Ohnward Bank & Trust Mortgage Rates, Fees & Info
CASCADE, IALEI: 549300XMCDBXHD84QD46
Tax ID: 42-0126270
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
514Origination Dollar Volume (All Markets)
$102,400,000Awards
Ohnward Bank & Trust - 2021
Ohnward Bank & Trust is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications97.19%
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 origination92.81%
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% |
