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 7.05% for the week of 2024-07-03, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-27) was 7.06% and one month ago for the week of 2024-05-30, the average rate was 7.23%.

Carroll's average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-07-03, the average rate was 7.05%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-03 6.95%
Carroll 30 Year Fixed Rate 2024-07-03 7.05%
Carroll 30 Year Fixed Rate Refi 2024-07-03 7.05%
Carroll 15 Year Fixed Rate 2024-07-03 6.45%
Carroll 15 Year Fixed Rate Refi 2024-07-03 6.25%
Carroll 30 Year FHA 2024-07-03 6.52%
Carroll 30 Year FHA Refi 2024-07-03 6.82%
Carroll 30 Year USDA 2024-07-03 6.54%
Carroll 30 Year USDA Refi 2024-07-03 6.54%
Carroll 30 Year VA 2024-07-03 6.38%
Carroll 30 Year VA Refi 2024-07-03 6.38%
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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DUPACO COMMUNITY 14 6.16% $2,197
United Bank of Iowa 8 6.72% $2,273
IOWA BANKERS MORTGAGE CORPORATION 7 6.75% $2,826
QUICKEN LOANS, LLC 6 6.56% $3,331
Bankers' Bank 6 6.52% $4,289
FLAT BRANCH MORTGAGE, INC. 1 6.99% $5,438
GREENSTATE CREDIT UNION 1 6.75% $1,837
Midwest Heritage Bank FSB 1 7.00% $2,979
Mortgage Research Center, LLC 1 7.13% $4,028
PREMIA MORTGAGE, LLC 1 6.13% $1,680
U.S. Bank 1 6.99% $3,440
VERIDIAN CREDIT UNION 1 6.88% $1,793
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.00% $665
Wells Fargo Bank 1 6.13% $3,497
Bank Iowa 1 6.38% $2,132
Barrington Bank & Trust Company, N.A. 1 6.38% $3,069
Deere Employees Credit Union 1 5.63% $3,638
First National Bank of Omaha 1 8.00% $4,197

Carroll Average Closing Costs & Other Stats

Carroll, IA's 18 lenders originated 206 loans during 2023. The total origination value was $30,590,000, with an average loan value of $148,495.

Carroll's average closing costs are $3,678.

The top Carroll lender as defined by loan originations is DUPACO COMMUNITY, with 14 loans originated. Their average total fees are $2,197, which is $77 lower than the next largest lender, United Bank of Iowa.

The lowest fee Carroll lenders (with over 10 loans originated) are DUPACO COMMUNITY ($2,197), .

The lowest rate Carroll lenders (with over 10 loans originated) are DUPACO COMMUNITY (6.16%), .

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
DUPACO COMMUNITY $6,645,000 $4,540,000 -31.7% 14.8%
Availa Bank $1,905,000 $2,700,000 41.7% 8.8%
FOX COMMUNITIES $2,505,000 n/a 8.2%
United Bank of Iowa $4,440,000 $2,235,000 -49.7% 7.3%
IOWA BANKERS MORTGAGE CORPORATION $7,320,000 $1,535,000 -79.0% 5.0%
QUICKEN LOANS, LLC $4,205,000 $1,235,000 -70.6% 4.0%
Bankers' Bank $3,250,000 $1,065,000 -67.2% 3.5%
AMCAP MORTGAGE, LTD. $570,000 $715,000 25.4% 2.3%
Mortgage Research Center, LLC $1,505,000 $610,000 -59.5% 2.0%
PENNYMAC LOAN SERVICES, LLC $435,000 $585,000 34.5% 1.9%
Deere Employees Credit Union $515,000 n/a 1.7%
Lincoln Savings Bank $200,000 $470,000 135.0% 1.5%
BMO Harris Bank $430,000 n/a 1.4%
NBKC BANK $415,000 n/a 1.4%
AMERICAN FINANCING CORPORATION $55,000 $395,000 618.2% 1.3%
GERSHMAN INVESTMENT CORP. $365,000 n/a 1.2%
USAA Federal Savings Bank $350,000 n/a 1.1%
Core Bank $320,000 n/a 1.0%
Bank Iowa $1,000,000 $315,000 -68.5% 1.0%
UNITED WHOLESALE MORTGAGE, LLC $485,000 $275,000 -43.3% 0.9%
LAND HOME FINANCIAL SERVICES, INC. $430,000 $235,000 -45.3% 0.8%
CASTLE & COOKE MORTGAGE, LLC $230,000 n/a 0.8%
NAVY FEDERAL CREDIT UNION $55,000 $220,000 300.0% 0.7%
HOMEBRIDGE FINANCIAL SERVICES, INC. $215,000 n/a 0.7%
Midwest Heritage Bank FSB $160,000 $215,000 34.4% 0.7%
FLAT BRANCH MORTGAGE, INC. $195,000 n/a 0.6%
MUTUAL OF OMAHA MORTGAGE, INC. $155,000 $195,000 25.8% 0.6%
Flagstar Bank, FSB $355,000 $190,000 -46.5% 0.6%
Chelsea Savings Bank $185,000 n/a 0.6%
GREENSTATE CREDIT UNION $585,000 $175,000 -70.1% 0.6%
UNION HOME MORTGAGE CORP. $185,000 $175,000 -5.4% 0.6%
VERIDIAN CREDIT UNION $135,000 $170,000 25.9% 0.6%
CARDINAL FINANCIAL $165,000 n/a 0.5%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $160,000 n/a 0.5%
EMM LOANS LLC $155,000 n/a 0.5%
PREMIA MORTGAGE, LLC $155,000 n/a 0.5%
Barrington Bank & Trust Company, N.A. $145,000 n/a 0.5%
ENDEAVOR CAPITAL, LLC. $135,000 n/a 0.4%
MID AMERICA MORTGAGE, INC. $135,000 n/a 0.4%
Premier Bank $135,000 n/a 0.4%
Wells Fargo Bank $1,350,000 $135,000 -90.0% 0.4%
First National Bank of Omaha $125,000 n/a 0.4%
Fortress Bank $125,000 n/a 0.4%
FREEDOM MORTGAGE CORPORATION $85,000 $115,000 35.3% 0.4%
Guthrie County State Bank $115,000 n/a 0.4%
U.S. Bank $345,000 $105,000 -69.6% 0.3%
Peoples Bank $35,000 $100,000 185.7% 0.3%
Chickasaw Community Bank $235,000 $85,000 -63.8% 0.3%
Farm Credit Mid-America, ACA $2,160,000 $85,000 -96.1% 0.3%
WINGS FINANCIAL $75,000 n/a 0.2%
GREATER IOWA CREDIT UNION $260,000 $45,000 -82.7% 0.1%
American National Bank $15,000 n/a 0.0%
Coastal Community Bank $15,000 n/a 0.0%
Farmers State Bank $15,000 n/a 0.0%

Carroll's top lender by overall market share is DUPACO COMMUNITY, with 14.8% market share. In second place, with 8.8%, is Availa Bank, having originated $2,700,000 in loans. In third place, with 8.2%, is FOX COMMUNITIES, having originated $2,505,000 in loans. In fourth place, with 7.3%, is United Bank of Iowa, having originated $2,235,000 in loans. In fifth place, with 5.0%, is IOWA BANKERS MORTGAGE CORPORATION, having originated $1,535,000 in loans.

Carroll, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 117 $22,795,000 $194,829
Other 38 $1,860,000 $48,947
Refi 21 $2,555,000 $121,667
Cash Out Refi 16 $2,380,000 $148,750
Home Improvement 14 $1,000,000 $71,429

Carroll's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Other, with 38 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 60 $9,730,000 $162,167
7-8% 49 $5,005,000 $102,143
5-6% 30 $7,600,000 $253,333
Over 8% 20 $1,010,000 $50,500
<2.5% 1 $5,000 $5,000

During 2023, Carroll's most frequently originated rate bucket was 6-7%, with 60 originations.

Loan Sizing (Carroll, IA MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 91 $13,315,000 $146,319
$100,000 or less 80 $4,000,000 $50,000
$200k-400k 27 $7,425,000 $275,000
$400k-600k 6 $2,690,000 $448,333
$600k-1000k 1 $655,000 $655,000
$Over $1MM 1 $2,505,000 $2,505,000

Carroll's loan sizing saw the bucket of loans from $100k-200k with 91 originations, totaling $13,315,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 71 $11,885,000 $167,394
60-80% 32 $7,490,000 $234,063
Under 20% 20 $740,000 $37,000
20-40% 19 $1,085,000 $57,105
40-60% 15 $1,615,000 $107,667
Over 100% 3 $535,000 $178,333

Carroll's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 71 originations, totaling $11,885,000 in origination value.