Ohnward Bank & Trust Mortgage Rates, Fees & InfoCASCADE, IA
Tax ID: 42-0126270
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewOhnward 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 by origination volume include: Cedar Rapids, Iowa City, Dubuque, Des Moines, and Phoenix among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)
Ohnward Bank & Trust has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Ohnward Bank & Trust 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.37%||3/19/23|
|30 Year Conventional Refi||6.16%||3/19/23|
|30 Year Cash-out Refi||6.32%||3/19/23|
|30 Year FHA Purchase||6.27%||3/19/23|
|15 Year Conventional Purchase||6.16%||3/19/23|
|15 Year Conventional Refi||5.79%||3/19/23|
|15 Year Cash-out Refi||5.79%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$102,400,000
Ohnward Bank & Trust's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
Ohnward Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,982.
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 $4,750.
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)||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%|
We use machine learning to identify the top lenders compared against Ohnward Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Ohnward Bank & Trust's most frequently originated type of loan was Conventional, with 514 originations.
For 2021, Ohnward Bank & Trust's most frequently cited loan purpose was Home Purchase, with 232 originations. The 2nd most popular reason was Refi, with 196 originations.
For 2021, Ohnward Bank & Trust's most frequently cited loan duration was 30 Year, with 308 originations. The 2nd most popular length was 15 Year, with 117 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Ohnward Bank & Trust's average total fees were $1,982, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 428 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Ohnward Bank & Trust's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 190 originations.
2021 saw Ohnward Bank & Trust place emphasis on $100k-200k loans with 192 originations, totaling $28,720,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Ohnward Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Ohnward Bank & Trust has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|