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

Jump to:

Mortgage Data

Bank Data

Review & Overview

United Bank Of Iowa is a smaller bank specializing in Home Purchase and Refi loans. United Bank Of Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Carroll, Storm Lake, Omaha, Sioux City, and Fort Dodge 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% 11/21/24
30 Year Conventional Refi 6.67% 11/21/24
30 Year Cash-out Refi 6.82% 11/21/24
30 Year USDA Purchase 7.16% 11/21/24
30 Year USDA Refi 6.89% 11/21/24
15 Year Conventional Purchase 6.29% 11/21/24
15 Year Conventional Refi 6.31% 11/21/24
15 Year Cash-out Refi 6.31% 11/21/24
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

563

Origination Dollar Volume (All Markets)

$61,125,000

Employee count

292

Awards

United Bank of Iowa 30 Year Conventional Loans silver United Bank of Iowa USDA Loans silver United Bank of Iowa 30 Year Conventional Loans silver United Bank of Iowa USDA Loans silver
Show all (4) 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 359 $35,325,000 $98,398 $2,388 3.85%
Carroll, IA (FHA|USDA|VA) 48 $5,970,000 $124,375 $2,711 3.72%
Storm Lake, IA (FHA|USDA|VA) 49 $5,495,000 $112,143 $2,856 3.93%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 27 $2,995,000 $110,926 $2,875 3.78%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 22 $2,520,000 $114,545 $2,776 3.80%
Fort Dodge, IA (FHA|USDA|VA) 24 $2,390,000 $99,583 $1,878 3.52%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 9 $2,375,000 $263,889 $3,540 3.72%
AMES, IA (FHA|USDA|VA) 13 $1,745,000 $134,231 $2,719 3.75%
Spirit Lake, IA (FHA|USDA|VA) 4 $810,000 $202,500 $3,748 3.03%
Brainerd, MN (FHA|USDA|VA) 1 $485,000 $485,000 $0 2.90%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $450,000 $225,000 $3,779 3.06%
Mason City, IA (FHA|USDA|VA) 2 $310,000 $155,000 $3,022 3.44%
LINCOLN, NE (FHA|USDA|VA) 1 $195,000 $195,000 $3,558 3.50%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.00%
Spencer, IA (FHA|USDA|VA) 1 $25,000 $25,000 $1,431 4.25%
United Bank Of Iowa's top markets include Carroll, Storm Lake, Omaha, Sioux City, and Fort Dodge among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nebraska (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.

    First PREMIER Bank
    Similarity Rank: 80
    GREENSTATE CREDIT UNION
    Similarity Rank: 126
    United Bank of Iowa
    Similarity Rank: 180
    SIOUXLAND FEDERAL CREDIT UNION
    Similarity Rank: 182
    First Dakota National Bank
    Similarity Rank: 185
    DUPACO COMMUNITY
    Similarity Rank: 204
    FRONTIER FINANCIAL, INC.
    Similarity Rank: 370
    Great Western Bank
    Similarity Rank: 684
    Central Bank
    Similarity Rank: 1782

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 502 $55,430,000 $110,418 $2,372 3.80%
    USDA 61 $5,695,000 $93,361 $3,383 3.94%

    For 2020, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 502 originations. Their 2nd most popular type was USDA, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 329 $35,475,000 $107,827 $2,503 3.90%
    Refi 133 $14,255,000 $107,180 $2,243 3.63%
    Cash Out Refi 81 $10,415,000 $128,580 $2,973 3.59%
    Home Improvement 13 $415,000 $31,923 $1,455 4.47%
    Other 7 $565,000 $80,714 $1,904 4.63%

    For 2020, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 329 originations. The 2nd most popular reason was Refi, with 133 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 282 $33,510,000 $118,830 $2,627 3.90%
    15 Year 126 $12,270,000 $97,381 $2,435 3.48%
    20 Year 84 $9,960,000 $118,571 $2,593 3.59%
    10 Year 38 $1,940,000 $51,053 $1,488 4.21%
    Other 23 $2,285,000 $99,348 $1,450 4.39%
    5 Year 6 $450,000 $75,000 $1,649 4.63%
    1 Year 3 $605,000 $201,667 $194 4.75%
    3 Year 1 $105,000 $105,000 $0 3.00%

    For 2020, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 282 originations. The 2nd most popular length was 15 Year, with 126 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 214 $15,090,000 $70,514
    $1k-2k 192 $24,780,000 $129,063
    $2k-3k 39 $8,345,000 $213,974
    $3k-4k 10 $2,770,000 $277,000
    $4k-5k 1 $315,000 $315,000
    $5k+ 1 $485,000 $485,000

    United Bank Of Iowa's average total fees were $2,627, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 352 $38,360,000 $108,977
    4-5% 141 $13,205,000 $93,652
    2.5-3% 52 $8,410,000 $161,731
    5-6% 12 $670,000 $55,833
    6-7% 3 $75,000 $25,000
    <2.5% 2 $330,000 $165,000

    During 2020, United Bank Of Iowa's average interest rate for loans was 3.90%, while their most frequently originated rate bucket for loans was 3-4%, with 352 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 312 $18,330,000 $58,750 $2,068 3.91%
    $100k-200k 190 $26,280,000 $138,316 $2,829 3.74%
    $200k-400k 56 $14,190,000 $253,393 $3,397 3.55%
    $400k-600k 5 $2,325,000 $465,000 $4,267 3.28%

    2020 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 312 originations, totaling $18,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 169 $12,025,000 $71,154 $2,338 3.97%
    $50k-75k 112 $10,610,000 $94,732 $2,372 3.90%
    $100k-150k 84 $11,710,000 $139,405 $2,671 3.57%
    $75k-100k 74 $8,820,000 $119,189 $2,562 3.82%
    $150k-250k 37 $6,795,000 $183,649 $3,269 3.43%
    $250k+ 16 $2,060,000 $128,750 $5,008 4.08%

    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 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 167 $19,895,000 $119,132 $2,531 3.65%
    <20% 112 $11,070,000 $98,839 $2,290 3.71%
    30-36% 67 $6,995,000 $104,403 $2,581 3.80%
    36% 20 $2,430,000 $121,500 $2,423 3.99%
    39% 19 $2,465,000 $129,737 $2,699 3.82%
    38% 17 $1,885,000 $110,882 $2,951 4.18%
    40% 16 $2,070,000 $129,375 $2,772 3.90%
    37% 13 $1,435,000 $110,385 $2,848 3.88%
    42% 10 $1,500,000 $150,000 $2,702 4.18%
    41% 7 $635,000 $90,714 $2,465 3.50%
    43% 4 $460,000 $115,000 $2,822 3.94%
    45% 4 $380,000 $95,000 $1,827 4.16%
    50-60% 4 $520,000 $130,000 $2,023 4.34%
    >60% 3 $315,000 $105,000 $2,220 3.71%
    44% 1 $125,000 $125,000 $2,531 4.00%
    46% 1 $105,000 $105,000 $1,771 3.88%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 167 originations. The next most common DTI ratio? <20%, with 112 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 503 $53,805,000 $106,968 $2,497 3.80%
    Not applicable 42 $5,120,000 $121,905 $0 3.85%
    Asian 9 $965,000 $107,222 $2,575 3.96%
    Not provided 5 $865,000 $173,000 $3,434 4.15%
    American Indian 2 $210,000 $105,000 $2,557 4.13%
    Black 1 $105,000 $105,000 $2,364 4.38%
    Native Hawaiian or Islander 1 $55,000 $55,000 $1,790 3.00%

    Approval Rates

    Total approvals of all applications
    82.19%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.77%

    United Bank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 563 $61,125,000 $108,570

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $135,000 $135,000
    Multifamily:Site-Built 27 $2,815,000 $104,259
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 534 $58,140,000 $108,876

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $3,725,000 $76,020 $1,770 3.95%
    40-60% 75 $7,655,000 $102,067 $2,073 3.80%
    60-80% 188 $23,150,000 $123,138 $2,551 3.69%
    80-100% 220 $24,780,000 $112,636 $2,704 3.84%
    Under 20% 31 $1,815,000 $58,548 $806 4.19%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 3 50.0%
    UNITED COMMUNITY BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    UNITED COMMUNITY BANK Conventional home mortgage Closing on a mortgage 1 16.7%
    UNITED COMMUNITY BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 16.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    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 $38,403
    United Bank of Iowa 301 S. Main Street Odebolt, IA 51458 Full Service B&M $38,599
    United Bank of Iowa 316 Garfield Rolfe, IA 50581 Full Service B&M $23,211
    United Bank of Iowa 100 W Pine Street Marcus, IA 51035 Full Service B&M $5,916
    United Bank of Iowa 200 Main Street Lytton, IA 50561 Full Service B&M $10,628
    United Bank of Iowa 101 East First Street Kingsley, IA 51028 Full Service B&M $38,727
    United Bank of Iowa 200-202 Main Street Cushing, IA 51018 Full Service B&M $6,598
    United Bank of Iowa 201 North Center Street Lake City, IA 51449 Full Service B&M $63,300
    United Bank of Iowa 202 Main Street Alta, IA 51002 Full Service B&M $19,024
    United Bank of Iowa 210 Front Avenue Pocahontas, IA 50574 Full Service B&M $29,342
    United Bank of Iowa 320 Front Street Pierson, IA 51048 Full Service B&M $20,685
    United Bank of Iowa 101 North Lewis Avenue Cleghorn, IA 51014 Full Service B&M $12,335
    United Bank of Iowa 33 2nd Street Schleswig, IA 51461 Full Service B&M $42,906
    United Bank of Iowa 400 Morningside Drive Sac City, IA 50583 Full Service B&M $41,577
    United Bank of Iowa 102 Main Street Galva, IA 51020 Full Service B&M $26,512
    United Bank of Iowa 408 Hwy 30 Dunlap, IA 51529 Full Service B&M $32,523
    United Bank of Iowa 109 West 3rd Avenue Arthur, IA 51431 Full Service B&M $21,493
    United Bank of Iowa 417 - 4th Street Rockwell City, IA 50579 Full Service B&M $71,462
    United Bank of Iowa 425 East 9th Street Glidden, IA 51443 Full Service B&M $54,889
    United Bank of Iowa 116 North Kiel Street Holstein, IA 51025 Full Service B&M $84,658
    United Bank of Iowa 12 Main Street Charter Oak, IA 51439 Full Service B&M $39,614
    United Bank of Iowa 501 2nd Street Ida Grove, IA 51445 Full Service B&M $272,801
    United Bank of Iowa 600 2nd Street Lohrville, IA 51453 Full Service B&M $14,579
    United Bank of Iowa 600 Head Street Churdan, IA 50050 Full Service B&M $27,031
    United Bank of Iowa 609 North Clark Street Carroll, IA 51401 Full Service B&M $92,713
    United Bank of Iowa 10 N. Grove Street Kiron, IA 51448 Limited, Drive-thru $4,090
    United Bank of Iowa 120 South First Street Moville, IA 51039 Full Service B&M $25,289
    United Bank of Iowa 124 Oak Street Moorhead, IA 51558 Full Service B&M $23,023
    United Bank of Iowa 1270 Lake Avenue Storm Lake, IA 50588 Full Service B&M $69,344
    United Bank of Iowa 1334 Broadway Street Denison, IA 51442 Full Service B&M $82,696
    United Bank of Iowa 148 Main Street Aurelia, IA 51005 Full Service B&M $37,836
    United Bank of Iowa 15 East Main Street Anthon, IA 51004 Full Service B&M $11,323
    United Bank of Iowa 1608 First Avenue South Fort Dodge, IA 50501 Full Service B&M $55,262
    United Bank of Iowa 1609 Hawkeye Drive Boone, IA 50036 Full Service B&M $20,169
    United Bank of Iowa 1802 23rd Street Harlan, IA 51537 Full Service B&M $54,417

    For 2020, United Bank Of Iowa had 36 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $65,890
    Net interest income $51,070
    Total noninterest income $9,643
    Gross Fiduciary activities income $200
    Service charges on deposit accounts $3,768
    Trading account gains and fees $0
    Additional Noninterest Income $5,675
    Pre-tax net operating income $25,330
    Securities gains (or losses, -) $1,245
    Income before extraordinary items $25,307
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $25,307
    Minority interest net income $0
    Net income $25,307
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $24,124

    United Bank Of Iowa's gross interest income from loans was $65,890,000.
    United Bank Of Iowa's net interest income from loans was $51,070,000.
    United Bank Of Iowa's fee based income from loans was $3,768,000.
    United Bank Of Iowa's net income from loans was $25,307,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $14,820
    Provision for credit losses $1,054
    Total noninterest expense $34,329
    Salaries and employee benefits $23,034
    Premises and equipment expense $3,796
    Additional noninterest expense $7,499
    Applicable income taxes $1,268
    Net charge-offs $981
    Cash dividends $10,970

    United Bank Of Iowa's interest expense for loans was $14,820,000.
    United Bank Of Iowa's payroll and benefits expense were $23,034,000.
    United Bank Of Iowa's property, plant and equipment expenses $3,796,000.

    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 $1,551,021
    Deposits held in domestic offices $1,551,021
    Deposits by Individuals, partnerships, and corporations $1,345,228
    Deposits by U.S. Government $80
    Deposits by States and political subdivisions in the U.S. $193,296
    Deposits by Commercial banks and other depository institutions in U.S. $12,417
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $112,589
    Demand deposits $70,843
    Nontransaction accounts $1,438,432
    Money market deposit accounts (MMDAs) $159,492
    Other savings deposits (excluding MMDAs) $659,126
    Total time deposits $619,814
    Total time and savings deposits $1,480,178
    Noninterest-bearing deposits $315,332
    Interest-bearing deposits $1,235,689
    Retail deposits $1,359,909
    IRAs and Keogh plan accounts $63,143
    Brokered deposits $14,431
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,866,595
    Cash & Balances due from depository institutions $121,010
    Interest-bearing balances $75,762
    Total securities $357,448
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,285,573
    Loan and leases loss allowance $19,529
    Trading account assets $0
    Bank premises and fixed assets $31,571
    Other real estate owned $54
    Goodwill and other intangibles $17,817
    All other assets $53,122

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,866,595
    Total Liabilities $1,659,658
    Total deposits $1,551,021
    Interest-bearing deposits $1,235,689
    Deposits held in domestic offices $1,551,021
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $15,504
    Trading liabilities $0
    Other borrowed funds $84,864
    Subordinated debt $0
    All other liabilities $8,269

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,285,573
    Loan and leases loss allowance $19,529
    Total loans and leases (domestic) $1,305,102
    All real estate loans $786,650
    Real estate loans in domestic offices $786,650
    Construction and development loans $12,896
    Residential 1-4 family construction $8,487
    Other construction, all land development and other land $4,409
    Loans secured by nonfarm nonresidential properties $34,007
    Nonfarm nonresidential secured by owner-occupied properties $18,709
    Commercial real estate & other non-farm, non-residential $15,298
    Multifamily residential real estate $6,328
    1-4 family residential loans $140,199
    Farmland loans $593,220
    Loans held in foreign offices $0
    Farm loans $370,466
    Commercial and industrial loans $80,141
    To non-U.S. addressees $0
    Loans to individuals $54,840
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $39,592
    Other loans to individuals $15,248
    All other loans & leases $13,005
    Loans to foreign governments and official institutions $0
    Other loans $5,974
    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 $715
    Non 1-4 family restructured loans & leases $699
    Total loans and leases (foreign) $0

    United Bank of Iowa had $1,285,573,000 of loans outstanding in 2020. $786,650,000 of loans were in real estate loans. $12,896,000 of loans were in development loans. $6,328,000 of loans were in multifamily mortgage loans. $140,199,000 of loans were in 1-4 family mortgage loans. $370,466,000 of loans were in farm loans. $0 of loans were in credit card loans. $39,592,000 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 258 $22,022 $85,357
    Nonfarm, nonresidential loans - <$100k 161 $5,532 $34,360
    Nonfarm, nonresidential loans - $100-250k 65 $6,983 $107,431
    Nonfarm, nonresidential loans - $250k-1MM 32 $9,507 $297,094
    Commercial & Industrial, US addressed loans - <$1MM 1,785 $57,415 $32,165
    Commercial & Industrial, US addressed loans - <$100k 1,591 $31,648 $19,892
    Commercial & Industrial, US addressed loans - $100-250k 136 $14,111 $103,757
    Commercial & Industrial, US addressed loans - $250k-1MM 58 $11,656 $200,966
    Farmland loans - <$1MM 1,270 $209,613 $165,050
    Farmland loans - <$100k 297 $12,591 $42,394
    Farmland loans - $100-250k 495 $65,083 $131,481
    Farmland loans - $250k-1MM 478 $131,939 $276,023
    Agriculture operations loans - <$1MM 3,557 $202,877 $57,036
    Agriculture operations loans - <$100k 2,553 $60,982 $23,886
    Agriculture operations loans - $100-250k 656 $66,536 $101,427
    Agriculture operations loans - $250k-1MM 348 $75,359 $216,549