Greater Iowa Credit Union Mortgage Rates, Fees & Info
Ames, IALEI: 549300BB8TE7SXIUJI50
Tax ID: 42-0664060
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Mortgage Data
Review & Overview
Greater Iowa Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Greater Iowa Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Marshalltown, and Fort Madison among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Greater Iowa Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greater Iowa Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.34% | 4/18/24 |
| 30 Year Conventional Purchase | 6.12% | 4/18/24 |
| 30 Year Conventional Refi | 6.29% | 4/18/24 |
| 30 Year Cash-out Refi | 5.97% | 4/18/24 |
| 30 Year FHA Purchase | 6.51% | 4/18/24 |
| 30 Year VA Purchase | 6.10% | 4/18/24 |
| 15 Year Conventional Purchase | 5.75% | 4/18/24 |
| 15 Year Conventional Refi | 6.18% | 4/18/24 |
| 15 Year Cash-out Refi | 6.18% | 4/18/24 |
| 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. | ||
Greater Iowa Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Greater Iowa Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
496Origination Dollar Volume (All Markets)
$46,590,000Awards
GREATER IOWA CREDIT UNION - 2018
GREATER IOWA CREDIT UNION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 231 | $23,335,000 | $101,017 | $916 | 4.36% |
| AMES, IA (FHA|USDA|VA) | 221 | $20,765,000 | $93,959 | $838 | 4.19% |
| Outside of Metro Areas | 33 | $1,725,000 | $52,273 | $707 | 4.20% |
| Pella, IA (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $1,214 | 4.33% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,963 | 4.63% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,868 | 3.88% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $135 | 6.99% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.74% |
| Fort Dodge, IA (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $178 | 3.99% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $635 | 6.00% |
| Carroll, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.74% |
Similar Lenders
We use machine learning to identify the top lenders compared against GREATER IOWA CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 493 | $46,285,000 | $93,884 | $856 | 4.27% |
| USDA | 3 | $305,000 | $101,667 | $2,693 | 4.92% |
For 2018, Greater Iowa Credit Union's most frequently originated type of loan was Conventional, with 493 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2018, Greater Iowa Credit Union's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Home Improvement, with 129 originations.
Loan Duration/Length
For 2018, Greater Iowa Credit Union's most frequently cited loan duration was 10 Year, with 164 originations. The 2nd most popular length was 30 Year, with 133 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 493 | $46,195,000 | $93,702 |
| $1k-2k | 1 | $65,000 | $65,000 |
| $2k-3k | 1 | $135,000 | $135,000 |
| $4k-5k | 1 | $195,000 | $195,000 |
Greater Iowa Credit Union's average total fees were $1,652, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 493 originations.
Interest Rates
During 2018, Greater Iowa Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 224 originations.
Loan Sizing
2018 saw Greater Iowa Credit Union place emphasis on $100,000 or less loans with 319 originations, totaling $13,605,000 in origination value.
Applicant Income
Greater Iowa Credit Union lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $50k-75k, with 114 originations.
Applicant Debt to Income Ratio
Greater Iowa Credit Union lent most frequently to those with DTI ratios of <20%, with 256 originations. The next most common DTI ratio? 20-30%, with 92 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.22%
Greater Iowa Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination87.70%
Greater Iowa Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 496 | $46,590,000 | $93,931 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $45,000 | $45,000 |
| Single Family (1-4 Units):Site-Built | 495 | $46,545,000 | $94,030 |