Ohnward Bank & Trust Mortgage Rates, Fees & Info

CASCADE, IA

LEI: 549300XMCDBXHD84QD46

Tax ID: 42-0126270

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ohnward Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Ohnward Bank & Trust has a high proportion of conventional loans. Their top markets include Cedar Rapids, Iowa City, Dubuque, Des Moines, and Phoenix among others. Ohnward Bank & Trust has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Ohnward Bank & Trust is typically a low fee lendor.


Originations

514

Origination Dollar Volume (All Markets)

$102,400,000
Show all (5) awards

Relative Rate

Ohnward Bank & Trust's average 30 year fixed rate mortgage of loans were 2.91%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.24%.

Relative Fees

Ohnward Bank & Trust's average total fees for a 30 year fixed rate mortgage are $1,982.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CEDAR RAPIDS, IA (FHA|USDA|VA) 370 $70,220,000 $189,784 $1,623 2.99%
IOWA CITY, IA (FHA|USDA|VA) 37 $10,615,000 $286,892 $1,761 2.77%
Outside of Metro Areas 36 $5,650,000 $156,944 $2,054 3.07%
DUBUQUE, IA (FHA|USDA|VA) 20 $3,490,000 $174,500 $1,794 2.95%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 17 $3,235,000 $190,294 $1,698 3.17%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,345,000 $269,000 $3,378 2.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $1,230,000 $307,500 $3,411 2.69%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $725,000 $725,000 $10,563 2.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $650,000 $325,000 $2,867 2.63%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 4 $610,000 $152,500 $1,424 2.94%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $505,000 $505,000 $2,946 2.50%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 3 $435,000 $145,000 $1,890 3.21%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,532 2.00%
Helena, MT (FHA|USDA|VA) 1 $405,000 $405,000 $6,970 2.49%
ROCHESTER, MN (FHA|USDA|VA) 1 $385,000 $385,000 $3,348 2.75%
Boone, NC (FHA|USDA|VA) 1 $355,000 $355,000 $3,607 2.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $2,275 2.50%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $2,581 2.38%
Mitchell, SD (FHA|USDA|VA) 1 $255,000 $255,000 $1,634 2.75%
AMES, IA (FHA|USDA|VA) 1 $245,000 $245,000 $1,072 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,737 2.50%
Red Wing, MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,905 3.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,724 2.63%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $125,000 $125,000 $1,065 4.50%
Clinton, IA (FHA|USDA|VA) 1 $95,000 $95,000 $1,739 2.75%

Ohnward Bank & Trust's top markets include Cedar Rapids, Iowa City, Dubuque, Des Moines, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 514 $102,400,000 $199,222 $1,769 2.97%

For the 2021 period, Ohnward Bank & Trust's most frequently originated loan type of loans were Conventional, with 514 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 232 $47,230,000 $203,578 $2,013 3.20%
Refi 196 $39,730,000 $202,704 $1,549 2.76%
Cash Out Refi 76 $14,530,000 $191,184 $1,779 2.70%
Home Improvement 5 $225,000 $45,000 $333 4.25%
Other 5 $685,000 $137,000 $771 3.50%

For the 2021, Ohnward Bank & Trust's most frequently cited loan purpose of loans were Home Purchase, with 232 originations. The 2nd most popular reason of loans were Refi, with 196 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 308 $67,920,000 $220,519 $1,982 2.91%
15 Year 117 $22,245,000 $190,128 $1,551 2.48%
Other 33 $4,765,000 $144,394 $989 4.17%
5 Year 33 $3,195,000 $96,818 $168 4.17%
20 Year 10 $2,540,000 $254,000 $1,453 2.62%
10 Year 9 $1,505,000 $167,222 $1,596 2.22%
3 Year 3 $105,000 $35,000 $0 5.25%
1 Year 1 $125,000 $125,000 $0 5.25%

For the 2021, Ohnward Bank & Trust's most frequently cited loan length of loans were 30 Year, with 308 originations. The 2nd most popular length of loans were 15 Year, with 117 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 428 $87,940,000 $205,467
$1k-2k 21 $4,335,000 $206,429
$2k-3k 10 $2,300,000 $230,000
$3k-4k 5 $1,875,000 $375,000
$5k+ 1 $725,000 $725,000

$1,982 of loans were Ohnward Bank & Trust's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 428 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 190 $40,660,000 $214,000
<2.5% 170 $40,010,000 $235,353
3-4% 108 $18,350,000 $169,907
4-5% 38 $2,610,000 $68,684
5-6% 7 $745,000 $106,429
6-7% 1 $25,000 $25,000

During 2021, Ohnward Bank & Trust's average interest rate of loans were 2.91%, while their most frequently originated rate bucket of loans were 2.5-3%, with 190 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 192 $28,720,000 $149,583 $1,832 2.88%
$200k-400k 175 $47,155,000 $269,457 $1,863 2.77%
$100,000 or less 107 $6,745,000 $63,037 $1,153 3.64%
$400k-600k 39 $19,055,000 $488,590 $2,086 2.54%
$600k-1MM 1 $725,000 $725,000 $10,563 2.38%

2021 saw Ohnward Bank & Trust place emphasis on $100k-200k loans with 192 originations, totaling $28,720,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 107 $23,015,000 $215,093 $1,766 2.89%
$50k-75k 96 $15,430,000 $160,729 $1,826 2.88%
$150k-250k 89 $21,455,000 $241,067 $1,715 2.93%
$75k-100k 81 $14,275,000 $176,235 $1,698 2.92%
$50k or less 69 $7,205,000 $104,420 $1,687 3.18%
$250k+ 45 $15,545,000 $345,444 $1,800 2.76%

Ohnward Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 107 originations. The second most popular income band? $50k-75k, with 96 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 154 $31,260,000 $202,987 $1,808 2.83%
30-36% 92 $18,090,000 $196,630 $1,715 2.86%
<20% 74 $17,790,000 $240,405 $1,750 2.68%
37% 22 $3,500,000 $159,091 $1,991 3.55%
39% 21 $3,955,000 $188,333 $2,056 3.02%
42% 15 $3,475,000 $231,667 $1,572 3.14%
38% 15 $2,545,000 $169,667 $1,625 3.03%
44% 13 $2,925,000 $225,000 $2,027 2.61%
41% 12 $2,830,000 $235,833 $1,773 2.72%
40% 11 $1,815,000 $165,000 $1,719 3.09%
45% 9 $1,525,000 $169,444 $1,635 2.88%
36% 9 $1,875,000 $208,333 $2,131 2.85%
46% 8 $2,150,000 $268,750 $2,123 2.75%
49% 7 $1,405,000 $200,714 $1,531 2.82%
47% 5 $855,000 $171,000 $1,619 2.82%
48% 5 $985,000 $197,000 $1,722 2.38%
>60% 4 $270,000 $67,500 $820 4.25%
43% 3 $1,125,000 $375,000 $1,883 3.08%

Ohnward Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 92 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 475 $94,065,000 $198,032 $1,761 2.94%
Asian 15 $3,745,000 $249,667 $2,073 2.77%
Not applicable 16 $2,250,000 $140,625 $0 4.28%
Black 7 $1,865,000 $266,429 $1,765 3.02%
American Indian 1 $475,000 $475,000 $1,732 1.88%

Approval Rates

Total approvals of all applications
97.19%

Ohnward Bank & Trust 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
92.81%

Ohnward Bank & Trust has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
75.0 1 $25,000 $25,000
NA 513 $102,375,000 $199,561

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
514 $102,400,000 $199,222

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 33 $5,755,000 $174,394 $1,661 3.16%
40-60% 91 $16,135,000 $177,308 $1,707 2.82%
60-80% 203 $46,815,000 $230,616 $1,726 2.77%
80-100% 157 $32,315,000 $205,828 $2,120 3.03%
Under 20% 30 $1,380,000 $46,000 $296 4.35%