Is Glacier Bank An Expensive Mortgage Lender?

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

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (+$17)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Glacier Bank originated 5710 mortgages, a national market share of 0.1%. It was most active in MT (13.4% market share), WY (3.4% market share), and ID (3.1% market share).

On average, Glacier Bank’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Glacier 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 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 $4721, which was similar to those of comparable mortgages at $4703, with a difference of +$17. Overall, we estimate that Glacier Bank tends to be an average cost lender, with a cost-adjusted-rate difference of -0.04% 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 Glacier Bank.

Glacier Bank originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA 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 Glacier Bank compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.02% -0.16% -0.06% -0.05%
Loan related Closing Cost Difference +$37 +$316 +$127 +$167
Cost Adjusted Rate Difference -0.02% -0.14% -0.05% -0.04%

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

Mortgage Refinancing from Glacier Bank compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.04% -0.16% -0.09%
Loan Related Closing Cost Difference -$240 +$26 -$641
Cost Adjusted Rate Difference -0.07% -0.16% -0.14%

Based on the table above, Glacier Bank is cheap for Conforming, FHA and VA mortgage refinance.

Other information about Glacier Bank:

Regulator: Federal Deposit Insurance Corporation (FDIC) 
Top holder: GLACIER BANCORP, INC.
Registered city and state: Kalispell, MT, 59901
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Footnotes

1 The comparable mortgages control for Glacier 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 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.