Ohnward Bank & Trust Mortgage Rates, Fees & Info

CASCADE, IA

LEI: 549300XMCDBXHD84QD46

Tax ID: 42-0126270

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • 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 loans. Ohnward Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Iowa City, Tampa, Fort Collins, and Dubuque among others. We have data for 17 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.


    Originations

    288

    Origination Dollar Volume (All Markets)

    $53,540,000

    Awards

    Ohnward Bank & Trust 30 Year Conventional Loans silver Ohnward Bank & Trust 30 Year Conventional Loans silver
    Show all (2) awards

    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) 218 $33,480,000 $153,578 $2,006 4.69%
    Outside of Metro Areas 23 $5,385,000 $234,130 $2,035 5.18%
    IOWA CITY, IA (FHA|USDA|VA) 12 $3,060,000 $255,000 $2,897 3.80%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $2,365,000 $2,365,000 $0 5.50%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $1,995,000 $1,995,000 $0 6.95%
    DUBUQUE, IA (FHA|USDA|VA) 11 $1,695,000 $154,091 $1,551 5.85%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,280,000 $320,000 $4,715 5.16%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,035,000 $345,000 $5,330 4.50%
    Starkville, MS (FHA|USDA|VA) 1 $645,000 $645,000 $5,383 4.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $605,000 $605,000 $5,324 5.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $390,000 $195,000 $2,125 5.06%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $375,000 $375,000 $6,445 3.50%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $315,000 $105,000 $0 4.58%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $300,000 $150,000 $2,067 5.38%
    Clinton, IA (FHA|USDA|VA) 2 $250,000 $125,000 $894 5.75%
    Mason City, IA (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.50%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,474 6.88%
    Ohnward Bank & Trust's top markets include Cedar Rapids, Iowa City, Tampa, Fort Collins, and Dubuque among others.

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

    DuTrac Community Credit Union
    Similarity Rank: 120
    BankIowa of Cedar Rapids
    Similarity Rank: 135
    FIRST
    Similarity Rank: 144
    Community Savings Bank
    Similarity Rank: 200
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    Hills Bank and Trust Company
    Similarity Rank: 247
    LINN AREA
    Similarity Rank: 256
    HOMESERVICES LENDING, LLC
    Similarity Rank: 490
    Ohnward Bank & Trust
    Similarity Rank: 544
    Fidelity Bank & Trust
    Similarity Rank: 555

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 288 $53,540,000 $185,903 $2,191 4.77%

    For 2022, Ohnward Bank & Trust's most frequently originated type of loan was Conventional, with 288 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 193 $40,505,000 $209,870 $2,423 4.87%
    Refi 68 $9,300,000 $136,765 $1,829 4.53%
    Cash Out Refi 11 $2,585,000 $235,000 $2,261 3.94%
    Other 10 $930,000 $93,000 $560 5.01%
    Home Improvement 6 $220,000 $36,667 $506 5.38%

    For 2022, Ohnward Bank & Trust's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 132 $30,140,000 $228,333 $2,902 4.67%
    5 Year 55 $11,125,000 $202,273 $163 5.09%
    Other 43 $4,475,000 $104,070 $514 5.19%
    15 Year 24 $3,500,000 $145,833 $1,179 4.45%
    3 Year 22 $2,450,000 $111,364 $0 4.10%
    20 Year 5 $825,000 $165,000 $2,234 4.78%
    10 Year 5 $765,000 $153,000 $1,375 3.73%
    1 Year 2 $260,000 $130,000 $0 7.50%

    For 2022, Ohnward Bank & Trust's most frequently cited loan duration was 30 Year, with 132 originations. The 2nd most popular length was 5 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 130 $21,740,000 $167,231
    $1k-2k 38 $6,890,000 $181,316
    $2k-3k 12 $3,160,000 $263,333
    $3k-4k 7 $2,115,000 $302,143
    $5k+ 6 $2,930,000 $488,333
    $4k-5k 3 $1,025,000 $341,667

    Ohnward Bank & Trust's average total fees were $2,902, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 87 $15,865,000 $182,356
    3-4% 84 $13,750,000 $163,690
    5-6% 54 $12,670,000 $234,630
    6-7% 37 $7,365,000 $199,054
    2.5-3% 15 $2,925,000 $195,000
    7-8% 10 $940,000 $94,000
    Over 8% 1 $25,000 $25,000

    During 2022, Ohnward Bank & Trust's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 116 $16,860,000 $145,345 $2,253 4.55%
    $100,000 or less 92 $5,180,000 $56,304 $684 5.11%
    $200k-400k 59 $17,085,000 $289,576 $2,861 4.58%
    $400k-600k 13 $6,215,000 $478,077 $4,766 5.11%
    $600k-1MM 6 $3,840,000 $640,000 $4,474 4.48%
    $1MM+ 2 $4,360,000 $2,180,000 $0 6.23%

    2022 saw Ohnward Bank & Trust place emphasis on $100k-200k loans with 116 originations, totaling $16,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $6,980,000 $134,231 $2,066 4.54%
    $100k-150k 51 $8,735,000 $171,275 $2,037 4.91%
    $150k-250k 39 $9,785,000 $250,897 $2,467 4.74%
    $75k-100k 32 $4,880,000 $152,500 $1,800 4.96%
    $50k or less 27 $2,585,000 $95,741 $1,664 4.78%
    $250k+ 21 $7,585,000 $361,190 $3,650 4.82%

    Ohnward Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $100k-150k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 59 $10,635,000 $180,254 $2,150 4.71%
    30-36% 37 $7,105,000 $192,027 $2,575 4.63%
    <20% 27 $5,065,000 $187,593 $1,801 4.69%
    38% 11 $1,825,000 $165,909 $2,422 5.47%
    41% 11 $1,385,000 $125,909 $1,644 4.63%
    42% 9 $2,575,000 $286,111 $2,016 4.74%
    36% 8 $1,270,000 $158,750 $1,882 4.81%
    40% 7 $965,000 $137,857 $1,082 4.11%
    39% 7 $865,000 $123,571 $1,846 4.32%
    37% 5 $1,505,000 $301,000 $3,496 4.87%
    48% 5 $1,025,000 $205,000 $1,522 6.25%
    43% 5 $1,055,000 $211,000 $2,267 4.00%
    44% 4 $1,390,000 $347,500 $3,564 4.90%
    50-60% 3 $965,000 $321,667 $1,967 4.79%
    46% 2 $140,000 $70,000 $2,037 5.13%
    45% 2 $390,000 $195,000 $2,114 3.63%
    47% 1 $225,000 $225,000 $7,422 5.50%
    49% 1 $495,000 $495,000 $7,035 4.99%

    Ohnward Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 212 $36,460,000 $171,981 $2,098 4.84%
    Not applicable 58 $11,400,000 $196,552 $0 4.65%
    Asian 7 $2,785,000 $397,857 $2,933 4.00%
    Not provided 8 $2,230,000 $278,750 $3,341 4.45%
    Black 2 $620,000 $310,000 $3,309 3.69%
    American Indian 1 $45,000 $45,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    97.75%

    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
    94.79%

    Ohnward Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $25,000 $25,000
    360.84 1 $5,000 $5,000
    NA 286 $53,510,000 $187,098

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    288 $53,540,000 $185,903

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $3,720,000 $103,333 $1,350 5.01%
    40-60% 39 $5,985,000 $153,462 $2,022 4.72%
    60-80% 102 $25,200,000 $247,059 $2,868 4.85%
    80-100% 78 $16,880,000 $216,410 $2,642 4.47%
    Under 20% 32 $1,350,000 $42,188 $237 4.98%