Iowa State Bank Mortgage Rates, Fees & Info

Des Moines, IA

LEI: 254900F6O4NCRVOV3J04

Tax ID: 42-0335294

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Iowa State Bank is a smaller bank specializing in Refi and Home Purchase loans. Iowa State Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Ames .

    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.

    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.

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    Originations

    76

    Origination Dollar Volume (All Markets)

    $15,930,000

    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) 73 $14,695,000 $201,301 $0 0.00%
    Outside of Metro Areas 2 $750,000 $375,000 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    Iowa State Bank's top markets include Des Moines and Ames among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $15,930,000 $209,605 $0 0.00%

    For 2019, Iowa State Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 40 $8,780,000 $219,500 $0 0.00%
    Home Purchase 24 $6,700,000 $279,167 $0 0.00%
    Home Improvement 9 $365,000 $40,556 $0 0.00%
    Other 3 $85,000 $28,333 $0 0.00%

    For 2019, Iowa State Bank's most frequently cited loan purpose was Refi, with 40 originations. The 2nd most popular reason was Home Purchase, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $15,930,000 $209,605 $0 0.00%

    For 2019, Iowa State Bank's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,410,000 $60,250 $0 0.00%
    $100k-200k 15 $2,245,000 $149,667 $0 0.00%
    $200k-400k 12 $3,120,000 $260,000 $0 0.00%
    $1MM+ 4 $5,430,000 $1,357,500 $0 0.00%
    $400k-600k 3 $1,445,000 $481,667 $0 0.00%
    $600k-1MM 2 $1,280,000 $640,000 $0 0.00%

    2019 saw Iowa State Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $650,000 $81,250 $0 0.00%
    $250k+ 7 $2,825,000 $403,571 $0 0.00%
    $50k-75k 7 $435,000 $62,143 $0 0.00%
    $150k-250k 6 $1,200,000 $200,000 $0 0.00%
    $50k or less 6 $370,000 $61,667 $0 0.00%
    $75k-100k 5 $575,000 $115,000 $0 0.00%

    Iowa State Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $250k+, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $15,930,000 $209,605 $0 0.00%

    Iowa State Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $9,715,000 $277,571 $0 0.00%
    White 38 $5,390,000 $141,842 $0 0.00%
    Not provided 1 $645,000 $645,000 $0 0.00%
    Asian 2 $180,000 $90,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.81%

    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
    90.79%

    Iowa State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 76 $15,930,000 $209,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $5,195,000 $1,039,000
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 70 $10,710,000 $153,000

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    I.Q. DATA INTERNATIONAL, INC. Other type of mortgage Incorrect information on your report 1 100.0%