United Bank Of Iowa Mortgage Rates, Fees & Info

Ida Grove, IA

LEI: 2549002OCMCJIOOONI88

Tax ID: 42-0326042

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
  • 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)

    • Bank Data

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

    • 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, Omaha, 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 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 6.83% 5/13/24
    30 Year Conventional Refi 6.67% 5/13/24
    30 Year Cash-out Refi 6.82% 5/13/24
    30 Year USDA Purchase 7.16% 5/13/24
    30 Year USDA Refi 6.89% 5/13/24
    15 Year Conventional Purchase 6.29% 5/13/24
    15 Year Conventional Refi 6.31% 5/13/24
    15 Year Cash-out Refi 6.31% 5/13/24
    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

    469

    Origination Dollar Volume (All Markets)

    $48,325,000

    Employee count

    275 Show all (7) 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
    Outside of Metro Areas 280 $25,650,000 $91,607 $2,238 4.86%
    Storm Lake, IA (FHA|USDA|VA) 66 $7,230,000 $109,545 $2,632 4.76%
    Carroll, IA (FHA|USDA|VA) 45 $5,965,000 $132,556 $2,665 4.75%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 21 $1,855,000 $88,333 $2,283 4.94%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 16 $1,780,000 $111,250 $2,602 4.83%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 7 $1,765,000 $252,143 $2,136 4.70%
    Fort Dodge, IA (FHA|USDA|VA) 18 $1,050,000 $58,333 $1,869 4.81%
    AMES, IA (FHA|USDA|VA) 7 $995,000 $142,143 $2,421 4.63%
    Spirit Lake, IA (FHA|USDA|VA) 2 $920,000 $460,000 $1,264 4.50%
    SIOUX FALLS, SD (FHA|USDA|VA) 2 $420,000 $210,000 $5,483 4.81%
    Mason City, IA (FHA|USDA|VA) 1 $255,000 $255,000 $3,305 4.63%
    TUCSON, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $6,114 4.25%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $115,000 $115,000 $1,770 4.88%
    Spencer, IA (FHA|USDA|VA) 1 $75,000 $75,000 $2,929 5.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $65,000 $65,000 $1,907 4.38%
    United Bank Of Iowa's top markets include Storm Lake, Carroll, Sioux City, Omaha, and Des Moines among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (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: 45
    Iowa Nebraska State Bank
    Similarity Rank: 50
    United Bank of Iowa
    Similarity Rank: 150
    DUPACO COMMUNITY
    Similarity Rank: 305
    Bankers' Bank
    Similarity Rank: 330
    Central Bank
    Similarity Rank: 506
    Great Western Bank
    Similarity Rank: 576
    Great Southern Bank
    Similarity Rank: 1104
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 1219
    Northwest Bank
    Similarity Rank: 1372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 396 $42,340,000 $106,919 $2,202 4.82%
    USDA 73 $5,985,000 $81,986 $2,983 4.85%

    For 2018, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 396 originations. Their 2nd most popular type was USDA, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 325 $35,125,000 $108,077 $2,414 4.81%
    Refi 56 $5,650,000 $100,893 $2,133 4.77%
    Cash Out Refi 53 $5,495,000 $103,679 $2,645 4.68%
    Other 18 $1,340,000 $74,444 $1,566 5.24%
    Home Improvement 17 $715,000 $42,059 $1,363 5.33%

    For 2018, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 325 originations. The 2nd most popular reason was Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 257 $30,355,000 $118,113 $2,604 4.75%
    15 Year 87 $6,465,000 $74,310 $2,009 4.68%
    20 Year 59 $6,525,000 $110,593 $2,273 4.83%
    Other 27 $2,715,000 $100,556 $1,088 5.23%
    10 Year 23 $1,315,000 $57,174 $1,245 5.39%
    5 Year 11 $585,000 $53,182 $568 5.30%
    1 Year 4 $350,000 $87,500 $944 5.22%
    3 Year 1 $15,000 $15,000 $35 4.10%

    For 2018, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 257 originations. The 2nd most popular length was 15 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 188 $12,830,000 $68,245
    $1k-2k 161 $19,645,000 $122,019
    $2k-3k 29 $6,205,000 $213,966
    $3k-4k 4 $1,150,000 $287,500
    $4k-5k 2 $800,000 $400,000

    United Bank Of Iowa's average total fees were $2,604, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 338 $37,440,000 $110,769
    5-6% 104 $7,960,000 $76,538
    3-4% 22 $2,810,000 $127,727
    6-7% 4 $110,000 $27,500
    7-8% 1 $5,000 $5,000

    During 2018, United Bank Of Iowa's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 338 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 286 $15,950,000 $55,769 $2,006 4.90%
    $100k-200k 132 $17,420,000 $131,970 $2,790 4.71%
    $200k-400k 45 $11,745,000 $261,000 $3,004 4.73%
    $400k-600k 4 $1,870,000 $467,500 $3,420 4.53%
    $600k-1MM 2 $1,340,000 $670,000 $1,159 4.75%

    2018 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 286 originations, totaling $15,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 169 $12,505,000 $73,994 $2,279 4.85%
    $50k-75k 116 $10,380,000 $89,483 $2,308 4.81%
    $100k-150k 56 $7,390,000 $131,964 $2,623 4.77%
    $75k-100k 54 $6,090,000 $112,778 $2,346 4.66%
    $150k-250k 25 $4,615,000 $184,600 $2,940 4.69%
    $250k+ 16 $2,790,000 $174,375 $1,820 5.19%

    United Bank Of Iowa lent most frequently to those with incomes in the $50k or less range, with 169 originations. The second most popular income band? $50k-75k, with 116 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 125 $12,155,000 $97,240 $2,362 4.69%
    30-36% 104 $11,200,000 $107,692 $2,348 4.78%
    <20% 60 $6,130,000 $102,167 $2,198 4.58%
    38% 15 $1,755,000 $117,000 $2,574 4.74%
    40% 13 $1,325,000 $101,923 $2,743 4.88%
    36% 13 $975,000 $75,000 $2,206 4.79%
    41% 12 $1,550,000 $129,167 $2,261 4.85%
    39% 11 $1,465,000 $133,182 $2,732 4.83%
    37% 11 $1,125,000 $102,273 $2,257 4.86%
    42% 7 $675,000 $96,429 $2,271 4.63%
    45% 4 $840,000 $210,000 $2,584 4.72%
    50-60% 3 $315,000 $105,000 $2,642 5.17%
    47% 2 $260,000 $130,000 $2,537 5.81%
    48% 1 $65,000 $65,000 $395 6.00%
    49% 1 $215,000 $215,000 $1,972 5.50%
    43% 1 $165,000 $165,000 $2,368 4.88%
    >60% 1 $385,000 $385,000 $3,035 4.13%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 125 originations. The next most common DTI ratio? 30-36%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 422 $42,470,000 $100,640 $2,331 4.81%
    Not applicable 24 $3,560,000 $148,333 $0 5.08%
    Asian 17 $1,885,000 $110,882 $2,871 4.85%
    Other Pacific Islander 1 $125,000 $125,000 $3,914 4.63%
    Other Asian 2 $120,000 $60,000 $2,430 4.75%
    Not provided 2 $100,000 $50,000 $1,627 5.06%
    Black 1 $65,000 $65,000 $1,936 4.13%

    Approval Rates

    Total approvals of all applications
    83.77%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.98%

    United Bank Of Iowa has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 469 $48,325,000 $103,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $2,980,000 $124,167
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 444 $45,240,000 $101,892

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $3,770,000 $104,722 $1,565 5.06%
    40-60% 53 $5,285,000 $99,717 $1,937 4.92%
    60-80% 133 $14,875,000 $111,842 $2,318 4.67%
    80-100% 204 $20,910,000 $102,500 $2,590 4.76%
    Over 100% 2 $180,000 $90,000 $3,055 4.69%
    Under 20% 41 $3,305,000 $80,610 $653 5.33%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Struggling to pay mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    United Bank of Iowa 1609 Hawkeye Drive Boone, IA 50036 Full Service B&M $2,853
    United Bank of Iowa 1802 23rd Street Harlan, IA 51537 Full Service B&M $53,466
    United Bank of Iowa 201 North Center Street Lake City, IA 51449 Full Service B&M $56,800
    United Bank of Iowa 210 Front Avenue Pocahontas, IA 50574 Full Service B&M $11,976
    United Bank of Iowa 219 Main Street Ida Grove, IA 51445 Limited, Drive-thru $0
    United Bank of Iowa 21945 State Highway 175 Onawa, IA 51040 Full Service B&M $37,977
    United Bank of Iowa 301 S. Main Street Odebolt, IA 51458 Full Service B&M $36,593
    United Bank of Iowa 10 N. Grove Street Kiron, IA 51448 Limited, Drive-thru $4,070
    United Bank of Iowa 101 East First Street Kingsley, IA 51028 Full Service B&M $27,987
    United Bank of Iowa 102 Main Street Galva, IA 51020 Full Service B&M $26,083
    United Bank of Iowa 109 West 3rd Avenue Arthur, IA 51431 Full Service B&M $19,012
    United Bank of Iowa 116 North Kiel Street Holstein, IA 51025 Full Service B&M $58,629
    United Bank of Iowa 12 Main Street Charter Oak, IA 51439 Full Service B&M $38,669
    United Bank of Iowa 120 South First Street Moville, IA 51039 Full Service B&M $25,114
    United Bank of Iowa 124 Oak Street Moorhead, IA 51558 Full Service B&M $23,623
    United Bank of Iowa 1270 Lake Avenue Storm Lake, IA 50588 Full Service B&M $55,610
    United Bank of Iowa 1334 Broadway Street Denison, IA 51442 Full Service B&M $71,868
    United Bank of Iowa 1608 First Avenue South Fort Dodge, IA 50501 Full Service B&M $60,582
    United Bank of Iowa 320 Front Street Pierson, IA 51048 Full Service B&M $19,703
    United Bank of Iowa 33 2nd Street Schleswig, IA 51461 Full Service B&M $34,647
    United Bank of Iowa 400 Morningside Drive Sac City, IA 50583 Full Service B&M $37,808
    United Bank of Iowa 408 Hwy 30 Dunlap, IA 51529 Full Service B&M $25,360
    United Bank of Iowa 417 - 4th Street Rockwell City, IA 50579 Full Service B&M $60,129
    United Bank of Iowa 425 East 9th Street Glidden, IA 51443 Full Service B&M $53,359
    United Bank of Iowa 501 2nd Street Ida Grove, IA 51445 Full Service B&M $237,566
    United Bank of Iowa 600 2nd Street Lohrville, IA 51453 Full Service B&M $13,310
    United Bank of Iowa 600 Head Street Churdan, IA 50050 Full Service B&M $25,773
    United Bank of Iowa 609 North Clark Street Carroll, IA 51401 Full Service B&M $80,425

    For 2018, United Bank Of Iowa had 28 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $62,766
    Net interest income $47,807
    Total noninterest income $9,167
    Gross Fiduciary activities income $172
    Service charges on deposit accounts $4,259
    Trading account gains and fees $0
    Additional Noninterest Income $4,736
    Pre-tax net operating income $27,115
    Securities gains (or losses, -) $43
    Income before extraordinary items $25,888
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $25,888
    Minority interest net income $0
    Net income $25,888
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $25,847

    United Bank Of Iowa's gross interest income from loans was $62,766,000.
    United Bank Of Iowa's net interest income from loans was $47,807,000.
    United Bank Of Iowa's fee based income from loans was $4,259,000.
    United Bank Of Iowa's net income from loans was $25,888,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $14,959
    Provision for credit losses $721
    Total noninterest expense $29,138
    Salaries and employee benefits $19,442
    Premises and equipment expense $3,201
    Additional noninterest expense $6,495
    Applicable income taxes $1,270
    Net charge-offs $132
    Cash dividends $13,955

    United Bank Of Iowa's interest expense for loans was $14,959,000.
    United Bank Of Iowa's payroll and benefits expense were $19,442,000.
    United Bank Of Iowa's property, plant and equipment expenses $3,201,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $1,260,038
    Deposits held in domestic offices $1,260,038
    Deposits by Individuals, partnerships, and corporations $1,093,957
    Deposits by U.S. Government $3,010
    Deposits by States and political subdivisions in the U.S. $146,011
    Deposits by Commercial banks and other depository institutions in U.S. $17,060
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $79,203
    Demand deposits $65,404
    Nontransaction accounts $1,180,835
    Money market deposit accounts (MMDAs) $117,346
    Other savings deposits (excluding MMDAs) $449,290
    Total time deposits $614,199
    Total time and savings deposits $1,194,634
    Noninterest-bearing deposits $218,176
    Interest-bearing deposits $1,041,862
    Retail deposits $1,097,328
    IRAs and Keogh plan accounts $55,813
    Brokered deposits $25,133
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,575,399
    Cash & Balances due from depository institutions $41,861
    Interest-bearing balances $21,489
    Total securities $269,362
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,171,704
    Loan and leases loss allowance $19,419
    Trading account assets $0
    Bank premises and fixed assets $30,086
    Other real estate owned $107
    Goodwill and other intangibles $10,994
    All other assets $51,285

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,575,399
    Total Liabilities $1,396,453
    Total deposits $1,260,038
    Interest-bearing deposits $1,041,862
    Deposits held in domestic offices $1,260,038
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $15,722
    Trading liabilities $0
    Other borrowed funds $112,700
    Subordinated debt $0
    All other liabilities $7,993

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,171,704
    Loan and leases loss allowance $19,419
    Total loans and leases (domestic) $1,191,123
    All real estate loans $706,508
    Real estate loans in domestic offices $706,508
    Construction and development loans $17,389
    Residential 1-4 family construction $8,197
    Other construction, all land development and other land $9,192
    Loans secured by nonfarm nonresidential properties $29,853
    Nonfarm nonresidential secured by owner-occupied properties $15,206
    Commercial real estate & other non-farm, non-residential $14,647
    Multifamily residential real estate $5,952
    1-4 family residential loans $122,919
    Farmland loans $530,395
    Loans held in foreign offices $0
    Farm loans $370,654
    Commercial and industrial loans $54,284
    To non-U.S. addressees $0
    Loans to individuals $49,266
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $34,085
    Other loans to individuals $15,181
    All other loans & leases $10,410
    Loans to foreign governments and official institutions $0
    Other loans $2,393
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $276
    Non 1-4 family restructured loans & leases $257
    Total loans and leases (foreign) $0

    United Bank of Iowa had $1,171,704,000 of loans outstanding in 2018. $706,508,000 of loans were in real estate loans. $17,389,000 of loans were in development loans. $5,952,000 of loans were in multifamily mortgage loans. $122,919,000 of loans were in 1-4 family mortgage loans. $370,654,000 of loans were in farm loans. $0 of loans were in credit card loans. $34,085,000 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 247 $18,130 $73,401
    Nonfarm, nonresidential loans - <$100k 165 $5,562 $33,709
    Nonfarm, nonresidential loans - $100-250k 60 $6,778 $112,967
    Nonfarm, nonresidential loans - $250k-1MM 22 $5,790 $263,182
    Commercial & Industrial, US addressed loans - <$1MM 1,151 $41,717 $36,244
    Commercial & Industrial, US addressed loans - <$100k 1,012 $22,304 $22,040
    Commercial & Industrial, US addressed loans - $100-250k 91 $8,880 $97,582
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $10,533 $219,438
    Farmland loans - <$1MM 1,249 $203,783 $163,157
    Farmland loans - <$100k 310 $12,599 $40,642
    Farmland loans - $100-250k 487 $64,641 $132,733
    Farmland loans - $250k-1MM 452 $126,543 $279,962
    Agriculture operations loans - <$1MM 3,375 $197,930 $58,646
    Agriculture operations loans - <$100k 2,430 $57,169 $23,526
    Agriculture operations loans - $100-250k 622 $70,681 $113,635
    Agriculture operations loans - $250k-1MM 323 $70,080 $216,966