Hills Bank And Trust Company Mortgage Rates, Fees & Info

Hills, IA

LEI: 549300ZWA6HRT4N1Z222

Tax ID: 42-0310580

5 stars - Updated: 11/11/24 - out of 5 stars, based on 55 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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

    Hills Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Hills Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Cedar Rapids, Waterloo, Mason City, and Fort Madison among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Hills Bank And Trust Company 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. Hills Bank And Trust Company 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/11/24
    30 Year Conventional Purchase 6.50% 11/11/24
    30 Year Conventional Refi 6.41% 11/11/24
    30 Year Cash-out Refi 6.49% 11/11/24
    15 Year Conventional Purchase 5.86% 11/11/24
    15 Year Conventional Refi 5.84% 11/11/24
    15 Year Cash-out Refi 5.84% 11/11/24
    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.

    Hills Bank And Trust Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Hills Bank And Trust Company. 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

    3,022

    Origination Dollar Volume (All Markets)

    $586,490,000
    Show all (6) awards

    Relative Rate

    Hills Bank And Trust Company's average 30 year fixed mortgage rate was 6.39%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.09%.

    Relative Fees (Closing Costs)

    Hills Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $1,639.

    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 $9,089.

    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
    IOWA CITY, IA (FHA|USDA|VA) 1,489 $295,395,000 $198,385 $1,471 6.94%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1,215 $227,335,000 $187,107 $1,471 6.86%
    Outside of Metro Areas 216 $35,900,000 $166,204 $1,702 6.97%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 55 $8,245,000 $149,909 $2,037 5.02%
    Mason City, IA (FHA|USDA|VA) 1 $5,335,000 $5,335,000 $0 6.20%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $3,685,000 $3,685,000 $0 6.45%
    Ottumwa, IA (FHA|USDA|VA) 3 $3,435,000 $1,145,000 $0 6.86%
    Muscatine, IA (FHA|USDA|VA) 20 $2,530,000 $126,500 $1,358 6.85%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 5 $965,000 $193,000 $1,793 6.55%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $825,000 $275,000 $1,890 6.13%
    AMES, IA (FHA|USDA|VA) 2 $610,000 $305,000 $2,173 6.06%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $495,000 $495,000 $0 7.34%
    Fairfield, IA (FHA|USDA|VA) 3 $415,000 $138,333 $1,845 6.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $395,000 $395,000 $6,344 5.63%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $5,003 6.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $175,000 $175,000 $2,063 6.13%
    Kirksville, MO (FHA|USDA|VA) 2 $100,000 $50,000 $0 8.58%
    Clinton, IA (FHA|USDA|VA) 1 $85,000 $85,000 $2,138 7.75%
    Burlington, IA-IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.25%
    Hills Bank And Trust Company's top markets include Iowa City, Cedar Rapids, Waterloo, Mason City, and Fort Madison among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Hills Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ASCENTRA
    Similarity Rank: 48
    FIRST
    Similarity Rank: 112
    LINN AREA
    Similarity Rank: 128
    RUHL MORTGAGE, LLC
    Similarity Rank: 150
    Bankers Trust Company
    Similarity Rank: 162
    BankIowa of Cedar Rapids
    Similarity Rank: 170
    Fidelity Bank & Trust
    Similarity Rank: 182
    Hills Bank and Trust Company
    Similarity Rank: 300
    Collins Community Credit Union
    Similarity Rank: 345
    Ohnward Bank & Trust
    Similarity Rank: 420

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,450 $537,610,000 $219,433 $1,495 6.66%
    HELOC 572 $48,880,000 $85,455 n/a 7.75%

    For 2023, Hills Bank And Trust Company's most frequently originated type of loan was Conventional, with 2,450 originations. Their 2nd most popular type was HELOC, with 572 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,311 $489,575,000 $211,846 $1,534 6.63%
    Home Improvement 355 $39,825,000 $112,183 $304 7.77%
    Refi 195 $46,655,000 $239,256 $1,233 7.36%
    Other 136 $6,470,000 $47,574 $318 7.83%
    Cash Out Refi 25 $3,965,000 $158,600 $1,719 6.78%

    For 2023, Hills Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 2,311 originations. The 2nd most popular reason was Home Improvement, with 355 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,491 $305,105,000 $204,631 $1,639 6.39%
    5 Year 834 $112,770,000 $135,216 $0 7.55%
    Other 409 $119,725,000 $292,726 $295 6.92%
    1 Year 116 $28,810,000 $248,362 $0 8.44%
    20 Year 89 $2,785,000 $31,292 $270 6.82%
    15 Year 58 $12,380,000 $213,448 $1,375 6.20%
    10 Year 20 $710,000 $35,500 $487 6.21%
    3 Year 5 $4,205,000 $841,000 $0 6.52%

    For 2023, Hills Bank And Trust Company's most frequently cited loan duration was 30 Year, with 1,491 originations. The 2nd most popular length was 5 Year, with 834 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,741 $313,745,000 $180,210
    $1k-2k 60 $17,110,000 $285,167
    $2k-3k 7 $1,825,000 $260,714
    $5k+ 4 $2,030,000 $507,500
    $3k-4k 3 $705,000 $235,000
    $4k-5k 1 $215,000 $215,000

    Hills Bank And Trust Company's average total fees were $1,639, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,741 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,088 $257,860,000 $237,004
    7-8% 937 $126,435,000 $134,936
    5-6% 523 $132,745,000 $253,815
    Over 8% 361 $43,415,000 $120,263
    4-5% 64 $17,830,000 $278,594
    3-4% 45 $8,135,000 $180,778
    2.5-3% 4 $70,000 $17,500

    During 2023, Hills Bank And Trust Company's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was 6-7%, with 1,088 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,122 $47,730,000 $42,540 $513 7.39%
    $100k-200k 930 $139,140,000 $149,613 $1,804 6.62%
    $200k-400k 782 $212,380,000 $271,586 $1,878 6.51%
    $400k-600k 113 $53,955,000 $477,478 $2,145 6.48%
    $600k-1MM 46 $33,360,000 $725,217 $2,274 6.40%
    $1MM+ 29 $99,925,000 $3,445,690 $2,118 6.52%

    2023 saw Hills Bank And Trust Company place emphasis on $100,000 or less loans with 1,122 originations, totaling $47,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 619 $107,395,000 $173,498 $1,528 6.95%
    $50k-75k 543 $65,715,000 $121,022 $1,437 6.76%
    $75k-100k 450 $62,820,000 $139,600 $1,440 6.78%
    $150k-250k 342 $77,590,000 $226,871 $1,654 6.90%
    $50k or less 337 $33,245,000 $98,650 $1,485 6.95%
    $250k+ 140 $41,510,000 $296,500 $1,648 6.84%

    Hills Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 619 originations. The second most popular income band? $50k-75k, with 543 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 432 $62,860,000 $145,509 $1,598 6.88%
    30-36% 407 $63,045,000 $154,902 $1,481 6.78%
    <20% 261 $37,895,000 $145,192 $1,683 7.26%
    39% 100 $16,370,000 $163,700 $1,351 6.65%
    50-60% 95 $18,995,000 $199,947 $1,228 6.62%
    38% 95 $15,495,000 $163,105 $1,390 6.77%
    44% 90 $16,290,000 $181,000 $1,498 6.48%
    40% 90 $12,830,000 $142,556 $1,251 6.74%
    43% 89 $14,885,000 $167,247 $1,625 6.63%
    42% 81 $10,705,000 $132,160 $1,313 6.71%
    36% 77 $12,775,000 $165,909 $1,472 6.71%
    45% 76 $13,150,000 $173,026 $1,654 6.73%
    49% 67 $13,715,000 $204,701 $1,484 6.62%
    48% 67 $15,285,000 $228,134 $1,484 6.48%
    37% 66 $10,420,000 $157,879 $1,544 6.73%
    41% 66 $9,860,000 $149,394 $1,377 6.74%
    46% 51 $10,265,000 $201,275 $1,977 6.44%
    47% 48 $10,330,000 $215,208 $1,584 6.41%
    >60% 33 $6,105,000 $185,000 $1,417 6.67%

    Hills Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 432 originations. The next most common DTI ratio? 30-36%, with 407 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,911 $313,085,000 $163,833 $1,502 6.81%
    Not applicable 513 $187,215,000 $364,942 $0 6.83%
    Not provided 382 $47,700,000 $124,869 $1,426 7.30%
    Asian 77 $17,025,000 $221,104 $1,562 6.52%
    Black 105 $14,895,000 $141,857 $1,419 6.82%
    Asian Indian 13 $3,205,000 $246,538 $1,851 6.65%
    Other Asian 3 $1,145,000 $381,667 $1,847 6.21%
    American Indian 6 $1,010,000 $168,333 $1,774 7.25%
    Chinese 3 $525,000 $175,000 $1,781 6.33%
    Native Hawaiian or Islander 5 $325,000 $65,000 $1,021 7.63%
    Native Hawaiian 2 $170,000 $85,000 $1,004 7.38%
    Filipino 1 $165,000 $165,000 $1,783 6.25%
    Samoan 1 $25,000 $25,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    97.30%

    Hills Bank And Trust Company 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
    89.34%

    Hills Bank And Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,022 $586,490,000 $194,073

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,022 $586,490,000 $194,073

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 277 $37,695,000 $136,083 $1,318 7.57%
    40-60% 230 $59,100,000 $256,957 $1,770 6.98%
    60-80% 688 $198,620,000 $288,692 $1,864 6.81%
    80-100% 976 $246,140,000 $252,193 $1,896 6.53%
    Over 100% 1 $405,000 $405,000 $0 7.50%
    Under 20% 749 $27,135,000 $36,228 $194 7.38%