First Interstate Bank Mortgage Rates, Fees & Info
Billings, MTLEI: 549300RFSMIRUODUVW59
Tax ID: 81-0192860
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Mortgage Data
Review & Overview
First Interstate Bank is a smaller bank specializing in Home Improvement, Refi, and Home Purchase loans. First Interstate 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Bend, Missoula, Kalispell, Bozeman, and Boise City among others. We have data for 102 markets. (Some data included below & more in-depth data is available with an active subscription.)First Interstate Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Interstate Bank 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 7.01% | 4/5/25 |
| 30 Year Conventional Refi | 7.14% | 4/5/25 |
| 30 Year Cash-out Refi | 7.45% | 4/5/25 |
| 30 Year FHA Purchase | 6.85% | 4/5/25 |
| 30 Year FHA Refi | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 5.79% | 4/5/25 |
| 30 Year VA Refi | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.84% | 4/5/25 |
| 15 Year Conventional Purchase | 6.41% | 4/5/25 |
| 15 Year Conventional Refi | 7.63% | 4/5/25 |
| 15 Year Cash-out Refi | 7.63% | 4/5/25 |
| 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. | ||
First Interstate Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from First Interstate Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,414Origination Dollar Volume (All Markets)
$438,810,000Awards
First Interstate Bank - 2024
First Interstate Bank is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
First Interstate Bank's average 30 year fixed mortgage rate was
9.08%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 2.53%.
Relative Fees (Closing Costs)
First Interstate Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,719.
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
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 | 434 | $60,810,000 | $140,115 | $4,967 | 8.79% |
| BEND, OR (FHA|USDA|VA) | 96 | $32,180,000 | $335,208 | $11,010 | 8.98% |
| MISSOULA, MT (FHA|USDA|VA) | 126 | $30,370,000 | $241,032 | $6,274 | 9.11% |
| Kalispell, MT (FHA|USDA|VA) | 77 | $21,555,000 | $279,935 | $8,969 | 8.69% |
| Bozeman, MT (FHA|USDA|VA) | 63 | $17,675,000 | $280,556 | $8,803 | 8.56% |
| BOISE CITY, ID (FHA|USDA|VA) | 109 | $17,545,000 | $160,963 | $7,032 | 9.32% |
| Outside of Metro Areas | 59 | $14,205,000 | $240,763 | $9,763 | 8.85% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 6 | $12,420,000 | $2,070,000 | $2,781 | 8.01% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 97 | $12,145,000 | $125,206 | $3,323 | 8.95% |
| BILLINGS, MT (FHA|USDA|VA) | 81 | $11,735,000 | $144,877 | $7,106 | 8.73% |
| Spearfish, SD (FHA|USDA|VA) | 67 | $11,335,000 | $169,179 | $4,807 | 8.98% |
| Helena, MT (FHA|USDA|VA) | 52 | $10,720,000 | $206,154 | $5,380 | 9.04% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 95 | $10,625,000 | $111,842 | $3,309 | 9.13% |
| RAPID CITY, SD (FHA|USDA|VA) | 67 | $9,495,000 | $141,716 | $5,283 | 8.94% |
| MEDFORD, OR (FHA|USDA|VA) | 70 | $8,670,000 | $123,857 | $9,414 | 9.28% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 66 | $7,850,000 | $118,939 | $3,268 | 8.88% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 45 | $7,595,000 | $168,778 | $4,916 | 8.84% |
| Aberdeen, SD (FHA|USDA|VA) | 36 | $6,640,000 | $184,444 | $3,858 | 7.99% |
| Riverton, WY (FHA|USDA|VA) | 40 | $6,520,000 | $163,000 | $5,166 | 8.11% |
| Jackson, WY-ID (FHA|USDA|VA) | 23 | $6,365,000 | $276,739 | $4,745 | 8.48% |
| CASPER, WY (FHA|USDA|VA) | 52 | $6,040,000 | $116,154 | $4,176 | 8.67% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 8 | $5,880,000 | $735,000 | $0 | 9.52% |
| GREAT FALLS, MT (FHA|USDA|VA) | 33 | $5,725,000 | $173,485 | $8,662 | 8.60% |
| CHEYENNE, WY (FHA|USDA|VA) | 39 | $5,515,000 | $141,410 | $3,228 | 8.73% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 27 | $4,625,000 | $171,296 | $4,901 | 8.71% |
| Brookings, SD (FHA|USDA|VA) | 10 | $4,560,000 | $456,000 | $0 | 8.84% |
| FARGO, ND-MN (FHA|USDA|VA) | 3 | $4,275,000 | $1,425,000 | $0 | 8.74% |
| BOULDER, CO (FHA|USDA|VA) | 17 | $4,175,000 | $245,588 | $4,069 | 8.92% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 7 | $4,055,000 | $579,286 | $0 | 7.95% |
| Sheridan, WY (FHA|USDA|VA) | 31 | $3,685,000 | $118,871 | $3,730 | 8.81% |
| Watertown, SD (FHA|USDA|VA) | 32 | $3,620,000 | $113,125 | $3,883 | 8.66% |
| GRANTS PASS, OR (FHA|USDA|VA) | 30 | $3,600,000 | $120,000 | $7,850 | 9.27% |
| AMES, IA (FHA|USDA|VA) | 20 | $3,410,000 | $170,500 | $4,241 | 8.72% |
| Laramie, WY (FHA|USDA|VA) | 18 | $3,320,000 | $184,444 | $7,409 | 8.53% |
| Prineville, OR (FHA|USDA|VA) | 8 | $2,990,000 | $373,750 | $12,559 | 8.89% |
| Gillette, WY (FHA|USDA|VA) | 25 | $2,965,000 | $118,600 | $3,743 | 8.57% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 9 | $2,815,000 | $312,778 | $3,252 | 9.18% |
| FORT COLLINS, CO (FHA|USDA|VA) | 16 | $2,740,000 | $171,250 | $3,281 | 8.89% |
| LINCOLN, NE (FHA|USDA|VA) | 27 | $2,535,000 | $93,889 | $2,625 | 9.14% |
| Sandpoint, ID (FHA|USDA|VA) | 10 | $2,240,000 | $224,000 | $9,376 | 8.90% |
| Marshalltown, IA (FHA|USDA|VA) | 22 | $2,070,000 | $94,091 | $2,730 | 8.48% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 14 | $2,020,000 | $144,286 | $0 | 7.97% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 7.65% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $6,421 | 8.53% |
| Moses Lake, WA (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $15,646 | 9.06% |
| TUCSON, AZ (FHA|USDA|VA) | 7 | $1,805,000 | $257,857 | $6,897 | 8.88% |
| Fort Dodge, IA (FHA|USDA|VA) | 32 | $1,630,000 | $50,938 | $3,570 | 9.20% |
| GREELEY, CO (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $0 | 8.86% |
| WENATCHEE, WA (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $0 | 9.50% |
| SALEM, OR (FHA|USDA|VA) | 8 | $1,430,000 | $178,750 | $9,927 | 8.91% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 7 | $1,265,000 | $180,714 | $5,504 | 8.86% |
| Kearney, NE (FHA|USDA|VA) | 9 | $1,205,000 | $133,889 | $2,734 | 8.16% |
| IOWA CITY, IA (FHA|USDA|VA) | 6 | $1,180,000 | $196,667 | $5,628 | 7.54% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $10,869 | 8.88% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 6 | $1,170,000 | $195,000 | $3,820 | 8.49% |
| Burlington, IA-IL (FHA|USDA|VA) | 16 | $1,170,000 | $73,125 | $3,271 | 8.98% |
| Mountain Home, ID (FHA|USDA|VA) | 13 | $1,145,000 | $88,077 | $0 | 9.42% |
| Klamath Falls, OR (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $5,461 | 9.00% |
| Aberdeen, WA (FHA|USDA|VA) | 7 | $935,000 | $133,571 | $0 | 9.39% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $5,981 | 8.38% |
| Rock Springs, WY (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $4,061 | 7.68% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $0 | 8.94% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 6 | $850,000 | $141,667 | $0 | 8.76% |
| North Platte, NE (FHA|USDA|VA) | 7 | $845,000 | $120,714 | $2,804 | 8.16% |
| Brookings, OR (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $0 | 9.50% |
| Hastings, NE (FHA|USDA|VA) | 7 | $775,000 | $110,714 | $2,643 | 8.83% |
| Mitchell, SD (FHA|USDA|VA) | 7 | $725,000 | $103,571 | $4,171 | 9.39% |
| Othello, WA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $11,470 | 7.81% |
| Coos Bay, OR (FHA|USDA|VA) | 7 | $685,000 | $97,857 | $2,876 | 9.30% |
| The Dalles, OR (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 9.06% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $7,979 | 5.88% |
| Scottsbluff, NE (FHA|USDA|VA) | 5 | $495,000 | $99,000 | $3,064 | 7.99% |
| Lexington, NE (FHA|USDA|VA) | 6 | $420,000 | $70,000 | $2,937 | 9.04% |
| Yankton, SD (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,692 | 8.12% |
| Fremont, NE (FHA|USDA|VA) | 5 | $335,000 | $67,000 | $3,126 | 9.00% |
| Oskaloosa, IA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,207 | 7.88% |
| Beatrice, NE (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 9.75% |
| Roseburg, OR (FHA|USDA|VA) | 5 | $275,000 | $55,000 | $0 | 9.90% |
| Newport, OR (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 9.42% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.60% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 9.13% |
| Hood River, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 9.50% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 9.25% |
| Ottumwa, IA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,056 | 7.13% |
| Burley, ID (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 7.75% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.25% |
| Pullman, WA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $5,013 | 8.13% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,260 | 7.00% |
| Hailey, ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 9.50% |
| Ontario, OR-ID (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 9.81% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 9.63% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.83% |
| Astoria, OR (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 10.06% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.25% |
| Shelton, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.25% |
| Mason City, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.25% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 9.50% |
| Payson, AZ (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.50% |
| Columbus, NE (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.25% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.75% |
| Pella, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.38% |
| Pierre, SD (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 9.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Interstate Bank 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 2024, First Interstate Bank's most frequently originated type of loan was HELOC, with 1,795 originations. Their 2nd most popular type was Conventional, with 583 originations.
Loan Reason
For 2024, First Interstate Bank's most frequently cited loan purpose was Home Improvement, with 921 originations. The 2nd most popular reason was Refi, with 607 originations.
Loan Duration/Length
For 2024, First Interstate Bank's most frequently cited loan duration was 30 Year, with 2,053 originations. The 2nd most popular length was 5 Year, with 144 originations.
Origination Fees/Closing Costs
First Interstate Bank's average total fees were $4,719, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 139 originations.
Interest Rates
During 2024, First Interstate Bank's average interest rate for loans was 9.08%, while their most frequently originated rate bucket for loans was Over 8%, with 1,880 originations.
Loan Sizing
2024 saw First Interstate Bank place emphasis on $100,000 or less loans with 1,099 originations, totaling $57,005,000 in origination value.
Applicant Income
First Interstate Bank lent most frequently to those with incomes in the $100k-150k range, with 543 originations. The second most popular income band? $150k-250k, with 486 originations.
Applicant Debt to Income Ratio
First Interstate Bank lent most frequently to those with DTI ratios of 20-30%, with 505 originations. The next most common DTI ratio? 30-36%, with 380 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.38%
First Interstate Bank has a below average approval rate.
Pick Rate
Approvals leading to origination76.55%
First Interstate Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,414 | $438,810,000 | $181,777 |