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: Carroll, Storm Lake, Fort Dodge, Sioux City, and Ames among others. We have data for 14 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

    418

    Origination Dollar Volume (All Markets)

    $43,480,000

    Employee count

    291 Show all (6) 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 261 $25,775,000 $98,755 $2,421 4.52%
    Carroll, IA (FHA|USDA|VA) 42 $5,440,000 $129,524 $2,621 4.59%
    Storm Lake, IA (FHA|USDA|VA) 37 $3,905,000 $105,541 $2,745 4.52%
    Fort Dodge, IA (FHA|USDA|VA) 26 $2,530,000 $97,308 $1,962 4.22%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 23 $2,055,000 $89,348 $2,468 4.67%
    AMES, IA (FHA|USDA|VA) 8 $1,340,000 $167,500 $3,084 4.48%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 11 $1,205,000 $109,545 $2,269 4.63%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 4 $470,000 $117,500 $2,592 4.97%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $215,000 $215,000 $0 5.75%
    MANKATO, MN (FHA|USDA|VA) 1 $125,000 $125,000 $3,405 4.25%
    Spirit Lake, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,318 3.75%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $105,000 $105,000 $2,570 4.25%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $3,450 4.63%
    Spencer, IA (FHA|USDA|VA) 1 $95,000 $95,000 $2,305 4.13%
    United Bank Of Iowa's top markets include Carroll, Storm Lake, Fort Dodge, Sioux City, and Ames among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Arizona (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: 108
    First Dakota National Bank
    Similarity Rank: 120
    United Bank of Iowa
    Similarity Rank: 210
    DUPACO COMMUNITY
    Similarity Rank: 252
    FRONTIER FINANCIAL, INC.
    Similarity Rank: 276
    Bankers' Bank
    Similarity Rank: 384
    Great Western Bank
    Similarity Rank: 396
    Central Bank
    Similarity Rank: 550
    West Gate Bank
    Similarity Rank: 847
    Northwest Bank
    Similarity Rank: 1276

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 365 $38,725,000 $106,096 $2,309 4.54%
    USDA 53 $4,755,000 $89,717 $3,260 4.36%

    For 2019, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 365 originations. Their 2nd most popular type was USDA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 288 $31,780,000 $110,347 $2,514 4.51%
    Refi 53 $5,265,000 $99,340 $2,187 4.56%
    Cash Out Refi 52 $5,260,000 $101,154 $2,705 4.26%
    Other 13 $765,000 $58,846 $1,645 5.03%
    Home Improvement 12 $410,000 $34,167 $1,434 5.13%

    For 2019, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 238 $28,950,000 $121,639 $2,683 4.45%
    15 Year 79 $5,735,000 $72,595 $2,088 4.42%
    20 Year 49 $5,195,000 $106,020 $2,311 4.38%
    10 Year 21 $1,835,000 $87,381 $1,071 5.26%
    Other 18 $1,340,000 $74,444 $1,144 4.91%
    5 Year 12 $390,000 $32,500 $922 5.14%
    3 Year 1 $35,000 $35,000 $509 6.50%

    For 2019, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 238 originations. The 2nd most popular length was 15 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 156 $18,880,000 $121,026
    $<1k 148 $9,050,000 $61,149
    $2k-3k 28 $5,770,000 $206,071
    $3k-4k 5 $1,495,000 $299,000
    $4k-5k 1 $775,000 $775,000

    United Bank Of Iowa's average total fees were $2,683, 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
    4-5% 248 $25,050,000 $101,008
    3-4% 90 $11,210,000 $124,556
    5-6% 74 $6,780,000 $91,622
    6-7% 6 $440,000 $73,333

    During 2019, United Bank Of Iowa's average interest rate for loans was 4.45%, while their most frequently originated rate bucket for loans was 4-5%, with 248 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 251 $14,695,000 $58,546 $2,093 4.58%
    $100k-200k 126 $17,120,000 $135,873 $2,760 4.41%
    $200k-400k 38 $9,860,000 $259,474 $3,501 4.45%
    $600k-1MM 2 $1,380,000 $690,000 $5,309 4.63%
    $400k-600k 1 $425,000 $425,000 $0 5.25%

    2019 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 251 originations, totaling $14,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 122 $8,890,000 $72,869 $2,313 4.49%
    $50k-75k 106 $9,910,000 $93,491 $2,428 4.45%
    $75k-100k 71 $7,755,000 $109,225 $2,513 4.48%
    $100k-150k 53 $8,005,000 $151,038 $2,754 4.40%
    $150k-250k 25 $3,965,000 $158,600 $2,885 4.47%
    $250k+ 11 $1,825,000 $165,909 $1,612 5.05%

    United Bank Of Iowa lent most frequently to those with incomes in the $50k or less range, with 122 originations. The second most popular income band? $50k-75k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 119 $12,625,000 $106,092 $2,452 4.39%
    30-36% 70 $7,730,000 $110,429 $2,666 4.35%
    <20% 64 $4,920,000 $76,875 $2,052 4.47%
    36% 18 $1,610,000 $89,444 $2,458 4.39%
    38% 13 $1,625,000 $125,000 $2,676 4.22%
    39% 12 $1,760,000 $146,667 $2,903 4.16%
    42% 8 $1,570,000 $196,250 $2,931 4.56%
    40% 8 $800,000 $100,000 $2,526 4.30%
    41% 6 $540,000 $90,000 $2,412 4.65%
    37% 5 $445,000 $89,000 $2,112 4.48%
    43% 4 $1,120,000 $280,000 $3,552 3.97%
    >60% 3 $285,000 $95,000 $2,149 4.17%
    45% 3 $425,000 $141,667 $2,674 4.58%
    46% 2 $120,000 $60,000 $1,294 5.31%
    48% 2 $180,000 $90,000 $2,017 5.44%
    49% 2 $240,000 $120,000 $1,873 4.88%
    50-60% 1 $95,000 $95,000 $2,179 4.00%
    44% 1 $125,000 $125,000 $3,983 4.88%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 379 $39,315,000 $103,734 $2,456 4.48%
    Not applicable 23 $2,585,000 $112,391 $0 5.20%
    Asian 9 $835,000 $92,778 $2,566 4.38%
    American Indian 2 $350,000 $175,000 $3,055 4.19%
    Not provided 4 $290,000 $72,500 $2,043 4.81%
    Black 1 $105,000 $105,000 $2,414 4.50%

    Approval Rates

    Total approvals of all applications
    79.61%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.25%

    United Bank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 418 $43,480,000 $104,019

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $2,215,000 $130,294
    Single Family (1-4 Units):Manufactured 6 $510,000 $85,000
    Single Family (1-4 Units):Site-Built 395 $40,755,000 $103,177

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $1,790,000 $63,929 $1,487 4.87%
    40-60% 52 $3,990,000 $76,731 $2,004 4.63%
    60-80% 129 $15,495,000 $120,116 $2,415 4.48%
    80-100% 184 $19,790,000 $107,554 $2,698 4.38%
    Over 100% 1 $85,000 $85,000 $2,485 4.00%
    Under 20% 24 $2,330,000 $97,083 $810 5.19%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    United Bank of Iowa 109 West 3rd Avenue Arthur, IA 51431 Full Service B&M $20,076
    United Bank of Iowa 111 East 2nd Street Aurelia, IA 51005 Full Service B&M $17,128
    United Bank of Iowa 116 North Kiel Street Holstein, IA 51025 Full Service B&M $63,635
    United Bank of Iowa 12 Main Street Charter Oak, IA 51439 Full Service B&M $37,973
    United Bank of Iowa 120 South First Street Moville, IA 51039 Full Service B&M $25,904
    United Bank of Iowa 124 Oak Street Moorhead, IA 51558 Full Service B&M $23,058
    United Bank of Iowa 1270 Lake Avenue Storm Lake, IA 50588 Full Service B&M $59,650
    United Bank of Iowa 1334 Broadway Street Denison, IA 51442 Full Service B&M $75,362
    United Bank of Iowa 1608 First Avenue South Fort Dodge, IA 50501 Full Service B&M $53,989
    United Bank of Iowa 1609 Hawkeye Drive Boone, IA 50036 Full Service B&M $12,268
    United Bank of Iowa 1802 23rd Street Harlan, IA 51537 Full Service B&M $54,174
    United Bank of Iowa 201 North Center Street Lake City, IA 51449 Full Service B&M $55,198
    United Bank of Iowa 202 West Elm Avenue Pocahontas, IA 50574 Limited, Drive-thru $0
    United Bank of Iowa 316 Garfield Rolfe, IA 50581 Full Service B&M $24,880
    United Bank of Iowa 320 Front Street Pierson, IA 51048 Full Service B&M $19,793
    United Bank of Iowa 210 Front Avenue Pocahontas, IA 50574 Full Service B&M $23,167
    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 $36,857
    United Bank of Iowa 301 S. Main Street Odebolt, IA 51458 Full Service B&M $35,658
    United Bank of Iowa 33 2nd Street Schleswig, IA 51461 Full Service B&M $37,876
    United Bank of Iowa 400 Morningside Drive Sac City, IA 50583 Full Service B&M $39,112
    United Bank of Iowa 600 Head Street Churdan, IA 50050 Full Service B&M $24,755
    United Bank of Iowa 609 North Clark Street Carroll, IA 51401 Full Service B&M $80,032
    United Bank of Iowa 10 N. Grove Street Kiron, IA 51448 Limited, Drive-thru $4,326
    United Bank of Iowa 100 W Pine Street Marcus, IA 51035 Full Service B&M $5,914
    United Bank of Iowa 101 East First Street Kingsley, IA 51028 Full Service B&M $30,426
    United Bank of Iowa 101 North Lewis Avenue Cleghorn, IA 51014 Full Service B&M $11,695
    United Bank of Iowa 102 Main Street Galva, IA 51020 Full Service B&M $24,614
    United Bank of Iowa 408 Hwy 30 Dunlap, IA 51529 Full Service B&M $28,073
    United Bank of Iowa 417 - 4th Street Rockwell City, IA 50579 Full Service B&M $63,027
    United Bank of Iowa 425 East 9th Street Glidden, IA 51443 Full Service B&M $55,595
    United Bank of Iowa 501 2nd Street Ida Grove, IA 51445 Full Service B&M $239,351
    United Bank of Iowa 600 2nd Street Lohrville, IA 51453 Full Service B&M $13,288

    For 2019, United Bank Of Iowa had 33 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $70,189
    Net interest income $50,077
    Total noninterest income $10,001
    Gross Fiduciary activities income $171
    Service charges on deposit accounts $4,340
    Trading account gains and fees $0
    Additional Noninterest Income $5,490
    Pre-tax net operating income $27,341
    Securities gains (or losses, -) $22
    Income before extraordinary items $26,058
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,058
    Minority interest net income $0
    Net income $26,058
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $26,037

    United Bank Of Iowa's gross interest income from loans was $70,189,000.
    United Bank Of Iowa's net interest income from loans was $50,077,000.
    United Bank Of Iowa's fee based income from loans was $4,340,000.
    United Bank Of Iowa's net income from loans was $26,058,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $20,112
    Provision for credit losses $657
    Total noninterest expense $32,080
    Salaries and employee benefits $20,650
    Premises and equipment expense $3,665
    Additional noninterest expense $7,765
    Applicable income taxes $1,305
    Net charge-offs $619
    Cash dividends $25,638

    United Bank Of Iowa's interest expense for loans was $20,112,000.
    United Bank Of Iowa's payroll and benefits expense were $20,650,000.
    United Bank Of Iowa's property, plant and equipment expenses $3,665,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    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 $1,409,060
    Deposits held in domestic offices $1,409,060
    Deposits by Individuals, partnerships, and corporations $1,202,821
    Deposits by U.S. Government $3,069
    Deposits by States and political subdivisions in the U.S. $182,643
    Deposits by Commercial banks and other depository institutions in U.S. $20,527
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $87,247
    Demand deposits $49,731
    Nontransaction accounts $1,321,813
    Money market deposit accounts (MMDAs) $134,849
    Other savings deposits (excluding MMDAs) $547,486
    Total time deposits $639,478
    Total time and savings deposits $1,359,329
    Noninterest-bearing deposits $236,511
    Interest-bearing deposits $1,172,549
    Retail deposits $1,256,896
    IRAs and Keogh plan accounts $63,788
    Brokered deposits $17,557
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,742,636
    Cash & Balances due from depository institutions $53,273
    Interest-bearing balances $32,905
    Total securities $330,965
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,249,873
    Loan and leases loss allowance $19,456
    Trading account assets $0
    Bank premises and fixed assets $33,218
    Other real estate owned $15
    Goodwill and other intangibles $18,423
    All other assets $56,869

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,742,635
    Total Liabilities $1,551,556
    Total deposits $1,409,060
    Interest-bearing deposits $1,172,549
    Deposits held in domestic offices $1,409,060
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $15,894
    Trading liabilities $0
    Other borrowed funds $117,713
    Subordinated debt $0
    All other liabilities $8,889

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,249,873
    Loan and leases loss allowance $19,456
    Total loans and leases (domestic) $1,269,329
    All real estate loans $740,150
    Real estate loans in domestic offices $740,150
    Construction and development loans $18,529
    Residential 1-4 family construction $6,506
    Other construction, all land development and other land $12,023
    Loans secured by nonfarm nonresidential properties $31,788
    Nonfarm nonresidential secured by owner-occupied properties $16,525
    Commercial real estate & other non-farm, non-residential $15,263
    Multifamily residential real estate $6,019
    1-4 family residential loans $128,257
    Farmland loans $555,557
    Loans held in foreign offices $0
    Farm loans $399,520
    Commercial and industrial loans $65,160
    To non-U.S. addressees $0
    Loans to individuals $51,518
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $36,528
    Other loans to individuals $14,990
    All other loans & leases $12,982
    Loans to foreign governments and official institutions $0
    Other loans $4,237
    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 $274
    Non 1-4 family restructured loans & leases $256
    Total loans and leases (foreign) $0

    United Bank of Iowa had $1,249,873,000 of loans outstanding in 2019. $740,150,000 of loans were in real estate loans. $18,529,000 of loans were in development loans. $6,019,000 of loans were in multifamily mortgage loans. $128,257,000 of loans were in 1-4 family mortgage loans. $399,520,000 of loans were in farm loans. $0 of loans were in credit card loans. $36,528,000 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 267 $20,287 $75,981
    Nonfarm, nonresidential loans - <$100k 182 $6,052 $33,253
    Nonfarm, nonresidential loans - $100-250k 59 $6,609 $112,017
    Nonfarm, nonresidential loans - $250k-1MM 26 $7,626 $293,308
    Commercial & Industrial, US addressed loans - <$1MM 1,323 $51,006 $38,553
    Commercial & Industrial, US addressed loans - <$100k 1,147 $25,678 $22,387
    Commercial & Industrial, US addressed loans - $100-250k 116 $11,519 $99,302
    Commercial & Industrial, US addressed loans - $250k-1MM 60 $13,809 $230,150
    Farmland loans - <$1MM 1,279 $205,978 $161,046
    Farmland loans - <$100k 323 $13,492 $41,771
    Farmland loans - $100-250k 495 $65,134 $131,584
    Farmland loans - $250k-1MM 461 $127,352 $276,252
    Agriculture operations loans - <$1MM 3,700 $210,655 $56,934
    Agriculture operations loans - <$100k 2,673 $62,766 $23,481
    Agriculture operations loans - $100-250k 676 $72,924 $107,876
    Agriculture operations loans - $250k-1MM 351 $74,965 $213,575