First Interstate Bank recognizes your needs, whether it be purchasing a new home or refinancing, they offer lower fees than their competitors, and competitive, committed rates you can trust. Their season loan originators are committed to providing you the best customer services available in order to make the mortgage process as smooth as possible. From your Conventional to Government loan types (FHA, VA), you’ll surely find yourself a suitable loan program that suits your financial position.
Editor’s Note: First Interstate Bank currently has headquarters within Billings, Montana, on top of additional locations in Wyoming and South Dakota.
First Interstate Bank Mortgage Summary:
- Apply Now
- Account Type: Conforming, non-conforming, jumbo, FHA, VA, RD
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Closing Loan: Standard lock period is within or “less than” 30 days
First Interstate Bank Mortgage Features:
- Conforming Loans
- Conforming loans are designed for borrowers who meet guidelines, limits, and parameters established by Government Sponsored Enterprises (GSE’s), also referred to as the Agencies.
- Non-Conforming Loans
- Unlike conforming loans, non-conforming loans extend beyond the guidelines and limits set by the Agencies and create opportunities for borrowers who don’t meet some criteria of the conforming program.
- Jumbo Loans
- Jumbo loans provide the funding necessary for borrowers whose purchases extend beyond the limits set by the Agencies.
- FHA (Federal Housing Administration)
- FHA loans are designed for borrowers who meet the guidelines, limits, and parameters set by the FHA.
- FHA loans may include lower down payments and closing costs for homebuyers.
- VA (Veteran Administration)
- VA loans are offered to veterans who served in active duty and received a Certificate of Eligibility from the military.
- VA sets the guidelines, limits, and parameters for these loans.
- Rural Development (RD)
- RD loans are provided through the United States Department of Agriculture and provide financing for low to moderate income borrowers (income eligibility is determine by RD) with no down payment requirement. Properties must be located in an eligible rural area according to RD.
- Mortgage Tools – Check Rates, Rate Watch, Calculators, Mortgage Terms
First Interstate Bank Mortgage Basic Requirements:
Below are examples of supporting documents which may be included in a loan file:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
- Two most recent months’ bank statements. All of the pages.
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
With a variety of loan types, conventional and government backed, conforming, non-comforming, Jumbo or VA, choosing the right program with First Interstate Bank can be a breeze. Remember that not all eggs fit in one basket, and finding a loan that suits your financial lifestyle is detrimental towards moving into your next dream home.
Your ideals of a new home and First InterState’s readily available loan officers can have you sitting comfortably in that new home of yours so much more efficiently. Lock in your rate today and take your odds at pre-qualifications to get started! Also, be sure to check out our Best Mortgage Rates for you new or current home owners looking to purchase or refinance!
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