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

Jump to:

  • 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)

    • Review & Overview

    Visionbank Of Iowa is a smaller bank specializing in Home Purchase and Refi loans. Visionbank Of Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Marshalltown, Des Moines, and Spirit Lake among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Visionbank Of Iowa has an 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.49% 4/21/24
    30 Year Conventional Refi 6.59% 4/21/24
    30 Year Cash-out Refi 6.38% 4/21/24
    15 Year Conventional Purchase 5.83% 4/21/24
    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

    60

    Origination Dollar Volume (All Markets)

    $22,610,000

    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) 40 $9,320,000 $233,000 $1,110 5.35%
    Marshalltown, IA (FHA|USDA|VA) 1 $7,825,000 $7,825,000 $0 3.90%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 11 $4,145,000 $376,818 $824 5.37%
    Outside of Metro Areas 7 $1,125,000 $160,714 $1,239 5.27%
    Spirit Lake, IA (FHA|USDA|VA) 1 $195,000 $195,000 $0 6.00%
    Visionbank Of Iowa's top markets include Ames, Marshalltown, Des Moines, and Spirit Lake among others.

    Their top states include:
  • Iowa (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.

    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    MEMBERS1st Community Credit Union
    Similarity Rank: 161
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers State Bank
    Similarity Rank: 399
    Serve Credit Union
    Similarity Rank: 420
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 464
    Premier Credit Union
    Similarity Rank: 504
    GREATER IOWA CREDIT UNION
    Similarity Rank: 675
    Peoples Bank
    Similarity Rank: 712
    Luana Savings Bank
    Similarity Rank: 968

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 60 $22,610,000 $376,833 $1,078 5.33%

    For 2022, Visionbank Of Iowa's most frequently originated type of loan was Conventional, with 60 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $10,420,000 $325,625 $775 5.45%
    Refi 19 $9,865,000 $519,211 $1,392 5.36%
    Other 4 $1,410,000 $352,500 $1,759 4.73%
    Home Improvement 3 $185,000 $61,667 $500 6.25%
    Cash Out Refi 2 $730,000 $365,000 $1,480 2.94%

    For 2022, Visionbank Of Iowa's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 26 $3,570,000 $137,308 $300 5.62%
    Other 17 $11,535,000 $678,529 $1,868 5.40%
    15 Year 10 $5,250,000 $525,000 $307 4.50%
    10 Year 3 $155,000 $51,667 $1,054 5.53%
    30 Year 3 $945,000 $315,000 $1,558 4.33%
    1 Year 1 $1,155,000 $1,155,000 $0 7.25%

    For 2022, Visionbank Of Iowa's most frequently cited loan duration was 5 Year, with 26 originations. The 2nd most popular length was Other, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $8,005,000 $320,200
    $1k-2k 2 $220,000 $110,000
    $4k-5k 1 $365,000 $365,000

    Visionbank Of Iowa's average total fees were $1,558, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 19 $3,165,000 $166,579
    4-5% 15 $4,255,000 $283,667
    6-7% 15 $3,445,000 $229,667
    3-4% 8 $10,290,000 $1,286,250
    7-8% 2 $1,220,000 $610,000
    2.5-3% 1 $235,000 $235,000

    During 2022, Visionbank Of Iowa's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 5-6%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $890,000 $49,444 $534 5.96%
    $100k-200k 17 $2,365,000 $139,118 $1,715 5.34%
    $200k-400k 13 $3,975,000 $305,769 $1,725 4.74%
    $400k-600k 7 $3,595,000 $513,571 $284 4.67%
    $600k-1MM 3 $2,805,000 $935,000 $0 5.42%
    $1MM+ 2 $8,980,000 $4,490,000 $0 5.58%

    2022 saw Visionbank Of Iowa place emphasis on $100,000 or less loans with 18 originations, totaling $890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 11 $3,095,000 $281,364 $1,461 5.33%
    $150k-250k 9 $2,085,000 $231,667 $571 5.09%
    $250k+ 8 $2,910,000 $363,750 $1,256 5.20%
    $50k or less 4 $110,000 $27,500 $328 5.81%
    $75k-100k 4 $1,040,000 $260,000 $1,185 5.39%
    $50k-75k 3 $355,000 $118,333 $1,403 5.50%

    Visionbank Of Iowa lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 8 $1,990,000 $248,750 $1,610 5.26%
    20-30% 4 $1,000,000 $250,000 $1,347 5.64%
    <20% 4 $1,690,000 $422,500 $769 3.69%
    37% 3 $815,000 $271,667 $888 5.47%
    42% 2 $1,050,000 $525,000 $1,239 5.61%
    43% 1 $335,000 $335,000 $1,456 6.15%
    44% 1 $445,000 $445,000 $0 4.88%
    50-60% 1 $885,000 $885,000 $0 4.13%
    36% 1 $255,000 $255,000 $953 6.15%
    38% 1 $15,000 $15,000 $300 6.00%
    39% 1 $5,000 $5,000 $300 5.75%
    40% 1 $105,000 $105,000 $700 5.75%

    Visionbank Of Iowa lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $13,015,000 $619,762 $0 5.36%
    White 35 $9,125,000 $260,714 $1,078 5.26%
    Not provided 4 $470,000 $117,500 $0 5.80%

    Approval Rates

    Total approvals of all applications
    87.63%

    Visionbank Of Iowa has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.33%

    Visionbank Of Iowa has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 60 $22,610,000 $376,833

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    60 $22,610,000 $376,833

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,380,000 $138,000 $1,156 5.29%
    40-60% 9 $905,000 $100,556 $1,706 5.42%
    60-80% 29 $17,535,000 $604,655 $762 5.40%
    80-100% 7 $2,415,000 $345,000 $2,729 4.77%
    Under 20% 5 $375,000 $75,000 $400 5.60%