United Bank Of Iowa Mortgage Rates, Fees & Info

Ida Grove, IA

LEI: 2549002OCMCJIOOONI88

Tax ID: 42-0326042

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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. They have a low ratio of USDA loans. Their top markets by origination volume include: Carroll, Storm Lake, Spirit Lake, Sioux City, and Des Moines among others. We have data for 16 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% 9/1/24
30 Year Conventional Refi 6.67% 9/1/24
30 Year Cash-out Refi 6.82% 9/1/24
30 Year USDA Purchase 7.16% 9/1/24
30 Year USDA Refi 6.89% 9/1/24
15 Year Conventional Purchase 6.29% 9/1/24
15 Year Conventional Refi 6.31% 9/1/24
15 Year Cash-out Refi 6.31% 9/1/24
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

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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

584

Origination Dollar Volume (All Markets)

$72,790,000

Employee count

292

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

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 345 $36,195,000 $104,913 $2,598 3.51%
Carroll, IA (FHA|USDA|VA) 56 $8,130,000 $145,179 $3,034 3.30%
Storm Lake, IA (FHA|USDA|VA) 57 $7,085,000 $124,298 $3,178 3.62%
Spirit Lake, IA (FHA|USDA|VA) 6 $4,550,000 $758,333 $4,566 2.81%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 35 $4,525,000 $129,286 $3,091 3.45%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 19 $3,925,000 $206,579 $4,429 3.45%
AMES, IA (FHA|USDA|VA) 19 $2,785,000 $146,579 $2,473 3.43%
Fort Dodge, IA (FHA|USDA|VA) 23 $2,565,000 $111,522 $2,070 3.46%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 14 $1,220,000 $87,143 $2,835 3.50%
Spencer, IA (FHA|USDA|VA) 2 $520,000 $260,000 $3,127 4.00%
Mason City, IA (FHA|USDA|VA) 2 $440,000 $220,000 $2,592 3.50%
Yankton, SD (FHA|USDA|VA) 2 $320,000 $160,000 $3,184 3.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $2,766 3.25%
IOWA CITY, IA (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $45,000 $45,000 $1,675 3.25%
Norfolk, NE (FHA|USDA|VA) 1 $35,000 $35,000 $2,532 3.13%
United Bank Of Iowa's top markets include Carroll, Storm Lake, Spirit Lake, Sioux City, and Des Moines among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 549 $69,185,000 $126,020 $2,652 3.48%
    USDA 35 $3,605,000 $103,000 $3,751 3.57%

    For 2021, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 549 originations. Their 2nd most popular type was USDA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 315 $40,715,000 $129,254 $2,690 3.57%
    Refi 164 $19,110,000 $116,524 $2,547 3.37%
    Cash Out Refi 81 $10,265,000 $126,728 $3,238 3.42%
    Home Improvement 12 $1,170,000 $97,500 $2,360 3.50%
    Other 12 $1,530,000 $127,500 $2,418 3.32%

    For 2021, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 315 originations. The 2nd most popular reason was Refi, with 164 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 269 $38,465,000 $142,993 $2,968 3.53%
    15 Year 143 $13,905,000 $97,238 $2,441 3.16%
    20 Year 97 $12,115,000 $124,897 $2,748 3.49%
    Other 41 $5,335,000 $130,122 $917 4.04%
    10 Year 23 $2,425,000 $105,435 $1,840 3.81%
    5 Year 10 $530,000 $53,000 $2,278 3.58%
    1 Year 1 $15,000 $15,000 $0 3.50%

    For 2021, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 269 originations. The 2nd most popular length was 15 Year, with 143 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 214 $25,800,000 $120,561
    $<1k 161 $10,675,000 $66,304
    $2k-3k 45 $9,565,000 $212,556
    $3k-4k 14 $4,000,000 $285,714
    $5k+ 4 $2,580,000 $645,000
    $4k-5k 3 $995,000 $331,667

    United Bank Of Iowa's average total fees were $2,968, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 438 $50,550,000 $115,411
    2.5-3% 94 $15,300,000 $162,766
    4-5% 44 $5,130,000 $116,591
    <2.5% 4 $1,720,000 $430,000
    5-6% 4 $90,000 $22,500

    During 2021, United Bank Of Iowa's average interest rate for loans was 3.53%, while their most frequently originated rate bucket for loans was 3-4%, with 438 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 306 $18,790,000 $61,405 $2,278 3.53%
    $100k-200k 194 $27,110,000 $139,742 $2,951 3.43%
    $200k-400k 71 $18,665,000 $262,887 $3,785 3.50%
    $400k-600k 10 $4,870,000 $487,000 $5,354 3.20%
    $1MM+ 2 $2,510,000 $1,255,000 $7,462 2.88%
    $600k-1MM 1 $845,000 $845,000 $0 2.50%

    2021 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 306 originations, totaling $18,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 160 $12,510,000 $78,188 $2,450 3.51%
    $50k-75k 117 $12,125,000 $103,632 $2,670 3.46%
    $100k-150k 90 $12,970,000 $144,111 $2,955 3.46%
    $75k-100k 87 $10,215,000 $117,414 $2,717 3.54%
    $150k-250k 32 $6,000,000 $187,500 $3,596 3.17%
    $250k+ 15 $4,865,000 $324,333 $5,431 3.42%

    United Bank Of Iowa lent most frequently to those with incomes in the $50k or less range, with 160 originations. The second most popular income band? $50k-75k, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 135 $15,695,000 $116,259 $2,794 3.36%
    30-36% 108 $12,990,000 $120,278 $2,774 3.50%
    <20% 97 $10,655,000 $109,845 $2,604 3.35%
    38% 17 $1,585,000 $93,235 $2,415 3.34%
    39% 17 $2,095,000 $123,235 $2,880 3.32%
    37% 15 $2,405,000 $160,333 $3,179 3.43%
    40% 13 $1,805,000 $138,846 $2,763 3.73%
    42% 11 $1,165,000 $105,909 $2,175 3.75%
    36% 11 $1,535,000 $139,545 $2,868 3.59%
    41% 10 $1,420,000 $142,000 $2,858 3.54%
    44% 5 $595,000 $119,000 $2,746 3.23%
    >60% 3 $1,535,000 $511,667 $4,184 4.00%
    50-60% 2 $350,000 $175,000 $2,971 3.88%
    45% 2 $170,000 $85,000 $2,360 3.06%
    49% 2 $170,000 $85,000 $1,943 3.31%
    48% 1 $75,000 $75,000 $1,696 2.75%
    43% 1 $305,000 $305,000 $3,694 3.88%

    United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 508 $59,180,000 $116,496 $2,716 3.47%
    Not applicable 62 $11,570,000 $186,613 $0 3.59%
    Asian 11 $1,635,000 $148,636 $3,783 3.66%
    Not provided 2 $250,000 $125,000 $2,694 3.44%
    Black 1 $155,000 $155,000 $4,703 3.50%

    Approval Rates

    Total approvals of all applications
    78.65%

    United Bank Of Iowa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.02%

    United Bank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 584 $72,790,000 $124,640

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    584 $72,790,000 $124,640

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $6,960,000 $105,455 $1,989 3.57%
    40-60% 82 $11,790,000 $143,780 $2,601 3.38%
    60-80% 209 $27,915,000 $133,565 $2,839 3.46%
    80-100% 191 $23,165,000 $121,283 $2,846 3.48%
    Under 20% 36 $2,960,000 $82,222 $1,292 3.73%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 20.0%
    UNITED COMMUNITY BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 20.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    United Bank of Iowa 102 Main Street Galva, IA 51020 Full Service B&M $31,658
    United Bank of Iowa 109 West 3rd Avenue Arthur, IA 51431 Full Service B&M $25,299
    United Bank of Iowa 116 North Kiel Street Holstein, IA 51025 Full Service B&M $83,466
    United Bank of Iowa 12 Main Street Charter Oak, IA 51439 Full Service B&M $40,645
    United Bank of Iowa 120 South First Street Moville, IA 51039 Full Service B&M $31,932
    United Bank of Iowa 124 Oak Street Moorhead, IA 51558 Full Service B&M $23,418
    United Bank of Iowa 1270 Lake Avenue Storm Lake, IA 50588 Full Service B&M $78,345
    United Bank of Iowa 1334 Broadway Street Denison, IA 51442 Full Service B&M $84,322
    United Bank of Iowa 148 Main Street Aurelia, IA 51005 Full Service B&M $41,443
    United Bank of Iowa 15 East Main Street Anthon, IA 51004 Full Service B&M $13,460
    United Bank of Iowa 1608 First Avenue South Fort Dodge, IA 50501 Full Service B&M $59,883
    United Bank of Iowa 101 East First Street Kingsley, IA 51028 Full Service B&M $45,599
    United Bank of Iowa 101 North Lewis Avenue Cleghorn, IA 51014 Full Service B&M $14,248
    United Bank of Iowa 10 N. Grove Street Kiron, IA 51448 Limited, Drive-thru $4,722
    United Bank of Iowa 100 W Pine Street Marcus, IA 51035 Full Service B&M $8,568
    United Bank of Iowa 1609 Hawkeye Drive Boone, IA 50036 Full Service B&M $26,934
    United Bank of Iowa 1802 23rd Street Harlan, IA 51537 Full Service B&M $56,028
    United Bank of Iowa 200 Main Street Lytton, IA 50561 Full Service B&M $10,630
    United Bank of Iowa 200-202 Main Street Cushing, IA 51018 Full Service B&M $8,066
    United Bank of Iowa 201 North Center Street Lake City, IA 51449 Full Service B&M $65,175
    United Bank of Iowa 202 Main Street Alta, IA 51002 Full Service B&M $21,797
    United Bank of Iowa 210 Front Avenue Pocahontas, IA 50574 Full Service B&M $34,395
    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 $51,127
    United Bank of Iowa 301 S. Main Street Odebolt, IA 51458 Full Service B&M $41,758
    United Bank of Iowa 316 Garfield Rolfe, IA 50581 Full Service B&M $28,141
    United Bank of Iowa 320 Front Street Pierson, IA 51048 Full Service B&M $22,513
    United Bank of Iowa 33 2nd Street Schleswig, IA 51461 Full Service B&M $42,967
    United Bank of Iowa 400 Morningside Drive Sac City, IA 50583 Full Service B&M $40,072
    United Bank of Iowa 408 Hwy 30 Dunlap, IA 51529 Full Service B&M $40,837
    United Bank of Iowa 417 - 4th Street Rockwell City, IA 50579 Full Service B&M $76,962
    United Bank of Iowa 425 East 9th Street Glidden, IA 51443 Full Service B&M $61,051
    United Bank of Iowa 501 2nd Street Ida Grove, IA 51445 Full Service B&M $281,121
    United Bank of Iowa 600 2nd Street Lohrville, IA 51453 Full Service B&M $15,287
    United Bank of Iowa 600 Head Street Churdan, IA 50050 Full Service B&M $32,751
    United Bank of Iowa 609 North Clark Street Carroll, IA 51401 Full Service B&M $90,626

    For 2021, United Bank Of Iowa had 36 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $68,426
    Net interest income $61,139
    Total noninterest income $10,204
    Gross Fiduciary activities income $195
    Service charges on deposit accounts $3,760
    Trading account gains and fees $0
    Additional Noninterest Income $6,249
    Pre-tax net operating income $34,038
    Securities gains (or losses, -) $702
    Income before extraordinary items $33,054
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $33,054
    Minority interest net income $0
    Net income $33,054
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $32,387

    United Bank Of Iowa's gross interest income from loans was $68,426,000.
    United Bank Of Iowa's net interest income from loans was $61,139,000.
    United Bank Of Iowa's fee based income from loans was $3,760,000.
    United Bank Of Iowa's net income from loans was $33,054,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,287
    Provision for credit losses $700
    Total noninterest expense $36,605
    Salaries and employee benefits $24,869
    Premises and equipment expense $3,920
    Additional noninterest expense $7,816
    Applicable income taxes $1,686
    Net charge-offs $-58
    Cash dividends $17,418

    United Bank Of Iowa's interest expense for loans was $7,287,000.
    United Bank Of Iowa's payroll and benefits expense were $24,869,000.
    United Bank Of Iowa's property, plant and equipment expenses $3,920,000.

    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 0.0%
    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 $1,692,628
    Deposits held in domestic offices $1,692,628
    Deposits by Individuals, partnerships, and corporations $1,449,358
    Deposits by U.S. Government $80
    Deposits by States and political subdivisions in the U.S. $210,870
    Deposits by Commercial banks and other depository institutions in U.S. $32,320
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $123,643
    Demand deposits $75,515
    Nontransaction accounts $1,568,985
    Money market deposit accounts (MMDAs) $199,406
    Other savings deposits (excluding MMDAs) $778,632
    Total time deposits $590,948
    Total time and savings deposits $1,617,113
    Noninterest-bearing deposits $353,100
    Interest-bearing deposits $1,339,528
    Retail deposits $1,506,401
    IRAs and Keogh plan accounts $62,087
    Brokered deposits $18,732
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,102,938
    Cash & Balances due from depository institutions $37,055
    Interest-bearing balances $17,657
    Total securities $562,968
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,394,224
    Loan and leases loss allowance $20,287
    Trading account assets $0
    Bank premises and fixed assets $31,256
    Other real estate owned $0
    Goodwill and other intangibles $16,807
    All other assets $60,628

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,102,938
    Total Liabilities $1,887,683
    Total deposits $1,692,628
    Interest-bearing deposits $1,339,528
    Deposits held in domestic offices $1,692,628
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $20,609
    Trading liabilities $0
    Other borrowed funds $166,514
    Subordinated debt $0
    All other liabilities $7,932

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,394,224
    Loan and leases loss allowance $20,287
    Total loans and leases (domestic) $1,414,511
    All real estate loans $887,382
    Real estate loans in domestic offices $887,382
    Construction and development loans $24,331
    Residential 1-4 family construction $9,514
    Other construction, all land development and other land $14,817
    Loans secured by nonfarm nonresidential properties $37,936
    Nonfarm nonresidential secured by owner-occupied properties $20,648
    Commercial real estate & other non-farm, non-residential $17,288
    Multifamily residential real estate $7,597
    1-4 family residential loans $150,102
    Farmland loans $667,416
    Loans held in foreign offices $0
    Farm loans $391,628
    Commercial and industrial loans $66,521
    To non-U.S. addressees $0
    Loans to individuals $59,002
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $43,845
    Other loans to individuals $15,157
    All other loans & leases $9,978
    Loans to foreign governments and official institutions $0
    Other loans $3,164
    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 $452
    Non 1-4 family restructured loans & leases $436
    Total loans and leases (foreign) $0

    United Bank of Iowa had $1,394,224,000 of loans outstanding in 2021. $887,382,000 of loans were in real estate loans. $24,331,000 of loans were in development loans. $7,597,000 of loans were in multifamily mortgage loans. $150,102,000 of loans were in 1-4 family mortgage loans. $391,628,000 of loans were in farm loans. $0 of loans were in credit card loans. $43,845,000 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 261 $26,805 $102,701
    Nonfarm, nonresidential loans - <$100k 149 $5,753 $38,611
    Nonfarm, nonresidential loans - $100-250k 74 $9,056 $122,378
    Nonfarm, nonresidential loans - $250k-1MM 38 $11,996 $315,684
    Commercial & Industrial, US addressed loans - <$1MM 1,294 $56,233 $43,457
    Commercial & Industrial, US addressed loans - <$100k 1,083 $24,569 $22,686
    Commercial & Industrial, US addressed loans - $100-250k 146 $15,279 $104,651
    Commercial & Industrial, US addressed loans - $250k-1MM 65 $16,385 $252,077
    Farmland loans - <$1MM 1,277 $214,108 $167,665
    Farmland loans - <$100k 273 $11,764 $43,092
    Farmland loans - $100-250k 506 $66,496 $131,415
    Farmland loans - $250k-1MM 498 $135,848 $272,787
    Agriculture operations loans - <$1MM 3,536 $200,727 $56,767
    Agriculture operations loans - <$100k 2,529 $62,106 $24,558
    Agriculture operations loans - $100-250k 653 $65,262 $99,942
    Agriculture operations loans - $250k-1MM 354 $73,359 $207,229