Linn Area Mortgage Rates, Fees & Info
Cedar Rapids, IALEI: 549300EAZZ1G4DMO8869
Tax ID: 42-0173285
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Mortgage Data
Review & Overview
Linn Area is a smaller mortgage company specializing in Home Purchase and Refi loans. Linn Area has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Iowa City, Des Moines, Waterloo, and Spirit Lake among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Linn Area 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 4/21/24 |
| 30 Year Conventional Refi | 6.58% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 7.77% | 4/21/24 |
| 15 Year Conventional Refi | 6.68% | 4/21/24 |
| 15 Year Cash-out Refi | 6.68% | 4/21/24 |
| 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. | ||
Linn Area Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
469Origination Dollar Volume (All Markets)
$49,915,000Top 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 |
|---|---|---|---|---|---|
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 417 | $43,245,000 | $103,705 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 17 | $3,475,000 | $204,412 | $0 | 0.00% |
| Outside of Metro Areas | 17 | $1,405,000 | $82,647 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 9 | $965,000 | $107,222 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Carroll, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against LINN AREA 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 | 469 | $49,915,000 | $106,429 | $0 | 0.00% |
For 2018, Linn Area's most frequently originated type of loan was Conventional, with 469 originations.
Loan Reason
For 2018, Linn Area's most frequently cited loan purpose was Home Purchase, with 326 originations. The 2nd most popular reason was Refi, with 113 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 469 | $49,915,000 | $106,429 | $0 | 0.00% |
For 2018, Linn Area's most frequently cited loan duration was Other, with 469 originations.
Loan Sizing
2018 saw Linn Area place emphasis on $100,000 or less loans with 254 originations, totaling $13,340,000 in origination value.
Applicant Income
Linn Area lent most frequently to those with incomes in the $50k or less range, with 134 originations. The second most popular income band? $50k-75k, with 132 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 469 | $49,915,000 | $106,429 | $0 | 0.00% |
Linn Area lent most frequently to those with DTI ratios of Exempt%, with 469 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.81%
Linn Area has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.85%
Linn Area has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 469 | $49,915,000 | $106,429 |