Billings Mortgage Rates, Fees & Info
Billings, MTLEI: 549300V0B2PZ5XF4SB58
Tax ID: 81-0232138
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Mortgage Data
Review & Overview
Billings is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Billings has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Billings, Great Falls, Kalispell, and Bozeman among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Billings has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Billings 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 | 6.36% | 11/21/24 |
| 30 Year Conventional Refi | 5.16% | 11/21/24 |
| 30 Year Cash-out Refi | 6.15% | 11/21/24 |
| 30 Year FHA Purchase | 7.33% | 11/21/24 |
| 30 Year VA Purchase | 6.06% | 11/21/24 |
| 15 Year Conventional Refi | 5.77% | 11/21/24 |
| 15 Year Cash-out Refi | 5.77% | 11/21/24 |
| 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. | ||
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Originations
203Origination Dollar Volume (All Markets)
$48,285,000Awards
BILLINGS - 2020
BILLINGS is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| BILLINGS, MT (FHA|USDA|VA) | 192 | $46,600,000 | $242,708 | $5,600 | 3.12% |
| Outside of Metro Areas | 8 | $1,250,000 | $156,250 | $4,209 | 3.31% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,026 | 3.13% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 2.74% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 2.74% |
Similar Lenders
We use machine learning to identify the top lenders compared against BILLINGS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 144
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 183 | $43,265,000 | $236,421 | $5,206 | 3.16% |
| FHA | 12 | $2,690,000 | $224,167 | $9,644 | 2.94% |
| VA | 8 | $2,330,000 | $291,250 | $6,802 | 2.55% |
For 2020, Billings's most frequently originated type of loan was Conventional, with 183 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2020, Billings's most frequently cited loan purpose was Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 72 originations.
Loan Duration/Length
For 2020, Billings's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was Other, with 26 originations.
Origination Fees/Closing Costs
Billings's average total fees were $6,063, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 63 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 105 | $23,895,000 | $227,571 |
| 2.5-3% | 70 | $18,180,000 | $259,714 |
| <2.5% | 21 | $5,545,000 | $264,048 |
| 4-5% | 7 | $665,000 | $95,000 |
During 2020, Billings's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 3-4%, with 105 originations.
Loan Sizing
2020 saw Billings place emphasis on $200k-400k loans with 103 originations, totaling $28,765,000 in origination value.
Applicant Income
Billings lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $50k-75k, with 47 originations.
Applicant Debt to Income Ratio
Billings lent most frequently to those with DTI ratios of 30-36%, with 59 originations. The next most common DTI ratio? 20-30%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.53%
Billings has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.04%
Billings has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 203 | $48,285,000 | $237,857 |