Mortgage Resources

Mortgage Resources

We know the home loan process can be a complicated affair. Our Mortgage Resources are designed to help explain the most common concepts and questions.

Purchasing a Home

You don't have to wait to find the home you want to purchase before applying for your mortgage with First Interstate Bank. In fact, it's best to submit your mortgage application before you begin your home search. That way, your loan originator can review your application and help you determine the price range that is most appropriate for you.

Select a loan originator in your area to start your application.

Select a Loan Originator

 

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Pre-qualification is an excellent first step before you start your home search. By submitting your application early, you will have an opportunity to meet with your loan originator to review your application and help explain the price range in which you should search.

Pre-qualification involves a preliminary review of your finances to ascertain your debt to income ratio, which helps your lender determine what price range might be most suited for your search.

First Interstate Bank makes applying for a mortgage more convenient with both online and in-person applications.

Online Applications

Our online application, which takes about 20 minutes to complete, requests information about your finances and desired home. When you finish the application, a First Interstate loan originator will review your application. The loan originator will contact you to introduce himself or herself and to answer any questions you have. Your loan originator will also tell you if you have been pre-qualified or if he or she needs additional information.

In-Person Applications

If you prefer to sit down with one of our experienced loan originators to apply for your mortgage, you can Select a Loan Originator and set up an appointment.

In the neighborhood? Stop by your local branch and we will help get you started on the path to a new home.

If you express intent to proceed with your loan application with First Interstate Bank, the following items may be required.

What You Need

  • A check to cover the cost of your credit report and appraisal
  • Your Social Security Number(s)
  • The addresses of your residences for the past two years plus the names and address(es) of all landlords during that time period
  • Pay stubs from the last 30 days to show your year-to-date earnings
  • Proof of other sources of income as necessary (pension, social security, etc.)
  • Original W-2 forms for the past year. If you are self-employed, earn commissions, overtime, or bonuses totaling over 25% of your income, please provide personal and/or corporate tax returns from the past two years. A current profit and loss statement and balance sheet are needed for self-employed individuals.
  • A list of your monthly debts (auto loans, student loans, mortgage loans, credit cards, etc.), creditors' names, address(es), account numbers, minimum monthly payment amounts, and outstanding balances on each account
  • Information on any real estate you already own, including property address, current market value, mortgage lender's name and address, loan account number, balance, and monthly payment
  • Bank statements from the two most recent months for all checking and savings accounts
  • Statements from the past two months for CDs, IRAs, stocks, bonds, and any other securities if you intend to use any of these assets for your down payment
  • A signed purchase contract on the home you wish to buy, any amendments or counter offers, and a copy of the earnest money. Please also provide the phone number and address of the listing and selling agents (or seller and seller's attorney if no real estate agent is involved). Your real estate agent should be able to send a copy of the contacts to your loan originator.
  • If a sale is pending on your existing home, we'll need a copy of the purchase contract for that existing property and the sales listing contract. Your real estate agent should be able to provide these documents to your loan originator.

Loans are subject to credit approval. Some restrictions and loan fees may apply.

Today's Featured Rate

Actual interest rates and annual percentage rates (APRs) may vary based on credit score, loan to value, property type and occupancy.

30 Year Fixed Rate


15 Year Fixed Rate


Select a Loan Originator to sign up for Rate Watch or start the application process.

questionsQuestions?

Please contact us anytime with any question or would like any information.