Bank First Mortgage Interest Rate and Cost Review

Is Bank First a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Bank First to those of other lenders for a comparable set of borrowers. Here is our review of Bank First nationally:

Review ItemBank First
Interest Ratesimilar to other lenders (-0.02%)
Loan Related Closing Costssimilar to other lenders (-$18)
National Rate and Closing Cost Star Rating(3.5)

On average, Bank First’s interest rates were similar to those of other lenders (-0.02%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$18. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Bank First, check out its website at:

Bank First’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Bank First was most active in:

  1. Sheboygan, WI
  2. Appleton, WI
  3. Green Bay, WI
  4. Milwaukee, WI
  5. La Crosse, WI

In addition, Bank First is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

Bank First’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Bank First originated Conforming, Jumbo and USDA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingJumboUSDA
Interest Rate Difference-0.06%-0.01%-0.02%
Loan Related Closing Cost Difference+$58+$6+$14
Cost Adjusted Rate Difference-0.06%-0.01%-0.02%
National Star Rating(4)(3.5)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference+0.01%-0.02%
Loan Related Closing Cost Difference-$77-$18
Cost Adjusted Rate Difference-0.02%-0.02%
Average Star Rating(3.5)(3.5)

As a summary, Bank First is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing mortgages, Bank First is similar to other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Bank First:

Registered name: Bank First
Registered city and state: MANITOWOC, WI, 54220
Regulator: Office of the Comptroller of the Currency (OCC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Bank First’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.