United Bank Of Iowa Mortgage Rates, Fees & Info

Ida Grove, IA

LEI: 2549002OCMCJIOOONI88

Tax ID: 42-0326042

5 stars - Updated: 6/16/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

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, Sioux City, Ames, and Des Moines 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 relatively high 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% 6/16/24
30 Year Conventional Refi 6.67% 6/16/24
30 Year Cash-out Refi 6.82% 6/16/24
30 Year USDA Purchase 7.16% 6/16/24
30 Year USDA Refi 6.89% 6/16/24
15 Year Conventional Purchase 6.29% 6/16/24
15 Year Conventional Refi 6.31% 6/16/24
15 Year Cash-out Refi 6.31% 6/16/24
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.

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

330

Origination Dollar Volume (All Markets)

$43,560,000
Show all (5) awards

Relative Rate

United Bank Of Iowa's average 30 year fixed mortgage rate was 7.11%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.63%.

Relative Fees (Closing Costs)

United Bank Of Iowa's average total fees/closing costs for a 30 year fixed rate mortgage were $3,112.

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 $9,089.

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 215 $25,545,000 $118,814 $2,697 7.06%
Storm Lake, IA (FHA|USDA|VA) 36 $6,520,000 $181,111 $3,702 7.10%
Carroll, IA (FHA|USDA|VA) 17 $2,235,000 $131,471 $2,549 6.79%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 14 $1,960,000 $140,000 $2,797 7.17%
AMES, IA (FHA|USDA|VA) 10 $1,460,000 $146,000 $4,635 6.89%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 6 $1,390,000 $231,667 $2,845 7.15%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 15 $1,285,000 $85,667 $2,607 7.03%
Fort Dodge, IA (FHA|USDA|VA) 7 $775,000 $110,714 $2,983 7.25%
Spencer, IA (FHA|USDA|VA) 3 $715,000 $238,333 $3,202 7.13%
Spirit Lake, IA (FHA|USDA|VA) 2 $490,000 $245,000 $3,055 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 6.50%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $275,000 $275,000 $4,569 7.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $235,000 $235,000 $2,651 7.88%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.75%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,948 7.25%
United Bank Of Iowa's top markets include Storm Lake, Carroll, Sioux City, Ames, and Des Moines among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Missouri (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: 36
    United Bank of Iowa
    Similarity Rank: 45
    Primebank
    Similarity Rank: 80
    DUPACO COMMUNITY
    Similarity Rank: 166
    FRONTIER FINANCIAL, INC.
    Similarity Rank: 200
    Great Southern Bank
    Similarity Rank: 348
    GREENSTATE CREDIT UNION
    Similarity Rank: 402
    Central Bank
    Similarity Rank: 760
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 812
    Northwest Bank
    Similarity Rank: 833

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 296 $39,670,000 $134,020 $2,635 7.02%
    USDA 34 $3,890,000 $114,412 $4,214 7.39%

    For 2023, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 296 originations. Their 2nd most popular type was USDA, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 246 $34,550,000 $140,447 $3,024 7.06%
    Refi 41 $5,075,000 $123,780 $1,977 6.80%
    Home Improvement 20 $1,110,000 $55,500 $1,795 7.42%
    Cash Out Refi 15 $2,425,000 $161,667 $3,519 7.09%
    Other 8 $400,000 $50,000 $1,414 7.44%

    For 2023, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 199 $28,915,000 $145,302 $3,112 7.11%
    15 Year 39 $4,895,000 $125,513 $3,029 6.71%
    20 Year 38 $5,560,000 $146,316 $2,282 6.74%
    10 Year 26 $1,480,000 $56,923 $1,407 7.24%
    Other 19 $2,125,000 $111,842 $1,451 7.42%
    5 Year 7 $395,000 $56,429 $867 7.45%
    1 Year 1 $35,000 $35,000 $0 7.50%
    3 Year 1 $155,000 $155,000 $0 7.00%

    For 2023, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 105 $15,225,000 $145,000
    $<1k 87 $7,165,000 $82,356
    $2k-3k 28 $5,920,000 $211,429
    $3k-4k 4 $1,530,000 $382,500
    $4k-5k 1 $465,000 $465,000
    $5k+ 1 $395,000 $395,000

    United Bank Of Iowa's average total fees were $3,112, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 105 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 166 $22,370,000 $134,759
    7-8% 131 $17,535,000 $133,855
    Over 8% 17 $1,365,000 $80,294
    5-6% 15 $2,195,000 $146,333
    4-5% 1 $95,000 $95,000

    During 2023, United Bank Of Iowa's average interest rate for loans was 7.11%, while their most frequently originated rate bucket for loans was 6-7%, with 166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 158 $9,810,000 $62,089 $2,232 7.09%
    $100k-200k 113 $16,115,000 $142,611 $3,330 7.07%
    $200k-400k 50 $13,010,000 $260,200 $3,374 6.96%
    $400k-600k 8 $3,810,000 $476,250 $3,397 6.78%
    $600k-1MM 1 $815,000 $815,000 $0 6.75%

    2023 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 158 originations, totaling $9,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $8,035,000 $110,068 $2,892 7.12%
    $50k or less 61 $4,905,000 $80,410 $2,520 7.03%
    $100k-150k 58 $8,450,000 $145,690 $2,811 7.12%
    $75k-100k 41 $5,515,000 $134,512 $3,436 7.12%
    $150k-250k 28 $5,840,000 $208,571 $3,202 7.12%
    $250k+ 26 $4,380,000 $168,462 $1,998 6.89%

    United Bank Of Iowa lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $50k or less, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 70 $8,570,000 $122,429 $2,923 7.11%
    30-36% 52 $7,110,000 $136,731 $3,010 7.30%
    <20% 29 $2,495,000 $86,034 $2,300 6.92%
    37% 13 $2,005,000 $154,231 $2,917 7.03%
    36% 10 $1,710,000 $171,000 $3,234 7.21%
    38% 10 $1,590,000 $159,000 $3,027 6.76%
    39% 9 $1,395,000 $155,000 $2,475 7.04%
    40% 9 $2,045,000 $227,222 $3,627 6.88%
    42% 8 $880,000 $110,000 $2,376 7.53%
    41% 7 $995,000 $142,143 $2,660 6.98%
    43% 3 $475,000 $158,333 $3,285 6.83%
    47% 2 $380,000 $190,000 $3,584 7.06%
    45% 2 $350,000 $175,000 $3,514 7.00%
    49% 1 $85,000 $85,000 $3,921 7.00%
    50-60% 1 $285,000 $285,000 $518 9.00%
    44% 1 $165,000 $165,000 $860 6.50%
    46% 1 $205,000 $205,000 $3,766 7.00%
    48% 1 $125,000 $125,000 $2,767 6.75%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 277 $35,095,000 $126,697 $2,805 7.06%
    Not applicable 39 $5,875,000 $150,641 $0 6.95%
    Asian 10 $2,010,000 $201,000 $3,801 7.19%
    Black 4 $580,000 $145,000 $4,621 7.50%

    Approval Rates

    Total approvals of all applications
    81.08%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.64%

    United Bank 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 330 $43,560,000 $132,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    330 $43,560,000 $132,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,725,000 $82,576 $1,838 6.98%
    40-60% 45 $6,985,000 $155,222 $2,368 7.02%
    60-80% 90 $12,340,000 $137,111 $2,745 6.89%
    80-100% 124 $17,910,000 $144,435 $3,239 7.15%
    Under 20% 38 $3,600,000 $94,737 $483 7.27%