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

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • 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

    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 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.

    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 6.37% 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.


    Originations

    514

    Origination Dollar Volume (All Markets)

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

    Relative Rate

    Ohnward Bank & Trust's average 30 year fixed mortgage rate was 2.91%.

    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.

    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
    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.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

    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.

    BankIowa of Cedar Rapids
    Similarity Rank: 75
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    FIRST
    Similarity Rank: 308
    Hills Bank and Trust Company
    Similarity Rank: 418
    Fidelity Bank & Trust
    Similarity Rank: 585
    Community Savings Bank
    Similarity Rank: 589
    Bankers Trust Company
    Similarity Rank: 629
    LINN AREA
    Similarity Rank: 680
    DuTrac Community Credit Union
    Similarity Rank: 768
    Collins Community Credit Union
    Similarity Rank: 840

    Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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.

    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 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
    $<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 4 $1,470,000 $367,500
    $4k-5k 1 $405,000 $405,000
    $5k+ 1 $725,000 $725,000

    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.

    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 for loans was 2.91%, while their most frequently originated rate bucket for loans was 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
    98.55%

    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
    93.97%

    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%