Luana Savings Bank Mortgage Rates, Fees & Info

Luana, IA

LEI: 549300IZ5GOBKOERL931

Tax ID: 42-0386770

5 stars - Updated: 7/13/25 - out of 5 stars, based on 26 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Luana Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Luana Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Waterloo, Cedar Rapids, and Pella among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Luana Savings Bank 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. Luana Savings Bank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.52% 7/13/25
    30 Year Conventional Refi 6.50% 7/13/25
    30 Year Cash-out Refi 6.62% 7/13/25
    15 Year Conventional Purchase 6.15% 7/13/25
    15 Year Conventional Refi 6.46% 7/13/25
    15 Year Cash-out Refi 6.46% 7/13/25
    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.

    Luana Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Luana Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    671

    Origination Dollar Volume (All Markets)

    $185,205,000
    Show all (5) awards

    Relative Rate

    Luana Savings Bank's average 30 year fixed mortgage rate was 6.52%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    Luana Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,202.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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) 443 $142,235,000 $321,072 $1,106 6.63%
    Outside of Metro Areas 134 $20,500,000 $152,985 $1,030 6.87%
    AMES, IA (FHA|USDA|VA) 32 $6,330,000 $197,813 $1,131 6.51%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 18 $6,180,000 $343,333 $1,581 6.94%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 7 $1,995,000 $285,000 $1,707 6.73%
    Pella, IA (FHA|USDA|VA) 6 $1,850,000 $308,333 $1,063 7.08%
    Mason City, IA (FHA|USDA|VA) 9 $1,145,000 $127,222 $825 6.60%
    Spirit Lake, IA (FHA|USDA|VA) 2 $1,060,000 $530,000 $1,753 7.38%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $820,000 $410,000 $1,273 5.81%
    IOWA CITY, IA (FHA|USDA|VA) 3 $575,000 $191,667 $1,547 6.08%
    Oskaloosa, IA (FHA|USDA|VA) 1 $455,000 $455,000 $1,490 7.13%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $360,000 $180,000 $2,118 6.20%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $335,000 $335,000 $1,021 6.63%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $315,000 $315,000 $2,536 6.13%
    Platteville, WI (FHA|USDA|VA) 1 $315,000 $315,000 $1,240 7.10%
    Carroll, IA (FHA|USDA|VA) 3 $275,000 $91,667 $1,164 6.38%
    Marshalltown, IA (FHA|USDA|VA) 3 $215,000 $71,667 $1,251 6.69%
    Fort Dodge, IA (FHA|USDA|VA) 2 $160,000 $80,000 $700 6.75%
    Austin, MN (FHA|USDA|VA) 1 $85,000 $85,000 $1,231 7.10%
    Luana Savings Bank's top markets include Des Moines, Ames, Waterloo, Cedar Rapids, and Pella among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Luana Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 42
    FINANCIAL PLUS Credit Union
    Similarity Rank: 72
    Farmers State Bank
    Similarity Rank: 276
    Bankers Trust Company
    Similarity Rank: 300
    GREATER IOWA CREDIT UNION
    Similarity Rank: 330
    Tradesmen Community Credit Union
    Similarity Rank: 360
    Collins Community Credit Union
    Similarity Rank: 442
    Luana Savings Bank
    Similarity Rank: 570
    Premier Credit Union
    Similarity Rank: 656
    Community Choice Credit Union
    Similarity Rank: 663

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 671 $185,205,000 $276,013 $1,105 6.68%

    For 2024, Luana Savings Bank's most frequently originated type of loan was Conventional, with 671 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 461 $141,845,000 $307,690 $1,213 6.66%
    Refi 159 $37,635,000 $236,698 $874 6.59%
    Home Improvement 25 $1,975,000 $79,000 $985 7.23%
    Cash Out Refi 15 $3,155,000 $210,333 $1,368 6.57%
    Other 11 $595,000 $54,091 $500 7.69%

    For 2024, Luana Savings Bank's most frequently cited loan purpose was Home Purchase, with 461 originations. The 2nd most popular reason was Refi, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 393 $94,055,000 $239,326 $1,202 6.52%
    Other 92 $17,850,000 $194,022 $933 6.83%
    15 Year 61 $10,715,000 $175,656 $992 6.61%
    5 Year 57 $51,775,000 $908,333 $635 7.07%
    10 Year 46 $5,290,000 $115,000 $783 7.43%
    20 Year 12 $3,840,000 $320,000 $951 6.23%
    3 Year 8 $1,020,000 $127,500 $1,160 6.86%
    1 Year 2 $660,000 $330,000 $2,103 7.93%

    For 2024, Luana Savings Bank's most frequently cited loan duration was 30 Year, with 393 originations. The 2nd most popular length was Other, with 92 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 551 $120,005,000 $217,795
    $1k-2k 23 $4,535,000 $197,174
    $2k-3k 4 $1,050,000 $262,500
    $5k+ 2 $910,000 $455,000
    $3k-4k 1 $415,000 $415,000
    $4k-5k 1 $365,000 $365,000

    Luana Savings Bank's average total fees were $1,202, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 551 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 396 $98,420,000 $248,535
    7-8% 152 $57,960,000 $381,316
    5-6% 96 $26,190,000 $272,813
    Over 8% 26 $2,230,000 $85,769
    3-4% 1 $405,000 $405,000

    During 2024, Luana Savings Bank's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 6-7%, with 396 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 240 $67,010,000 $279,208 $1,343 6.53%
    $100k-200k 181 $27,115,000 $149,807 $1,209 6.70%
    $100,000 or less 172 $9,330,000 $54,244 $392 6.97%
    $400k-600k 58 $27,870,000 $480,517 $1,639 6.42%
    $600k-1MM 13 $9,565,000 $735,769 $1,692 6.42%
    $1MM+ 7 $44,315,000 $6,330,714 $0 6.84%

    2024 saw Luana Savings Bank place emphasis on $200k-400k loans with 240 originations, totaling $67,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 171 $45,425,000 $265,643 $1,230 6.59%
    $100k-150k 156 $30,960,000 $198,462 $1,013 6.73%
    $250k+ 87 $29,915,000 $343,851 $1,312 6.65%
    $50k-75k 85 $9,185,000 $108,059 $922 6.61%
    $75k-100k 81 $13,135,000 $162,160 $1,058 6.60%
    $50k or less 25 $2,085,000 $83,400 $895 6.80%

    Luana Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 171 originations. The second most popular income band? $100k-150k, with 156 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 188 $44,030,000 $234,202 $1,223 6.57%
    30-36% 166 $36,120,000 $217,590 $1,090 6.71%
    <20% 77 $14,825,000 $192,532 $1,099 6.57%
    36% 27 $4,975,000 $184,259 $974 6.98%
    37% 24 $5,400,000 $225,000 $979 6.58%
    41% 23 $4,355,000 $189,348 $937 6.75%
    42% 19 $3,345,000 $176,053 $997 6.56%
    38% 19 $3,695,000 $194,474 $1,112 6.80%
    39% 17 $3,105,000 $182,647 $1,017 6.66%
    40% 16 $3,230,000 $201,875 $936 6.71%
    47% 6 $1,090,000 $181,667 $1,045 6.35%
    43% 6 $2,880,000 $480,000 $1,149 6.06%
    45% 5 $1,475,000 $295,000 $1,265 6.63%
    46% 3 $845,000 $281,667 $1,428 6.25%
    44% 3 $305,000 $101,667 $759 6.63%
    48% 3 $695,000 $231,667 $885 7.00%
    49% 2 $400,000 $200,000 $958 7.20%
    >60% 1 $15,000 $15,000 $130 7.90%

    Luana Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 188 originations. The next most common DTI ratio? 30-36%, with 166 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 540 $116,530,000 $215,796 $1,099 6.65%
    Not applicable 62 $54,120,000 $872,903 $0 6.97%
    Not provided 50 $10,830,000 $216,600 $1,133 6.66%
    Asian 11 $2,495,000 $226,818 $1,137 6.60%
    Asian Indian 2 $380,000 $190,000 $861 6.06%
    Chinese 1 $355,000 $355,000 $2,658 6.63%
    Black 2 $250,000 $125,000 $1,650 7.03%
    American Indian 2 $190,000 $95,000 $675 6.38%
    Vietnamese 1 $55,000 $55,000 $1,401 5.88%

    Approval Rates

    Total approvals of all applications
    96.60%

    Luana Savings 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
    85.54%

    Luana Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 671 $185,205,000 $276,013

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    671 $185,205,000 $276,013

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $14,720,000 $160,000 $722 6.86%
    40-60% 75 $17,785,000 $237,133 $1,297 6.45%
    60-80% 289 $118,295,000 $409,325 $1,382 6.58%
    80-100% 110 $26,660,000 $242,364 $1,385 6.66%
    Under 20% 105 $7,745,000 $73,762 $199 6.99%