Is Bankers Trust a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Bankers Trust to those of other lenders for a comparable set of borrowers. Here is our review of Bankers Trust nationally:
| Review Item | Bankers Trust |
|---|---|
| Interest Rate | similar to other lenders (+0.03%) |
| Loan Related Closing Costs | similar to other lenders (+$108) |
| National Rate and Closing Cost Star Rating | (3.5) |
On average, Bankers Trust’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 +$108. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Bankers Trust, check out its website at: https://www.bankerstrust.com.
Bankers Trust’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 Bankers Trust was most active in:
In addition, Bankers Trust is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Des Moines, IA, for Jumbo mortgages
Bankers Trust’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, Bankers Trust originated Conforming, FHA, Jumbo and USDA 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 |
|---|---|---|---|---|
| Interest Rate Difference | +0.06% | -0.16% | -0.05% | -0.03% |
| Loan Related Closing Cost Difference | +$224 | -$168 | -$53 | -$18 |
| Cost Adjusted Rate Difference | +0.08% | -0.17% | -0.06% | -0.03% |
| National Star Rating |
| Refinance Mortgages | Conforming | FHA | Jumbo | USDA |
|---|---|---|---|---|
| Interest Rate Difference | -0.00% | -0.02% | -0.05% | -0.01% |
| Loan Related Closing Cost Difference | -$75 | -$17 | -$22 | +$0 |
| Cost Adjusted Rate Difference | -0.02% | -0.03% | -0.05% | -0.01% |
| Average Star Rating |
As a summary, Bankers Trust is cheap for FHA and Jumbo purchase mortgages. It is similar to other lenders for USDA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Bankers Trust is cheap for Jumbo mortgage refinance. It is similar to other lenders for Conforming, FHA and USDA 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 Bankers Trust:
Registered city and state: DES MOINES, IA, 50309
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: BTC FINANCIAL CORPORATION
* 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 Bankers Trust’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.