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Conventional: 640
FHA: 620 to 640
Minimum credit score
3%
Minimum down payment (Conventional)
Only available in: MT, ND, WY
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance |
---|---|
Minimum credit score | Conventional: 640 FHA: 620 to 640 |
Minimum down payment (Conventional) | 3% |
State availability | Only available in: MT, ND, WY |
NMLS # | 440094 |
Review by
Kat Aoki is a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time.
Stockman Bank may be a good choice if you’re looking for an agricultural loan or line of credit, a first-time homebuyer program or a government-backed loan. The bank features a team of local home loan specialists, offering more personalized services than bigger, more commercialized lenders that don’t have a local reputation to protect.
Online customer reviews of the bank’s mortgage department are also overwhelmingly positive. But you won’t find much information about loan details, fees or interest rates on the bank’s website, and it’s not for borrowers looking for a fully digital mortgage. If Stockman Bank doesn’t have what you’re after, compare more lenders to find the best one for your situation.
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To find out if you’re eligible for a Stockman Bank home loan, visit the company’s website. Basic eligibility for a mortgage with the company includes:
The documents you’ll need to apply for a home loan from Stockman Bank include:
For employed persons:
For self-employed persons:
Stockman Bank charges a 1% loan origination fee, but a loan officer at the bank told us that this fee is negotiable, depending on a borrower’s circumstances. Additionally, be prepared to pay around 1% to 4% of your loan amount in fees and closing costs, which typically include:
To complete your application, you’ll need to work with a loan officer. But to begin the process of applying for a home loan with the bank, follow these steps.
Alternatively, call the bank’s home loan department on 833-840-5289 to speak to a loan officer and get the ball rolling over the phone.
Stockman Bank also offers these specialized types of mortgages.
Compared to other lenders, Stockman Bank offers a wide range of home loan options, including conventional, government-backed and agricultural loans as well as first-time homebuyer programs.
As an agricultural real estate loan specialist, Stockman Bank offers a selection of purchase, refinance and equity loan programs for ranchers and farmers in various circumstances.
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As of July 2022, Stockman Bank has a 4.89 out of 5 rating on Zillow from 37 reviewers. Stockman Bank is not accredited with the Better Business Bureau and has an A+ business rating with zero customer reviews and only two complaints closed in the past three years.
While the bank doesn’t have many online reviews, the overwhelming majority of customers on Zillow report positive experiences with the bank’s loan officers, who they describe as knowledgeable, helpful and professional. On the flip side, some banking customers have complained about the bank’s lack of modernness and convenience compared to other banks.
Founded in 1953 and headquartered in Miles City, Montana, Stockman Bank is a family-owned bank offering numerous full-service branches in Montana and over 100 ATMs across the state. Specializing in agricultural loans for ranchers and farmers, Stockman Bank is Montana’s largest agricultural bank and is the 18th largest agricultural lender in the US.