Is Bell Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Bell Bank to those of other lenders for a comparable set of borrowers. Here is our review of Bell Bank nationally:
| Review Item | Bell Bank |
|---|---|
| Interest Rate | similar to other lenders (-0.03%) |
| Loan Related Closing Costs | similar to other lenders (-$123) |
| National Rate and Closing Cost Star Rating | (3.5) |
On average, Bell Bank’s interest rates were similar to those of other lenders (-0.03%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$123. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Bell Bank, check out its website at: https://bell.bank.
Bell Bank’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 Bell Bank was most active in:
In addition, Bell Bank is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Fergus Falls, MN, for Jumbo mortgages
- Detroit Lakes, MN, overall
- Clovis, NM, for FHA mortgages
Bell Bank’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, Bell Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
| New Purchase Mortgages | Conforming | FHA | Jumbo | USDA | VA |
|---|---|---|---|---|---|
| Interest Rate Difference | -0.04% | -0.05% | +0.07% | -0.05% | +0.02% |
| Loan Related Closing Cost Difference | -$64 | -$143 | +$632 | -$90 | -$192 |
| Cost Adjusted Rate Difference | -0.05% | -0.06% | +0.09% | -0.05% | +0.01% |
| National Star Rating |
| Refinance Mortgages | Conforming | FHA | Jumbo | USDA | VA |
|---|---|---|---|---|---|
| Interest Rate Difference | -0.03% | -0.06% | +0.01% | -0.01% | +0.02% |
| Loan Related Closing Cost Difference | -$326 | -$68 | +$424 | +$19 | -$625 |
| Cost Adjusted Rate Difference | -0.06% | -0.07% | +0.02% | -0.00% | -0.01% |
| Average Star Rating |
As a summary, Bell Bank is cheap for FHA and USDA purchase mortgages. It is similar to other lenders for Conforming and VA purchase mortgages. It is more expensive than other lenders for Jumbo purchase mortgages. For refinancing, Bell Bank is cheap for Conforming and FHA mortgage refinance. It is similar to other lenders for Jumbo, USDA and VA 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 Bell Bank:
Registered city and state: FARGO, ND, 58103
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: STATE BANKSHARES, INC.
* 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 Bell Bank’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.