Is Opportunity Bank of Montana An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Opportunity Bank of Montana with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.07%)
Loan Related Closing Costs: higher than average (+$898)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Opportunity Bank of Montana originated 1270 mortgages, a national market share of 0.0%. It was most active in MT (5.9% market share), ID (0.0% market share), and ND (0.0% market share).

On average, Opportunity Bank of Montana’s interest rates were lower than those of comparable mortgages at other lenders (-0.07%).1The comparable mortgages control for Opportunity Bank of Montana’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $5930, which was higher than those of comparable mortgages at $5031, with a difference of +$898. Overall, we estimate that Opportunity Bank of Montana tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Opportunity Bank of Montana.

Opportunity Bank of Montana originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Opportunity Bank of Montana compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.05% -0.15% -0.07% -0.11%
Loan related Closing Cost Difference +$1001 +$1257 +$589 +$517
Cost Adjusted Rate Difference +0.01% -0.05% -0.02% -0.07%

Based on the table above, Opportunity Bank of Montana is cheap for VA purchase mortgages. It is similar to other lenders for Conforming, FHA and USDA purchase mortgages.

Mortgage Refinancing from Opportunity Bank of Montana compared to other lenders

Conforming
Interest Rate Difference -0.07%
Loan Related Closing Cost Difference +$489
Cost Adjusted Rate Difference -0.04%

Based on the table above, Opportunity Bank of Montana is similar to other lenders for Conforming mortgage refinance.

Other information about Opportunity Bank of Montana:

Regulator: Federal Reserve System (FRS) 
Top holder: EAGLE BANCORP MONTANA, INC.
Registered city and state: Helena, MT, 59601
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Footnotes   [ + ]

1. The comparable mortgages control for Opportunity Bank of Montana’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.