Bank Mortgage Rates, Fees & Info

Wapello, IA

LEI: 2549000C5KZ15Q2U9V68

Tax ID: 42-0335310

5 stars - Updated: 4/5/25 - out of 5 stars, based on 13 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Bank is a smaller bank specializing in Home Purchase loans. Bank has a high proportion of conventional loans. Their top (well, only) market is Des Moines.

    Bank 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. Bank 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 6.30% 4/5/25
    30 Year Conventional Refi 5.77% 4/5/25
    30 Year Cash-out Refi 5.65% 4/5/25
    15 Year Conventional Purchase 6.37% 4/5/25
    15 Year Conventional Refi 6.00% 4/5/25
    15 Year Cash-out Refi 6.00% 4/5/25
    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.

    Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank. 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

    160

    Origination Dollar Volume (All Markets)

    $33,810,000
    Show all (5) awards

    Relative Rate

    Bank's average 30 year fixed mortgage rate was 6.09%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.46%.

    Relative Fees (Closing Costs)

    Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,831.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    Outside of Metro Areas 102 $20,850,000 $204,412 $2,367 6.57%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 58 $12,960,000 $223,448 $3,111 5.87%
    Bank's top markets include and Des Moines among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    Bank
    Similarity Rank: 42
    FINANCIAL PLUS Credit Union
    Similarity Rank: 72
    Bankers Trust Company
    Similarity Rank: 180
    GREATER IOWA CREDIT UNION
    Similarity Rank: 187
    Farmers State Bank
    Similarity Rank: 276
    Tradesmen Community Credit Union
    Similarity Rank: 360
    Luana Savings Bank
    Similarity Rank: 399
    Collins Community Credit Union
    Similarity Rank: 442
    Community Choice Credit Union
    Similarity Rank: 510
    Premier Credit Union
    Similarity Rank: 656

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $33,810,000 $211,313 $2,621 6.32%

    For 2024, Bank's most frequently originated type of loan was Conventional, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 112 $27,850,000 $248,661 $2,883 6.21%
    Refi 42 $5,230,000 $124,524 $2,103 6.73%
    Cash Out Refi 6 $730,000 $121,667 $1,923 5.50%

    For 2024, Bank's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 133 $30,355,000 $228,233 $2,831 6.09%
    20 Year 13 $975,000 $75,000 $1,483 7.56%
    10 Year 8 $230,000 $28,750 $1,368 7.67%
    15 Year 4 $600,000 $150,000 $1,810 6.91%
    Other 2 $1,650,000 $825,000 $3,039 6.88%

    For 2024, Bank's most frequently cited loan duration was 30 Year, with 133 originations. The 2nd most popular length was 20 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 68 $12,300,000 $180,882
    $1k-2k 55 $11,615,000 $211,182
    $2k-3k 10 $2,150,000 $215,000
    $3k-4k 3 $715,000 $238,333
    $4k-5k 1 $275,000 $275,000
    $5k+ 1 $375,000 $375,000

    Bank's average total fees were $2,831, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 68 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 62 $16,550,000 $266,935
    7-8% 42 $7,980,000 $190,000
    5-6% 30 $5,520,000 $184,000
    4-5% 24 $3,670,000 $152,917
    Over 8% 2 $90,000 $45,000

    During 2024, Bank's average interest rate for loans was 6.09%, while their most frequently originated rate bucket for loans was 6-7%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 69 $10,465,000 $151,667 $2,717 5.95%
    $200k-400k 38 $10,350,000 $272,368 $3,139 6.23%
    $100,000 or less 37 $2,105,000 $56,892 $1,723 6.94%
    $400k-600k 9 $4,515,000 $501,667 $2,837 6.54%
    $600k-1MM 5 $3,745,000 $749,000 $2,917 6.65%
    $1MM+ 2 $2,630,000 $1,315,000 $0 7.19%

    2024 saw Bank place emphasis on $100k-200k loans with 69 originations, totaling $10,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $4,875,000 $125,000 $2,637 5.68%
    $50k-75k 32 $4,710,000 $147,188 $2,507 5.87%
    $100k-150k 26 $5,480,000 $210,769 $2,657 6.81%
    $75k-100k 26 $4,780,000 $183,846 $2,796 6.30%
    $150k-250k 16 $4,830,000 $301,875 $2,624 6.83%
    $250k+ 10 $5,120,000 $512,000 $2,320 6.81%

    Bank lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $5,025,000 $152,273 $2,592 6.46%
    20-30% 21 $4,295,000 $204,524 $2,017 6.17%
    <20% 12 $1,720,000 $143,333 $2,606 6.38%
    36% 10 $1,770,000 $177,000 $3,016 5.64%
    49% 6 $1,820,000 $303,333 $3,377 6.25%
    39% 6 $960,000 $160,000 $2,366 5.56%
    40% 6 $810,000 $135,000 $1,383 7.46%
    47% 6 $2,120,000 $353,333 $3,664 6.44%
    41% 5 $975,000 $195,000 $3,163 5.72%
    43% 5 $575,000 $115,000 $2,306 6.41%
    44% 5 $1,255,000 $251,000 $2,842 5.18%
    45% 5 $1,085,000 $217,000 $3,170 5.53%
    38% 5 $1,355,000 $271,000 $2,226 6.35%
    42% 4 $720,000 $180,000 $3,187 6.32%
    46% 4 $1,550,000 $387,500 $2,717 6.06%
    48% 4 $710,000 $177,500 $3,224 5.69%
    37% 4 $1,090,000 $272,500 $1,974 5.59%

    Bank lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $22,020,000 $200,182 $2,566 6.22%
    Not provided 37 $7,485,000 $202,297 $2,820 6.28%
    Not applicable 11 $4,015,000 $365,000 $0 7.54%
    Black 2 $290,000 $145,000 $2,786 5.56%

    Approval Rates

    Total approvals of all applications
    85.89%

    Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.88%

    Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 160 $33,810,000 $211,313

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    160 $33,810,000 $211,313

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $580,000 $58,000 $1,594 7.28%
    40-60% 10 $1,710,000 $171,000 $2,093 6.31%
    60-80% 54 $16,400,000 $303,704 $2,684 6.40%
    80-100% 74 $14,540,000 $196,486 $2,964 5.92%
    Under 20% 12 $580,000 $48,333 $1,531 7.59%