Visionbank Of Iowa Mortgage Rates, Fees & Info

Ames, IA

LEI: 254900040LMONERSH242

Tax ID: 42-0183300

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Visionbank Of Iowa is a smaller bank specializing in Refi and Home Purchase loans. Visionbank Of Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, Minot, Manhattan, and Glenwood Springs among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Visionbank Of Iowa has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Visionbank Of Iowa is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.49% 12/16/24
    30 Year Conventional Refi 6.59% 12/16/24
    30 Year Cash-out Refi 6.38% 12/16/24
    15 Year Conventional Purchase 5.83% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Visionbank Of Iowa Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Visionbank Of Iowa. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    290

    Origination Dollar Volume (All Markets)

    $102,720,000

    Employee count

    103 Show all (6) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    AMES, IA (FHA|USDA|VA) 168 $55,580,000 $330,833 $1,467 3.13%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 96 $31,090,000 $323,854 $1,560 3.07%
    Minot, ND (FHA|USDA|VA) 2 $8,020,000 $4,010,000 $0 4.70%
    MANHATTAN, KS (FHA|USDA|VA) 1 $2,855,000 $2,855,000 $0 3.50%
    Glenwood Springs, CO (FHA|USDA|VA) 1 $2,725,000 $2,725,000 $0 3.35%
    Outside of Metro Areas 16 $970,000 $60,625 $1,342 3.75%
    Spirit Lake, IA (FHA|USDA|VA) 2 $700,000 $350,000 $0 4.69%
    Mason City, IA (FHA|USDA|VA) 1 $355,000 $355,000 $1,356 2.13%
    IOWA CITY, IA (FHA|USDA|VA) 1 $175,000 $175,000 $1,330 2.88%
    Marshalltown, IA (FHA|USDA|VA) 1 $155,000 $155,000 $1,381 2.13%
    Fort Dodge, IA (FHA|USDA|VA) 1 $95,000 $95,000 $1,221 2.63%
    Visionbank Of Iowa's top markets include Ames, Des Moines, Minot, Manhattan, and Glenwood Springs among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against VisionBank of Iowa based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 82
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 102
    VisionBank of Iowa
    Similarity Rank: 286
    Fidelity Bank
    Similarity Rank: 392
    GREATER IOWA CREDIT UNION
    Similarity Rank: 414
    Raccoon Valley Bank
    Similarity Rank: 540
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 570
    Community Choice Credit Union
    Similarity Rank: 816
    Serve Credit Union
    Similarity Rank: 896
    Luana Savings Bank
    Similarity Rank: 960

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 290 $102,720,000 $354,207 $1,486 3.15%

    For 2021, Visionbank Of Iowa's most frequently originated type of loan was Conventional, with 290 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 151 $60,985,000 $403,874 $1,412 3.06%
    Home Purchase 83 $29,475,000 $355,120 $1,607 3.44%
    Cash Out Refi 48 $11,600,000 $241,667 $1,546 2.76%
    Other 8 $660,000 $82,500 $1,052 4.25%

    For 2021, Visionbank Of Iowa's most frequently cited loan purpose was Refi, with 151 originations. The 2nd most popular reason was Home Purchase, with 83 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 77 $23,675,000 $307,468 $1,594 2.90%
    5 Year 69 $28,845,000 $418,043 $85 3.89%
    15 Year 67 $15,685,000 $234,104 $1,534 2.40%
    Other 33 $22,625,000 $685,606 $1,007 4.04%
    20 Year 22 $5,530,000 $251,364 $1,517 2.76%
    10 Year 18 $5,610,000 $311,667 $1,361 2.73%
    1 Year 3 $495,000 $165,000 $539 5.17%
    3 Year 1 $255,000 $255,000 $0 3.95%

    For 2021, Visionbank Of Iowa's most frequently cited loan duration was 30 Year, with 77 originations. The 2nd most popular length was 5 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 193 $48,985,000 $253,808
    $1k-2k 2 $390,000 $195,000
    $3k-4k 1 $505,000 $505,000

    Visionbank Of Iowa's average total fees were $1,594, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 91 $28,245,000 $310,385
    3-4% 89 $44,575,000 $500,843
    <2.5% 73 $16,225,000 $222,260
    4-5% 25 $11,845,000 $473,800
    5-6% 10 $1,780,000 $178,000
    6-7% 2 $50,000 $25,000

    During 2021, Visionbank Of Iowa's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was 2.5-3%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 99 $28,455,000 $287,424 $1,534 3.04%
    $100k-200k 90 $13,470,000 $149,667 $1,439 3.09%
    $400k-600k 44 $21,850,000 $496,591 $1,587 2.98%
    $100,000 or less 42 $2,290,000 $54,524 $1,271 3.59%
    $1MM+ 11 $33,845,000 $3,076,818 $0 3.70%
    $600k-1MM 4 $2,810,000 $702,500 $0 3.49%

    2021 saw Visionbank Of Iowa place emphasis on $200k-400k loans with 99 originations, totaling $28,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 55 $12,645,000 $229,909 $1,461 2.99%
    $75k-100k 45 $9,025,000 $200,556 $1,526 2.89%
    $150k-250k 39 $12,395,000 $317,821 $1,602 3.02%
    $50k-75k 33 $6,305,000 $191,061 $1,543 2.84%
    $250k+ 27 $9,185,000 $340,185 $1,200 3.08%
    $50k or less 7 $815,000 $116,429 $1,605 2.45%

    Visionbank Of Iowa lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $12,470,000 $215,000 $1,494 2.71%
    <20% 43 $11,915,000 $277,093 $1,445 2.74%
    30-36% 41 $10,945,000 $266,951 $1,464 2.82%
    40% 7 $1,475,000 $210,714 $1,313 3.79%
    41% 6 $1,920,000 $320,000 $1,534 3.46%
    36% 6 $1,160,000 $193,333 $1,291 3.03%
    37% 6 $1,320,000 $220,000 $1,515 2.65%
    42% 5 $1,775,000 $355,000 $2,202 2.73%
    45% 4 $1,080,000 $270,000 $1,663 2.47%
    39% 4 $1,150,000 $287,500 $1,491 2.69%
    43% 4 $1,380,000 $345,000 $1,771 2.81%
    48% 3 $685,000 $228,333 $1,269 4.68%
    38% 3 $945,000 $315,000 $1,360 4.89%
    44% 3 $895,000 $298,333 $1,561 2.67%
    47% 3 $585,000 $195,000 $1,281 2.67%
    46% 2 $440,000 $220,000 $1,466 2.75%

    Visionbank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? <20%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 78 $50,260,000 $644,359 $0 3.76%
    White 184 $46,060,000 $250,326 $1,493 2.95%
    Not provided 17 $3,785,000 $222,647 $1,376 3.01%
    Asian 10 $2,200,000 $220,000 $1,482 2.39%
    Black 1 $415,000 $415,000 $1,932 3.00%

    Approval Rates

    Total approvals of all applications
    93.68%

    Visionbank Of Iowa has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.24%

    Visionbank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 290 $102,720,000 $354,207

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    290 $102,720,000 $354,207

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $7,465,000 $298,600 $1,301 3.20%
    40-60% 62 $13,590,000 $219,194 $1,509 3.01%
    60-80% 151 $58,805,000 $389,437 $1,541 3.00%
    80-100% 31 $13,935,000 $449,516 $1,654 3.35%
    Over 100% 2 $8,020,000 $4,010,000 $0 4.70%
    Under 20% 19 $905,000 $47,632 $635 4.29%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Visionbank of Iowa 100 Centennial Drive Huxley, IA 50124 Full Service B&M $30,070
    Visionbank of Iowa 104 Chestnut St Ames, IA 50010 Full Service B&M $126,051
    Visionbank of Iowa 107 Main Street Ames, IA 50010 Full Service B&M $10,288
    Visionbank of Iowa 1704 South Marshall Street Boone, IA 50036 Full Service B&M $138,907
    Visionbank of Iowa 217 W. Mulberry Ogden, IA 50212 Full Service B&M $68,781
    Visionbank of Iowa 45 N Warrior Ln Waukee, IA 50263 Full Service B&M $6,854
    Visionbank of Iowa 4510 Mortensen Road Suite 101 Ames, IA 50014 Full Service B&M $36,910
    Visionbank of Iowa 504 Story St Boone, IA 50036 Limited, Drive-thru $13,835
    Visionbank of Iowa 925 Se Gateway Drive Grimes, IA 50111 Full Service B&M $58,781

    For 2021, Visionbank Of Iowa had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,816
    Net interest income $16,615
    Total noninterest income $3,546
    Gross Fiduciary activities income $14
    Service charges on deposit accounts $370
    Trading account gains and fees $0
    Additional Noninterest Income $3,162
    Pre-tax net operating income $5,836
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,556
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,556
    Minority interest net income $0
    Net income $5,556
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,556

    Visionbank Of Iowa's gross interest income from loans was $19,816,000.
    Visionbank Of Iowa's net interest income from loans was $16,615,000.
    Visionbank Of Iowa's fee based income from loans was $370,000.
    Visionbank Of Iowa's net income from loans was $5,556,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,201
    Provision for credit losses $0
    Total noninterest expense $14,325
    Salaries and employee benefits $9,073
    Premises and equipment expense $1,416
    Additional noninterest expense $3,836
    Applicable income taxes $280
    Net charge-offs $-10
    Cash dividends $2,778

    Visionbank Of Iowa's interest expense for loans was $3,201,000.
    Visionbank Of Iowa's payroll and benefits expense were $9,073,000.
    Visionbank Of Iowa's property, plant and equipment expenses $1,416,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $487,152
    Deposits held in domestic offices $487,152
    Deposits by Individuals, partnerships, and corporations $416,774
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $70,378
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $251,091
    Demand deposits $139,821
    Nontransaction accounts $236,061
    Money market deposit accounts (MMDAs) $124,339
    Other savings deposits (excluding MMDAs) $44,403
    Total time deposits $67,320
    Total time and savings deposits $347,331
    Noninterest-bearing deposits $105,966
    Interest-bearing deposits $381,186
    Retail deposits $457,734
    IRAs and Keogh plan accounts $4,637
    Brokered deposits $23,744
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $600,366
    Cash & Balances due from depository institutions $62,353
    Interest-bearing balances $55,239
    Total securities $44,661
    Federal funds sold & reverse repurchase $0
    Net loans and leases $473,754
    Loan and leases loss allowance $5,617
    Trading account assets $0
    Bank premises and fixed assets $11,846
    Other real estate owned $0
    Goodwill and other intangibles $878
    All other assets $6,874

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $600,366
    Total Liabilities $539,965
    Total deposits $487,152
    Interest-bearing deposits $381,186
    Deposits held in domestic offices $487,152
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $51,000
    Subordinated debt $0
    All other liabilities $1,813

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $473,754
    Loan and leases loss allowance $5,617
    Total loans and leases (domestic) $479,371
    All real estate loans $428,383
    Real estate loans in domestic offices $428,383
    Construction and development loans $67,865
    Residential 1-4 family construction $18,162
    Other construction, all land development and other land $49,703
    Loans secured by nonfarm nonresidential properties $219,663
    Nonfarm nonresidential secured by owner-occupied properties $79,236
    Commercial real estate & other non-farm, non-residential $140,427
    Multifamily residential real estate $43,120
    1-4 family residential loans $60,998
    Farmland loans $36,737
    Loans held in foreign offices $0
    Farm loans $18,789
    Commercial and industrial loans $28,924
    To non-U.S. addressees $0
    Loans to individuals $813
    Credit card loans $257
    Related Plans $5
    Consumer Auto Loans $64
    Other loans to individuals $487
    All other loans & leases $2,672
    Loans to foreign governments and official institutions $0
    Other loans $514
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $665
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $62
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    VisionBank of Iowa had $473,754,000 of loans outstanding in 2021. $428,383,000 of loans were in real estate loans. $67,865,000 of loans were in development loans. $43,120,000 of loans were in multifamily mortgage loans. $60,998,000 of loans were in 1-4 family mortgage loans. $18,789,000 of loans were in farm loans. $257,000 of loans were in credit card loans. $64,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 114 $33,207 $291,289
    Nonfarm, nonresidential loans - <$100k 20 $978 $48,900
    Nonfarm, nonresidential loans - $100-250k 26 $3,664 $140,923
    Nonfarm, nonresidential loans - $250k-1MM 68 $28,565 $420,074
    Commercial & Industrial, US addressed loans - <$1MM 130 $9,534 $73,338
    Commercial & Industrial, US addressed loans - <$100k 73 $1,494 $20,466
    Commercial & Industrial, US addressed loans - $100-250k 32 $2,638 $82,438
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $5,402 $216,080
    Farmland loans - <$1MM 68 $11,125 $163,603
    Farmland loans - <$100k 14 $721 $51,500
    Farmland loans - $100-250k 33 $4,381 $132,758
    Farmland loans - $250k-1MM 21 $6,023 $286,810
    Agriculture operations loans - <$1MM 87 $6,323 $72,678
    Agriculture operations loans - <$100k 41 $1,001 $24,415
    Agriculture operations loans - $100-250k 29 $1,770 $61,034
    Agriculture operations loans - $250k-1MM 17 $3,552 $208,941