Bell Bank Mortgage Interest Rate and Cost Review

Is Bell Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Bell Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.03%)
Loan Related Closing Costssimilar to average (-$123)
National Rate and Closing Cost Rating(3.5)

On average, Bell Bank’s interest rates were similar to those of other lenders (-0.03%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$123. Overall, combining interest rates and closing costs we estimate that Bell Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Bell Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Bell Bank was most active in:

  1. Minneapolis, MN
  2. Phoenix, AZ
  3. Fargo, ND
  4. Milwaukee, WI
  5. Rochester, MN

Furthermore, Bell Bank is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Fergus Falls, MN, for Jumbo mortgages
  2. Detroit Lakes, MN, overall
  3. Clovis, NM, for FHA mortgages

You can click through to check out Bell Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Bell Bank’s Rates 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. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboUSDAVA
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%
Star Rating(3.5)(4.0)(3.0)(4.0)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
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%
Star Rating(4.0)(4.0)(3.5)(3.5)(3.5)

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, and we always recommend shopping among several lenders in your area before signing.

Other information about Bell Bank:

Registered name: Bell Bank
Registered city and state: FARGO, ND, 58103
Regulator: Federal Deposit Insurance Corporation (FDIC)

* 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.