United Bank Of Iowa Mortgage Rates, Fees & Info

Ida Grove, IA

LEI: 2549002OCMCJIOOONI88

Tax ID: 42-0326042

5 stars - Updated: 9/25/23 - out of 5 stars, based on 22 reviews

Latest/2022 | 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
  • Complaints
  • 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

    United Bank Of Iowa is a smaller bank specializing in Home Purchase loans. United Bank Of Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Storm Lake, Carroll, Ames, Sioux City, and Omaha among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    United Bank 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. United Bank 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 6.83% 9/25/23
    30 Year Conventional Refi 6.67% 9/25/23
    30 Year Cash-out Refi 6.82% 9/25/23
    30 Year USDA Purchase 7.16% 9/25/23
    30 Year USDA Refi 6.89% 9/25/23
    15 Year Conventional Purchase 6.29% 9/25/23
    15 Year Conventional Refi 6.31% 9/25/23
    15 Year Cash-out Refi 6.31% 9/25/23
    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.

    United Bank Of Iowa Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from United Bank 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

    473

    Origination Dollar Volume (All Markets)

    $62,775,000

    Awards

    United Bank of Iowa 30 Year Conventional Loans bronze United Bank of Iowa USDA Loans silver United Bank of Iowa 30 Year Conventional Loans bronze United Bank of Iowa USDA Loans silver
    Show all (4) awards

    Relative Rate

    United Bank Of Iowa's average 30 year fixed mortgage rate was 4.97%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    United Bank Of Iowa's average total fees/closing costs for a 30 year fixed rate mortgage were $3,255.

    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 $4,750.

    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 315 $36,485,000 $115,825 $2,797 4.90%
    Storm Lake, IA (FHA|USDA|VA) 51 $6,905,000 $135,392 $3,158 5.02%
    Carroll, IA (FHA|USDA|VA) 30 $4,440,000 $148,000 $3,074 4.80%
    AMES, IA (FHA|USDA|VA) 13 $4,235,000 $325,769 $3,116 4.55%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 21 $3,695,000 $175,952 $3,378 4.70%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 13 $2,035,000 $156,538 $3,116 5.12%
    Fort Dodge, IA (FHA|USDA|VA) 14 $1,620,000 $115,714 $2,529 4.58%
    Spirit Lake, IA (FHA|USDA|VA) 3 $1,085,000 $361,667 $2,621 4.35%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 7 $1,005,000 $143,571 $2,814 4.59%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $455,000 $455,000 $5,501 4.50%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.50%
    IOWA CITY, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,775 4.25%
    DUBUQUE, IA (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
    Spencer, IA (FHA|USDA|VA) 1 $65,000 $65,000 $2,941 5.25%
    United Bank Of Iowa's top markets include Storm Lake, Carroll, Ames, Sioux City, and Omaha among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

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

    SIOUXLAND FEDERAL CREDIT UNION
    Similarity Rank: 150
    First Dakota National Bank
    Similarity Rank: 160
    DUPACO COMMUNITY
    Similarity Rank: 261
    FRONTIER FINANCIAL, INC.
    Similarity Rank: 364
    Bankers' Bank
    Similarity Rank: 384
    Great Western Bank
    Similarity Rank: 396
    GREENSTATE CREDIT UNION
    Similarity Rank: 438
    United Bank of Iowa
    Similarity Rank: 780
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 1240
    West Gate Bank
    Similarity Rank: 1586

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 418 $56,900,000 $136,124 $2,719 4.81%
    USDA 55 $5,875,000 $106,818 $3,887 5.30%

    For 2022, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was USDA, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 302 $44,250,000 $146,523 $3,023 5.03%
    Refi 86 $9,440,000 $109,767 $2,395 4.38%
    Cash Out Refi 53 $7,185,000 $135,566 $3,373 4.34%
    Home Improvement 24 $1,180,000 $49,167 $1,501 5.50%
    Other 8 $720,000 $90,000 $1,978 5.44%

    For 2022, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 302 originations. The 2nd most popular reason was Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 260 $38,770,000 $149,115 $3,255 4.97%
    15 Year 83 $7,215,000 $86,928 $2,534 4.55%
    20 Year 60 $7,070,000 $117,833 $2,503 4.56%
    10 Year 35 $1,885,000 $53,857 $1,465 4.92%
    Other 27 $7,045,000 $260,926 $518 5.31%
    5 Year 6 $270,000 $45,000 $560 5.27%
    1 Year 1 $15,000 $15,000 $0 7.00%
    3 Year 1 $505,000 $505,000 $0 3.50%

    For 2022, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 260 originations. The 2nd most popular length was 15 Year, with 83 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 156 $20,420,000 $130,897
    $<1k 136 $9,400,000 $69,118
    $2k-3k 42 $9,130,000 $217,381
    $3k-4k 14 $4,860,000 $347,143
    $5k+ 5 $2,455,000 $491,000
    $4k-5k 1 $395,000 $395,000

    United Bank Of Iowa's average total fees were $3,255, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 156 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 145 $16,145,000 $111,345
    3-4% 142 $20,610,000 $145,141
    4-5% 113 $19,085,000 $168,894
    6-7% 51 $4,565,000 $89,510
    7-8% 12 $1,240,000 $103,333
    2.5-3% 10 $1,130,000 $113,000

    During 2022, United Bank Of Iowa's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 5-6%, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 229 $13,505,000 $58,974 $2,260 4.97%
    $100k-200k 168 $23,630,000 $140,655 $3,144 4.90%
    $200k-400k 60 $15,250,000 $254,167 $3,891 4.55%
    $400k-600k 10 $4,670,000 $467,000 $5,722 4.10%
    $600k-1MM 5 $3,425,000 $685,000 $4,514 4.38%
    $1MM+ 1 $2,295,000 $2,295,000 $0 4.50%

    2022 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 229 originations, totaling $13,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 135 $10,745,000 $79,593 $2,535 4.97%
    $50k-75k 92 $9,080,000 $98,696 $2,830 4.87%
    $100k-150k 75 $12,595,000 $167,933 $3,158 4.72%
    $75k-100k 63 $8,945,000 $141,984 $3,065 4.95%
    $150k-250k 36 $8,570,000 $238,056 $3,752 5.02%
    $250k+ 14 $2,650,000 $189,286 $4,227 4.63%

    United Bank Of Iowa lent most frequently to those with incomes in the $50k or less range, with 135 originations. The second most popular income band? $50k-75k, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $16,140,000 $134,500 $2,932 4.78%
    30-36% 68 $8,550,000 $125,735 $3,155 4.92%
    <20% 62 $5,910,000 $95,323 $2,490 4.66%
    38% 19 $2,655,000 $139,737 $3,174 4.84%
    37% 15 $1,325,000 $88,333 $2,464 4.61%
    41% 13 $2,175,000 $167,308 $2,846 5.37%
    39% 12 $2,300,000 $191,667 $3,019 5.20%
    40% 11 $1,485,000 $135,000 $3,263 5.55%
    36% 10 $1,170,000 $117,000 $3,049 5.18%
    42% 8 $1,020,000 $127,500 $2,465 5.10%
    43% 3 $515,000 $171,667 $3,180 4.97%
    45% 3 $445,000 $148,333 $3,014 4.71%
    47% 3 $485,000 $161,667 $2,530 5.67%
    49% 3 $365,000 $121,667 $2,948 4.17%
    44% 2 $440,000 $220,000 $3,899 4.38%
    >60% 2 $1,420,000 $710,000 $2,395 4.56%
    46% 2 $520,000 $260,000 $2,849 5.00%
    50-60% 1 $495,000 $495,000 $6,056 3.50%
    48% 1 $65,000 $65,000 $2,141 3.13%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 409 $51,885,000 $126,858 $2,868 4.87%
    Not applicable 44 $8,310,000 $188,864 $0 4.72%
    Asian 12 $1,590,000 $132,500 $3,484 5.21%
    Native Hawaiian or Islander 4 $610,000 $152,500 $4,168 4.88%
    Black 1 $155,000 $155,000 $4,727 4.25%
    Other Asian 1 $105,000 $105,000 $1,876 6.00%
    Not provided 1 $85,000 $85,000 $2,355 3.50%
    American Indian 1 $35,000 $35,000 $1,891 5.50%

    Approval Rates

    Total approvals of all applications
    82.44%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.92%

    United Bank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 473 $62,775,000 $132,717

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    473 $62,775,000 $132,717

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $6,150,000 $113,889 $1,710 5.04%
    40-60% 68 $6,990,000 $102,794 $2,373 4.55%
    60-80% 147 $23,045,000 $156,769 $2,997 4.64%
    80-100% 168 $22,830,000 $135,893 $3,232 5.12%
    Over 100% 2 $950,000 $475,000 $2,382 4.56%
    Under 20% 34 $2,810,000 $82,647 $1,070 5.00%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Closing on a mortgage 1 100.0%