Iowa State Bank Mortgage Rates, Fees & Info

Des Moines, IA

LEI: 254900F6O4NCRVOV3J04

Tax ID: 42-0335294

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Mortgage Data

Review & Overview

Iowa State Bank is a smaller bank specializing in Home Purchase and Refi loans. Iowa State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Fort Dodge, and Ames among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

Iowa State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

41

Origination Dollar Volume (All Markets)

$11,275,000

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
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 39 $11,065,000 $283,718 $0 0.00%
Fort Dodge, IA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
AMES, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
Iowa State Bank's top markets include Des Moines, Fort Dodge, and Ames among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $11,275,000 $275,000 $0 0.00%

    For 2023, Iowa State Bank's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 17 $4,315,000 $253,824 $0 0.00%
    Refi 12 $6,520,000 $543,333 $0 0.00%
    Home Improvement 6 $160,000 $26,667 $0 0.00%
    Other 6 $280,000 $46,667 $0 0.00%

    For 2023, Iowa State Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 41 $11,275,000 $275,000 $0 0.00%

    For 2023, Iowa State Bank's most frequently cited loan duration was Other, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $755,000 $44,412 $0 0.00%
    $200k-400k 10 $3,110,000 $311,000 $0 0.00%
    $100k-200k 9 $1,295,000 $143,889 $0 0.00%
    $1MM+ 2 $4,480,000 $2,240,000 $0 0.00%
    $400k-600k 2 $900,000 $450,000 $0 0.00%
    $600k-1MM 1 $735,000 $735,000 $0 0.00%

    2023 saw Iowa State Bank place emphasis on $100,000 or less loans with 17 originations, totaling $755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $390,000 $48,750 $0 0.00%
    $100k-150k 5 $825,000 $165,000 $0 0.00%
    $250k+ 5 $1,775,000 $355,000 $0 0.00%
    $150k-250k 1 $415,000 $415,000 $0 0.00%
    $75k-100k 1 $35,000 $35,000 $0 0.00%

    Iowa State Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 41 $11,275,000 $275,000 $0 0.00%

    Iowa State Bank lent most frequently to those with DTI ratios of Exempt%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $7,835,000 $373,095 $0 0.00%
    White 16 $2,030,000 $126,875 $0 0.00%
    Not provided 2 $1,220,000 $610,000 $0 0.00%
    Korean 1 $155,000 $155,000 $0 0.00%
    Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.56%

    Iowa State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    95.12%

    Iowa State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 41 $11,275,000 $275,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    41 $11,275,000 $275,000