Ohnward Bank & Trust Mortgage Rates, Fees & Info

CASCADE, IA

LEI: 549300XMCDBXHD84QD46

Tax ID: 42-0126270

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Mortgage Data

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, Minneapolis, and Phoenix among others. We have data for 14 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 a below average pick rate when compared to similar lenders.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.82% 12/8/24
30 Year Conventional Refi 6.55% 12/8/24
30 Year Cash-out Refi 6.49% 12/8/24
15 Year Conventional Purchase 6.08% 12/8/24
15 Year Conventional Refi 6.19% 12/8/24
15 Year Cash-out Refi 6.19% 12/8/24
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.

Ohnward Bank & Trust Mortgage Calculator






Your Estimates

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

This is not an official calculator from Ohnward Bank & Trust. 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

116

Origination Dollar Volume (All Markets)

$20,460,000

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) 84 $13,810,000 $164,405 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 10 $2,500,000 $250,000 $0 0.00%
Outside of Metro Areas 5 $535,000 $107,000 $0 0.00%
DUBUQUE, IA (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $480,000 $240,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 4 $320,000 $80,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
Clinton, IA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Marshalltown, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Ohnward Bank & Trust's top markets include Cedar Rapids, Iowa City, Dubuque, Minneapolis, and Phoenix among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Dakota (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.

    FIRST
    Similarity Rank: 154
    BankIowa of Cedar Rapids
    Similarity Rank: 210
    CBI Bank & Trust
    Similarity Rank: 228
    Hills Bank and Trust Company
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    Associated Bank
    Similarity Rank: 278
    COMMUNITY 1ST CREDIT UNION
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    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 552
    RUHL MORTGAGE, LLC
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    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 630
    Collins Community Credit Union
    Similarity Rank: 731

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $20,460,000 $176,379 $0 0.00%

    For 2019, Ohnward Bank & Trust's most frequently originated type of loan was Conventional, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $8,445,000 $172,347 $0 0.00%
    Refi 48 $8,570,000 $178,542 $0 0.00%
    Cash Out Refi 13 $3,115,000 $239,615 $0 0.00%
    Other 4 $290,000 $72,500 $0 0.00%
    Home Improvement 2 $40,000 $20,000 $0 0.00%

    For 2019, Ohnward Bank & Trust's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 116 $20,460,000 $176,379 $0 0.00%

    For 2019, Ohnward Bank & Trust's most frequently cited loan duration was Other, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,090,000 $52,250 $0 0.00%
    $200k-400k 38 $10,110,000 $266,053 $0 0.00%
    $100k-200k 31 $4,655,000 $150,161 $0 0.00%
    $400k-600k 6 $2,800,000 $466,667 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2019 saw Ohnward Bank & Trust place emphasis on $100,000 or less loans with 40 originations, totaling $2,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $2,320,000 $116,000 $0 0.00%
    $75k-100k 18 $2,720,000 $151,111 $0 0.00%
    $100k-150k 17 $3,645,000 $214,412 $0 0.00%
    $150k-250k 15 $3,445,000 $229,667 $0 0.00%
    $50k or less 15 $1,375,000 $91,667 $0 0.00%
    $250k+ 13 $4,465,000 $343,462 $0 0.00%

    Ohnward Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 116 $20,460,000 $176,379 $0 0.00%

    Ohnward Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 96 $16,840,000 $175,417 $0 0.00%
    Not applicable 15 $2,275,000 $151,667 $0 0.00%
    Korean 1 $805,000 $805,000 $0 0.00%
    Asian 4 $540,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.56%

    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
    88.79%

    Ohnward Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 116 $20,460,000 $176,379

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $820,000 $136,667
    Single Family (1-4 Units):Site-Built 110 $19,640,000 $178,545