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. They have a low ratio of USDA loans. Their top markets by origination volume include: Rapid City, Pierre, Mitchell, Brookings, and Sioux Falls among others. We have data for 36 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 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 | 6.07% | 4/17/25 |
| 30 Year Conventional Refi | 6.55% | 4/17/25 |
| 30 Year Cash-out Refi | 6.72% | 4/17/25 |
| 30 Year FHA Purchase | 6.90% | 4/17/25 |
| 30 Year VA Purchase | 6.27% | 4/17/25 |
| 30 Year USDA Purchase | 6.57% | 4/17/25 |
| 15 Year Conventional Purchase | 8.74% | 4/17/25 |
| 15 Year Conventional Refi | 6.00% | 4/17/25 |
| 15 Year Cash-out Refi | 6.00% | 4/17/25 |
| 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. | ||
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
636Origination Dollar Volume (All Markets)
$139,780,000Awards
BANKWEST - 2024
BANKWEST is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Bankwest's average 30 year fixed mortgage rate was
5.98%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.57%.
Relative Fees (Closing Costs)
Bankwest's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,348.
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
Click or Hover to activate map
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 |
|---|---|---|---|---|---|
| RAPID CITY, SD (FHA|USDA|VA) | 94 | $51,570,000 | $548,617 | $5,510 | 7.62% |
| Outside of Metro Areas | 157 | $24,775,000 | $157,803 | $5,168 | 7.16% |
| Pierre, SD (FHA|USDA|VA) | 127 | $24,015,000 | $189,094 | $5,170 | 6.41% |
| Mitchell, SD (FHA|USDA|VA) | 30 | $8,120,000 | $270,667 | $3,594 | 6.70% |
| Brookings, SD (FHA|USDA|VA) | 6 | $6,190,000 | $1,031,667 | $6,758 | 8.08% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 49 | $5,715,000 | $116,633 | $3,421 | 8.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 72 | $5,450,000 | $75,694 | $0 | 8.53% |
| Spearfish, SD (FHA|USDA|VA) | 16 | $3,360,000 | $210,000 | $5,655 | 8.06% |
| BISMARCK, ND (FHA|USDA|VA) | 9 | $1,565,000 | $173,889 | $6,825 | 7.86% |
| Huron, SD (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $6,032 | 7.33% |
| Watertown, SD (FHA|USDA|VA) | 7 | $685,000 | $97,857 | $3,409 | 8.36% |
| Williston, ND (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $7,469 | 8.22% |
| Yankton, SD (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $8,729 | 7.25% |
| MANKATO, MN (FHA|USDA|VA) | 9 | $545,000 | $60,556 | $0 | 8.47% |
| Gillette, WY (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $7,804 | 7.72% |
| Aberdeen, SD (FHA|USDA|VA) | 6 | $480,000 | $80,000 | $2,465 | 7.43% |
| BILLINGS, MT (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 8.33% |
| Dickinson, ND (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,140 | 8.17% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $2,705 | 7.95% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $9,742 | 7.41% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,780 | 6.88% |
| Vermillion, SD (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $6,264 | 7.78% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,986 | 6.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,050 | 6.88% |
| Minot, ND (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 8.50% |
| FARGO, ND-MN (FHA|USDA|VA) | 4 | $190,000 | $47,500 | $0 | 8.31% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 8.75% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 8.50% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $0 | 8.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.00% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 8.25% |
| Rock Springs, WY (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 8.38% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.00% |
| Helena, MT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.00% |
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: 253
Similarity Rank: 324
Similarity Rank: 480
Similarity Rank: 480
Similarity Rank: 495
Similarity Rank: 550
Similarity Rank: 756
Similarity Rank: 820
Similarity Rank: 891
Similarity Rank: 986
Product Mix
For 2024, Bankwest's most frequently originated type of loan was Conventional, with 565 originations. Their 2nd most popular type was FHA, with 44 originations.
Loan Reason
For 2024, Bankwest's most frequently cited loan purpose was Home Purchase, with 503 originations. The 2nd most popular reason was Home Improvement, with 56 originations.
Loan Duration/Length
For 2024, Bankwest's most frequently cited loan duration was 30 Year, with 214 originations. The 2nd most popular length was 15 Year, with 154 originations.
Origination Fees/Closing Costs
Bankwest's average total fees were $6,348, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.
Interest Rates
During 2024, Bankwest's average interest rate for loans was 5.98%, while their most frequently originated rate bucket for loans was Over 8%, with 286 originations.
Loan Sizing
2024 saw Bankwest place emphasis on $100,000 or less loans with 302 originations, totaling $16,000,000 in origination value.
Applicant Income
Bankwest lent most frequently to those with incomes in the $50k-75k range, with 169 originations. The second most popular income band? $100k-150k, with 138 originations.
Applicant Debt to Income Ratio
Bankwest lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 123 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications61.40%
Bankwest has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination55.97%
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 |
|---|---|---|---|
| 1030.0 | 1 | $15,000 | $15,000 |
| 1100.0 | 2 | $40,000 | $20,000 |
| 1125.0 | 1 | $15,000 | $15,000 |
| 1150.0 | 1 | $15,000 | $15,000 |
| 1200.0 | 5 | $95,000 | $19,000 |
| 1225.0 | 2 | $60,000 | $30,000 |
| 1250.0 | 3 | $75,000 | $25,000 |
| 1300.0 | 6 | $150,000 | $25,000 |
| 1350.0 | 2 | $70,000 | $35,000 |
| 1400.0 | 2 | $50,000 | $25,000 |
| 1475.0 | 1 | $35,000 | $35,000 |
| 1500.0 | 1 | $35,000 | $35,000 |
| 1525.0 | 1 | $35,000 | $35,000 |
| 1580.0 | 1 | $35,000 | $35,000 |
| 1600.0 | 17 | $675,000 | $39,706 |
| 1608.0 | 1 | $45,000 | $45,000 |
| 1612.0 | 1 | $45,000 | $45,000 |
| 1615.86 | 1 | $45,000 | $45,000 |
| 1628.29 | 1 | $45,000 | $45,000 |
| 1633.73 | 1 | $45,000 | $45,000 |
| 1656.0 | 1 | $45,000 | $45,000 |
| 1658.68 | 1 | $45,000 | $45,000 |
| 1662.5 | 1 | $45,000 | $45,000 |
| 1665.47 | 1 | $45,000 | $45,000 |
| 1666.0 | 1 | $45,000 | $45,000 |
| 1672.66 | 1 | $45,000 | $45,000 |
| 1676.4 | 1 | $45,000 | $45,000 |
| 1680.0 | 1 | $45,000 | $45,000 |
| 1686.0 | 1 | $45,000 | $45,000 |
| 1696.0 | 1 | $45,000 | $45,000 |
| 1697.54 | 1 | $45,000 | $45,000 |
| 1698.07 | 1 | $45,000 | $45,000 |
| 1700.0 | 1 | $45,000 | $45,000 |
| 1712.58 | 1 | $45,000 | $45,000 |
| 1712.74 | 1 | $45,000 | $45,000 |
| 1726.57 | 1 | $45,000 | $45,000 |
| 1734.35 | 1 | $45,000 | $45,000 |
| 1734.72 | 1 | $45,000 | $45,000 |
| 1744.15 | 1 | $45,000 | $45,000 |
| 1747.64 | 1 | $45,000 | $45,000 |
| 1749.3 | 1 | $45,000 | $45,000 |
| 1751.73 | 1 | $45,000 | $45,000 |
| 1759.16 | 1 | $45,000 | $45,000 |
| 1760.28 | 1 | $45,000 | $45,000 |
| 1776.0 | 1 | $45,000 | $45,000 |
| 1777.06 | 1 | $45,000 | $45,000 |
| 1816.0 | 2 | $110,000 | $55,000 |
| 1817.95 | 1 | $55,000 | $55,000 |
| 1824.0 | 1 | $55,000 | $55,000 |
| 1824.19 | 1 | $55,000 | $55,000 |
| 1832.0 | 1 | $55,000 | $55,000 |
| 1832.6 | 1 | $55,000 | $55,000 |
| 1835.69 | 1 | $55,000 | $55,000 |
| 1837.84 | 1 | $55,000 | $55,000 |
| 1840.9 | 1 | $55,000 | $55,000 |
| 1844.56 | 1 | $55,000 | $55,000 |
| 1850.64 | 1 | $55,000 | $55,000 |
| 1853.51 | 1 | $55,000 | $55,000 |
| 1867.02 | 1 | $55,000 | $55,000 |
| 1868.17 | 1 | $55,000 | $55,000 |
| 1906.55 | 1 | $55,000 | $55,000 |
| 1922.1 | 1 | $55,000 | $55,000 |
| 1925.27 | 1 | $55,000 | $55,000 |
| 1931.2 | 1 | $55,000 | $55,000 |
| 1935.38 | 1 | $55,000 | $55,000 |
| 1938.0 | 1 | $55,000 | $55,000 |
| 1944.3 | 1 | $55,000 | $55,000 |
| 1950.88 | 1 | $55,000 | $55,000 |
| 1952.38 | 1 | $55,000 | $55,000 |
| 1956.0 | 1 | $55,000 | $55,000 |
| 1958.04 | 1 | $55,000 | $55,000 |
| 1958.06 | 1 | $55,000 | $55,000 |
| 1971.36 | 1 | $55,000 | $55,000 |
| 1974.92 | 1 | $55,000 | $55,000 |
| 1975.05 | 1 | $55,000 | $55,000 |
| 1991.69 | 1 | $65,000 | $65,000 |
| 2004.3 | 1 | $65,000 | $65,000 |
| 2006.0 | 1 | $65,000 | $65,000 |
| 2018.43 | 1 | $65,000 | $65,000 |
| 2026.0 | 1 | $65,000 | $65,000 |
| 2067.74 | 1 | $65,000 | $65,000 |
| 2076.4 | 1 | $65,000 | $65,000 |
| 2077.57 | 1 | $65,000 | $65,000 |
| 2078.8 | 1 | $65,000 | $65,000 |
| 2084.19 | 1 | $65,000 | $65,000 |
| 2092.77 | 1 | $65,000 | $65,000 |
| 2096.0 | 1 | $65,000 | $65,000 |
| 2099.44 | 1 | $65,000 | $65,000 |
| 2101.53 | 1 | $65,000 | $65,000 |
| 2127.12 | 1 | $65,000 | $65,000 |
| 2151.98 | 1 | $65,000 | $65,000 |
| 2160.4 | 1 | $65,000 | $65,000 |
| 2161.61 | 1 | $65,000 | $65,000 |
| 2166.0 | 1 | $65,000 | $65,000 |
| 2170.94 | 1 | $65,000 | $65,000 |
| 2174.83 | 1 | $75,000 | $75,000 |
| 2178.26 | 1 | $75,000 | $75,000 |
| 2182.16 | 1 | $75,000 | $75,000 |
| 2186.93 | 1 | $75,000 | $75,000 |
| 2191.84 | 1 | $75,000 | $75,000 |
| 2199.97 | 1 | $75,000 | $75,000 |
| 2204.22 | 1 | $75,000 | $75,000 |
| 2208.4 | 1 | $75,000 | $75,000 |
| 2231.76 | 1 | $75,000 | $75,000 |
| 2242.64 | 1 | $75,000 | $75,000 |
| 2244.0 | 1 | $75,000 | $75,000 |
| 2256.0 | 1 | $75,000 | $75,000 |
| 2261.57 | 1 | $75,000 | $75,000 |
| 2271.49 | 1 | $75,000 | $75,000 |
| 2277.77 | 1 | $75,000 | $75,000 |
| 2278.35 | 1 | $75,000 | $75,000 |
| 2300.23 | 1 | $75,000 | $75,000 |
| 2304.6 | 1 | $75,000 | $75,000 |
| 2308.1 | 1 | $75,000 | $75,000 |
| 2319.47 | 1 | $75,000 | $75,000 |
| 2344.3 | 1 | $75,000 | $75,000 |
| 2360.08 | 1 | $75,000 | $75,000 |
| 2368.39 | 1 | $75,000 | $75,000 |
| 2368.65 | 1 | $85,000 | $85,000 |
| 2376.0 | 1 | $85,000 | $85,000 |
| 2396.4 | 1 | $85,000 | $85,000 |
| 2407.14 | 1 | $85,000 | $85,000 |
| 2407.76 | 1 | $85,000 | $85,000 |
| 2410.79 | 1 | $85,000 | $85,000 |
| 2412.38 | 1 | $85,000 | $85,000 |
| 2417.71 | 1 | $85,000 | $85,000 |
| 2432.49 | 1 | $85,000 | $85,000 |
| 2455.73 | 1 | $85,000 | $85,000 |
| 2460.57 | 1 | $85,000 | $85,000 |
| 2472.51 | 1 | $85,000 | $85,000 |
| 2474.0 | 1 | $85,000 | $85,000 |
| 2479.49 | 1 | $85,000 | $85,000 |
| 2483.06 | 1 | $85,000 | $85,000 |
| 2488.4 | 1 | $85,000 | $85,000 |
| 2517.32 | 1 | $85,000 | $85,000 |
| 2535.68 | 1 | $85,000 | $85,000 |
| 2562.66 | 1 | $85,000 | $85,000 |
| 2578.07 | 1 | $95,000 | $95,000 |
| 2584.56 | 1 | $95,000 | $95,000 |
| 2603.85 | 1 | $95,000 | $95,000 |
| 2662.84 | 1 | $95,000 | $95,000 |
| 2664.2 | 1 | $95,000 | $95,000 |
| 2685.6 | 1 | $95,000 | $95,000 |
| 2704.01 | 1 | $95,000 | $95,000 |
| 2715.13 | 1 | $95,000 | $95,000 |
| 2720.0 | 1 | $95,000 | $95,000 |
| 2726.84 | 1 | $95,000 | $95,000 |
| 2731.82 | 1 | $95,000 | $95,000 |
| 2738.98 | 1 | $95,000 | $95,000 |
| 2742.0 | 1 | $95,000 | $95,000 |
| 2742.93 | 1 | $95,000 | $95,000 |
| 2762.23 | 1 | $105,000 | $105,000 |
| 2765.27 | 1 | $105,000 | $105,000 |
| 2766.44 | 1 | $105,000 | $105,000 |
| 2770.36 | 1 | $105,000 | $105,000 |
| 2771.09 | 1 | $105,000 | $105,000 |
| 2790.4 | 1 | $105,000 | $105,000 |
| 2815.56 | 1 | $105,000 | $105,000 |
| 2819.6 | 1 | $105,000 | $105,000 |
| 2820.9 | 1 | $105,000 | $105,000 |
| 2837.89 | 1 | $105,000 | $105,000 |
| 2854.38 | 1 | $105,000 | $105,000 |
| 2899.51 | 1 | $105,000 | $105,000 |
| 2904.56 | 1 | $105,000 | $105,000 |
| 2905.82 | 1 | $105,000 | $105,000 |
| 2938.14 | 1 | $105,000 | $105,000 |
| 2969.97 | 1 | $115,000 | $115,000 |
| 2974.0 | 1 | $115,000 | $115,000 |
| 2986.0 | 1 | $115,000 | $115,000 |
| 2989.7 | 1 | $115,000 | $115,000 |
| 3023.89 | 1 | $115,000 | $115,000 |
| 3029.24 | 1 | $115,000 | $115,000 |
| 3036.0 | 1 | $115,000 | $115,000 |
| 3041.2 | 1 | $115,000 | $115,000 |
| 3050.2 | 1 | $115,000 | $115,000 |
| 3066.25 | 1 | $115,000 | $115,000 |
| 3068.5 | 1 | $115,000 | $115,000 |
| 3079.06 | 1 | $115,000 | $115,000 |
| 3110.49 | 1 | $115,000 | $115,000 |
| 3117.92 | 1 | $115,000 | $115,000 |
| 3126.06 | 1 | $115,000 | $115,000 |
| 3147.75 | 1 | $115,000 | $115,000 |
| 3158.95 | 1 | $125,000 | $125,000 |
| 3178.93 | 1 | $125,000 | $125,000 |
| 3181.44 | 1 | $125,000 | $125,000 |
| 3216.05 | 1 | $125,000 | $125,000 |
| 3251.2 | 1 | $125,000 | $125,000 |
| 3270.5 | 1 | $125,000 | $125,000 |
| 3289.15 | 1 | $125,000 | $125,000 |
| 3293.46 | 1 | $125,000 | $125,000 |
| 3329.43 | 1 | $125,000 | $125,000 |
| 3378.0 | 1 | $135,000 | $135,000 |
| 3442.46 | 1 | $135,000 | $135,000 |
| 3510.9 | 1 | $135,000 | $135,000 |
| 3567.59 | 1 | $145,000 | $145,000 |
| 3587.77 | 1 | $145,000 | $145,000 |
| 3615.9 | 1 | $135,000 | $135,000 |
| 3627.26 | 1 | $145,000 | $145,000 |
| 3665.55 | 1 | $145,000 | $145,000 |
| 3710.88 | 1 | $145,000 | $145,000 |
| 3712.85 | 1 | $145,000 | $145,000 |
| 3746.06 | 1 | $155,000 | $155,000 |
| 3773.29 | 1 | $155,000 | $155,000 |
| 3774.71 | 1 | $155,000 | $155,000 |
| 3792.4 | 1 | $155,000 | $155,000 |
| 3812.75 | 1 | $155,000 | $155,000 |
| 3859.1 | 1 | $155,000 | $155,000 |
| 3860.85 | 1 | $155,000 | $155,000 |
| 3934.2 | 1 | $155,000 | $155,000 |
| 4030.36 | 1 | $165,000 | $165,000 |
| 4046.8 | 1 | $165,000 | $165,000 |
| 4158.72 | 1 | $175,000 | $175,000 |
| 4211.67 | 1 | $175,000 | $175,000 |
| 4238.48 | 1 | $175,000 | $175,000 |
| 4290.04 | 1 | $175,000 | $175,000 |
| 4387.21 | 1 | $185,000 | $185,000 |
| 4387.8 | 1 | $185,000 | $185,000 |
| 4415.94 | 1 | $185,000 | $185,000 |
| 4428.01 | 1 | $185,000 | $185,000 |
| 4428.96 | 1 | $185,000 | $185,000 |
| 4504.15 | 1 | $185,000 | $185,000 |
| 5118.56 | 1 | $225,000 | $225,000 |
| 5305.51 | 1 | $225,000 | $225,000 |
| 5307.35 | 1 | $225,000 | $225,000 |
| 5396.07 | 1 | $235,000 | $235,000 |
| 5622.21 | 1 | $245,000 | $245,000 |
| 5674.2 | 1 | $245,000 | $245,000 |
| 6226.93 | 1 | $275,000 | $275,000 |
| 800.0 | 5 | $245,000 | $49,000 |
| NA | 371 | $118,115,000 | $318,369 |