AMES Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ames averaged
6.6%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.83% and
one month ago for the week of 2025-05-15, the
average rate was 6.9%.
Ames's average rate one year ago was 7.04%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.55%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Ames 30 Year Fixed Rate | 2025-06-18 | 6.6% |
| Ames 30 Year Fixed Rate Refi | 2025-06-18 | 6.55% |
| Ames 15 Year Fixed Rate | 2025-06-18 | 6.06% |
| Ames 15 Year Fixed Rate Refi | 2025-06-18 | 6.26% |
| Ames 30 Year FHA | 2025-06-18 | 0.27% |
| Ames 30 Year FHA Refi | 2025-06-18 | 0% |
| Ames 30 Year USDA | 2025-06-18 | -0.2% |
| Ames 30 Year USDA Refi | 2025-06-18 | 0% |
| Ames 30 Year VA | 2025-06-18 | 0.03% |
| Ames 30 Year VA Refi | 2025-06-18 | -0.2% |
AMES Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the AMES, IA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
AMES Average Closing Costs & Other Stats
AMES, IA's 89 lenders originated 2,228
loans during 2024. The total origination value was $470,660,000, with an average loan value of
$211,248.
AMES's average closing costs are $3,460.
The top AMES lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with
194 loans originated. Their average total fees are
$2,406, which is $1,578
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee AMES lenders (with over 10 loans originated) are
Luana Savings Bank ($1,304), GREENSTATE CREDIT UNION ($1,964), VERIDIAN CREDIT UNION ($1,965), GREATER IOWA CREDIT UNION ($2,107) and Bankers Trust Company ($2,159).
The lowest rate AMES lenders (with over 10 loans originated) are
Bankers Trust Company (6.02%), VERIDIAN CREDIT UNION (6.09%), Community Choice Credit Union (6.19%), West Gate Bank (6.38%) and GREENSTATE CREDIT UNION (6.39%).
AMES, IA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| IOWA BANKERS MORTGAGE CORPORATION | $43,940,000 | $55,100,000 | 25.4% | 11.7% |
| GUILD MORTGAGE COMPANY | $22,015,000 | $27,015,000 | 22.7% | 5.7% |
| GREENSTATE CREDIT UNION | $17,895,000 | $21,665,000 | 21.1% | 4.6% |
| Farmers State Bank | $395,000 | $17,505,000 | 4,331.6% | 3.7% |
| Northwest Bank | $24,840,000 | $17,010,000 | -31.5% | 3.6% |
| First National Bank, Ames, Iowa | $6,515,000 | $16,040,000 | 146.2% | 3.4% |
| GREATER IOWA CREDIT UNION | $14,665,000 | $14,970,000 | 2.1% | 3.2% |
| VERIDIAN CREDIT UNION | $11,250,000 | $14,940,000 | 32.8% | 3.2% |
| VisionBank of Iowa | $7,390,000 | $14,040,000 | 90.0% | 3.0% |
| Wells Fargo Bank | $13,540,000 | $13,930,000 | 2.9% | 3.0% |
| Community Choice Credit Union | $7,805,000 | $13,845,000 | 77.4% | 2.9% |
| QUICKEN LOANS, LLC | $9,580,000 | $11,875,000 | 24.0% | 2.5% |
| Bank Iowa | $930,000 | $11,730,000 | 1,161.3% | 2.5% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $9,635,000 | $11,450,000 | 18.8% | 2.4% |
| U.S. Bank | $9,915,000 | $11,115,000 | 12.1% | 2.4% |
| Bankers Trust Company | $11,580,000 | $10,410,000 | -10.1% | 2.2% |
| Availa Bank | $8,090,000 | $10,295,000 | 27.3% | 2.2% |
| Mortgage Research Center, LLC | $4,785,000 | $8,125,000 | 69.8% | 1.7% |
| Luana Savings Bank | $4,095,000 | $6,330,000 | 54.6% | 1.3% |
| South Story Bank & Trust | $7,530,000 | $6,030,000 | -19.9% | 1.3% |
| LAND HOME FINANCIAL SERVICES, INC. | $4,055,000 | $5,945,000 | 46.6% | 1.3% |
| BROKER SOLUTIONS, INC. | $800,000 | $4,995,000 | 524.4% | 1.1% |
| HOMESIDE FINANCIAL, LLC | $4,020,000 | $4,605,000 | 14.6% | 1.0% |
| HOMESERVICES LENDING, LLC | $3,830,000 | $4,250,000 | 11.0% | 0.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $4,770,000 | $4,215,000 | -11.6% | 0.9% |
| NEWREZ LLC | $2,035,000 | $4,055,000 | 99.3% | 0.9% |
| Barrington Bank & Trust Company, N.A. | $1,785,000 | $3,980,000 | 123.0% | 0.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,915,000 | $3,725,000 | -4.9% | 0.8% |
| GUARANTEED RATE, INC. | $3,950,000 | $3,690,000 | -6.6% | 0.8% |
| West Gate Bank | $885,000 | $3,430,000 | 287.6% | 0.7% |
| First Interstate Bank | $2,170,000 | $3,410,000 | 57.1% | 0.7% |
| Premier Credit Union | $4,995,000 | $3,405,000 | -31.8% | 0.7% |
| Exchange State Bank | $4,045,000 | $3,345,000 | -17.3% | 0.7% |
| GERSHMAN INVESTMENT CORP. | $1,250,000 | $3,305,000 | 164.4% | 0.7% |
| City State Bank | $1,125,000 | $3,165,000 | 181.3% | 0.7% |
| Fortress Bank | $1,380,000 | $3,160,000 | 129.0% | 0.7% |
| RIVER VALLEY CREDIT UNION | $3,165,000 | $3,040,000 | -3.9% | 0.6% |
| Raccoon Valley Bank | $2,510,000 | $2,820,000 | 12.4% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $3,090,000 | $2,605,000 | -15.7% | 0.6% |
| United Bank of Iowa | $1,460,000 | $2,550,000 | 74.7% | 0.5% |
| MEMBERS1st Community Credit Union | $3,880,000 | $2,455,000 | -36.7% | 0.5% |
| GNB Bank | $1,740,000 | $2,430,000 | 39.7% | 0.5% |
| The Central Trust Bank | $1,165,000 | $2,420,000 | 107.7% | 0.5% |
| ENVOY MORTGAGE, LTD | $1,155,000 | $2,405,000 | 108.2% | 0.5% |
| MOVEMENT MORTGAGE, LLC | $375,000 | $2,180,000 | 481.3% | 0.5% |
| Farm Credit Mid-America, ACA | $2,185,000 | $2,160,000 | -1.1% | 0.5% |
| FIRST COMMUNITY MORTGAGE, INC. | $2,130,000 | n/a | 0.5% | |
| Flagstar Bank, FSB | $785,000 | $1,985,000 | 152.9% | 0.4% |
| DUPACO COMMUNITY | $1,430,000 | $1,835,000 | 28.3% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $330,000 | $1,810,000 | 448.5% | 0.4% |
| Peoples Bank | $990,000 | $1,750,000 | 76.8% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $1,855,000 | $1,740,000 | -6.2% | 0.4% |
| Hills Bank and Trust Company | $610,000 | $1,565,000 | 156.6% | 0.3% |
| BMO Harris Bank | $1,485,000 | $1,420,000 | -4.4% | 0.3% |
| Ames National Corporation/Reliance State Bank | $1,275,000 | $1,385,000 | 8.6% | 0.3% |
| Central Bank | $555,000 | $1,380,000 | 148.6% | 0.3% |
| CMG MORTGAGE, INC. | $1,725,000 | $1,350,000 | -21.7% | 0.3% |
| USAA Federal Savings Bank | $445,000 | $1,245,000 | 179.8% | 0.3% |
| JPMorgan Chase Bank | $1,420,000 | $1,150,000 | -19.0% | 0.2% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $1,140,000 | n/a | 0.2% | |
| NAVY FEDERAL CREDIT UNION | $1,315,000 | $1,100,000 | -16.3% | 0.2% |
| Lincoln Savings Bank | $6,385,000 | $1,080,000 | -83.1% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $505,000 | $1,070,000 | 111.9% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $370,000 | $1,070,000 | 189.2% | 0.2% |
| ENDEAVOR CAPITAL, LLC. | $380,000 | $1,065,000 | 180.3% | 0.2% |
| AmeriHome Mortgage Company, LLC | $1,040,000 | n/a | 0.2% | |
| PREMIA MORTGAGE, LLC | $1,005,000 | n/a | 0.2% | |
| Collins Community Credit Union | $975,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $65,000 | $965,000 | 1,384.6% | 0.2% |
| Midwest Heritage Bank FSB | $1,215,000 | $930,000 | -23.5% | 0.2% |
| American State Bank | $145,000 | $925,000 | 537.9% | 0.2% |
| CARDINAL FINANCIAL | $1,860,000 | $905,000 | -51.3% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $295,000 | $875,000 | 196.6% | 0.2% |
| Earlham Savings Bank | $750,000 | $835,000 | 11.3% | 0.2% |
| First Federal Bank | $780,000 | n/a | 0.2% | |
| Iowa State Bank | $35,000 | $765,000 | 2,085.7% | 0.2% |
| Carrington Mortgage Services, LLC | $1,030,000 | $680,000 | -34.0% | 0.1% |
| Figure Lending LLC | $390,000 | $640,000 | 64.1% | 0.1% |
| FRONTIER FINANCIAL, INC. | $2,615,000 | $625,000 | -76.1% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $600,000 | $590,000 | -1.7% | 0.1% |
| Green Belt Bank & Trust | $585,000 | n/a | 0.1% | |
| MARINE | $410,000 | $565,000 | 37.8% | 0.1% |
| Mount Vernon Bank and Trust Company | $535,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $95,000 | $525,000 | 452.6% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $510,000 | n/a | 0.1% | |
| BANKORION | $505,000 | n/a | 0.1% | |
| Community Savings Bank | $505,000 | n/a | 0.1% | |
| COMPASS MORTGAGE, INC. | $475,000 | n/a | 0.1% | |
| NBKC BANK | $470,000 | n/a | 0.1% | |
| The Federal Savings Bank | $205,000 | $470,000 | 129.3% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $760,000 | $445,000 | -41.4% | 0.1% |
| Plains Commerce Bank | $825,000 | $440,000 | -46.7% | 0.1% |
| Security Savings Bank | $415,000 | n/a | 0.1% | |
| First State Bank of St. Charles, Missouri | $405,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $400,000 | n/a | 0.1% | |
| Commerce Home Mortgage, Inc. | $385,000 | n/a | 0.1% | |
| ZILLOW HOME LOANS, LLC | $380,000 | n/a | 0.1% | |
| Charles Schwab Bank, SSB | $685,000 | $375,000 | -45.3% | 0.1% |
| First Federal Bank, A FSB | $375,000 | n/a | 0.1% | |
| Gate City Bank | $435,000 | $375,000 | -13.8% | 0.1% |
| Gateway First Bank | $355,000 | n/a | 0.1% | |
| Fifth Third Bank | $345,000 | n/a | 0.1% | |
| FNB BANK | $345,000 | n/a | 0.1% | |
| Zions Bank | $335,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $325,000 | n/a | 0.1% | |
| MORTGAGE ACCESS CORP. | $545,000 | $325,000 | -40.4% | 0.1% |
| The Loan Store, Inc. | $315,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $305,000 | $300,000 | -1.6% | 0.1% |
| Servion, Inc. | $170,000 | $290,000 | 70.6% | 0.1% |
| Deere Employees Credit Union | $2,865,000 | $285,000 | -90.1% | 0.1% |
| First National Bank of Omaha | $275,000 | $285,000 | 3.6% | 0.1% |
| First Savings Bank | $275,000 | n/a | 0.1% | |
| UIF CORPORATION | $275,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $265,000 | n/a | 0.1% | |
| MidWestOne Bank | $110,000 | $265,000 | 140.9% | 0.1% |
| 21ST MORTGAGE CORPORATION | $70,000 | $260,000 | 271.4% | 0.1% |
| BNY Mellon | $255,000 | n/a | 0.1% | |
| BAY EQUITY LLC | $245,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $180,000 | $245,000 | 36.1% | 0.1% |
| Bank of America | $2,150,000 | $230,000 | -89.3% | 0.0% |
| NEW DAY FINANCIAL, LLC | $340,000 | $230,000 | -32.4% | 0.0% |
| LENDSURE MORTGAGE CORP. | $225,000 | n/a | 0.0% | |
| Alerus Financial | $215,000 | n/a | 0.0% | |
| V.I.P. MORTGAGE, INC. | $215,000 | n/a | 0.0% | |
| American Mortgage & Equity Consultants, Inc. | $335,000 | $205,000 | -38.8% | 0.0% |
| AMERISAVE MORTGAGE CORPORATION | $530,000 | $205,000 | -61.3% | 0.0% |
| Equity Prime Mortgage LLC | $205,000 | n/a | 0.0% | |
| Northpointe Bank | $205,000 | n/a | 0.0% | |
| Two Rivers Bank & Trust | $205,000 | n/a | 0.0% | |
| LOANDEPOT.COM, LLC | $1,255,000 | $200,000 | -84.1% | 0.0% |
| Truist | $1,090,000 | $195,000 | -82.1% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $175,000 | n/a | 0.0% | |
| STOCKTON MORTGAGE CORPORATION | $165,000 | n/a | 0.0% | |
| WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION | $165,000 | n/a | 0.0% | |
| Associated Bank | $155,000 | n/a | 0.0% | |
| CHURCHILL MORTGAGE CORPORATION | $400,000 | $155,000 | -61.3% | 0.0% |
| DuTrac Community Credit Union | $155,000 | n/a | 0.0% | |
| Washington State Bank | $325,000 | $155,000 | -52.3% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $150,000 | n/a | 0.0% | |
| American Mortgage Bank, LLC | $145,000 | n/a | 0.0% | |
| Citizens State Bank | $135,000 | n/a | 0.0% | |
| Coastal Community Bank | $265,000 | $135,000 | -49.1% | 0.0% |
| GENEVA FINANCIAL, LLC | $135,000 | n/a | 0.0% | |
| Merchants Bank | $125,000 | n/a | 0.0% | |
| Primebank | $125,000 | n/a | 0.0% | |
| Willamette Valley Bank | $125,000 | n/a | 0.0% | |
| Ally Bank | $225,000 | $115,000 | -48.9% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $115,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $115,000 | n/a | 0.0% | |
| Farmers and Merchants Bank of Ashland | $105,000 | n/a | 0.0% | |
| MICHIGAN MUTUAL, INC. | $105,000 | n/a | 0.0% | |
| State Savings Bank | $155,000 | $105,000 | -32.3% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $90,000 | n/a | 0.0% | |
| COMMUNITY 1ST CREDIT UNION | $155,000 | $75,000 | -51.6% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $75,000 | n/a | 0.0% | |
| Farmers National Bank | $75,000 | n/a | 0.0% | |
| ATLANTA POSTAL | $45,000 | n/a | 0.0% | |
| CHEVRON | $225,000 | $45,000 | -80.0% | 0.0% |
| Union Bank and Trust Company | $45,000 | n/a | 0.0% | |
| First Class Community Credit Union | $35,000 | n/a | 0.0% | |
| Tradesmen Community Credit Union | $35,000 | n/a | 0.0% | |
| Transportation Federal Credit Union | $35,000 | n/a | 0.0% | |
| Citizens Bank | $65,000 | $25,000 | -61.5% | 0.0% |
| Community State Bank | $1,575,000 | $15,000 | -99.0% | 0.0% |
| FINANCIAL PLUS Credit Union | $355,000 | $15,000 | -95.8% | 0.0% |
| Third Federal Savings and Loan Association of Cleveland | $75,000 | $15,000 | -80.0% | 0.0% |
AMES's top lender by overall market share is IOWA BANKERS MORTGAGE CORPORATION, with 11.7% market share. In second place, with 5.7%, is GUILD MORTGAGE COMPANY, having originated $27,015,000 in loans. In third place, with 4.6%, is GREENSTATE CREDIT UNION, having originated $21,665,000 in loans. In fourth place, with 3.7%, is Farmers State Bank, having originated $17,505,000 in loans. In fifth place, with 3.6%, is Northwest Bank, having originated $17,010,000 in loans.
AMES, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,341 | $321,075,000 | $239,430 |
| Refi | 243 | $89,535,000 | $368,457 |
| Home Improvement | 225 | $14,635,000 | $65,044 |
| Other | 224 | $16,090,000 | $71,830 |
| Cash Out Refi | 195 | $29,325,000 | $150,385 |
Ames's most frequently cited loan purpose was Home Purchase, with 1,341 originations. The 2nd most popular reason was Refi, with 243 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 911 | $214,795,000 | $235,779 |
| 7-8% | 372 | $85,150,000 | $228,898 |
| 5-6% | 303 | $64,485,000 | $212,822 |
| Over 8% | 258 | $24,540,000 | $95,116 |
| <2.5% | 37 | $395,000 | $10,676 |
| 4-5% | 15 | $3,675,000 | $245,000 |
| 2.5-3% | 2 | $70,000 | $35,000 |
| 3-4% | 1 | $305,000 | $305,000 |
During 2024, Ames's most frequently originated rate bucket was 6-7%, with 911 originations.
Loan Sizing (AMES, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 714 | $197,310,000 | $276,345 |
| $100k-200k | 672 | $101,290,000 | $150,729 |
| $100,000 or less | 646 | $31,220,000 | $48,328 |
| $400k-600k | 139 | $65,125,000 | $468,525 |
| $600k-1000k | 42 | $30,570,000 | $727,857 |
| $Over $1MM | 15 | $45,145,000 | $3,009,667 |
AMES's loan sizing saw the bucket of loans from $200k-400k with 714 originations, totaling $197,310,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 764 | $192,750,000 | $252,291 |
| 60-80% | 420 | $119,680,000 | $284,952 |
| Under 20% | 322 | $13,580,000 | $42,174 |
| 20-40% | 216 | $25,270,000 | $116,991 |
| 40-60% | 140 | $31,070,000 | $221,929 |
| Over 100% | 26 | $7,970,000 | $306,538 |
AMES's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 764 originations, totaling $192,750,000 in origination value.