Carroll Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Carroll averaged 7.07% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 7.06% and one month ago for the week of 2023-08-17, the average rate was 6.57%.

Carroll's average rate one year ago was 5.7%.

For refis of the same type during the week of 2023-09-21, the average rate was 7.49%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Carroll 30 Year Fixed Rate 2023-09-21 7.07%
Carroll 30 Year Fixed Rate Refi 2023-09-21 7.49%
Carroll 15 Year Fixed Rate 2023-09-21 6.64%
Carroll 15 Year Fixed Rate Refi 2023-09-21 7.14%
Carroll 30 Year FHA 2023-09-21 7.04%
Carroll 30 Year FHA Refi 2023-09-21 7.04%
Carroll 30 Year USDA 2023-09-21 7.12%
Carroll 30 Year USDA Refi 2023-09-21 7.12%
Carroll 30 Year VA 2023-09-21 6.82%
Carroll 30 Year VA Refi 2023-09-21 6.62%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Carroll, IA.

Carroll 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 Carroll, 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.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
IOWA BANKERS MORTGAGE CORPORATION 32 4.64% $3,144
DUPACO COMMUNITY 28 4.82% $2,398
United Bank of Iowa 15 4.99% $2,978
Bankers' Bank 12 4.91% $3,645
QUICKEN LOANS, LLC 9 5.75% $4,706
Wells Fargo Bank 6 4.77% $2,993
Farm Credit Mid-America, ACA 6 5.02% $8,351
GREENSTATE CREDIT UNION 3 4.42% $1,886
Bank Iowa 2 5.38% $2,628
Truist 2 3.50% $3,219
Lincoln Savings Bank 2 3.89% $2,670
Mortgage Research Center, LLC 2 4.43% $3,224
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.88% $2,458
ROYAL UNITED MORTGAGE LLC 1 6.75% $5,602
The Central Trust Bank 1 5.63% $1,801
UNITED WHOLESALE MORTGAGE, LLC 1 7.13% $6,141
U.S. Bank 1 7.13% $3,104
VANDERBILT MORTGAGE AND FINANCE, INC. 1 4.50% $2,975
AMCAP MORTGAGE, LTD. 1 5.63% $4,219
ZILLOW HOME LOANS, LLC 1 7.13% $4,879
AmeriHome Mortgage Company, LLC 1 6.13% $3,051
Bank Midwest 1 3.88% $4,051
Central Bank 1 3.88% $4,166
CHEVRON 1 3.88% $5,331
Collins Community Credit Union 1 3.50% $1,623
COMMUNITY 1ST CREDIT UNION 1 4.63% $2,201
FREEDOM MORTGAGE CORPORATION 1 4.75% $4,459
HOMESIDE FINANCIAL, LLC 1 3.75% $3,962
LAND HOME FINANCIAL SERVICES, INC. 1 3.00% $8,523
LOANDEPOT.COM, LLC 1 3.99% $4,913
Midwest Heritage Bank FSB 1 5.50% $3,084

Carroll Average Closing Costs & Other Stats

Carroll, IA's 31 lenders originated 321 loans during 2022. The total origination value was $46,525,000, with an average loan value of $144,938.

Carroll's average closing costs are $3,598.

The top Carroll lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with 32 loans originated. Their average total fees are $3,144, which is $746 higher than the next largest lender, DUPACO COMMUNITY.

The lowest fee Carroll lenders (with over 10 loans originated) are DUPACO COMMUNITY ($2,398), United Bank of Iowa ($2,978), IOWA BANKERS MORTGAGE CORPORATION ($3,144), Bankers' Bank ($3,645) and .

The lowest rate Carroll lenders (with over 10 loans originated) are IOWA BANKERS MORTGAGE CORPORATION (4.64%), DUPACO COMMUNITY (4.82%), Bankers' Bank (4.91%), United Bank of Iowa (4.99%) and .

Carroll, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
IOWA BANKERS MORTGAGE CORPORATION $13,415,000 $7,320,000 -45.4% 15.7%
DUPACO COMMUNITY $10,400,000 $6,645,000 -36.1% 14.3%
United Bank of Iowa $8,130,000 $4,440,000 -45.4% 9.5%
QUICKEN LOANS, LLC $4,695,000 $4,205,000 -10.4% 9.0%
Bankers' Bank $12,360,000 $3,250,000 -73.7% 7.0%
Farm Credit Mid-America, ACA $2,385,000 $2,160,000 -9.4% 4.6%
Availa Bank $3,925,000 $1,905,000 -51.5% 4.1%
Mortgage Research Center, LLC $1,320,000 $1,505,000 14.0% 3.2%
Wells Fargo Bank $1,515,000 $1,350,000 -10.9% 2.9%
Bank Iowa $1,385,000 $1,000,000 -27.8% 2.1%
City State Bank $805,000 n/a 1.7%
JPMorgan Chase Bank $755,000 n/a 1.6%
CITY FIRST MORTGAGE SERVICES, L.L.C. $75,000 $590,000 686.7% 1.3%
GREENSTATE CREDIT UNION $1,245,000 $585,000 -53.0% 1.3%
AMCAP MORTGAGE, LTD. $260,000 $570,000 119.2% 1.2%
Bank of the West $905,000 $530,000 -41.4% 1.1%
UNITED WHOLESALE MORTGAGE, LLC $485,000 n/a 1.0%
LOANDEPOT.COM, LLC $440,000 n/a 0.9%
PENNYMAC LOAN SERVICES, LLC $435,000 n/a 0.9%
LAND HOME FINANCIAL SERVICES, INC. $430,000 n/a 0.9%
Central Bank $85,000 $370,000 335.3% 0.8%
Flagstar Bank, FSB $355,000 n/a 0.8%
U.S. Bank $375,000 $345,000 -8.0% 0.7%
Truist $145,000 $290,000 100.0% 0.6%
GREATER IOWA CREDIT UNION $285,000 $260,000 -8.8% 0.6%
Hometown Equity Mortgage, LLC $215,000 $245,000 14.0% 0.5%
Amarillo National Bank $235,000 n/a 0.5%
Chickasaw Community Bank $115,000 $235,000 104.3% 0.5%
Low VA Rates, LLC $235,000 n/a 0.5%
COMMUNITY 1ST CREDIT UNION $225,000 n/a 0.5%
Lincoln Savings Bank $360,000 $200,000 -44.4% 0.4%
CHEVRON $195,000 n/a 0.4%
HOMESIDE FINANCIAL, LLC $145,000 $195,000 34.5% 0.4%
ZILLOW HOME LOANS, LLC $185,000 $195,000 5.4% 0.4%
ROYAL UNITED MORTGAGE LLC $145,000 $190,000 31.0% 0.4%
UNION HOME MORTGAGE CORP. $185,000 n/a 0.4%
HOME POINT FINANCIAL CORPORATION $265,000 $175,000 -34.0% 0.4%
VANDERBILT MORTGAGE AND FINANCE, INC. $165,000 n/a 0.4%
Midwest Heritage Bank FSB $315,000 $160,000 -49.2% 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $195,000 $155,000 -20.5% 0.3%
The Central Trust Bank $155,000 n/a 0.3%
Collins Community Credit Union $140,000 n/a 0.3%
GUILD MORTGAGE COMPANY $340,000 $135,000 -60.3% 0.3%
VERIDIAN CREDIT UNION $100,000 $135,000 35.0% 0.3%
Exchange Bank $125,000 n/a 0.3%
LAKEVIEW LOAN SERVICING, LLC $125,000 n/a 0.3%
Community Choice Credit Union $120,000 n/a 0.3%
AmeriHome Mortgage Company, LLC $105,000 n/a 0.2%
AMERISAVE MORTGAGE CORPORATION $360,000 $105,000 -70.8% 0.2%
CMG MORTGAGE, INC. $95,000 n/a 0.2%
VILLAGE CAPITAL MORTGAGE $95,000 n/a 0.2%
FREEDOM MORTGAGE CORPORATION $995,000 $85,000 -91.5% 0.2%
Bank Midwest $310,000 $75,000 -75.8% 0.2%
HOMESERVICES LENDING, LLC $175,000 $75,000 -57.1% 0.2%
PNC Bank $75,000 n/a 0.2%
ANDREWS FEDERAL CREDIT UNION $65,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $355,000 $55,000 -84.5% 0.1%
NAVY FEDERAL CREDIT UNION $215,000 $55,000 -74.4% 0.1%
NEW DAY FINANCIAL, LLC $55,000 n/a 0.1%
Peoples Bank $140,000 $35,000 -75.0% 0.1%

Carroll's top lender by overall market share is IOWA BANKERS MORTGAGE CORPORATION, with 15.7% market share. In second place, with 14.3%, is DUPACO COMMUNITY, having originated $6,645,000 in loans. In third place, with 9.5%, is United Bank of Iowa, having originated $4,440,000 in loans. In fourth place, with 9.0%, is QUICKEN LOANS, LLC, having originated $4,205,000 in loans. In fifth place, with 7.0%, is Bankers' Bank, having originated $3,250,000 in loans.

Carroll, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 178 $29,960,000 $168,315
Refi 55 $7,215,000 $131,182
Cash Out Refi 49 $7,215,000 $147,245
Other 29 $1,455,000 $50,172
Home Improvement 10 $680,000 $68,000

Carroll's most frequently cited loan purpose was Home Purchase, with 178 originations. The 2nd most popular reason was Refi, with 55 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 81 $11,005,000 $135,864
3-4% 76 $10,270,000 $135,132
4-5% 68 $10,370,000 $152,500
2.5-3% 28 $4,850,000 $173,214
6-7% 26 $3,570,000 $137,308
<2.5% 14 $1,900,000 $135,714
7-8% 12 $1,250,000 $104,167

During 2022, Carroll's most frequently originated rate bucket was 5-6%, with 81 originations.

Loan Sizing (Carroll, IA MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 142 $20,800,000 $146,479
$100,000 or less 117 $7,375,000 $63,034
$200k-400k 54 $14,090,000 $260,926
$400k-600k 6 $2,830,000 $471,667
$600k-1000k 2 $1,430,000 $715,000

Carroll's loan sizing saw the bucket of loans from $100k-200k with 142 originations, totaling $20,800,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 136 $21,160,000 $155,588
60-80% 90 $15,680,000 $174,222
40-60% 27 $2,905,000 $107,593
Under 20% 25 $1,145,000 $45,800
20-40% 23 $1,715,000 $74,565
Over 100% 2 $410,000 $205,000

Carroll's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 136 originations, totaling $21,160,000 in origination value.