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, Des Moines, Naples, Iowa City, and Dubuque among others. We have data for 15 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. 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

    197

    Origination Dollar Volume (All Markets)

    $40,625,000

    Awards

    Ohnward Bank & Trust 30 Year Conventional Loans gold
    Show all (1) 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) 141 $27,865,000 $197,624 $2,057 7.06%
    Outside of Metro Areas 16 $3,200,000 $200,000 $2,372 7.27%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 8 $2,070,000 $258,750 $2,280 7.28%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 8.25%
    IOWA CITY, IA (FHA|USDA|VA) 7 $1,585,000 $226,429 $2,091 6.96%
    DUBUQUE, IA (FHA|USDA|VA) 8 $1,210,000 $151,250 $2,044 6.66%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 5 $1,045,000 $209,000 $3,072 7.13%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $335,000 $335,000 $0 7.75%
    AMES, IA (FHA|USDA|VA) 2 $320,000 $160,000 $2,277 7.75%
    MADISON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $2,195 6.00%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $265,000 $265,000 $2,376 5.50%
    NILES, MI (FHA|USDA|VA) 1 $165,000 $165,000 $3,445 5.75%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $150,000 $75,000 $897 7.44%
    Burlington, IA-IL (FHA|USDA|VA) 2 $100,000 $50,000 $1,815 7.63%
    Clinton, IA (FHA|USDA|VA) 1 $25,000 $25,000 $1,994 5.75%
    Ohnward Bank & Trust's top markets include Cedar Rapids, Des Moines, Naples, Iowa City, and Dubuque among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Wisconsin (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: 110
    FIRST
    Similarity Rank: 112
    LINN AREA
    Similarity Rank: 128
    Bankers Trust Company
    Similarity Rank: 162
    BankIowa of Cedar Rapids
    Similarity Rank: 170
    Fidelity Bank & Trust
    Similarity Rank: 286
    Hills Bank and Trust Company
    Similarity Rank: 300
    Ohnward Bank & Trust
    Similarity Rank: 420
    Collins Community Credit Union
    Similarity Rank: 450
    CBI Bank & Trust
    Similarity Rank: 486

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 197 $40,625,000 $206,218 $2,113 7.07%

    For 2023, Ohnward Bank & Trust's most frequently originated type of loan was Conventional, with 197 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $33,750,000 $228,041 $2,326 6.89%
    Refi 30 $5,220,000 $174,000 $1,787 7.46%
    Other 11 $885,000 $80,455 $740 8.05%
    Home Improvement 5 $225,000 $45,000 $0 8.45%
    Cash Out Refi 3 $545,000 $181,667 $1,993 6.04%

    For 2023, Ohnward Bank & Trust's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 125 $27,145,000 $217,160 $2,553 6.58%
    Other 31 $5,485,000 $176,935 $284 8.04%
    5 Year 21 $5,005,000 $238,333 $0 8.15%
    15 Year 14 $2,210,000 $157,857 $1,528 7.00%
    3 Year 4 $530,000 $132,500 $0 8.58%
    1 Year 1 $235,000 $235,000 $0 8.95%
    10 Year 1 $15,000 $15,000 $0 8.25%

    For 2023, Ohnward Bank & Trust's most frequently cited loan duration was 30 Year, with 125 originations. The 2nd most popular length was Other, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 122 $21,970,000 $180,082
    $1k-2k 18 $3,540,000 $196,667
    $2k-3k 10 $2,430,000 $243,000
    $3k-4k 4 $1,320,000 $330,000
    $5k+ 2 $1,280,000 $640,000
    $4k-5k 1 $365,000 $365,000

    Ohnward Bank & Trust's average total fees were $2,553, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 72 $16,870,000 $234,306
    Over 8% 45 $6,925,000 $153,889
    7-8% 41 $9,645,000 $235,244
    5-6% 39 $7,185,000 $184,231

    During 2023, Ohnward Bank & Trust's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 69 $9,995,000 $144,855 $2,037 6.97%
    $200k-400k 58 $16,800,000 $289,655 $2,559 6.77%
    $100,000 or less 54 $3,230,000 $59,815 $1,273 7.54%
    $400k-600k 11 $5,135,000 $466,818 $2,990 6.68%
    $600k-1MM 3 $2,145,000 $715,000 $5,775 7.33%
    $1MM+ 2 $3,320,000 $1,660,000 $0 8.06%

    2023 saw Ohnward Bank & Trust place emphasis on $100k-200k loans with 69 originations, totaling $9,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $8,490,000 $202,143 $1,986 7.09%
    $50k-75k 34 $4,920,000 $144,706 $2,234 6.69%
    $150k-250k 27 $6,725,000 $249,074 $2,189 7.16%
    $75k-100k 23 $3,265,000 $141,957 $1,734 6.97%
    $250k+ 22 $8,940,000 $406,364 $2,451 7.07%
    $50k or less 22 $1,940,000 $88,182 $2,133 6.60%

    Ohnward Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k-75k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $8,230,000 $195,952 $2,124 6.98%
    30-36% 33 $6,135,000 $185,909 $1,929 6.78%
    <20% 28 $4,190,000 $149,643 $1,618 6.95%
    41% 8 $2,200,000 $275,000 $3,251 7.06%
    37% 8 $2,100,000 $262,500 $2,069 6.92%
    36% 7 $1,135,000 $162,143 $1,723 7.09%
    40% 7 $875,000 $125,000 $1,765 6.79%
    39% 5 $1,305,000 $261,000 $3,213 6.43%
    49% 5 $995,000 $199,000 $2,206 6.43%
    50-60% 4 $270,000 $67,500 $1,648 7.59%
    42% 4 $910,000 $227,500 $2,349 6.53%
    44% 3 $715,000 $238,333 $3,166 7.29%
    46% 2 $650,000 $325,000 $2,542 7.13%
    47% 2 $620,000 $310,000 $3,665 7.50%
    38% 2 $330,000 $165,000 $2,011 6.19%
    48% 2 $450,000 $225,000 $2,162 5.81%
    43% 2 $610,000 $305,000 $3,270 6.13%
    45% 1 $285,000 $285,000 $2,100 5.88%

    Ohnward Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 159 $30,985,000 $194,874 $2,112 6.98%
    Not applicable 20 $5,410,000 $270,500 $0 7.81%
    Asian 7 $2,625,000 $375,000 $2,553 7.05%
    Not provided 9 $1,285,000 $142,778 $2,072 6.88%
    Black 2 $320,000 $160,000 $1,029 7.75%

    Approval Rates

    Total approvals of all applications
    97.39%

    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
    86.29%

    Ohnward Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 197 $40,625,000 $206,218

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    197 $40,625,000 $206,218

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $4,960,000 $206,667 $853 7.86%
    40-60% 29 $6,385,000 $220,172 $2,131 6.84%
    60-80% 58 $12,430,000 $214,310 $2,655 6.66%
    80-100% 62 $14,800,000 $238,710 $2,452 6.81%
    Over 100% 2 $540,000 $270,000 $0 8.60%
    Under 20% 21 $1,445,000 $68,810 $367 8.12%