Iowa Bankers Mortgage Corporation Rates, Fees & Info
JOHNSTON, IALEI: 549300FSZH0FMQ1T8Y90
Tax ID: 42-1130287
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Mortgage Data
Review & Overview
Iowa Bankers Mortgage Corporation is a small bank specializing in Refi and Home Purchase loans. Iowa Bankers Mortgage Corporation has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Des Moines, Ames, Waterloo, Dubuque, and Cedar Rapids among others. We have data for 71 markets. (Some data included below & more in-depth data is available with an active subscription.)Iowa Bankers Mortgage Corporation has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Iowa Bankers Mortgage Corporation 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.34% | 4/21/24 |
| 30 Year Conventional Refi | 6.16% | 4/21/24 |
| 30 Year Cash-out Refi | 6.37% | 4/21/24 |
| 30 Year FHA Purchase | 7.20% | 4/21/24 |
| 30 Year FHA Refi | 6.75% | 4/21/24 |
| 30 Year VA Purchase | 6.19% | 4/21/24 |
| 30 Year VA Refi | 5.98% | 4/21/24 |
| 30 Year USDA Purchase | 6.61% | 4/21/24 |
| 15 Year Conventional Purchase | 5.86% | 4/21/24 |
| 15 Year Conventional Refi | 5.69% | 4/21/24 |
| 15 Year Cash-out Refi | 5.69% | 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. | ||
Iowa Bankers Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
9,572Origination Dollar Volume (All Markets)
$1,767,010,000Awards
IOWA BANKERS MORTGAGE CORPORATION - 2020
IOWA BANKERS MORTGAGE CORPORATION is a 2020 , due to their low .
For 2020, 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) | 2,830 | $596,510,000 | $210,781 | $2,296 | 3.03% |
| Outside of Metro Areas | 2,133 | $325,675,000 | $152,684 | $2,510 | 3.07% |
| AMES, IA (FHA|USDA|VA) | 683 | $131,075,000 | $191,911 | $1,971 | 3.04% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 624 | $110,440,000 | $176,987 | $1,750 | 2.89% |
| DUBUQUE, IA (FHA|USDA|VA) | 320 | $70,830,000 | $221,344 | $2,352 | 2.88% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 393 | $70,055,000 | $178,257 | $2,265 | 3.04% |
| Pella, IA (FHA|USDA|VA) | 324 | $61,710,000 | $190,463 | $1,614 | 2.98% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 245 | $49,495,000 | $202,020 | $3,188 | 3.09% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 242 | $44,420,000 | $183,554 | $2,606 | 3.04% |
| Burlington, IA-IL (FHA|USDA|VA) | 300 | $43,860,000 | $146,200 | $2,280 | 3.11% |
| IOWA CITY, IA (FHA|USDA|VA) | 104 | $24,020,000 | $230,962 | $2,598 | 3.03% |
| Spirit Lake, IA (FHA|USDA|VA) | 89 | $20,965,000 | $235,562 | $2,409 | 3.06% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 104 | $19,530,000 | $187,788 | $2,082 | 2.99% |
| Clinton, IA (FHA|USDA|VA) | 126 | $18,040,000 | $143,175 | $1,988 | 3.04% |
| Marshalltown, IA (FHA|USDA|VA) | 102 | $16,270,000 | $159,510 | $4,380 | 3.12% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 58 | $15,670,000 | $270,172 | $4,546 | 3.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 66 | $15,460,000 | $234,242 | $3,655 | 3.12% |
| Spencer, IA (FHA|USDA|VA) | 103 | $15,125,000 | $146,845 | $1,755 | 2.86% |
| Fort Dodge, IA (FHA|USDA|VA) | 88 | $12,770,000 | $145,114 | $2,013 | 3.06% |
| Carroll, IA (FHA|USDA|VA) | 83 | $12,095,000 | $145,723 | $2,679 | 3.08% |
| MANKATO, MN (FHA|USDA|VA) | 63 | $11,485,000 | $182,302 | $4,100 | 2.89% |
| Oskaloosa, IA (FHA|USDA|VA) | 65 | $9,755,000 | $150,077 | $1,740 | 2.94% |
| Mason City, IA (FHA|USDA|VA) | 64 | $8,540,000 | $133,438 | $2,706 | 3.09% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 63 | $7,945,000 | $126,111 | $2,249 | 3.21% |
| Fairmont, MN (FHA|USDA|VA) | 47 | $6,735,000 | $143,298 | $3,760 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 20 | $5,440,000 | $272,000 | $3,105 | 3.22% |
| Owatonna, MN (FHA|USDA|VA) | 27 | $4,605,000 | $170,556 | $4,528 | 3.17% |
| Platteville, WI (FHA|USDA|VA) | 21 | $3,825,000 | $182,143 | $2,215 | 2.74% |
| ROCHESTER, MN (FHA|USDA|VA) | 17 | $3,775,000 | $222,059 | $4,917 | 3.14% |
| Ottumwa, IA (FHA|USDA|VA) | 27 | $3,545,000 | $131,296 | $2,279 | 3.01% |
| Muscatine, IA (FHA|USDA|VA) | 21 | $3,055,000 | $145,476 | $2,489 | 3.18% |
| Fairfield, IA (FHA|USDA|VA) | 19 | $2,525,000 | $132,895 | $1,970 | 3.20% |
| MADISON, WI (FHA|USDA|VA) | 6 | $2,200,000 | $366,667 | $2,202 | 2.73% |
| Storm Lake, IA (FHA|USDA|VA) | 10 | $2,010,000 | $201,000 | $2,148 | 3.01% |
| Brainerd, MN (FHA|USDA|VA) | 6 | $1,780,000 | $296,667 | $4,794 | 2.98% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 8 | $1,660,000 | $207,500 | $2,397 | 2.95% |
| ST. CLOUD, MN (FHA|USDA|VA) | 9 | $1,465,000 | $162,778 | $3,802 | 2.97% |
| DULUTH, MN-WI (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $4,844 | 2.75% |
| New Ulm, MN (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $3,669 | 3.23% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $3,591 | 2.94% |
| Alexandria, MN (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,432 | 2.96% |
| LINCOLN, NE (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $2,719 | 3.00% |
| Austin, MN (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $3,840 | 3.35% |
| Vermillion, SD (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $2,059 | 3.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,639 | 3.25% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,932 | 3.13% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $1,789 | 3.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,852 | 3.63% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,421 | 3.25% |
| Sterling, IL (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $1,962 | 3.13% |
| Brookings, SD (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,490 | 3.19% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,666 | 2.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $989 | 2.25% |
| Norfolk, NE (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,270 | 3.44% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,763 | 2.75% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,417 | 2.63% |
| Albert Lea, MN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,054 | 2.94% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,004 | 2.88% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,965 | 3.63% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,213 | 2.63% |
| Maryville, MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,850 | 3.25% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,313 | 3.25% |
| Marshall, MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,180 | 2.75% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,215 | 3.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,226 | 2.88% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,917 | 3.38% |
| Hastings, NE (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,029 | 2.88% |
| Yankton, SD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,837 | 2.63% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,167 | 2.63% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,324 | 3.13% |
| Worthington, MN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,243 | 2.50% |
Similar Lenders
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Product Mix
For 2020, Iowa Bankers Mortgage Corporation's most frequently originated type of loan was Conventional, with 8,995 originations. Their 2nd most popular type was USDA, with 326 originations.
Loan Reason
For 2020, Iowa Bankers Mortgage Corporation's most frequently cited loan purpose was Refi, with 3,993 originations. The 2nd most popular reason was Home Purchase, with 3,531 originations.
Loan Duration/Length
For 2020, Iowa Bankers Mortgage Corporation's most frequently cited loan duration was 30 Year, with 5,964 originations. The 2nd most popular length was 15 Year, with 3,103 originations.
Origination Fees/Closing Costs
Iowa Bankers Mortgage Corporation's average total fees were $2,524, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,508 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 4,108 | $761,400,000 | $185,346 |
| 2.5-3% | 4,024 | $756,310,000 | $187,950 |
| <2.5% | 1,331 | $235,365,000 | $176,833 |
| 4-5% | 109 | $13,935,000 | $127,844 |
During 2020, Iowa Bankers Mortgage Corporation's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 4,108 originations.
Loan Sizing
2020 saw Iowa Bankers Mortgage Corporation place emphasis on $100k-200k loans with 4,447 originations, totaling $649,235,000 in origination value.
Applicant Income
Iowa Bankers Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 2,291 originations. The second most popular income band? $100k-150k, with 2,193 originations.
Applicant Debt to Income Ratio
Iowa Bankers Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 3,047 originations. The next most common DTI ratio? 30-36%, with 1,949 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.66%
Iowa Bankers Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination98.00%
Iowa Bankers Mortgage Corporation 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 |
|---|---|---|---|
| NA | 9,572 | $1,767,010,000 | $184,602 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 56 | $6,880,000 | $122,857 |
| Single Family (1-4 Units):Site-Built | 9,516 | $1,760,130,000 | $184,965 |