000 | $65,000 |
| 2091.0 | 1 | $65,000 | $65,000 |
| 2093.5 | 1 | $65,000 | $65,000 |
| 2096.0 | 1 | $65,000 | $65,000 |
| 2116.48 | 1 | $65,000 | $65,000 |
| 2131.93 | 1 | $65,000 | $65,000 |
| 2137.92 | 1 | $65,000 | $65,000 |
| 2149.82 | 1 | $85,000 | $85,000 |
| 2168.08 | 1 | $65,000 | $65,000 |
| 2206.42 | 1 | $75,000 | $75,000 |
| 2208.17 | 1 | $75,000 | $75,000 |
| 2211.01 | 1 | $85,000 | $85,000 |
| 2226.6 | 1 | $75,000 | $75,000 |
| 2239.8 | 1 | $85,000 | $85,000 |
| 2250.78 | 1 | $75,000 | $75,000 |
| 2252.01 | 1 | $75,000 | $75,000 |
| 2254.09 | 1 | $75,000 | $75,000 |
| 2261.0 | 1 | $75,000 | $75,000 |
| 2264.42 | 1 | $75,000 | $75,000 |
| 2265.0 | 1 | $75,000 | $75,000 |
| 2265.08 | 1 | $85,000 | $85,000 |
| 2274.05 | 1 | $75,000 | $75,000 |
| 2312.0 | 1 | $75,000 | $75,000 |
| 2313.56 | 1 | $75,000 | $75,000 |
| 2315.95 | 1 | $55,000 | $55,000 |
| 2321.3 | 1 | $85,000 | $85,000 |
| 2326.44 | 1 | $75,000 | $75,000 |
| 2344.3 | 1 | $75,000 | $75,000 |
| 2349.99 | 1 | $75,000 | $75,000 |
| 2375.69 | 1 | $95,000 | $95,000 |
| 2379.45 | 1 | $85,000 | $85,000 |
| 2386.94 | 1 | $85,000 | $85,000 |
| 2402.51 | 1 | $85,000 | $85,000 |
| 2403.22 | 1 | $85,000 | $85,000 |
| 2404.58 | 1 | $95,000 | $95,000 |
| 2409.93 | 1 | $85,000 | $85,000 |
| 2419.29 | 1 | $85,000 | $85,000 |
| 2434.2 | 1 | $85,000 | $85,000 |
| 2435.91 | 1 | $85,000 | $85,000 |
| 2439.65 | 1 | $85,000 | $85,000 |
| 2482.62 | 1 | $85,000 | $85,000 |
| 2492.32 | 1 | $85,000 | $85,000 |
| 2492.89 | 1 | $85,000 | $85,000 |
| 2513.71 | 1 | $85,000 | $85,000 |
| 2514.34 | 1 | $85,000 | $85,000 |
| 2528.02 | 1 | $85,000 | $85,000 |
| 2531.5 | 1 | $85,000 | $85,000 |
| 2540.22 | 1 | $85,000 | $85,000 |
| 2578.54 | 1 | $95,000 | $95,000 |
| 2587.06 | 1 | $95,000 | $95,000 |
| 2628.26 | 1 | $95,000 | $95,000 |
| 2645.08 | 1 | $105,000 | $105,000 |
| 2647.22 | 1 | $95,000 | $95,000 |
| 2668.48 | 1 | $95,000 | $95,000 |
| 2687.4 | 1 | $95,000 | $95,000 |
| 2699.82 | 1 | $105,000 | $105,000 |
| 2715.21 | 1 | $95,000 | $95,000 |
| 2726.02 | 1 | $95,000 | $95,000 |
| 2731.2 | 1 | $115,000 | $115,000 |
| 2789.86 | 1 | $115,000 | $115,000 |
| 2793.83 | 1 | $65,000 | $65,000 |
| 2798.49 | 1 | $105,000 | $105,000 |
| 2814.73 | 1 | $115,000 | $115,000 |
| 2818.72 | 1 | $105,000 | $105,000 |
| 2825.26 | 1 | $115,000 | $115,000 |
| 2858.82 | 1 | $105,000 | $105,000 |
| 2867.93 | 1 | $115,000 | $115,000 |
| 2880.39 | 1 | $105,000 | $105,000 |
| 2897.98 | 1 | $115,000 | $115,000 |
| 2911.88 | 1 | $105,000 | $105,000 |
| 2941.57 | 1 | $105,000 | $105,000 |
| 2958.61 | 1 | $115,000 | $115,000 |
| 3002.5 | 1 | $115,000 | $115,000 |
| 3013.44 | 1 | $115,000 | $115,000 |
| 3043.48 | 1 | $115,000 | $115,000 |
| 3060.72 | 1 | $115,000 | $115,000 |
| 3068.86 | 1 | $125,000 | $125,000 |
| 3080.38 | 1 | $125,000 | $125,000 |
| 3086.14 | 1 | $115,000 | $115,000 |
| 3088.11 | 1 | $105,000 | $105,000 |
| 3159.06 | 1 | $125,000 | $125,000 |
| 3170.38 | 1 | $125,000 | $125,000 |
| 3173.37 | 1 | $125,000 | $125,000 |
| 3174.29 | 1 | $125,000 | $125,000 |
| 3248.34 | 1 | $125,000 | $125,000 |
| 3310.99 | 1 | $145,000 | $145,000 |
| 3317.62 | 1 | $125,000 | $125,000 |
| 3331.97 | 1 | $125,000 | $125,000 |
| 3371.72 | 1 | $125,000 | $125,000 |
| 3500.79 | 1 | $135,000 | $135,000 |
| 3530.4 | 1 | $135,000 | $135,000 |
| 3567.54 | 1 | $85,000 | $85,000 |
| 3600.76 | 1 | $145,000 | $145,000 |
| 3638.72 | 1 | $155,000 | $155,000 |
| 3640.5 | 1 | $155,000 | $155,000 |
| 3728.64 | 1 | $165,000 | $165,000 |
| 3823.36 | 1 | $165,000 | $165,000 |
| 3897.1 | 1 | $155,000 | $155,000 |
| 3916.0 | 1 | $155,000 | $155,000 |
| 4031.63 | 1 | $175,000 | $175,000 |
| 4081.11 | 1 | $165,000 | $165,000 |
| 4098.0 | 1 | $165,000 | $165,000 |
| 4294.61 | 1 | $195,000 | $195,000 |
| 4343.75 | 1 | $195,000 | $195,000 |
| 4503.69 | 1 | $205,000 | $205,000 |
| 4724.19 | 1 | $205,000 | $205,000 |
| 4851.21 | 1 | $215,000 | $215,000 |
| 4956.0 | 1 | $215,000 | $215,000 |
| 5296.72 | 1 | $245,000 | $245,000 |
| 5344.3 | 1 | $245,000 | $245,000 |
| 5471.02 | 1 | $255,000 | $255,000 |
| 5576.92 | 1 | $255,000 | $255,000 |
| 5899.83 | 1 | $265,000 | $265,000 |
| 800.0 | 3 | $145,000 | $48,333 |
| 950.0 | 1 | $15,000 | $15,000 |
| NA | 319 | $57,355,000 | $179,796 |