Bankwest at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the F grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
2nd48.6% deniedPricingmedian rate spread over APOR, weight 30%
1st2.25 ptsProcesswithdrawn + incomplete share, weight 15%
12th28.8%Closing coststotal loan costs ÷ loan amount, weight 10%
2nd5.84% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,540 | 531 | 45.9% | 57.0% | 7.85% | $75M |
| 2024 | 1,663 | 636 | 38.6% | 50.2% | 8.00% | $140M |
| 2025 | 1,776 | 650 | 34.6% | 48.6% | 8.00% | $135M |
What Bankwest lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 1,319 manufactured homes, 89 investment properties.
Why Bankwest denies applications
Primary reason reported for each of the 615 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Bankwest
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 440 | 50 | 84.9% |
| $50k – $100k | 757 | 279 | 46.7% |
| $100k – $150k | 322 | 169 | 25.6% |
| $150k – $250k | 135 | 75 | 17.6% |
| Over $250k | 42 | 24 | 20.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 187 | 65 | 50.4% |
| 25–34 | 492 | 173 | 51.3% |
| 35–44 | 332 | 114 | 55.3% |
| 45–54 | 294 | 96 | 51.8% |
| 55–64 | 237 | 91 | 44.2% |
| 65–74 | 141 | 54 | 43.8% |
| Over 74 | 45 | 23 | 28.1% |
Where Bankwest lends
14 states and 172 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| South Dakota | 786 | 494 | 14.0% | 7.25% | #7 |
| Minnesota | 505 | 93 | 54.7% | 8.25% | #82 |
| North Dakota | 73 | 25 | 38.4% | 8.00% | #57 |
| Montana | 27 | 10 | 18.5% | 8.25% | #127 |
| Wyoming | 27 | 9 | 25.9% | 8.50% | #93 |
| Nebraska | 26 | 10 | 42.3% | 8.25% | #185 |
| Iowa | 14 | 6 | 35.7% | 7.38% | #326 |
Frequently asked questions
Bankwest denied 48.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 2nd percentile of mid-size mortgage lenders.
The most common reason Bankwest gave in 2025 was "debt-to-income ratio", cited on 58.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Bankwest originated in 2025 was 8.00%, and its median rate spread over the average prime offer rate was 2.25 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 86% of its applications were for home purchases, 8% for refinancing (including cash-out), and 6% for home improvement or other purposes. By loan type: 94% conventional, 5% FHA, 1% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.