CEDAR RAPIDS Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Cedar Rapids averaged 6.32% for the week of 2024-11-07, compared to the national average of 6.79% for the same period.

    The average rate for the prior week (2024-10-31) was 6.25% and one month ago for the week of 2024-10-03, the average rate was 5.65%.

    Cedar Rapids's average rate one year ago was 7.59%.

    For refis of the same type during the week of 2024-11-07, the average rate was 7.03%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-07 6.79%
    Cedar Rapids 30 Year Fixed Rate 2024-11-07 6.32%
    Cedar Rapids 30 Year Fixed Rate Refi 2024-11-07 7.03%
    Cedar Rapids 15 Year Fixed Rate 2024-11-07 6.65%
    Cedar Rapids 15 Year Fixed Rate Refi 2024-11-07 6.3%
    Cedar Rapids 30 Year FHA 2024-11-07 6.23%
    Cedar Rapids 30 Year FHA Refi 2024-11-07 6.43%
    Cedar Rapids 30 Year USDA 2024-11-07 6.28%
    Cedar Rapids 30 Year USDA Refi 2024-11-07 6.58%
    Cedar Rapids 30 Year VA 2024-11-07 6.31%
    Cedar Rapids 30 Year VA Refi 2024-11-07 6.14%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within CEDAR RAPIDS, IA.

    CEDAR RAPIDS 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 CEDAR RAPIDS, 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
    GREENSTATE CREDIT UNION 715 6.32% $1,939
    Hills Bank and Trust Company 496 6.36% $1,926
    Collins Community Credit Union 274 6.35% $2,035
    VERIDIAN CREDIT UNION 147 6.57% $1,947
    Ohnward Bank & Trust 87 6.60% $2,532
    DUPACO COMMUNITY 82 6.09% $2,295
    LINN AREA 78 6.45% $2,027
    UNITED WHOLESALE MORTGAGE, LLC 76 7.20% $4,620
    IOWA BANKERS MORTGAGE CORPORATION 71 6.24% $2,340
    FLAT BRANCH MORTGAGE, INC. 53 6.62% $3,286
    FIRST 47 6.17% $2,482
    BROKER SOLUTIONS, INC. 44 6.97% $4,197
    QUICKEN LOANS, LLC 44 6.90% $5,301
    U.S. Bank 39 6.96% $2,831
    RESIDENTIAL MORTGAGE NETWORK, INC. 32 6.77% $2,436
    Wells Fargo Bank 29 7.19% $3,293
    BankIowa of Cedar Rapids 25 6.37% $2,256
    Fidelity Bank & Trust 21 6.61% $1,827
    Waterstone Mortgage Corporation 21 6.50% $6,009
    Bankers Trust Company 21 4.90% $1,994
    DHI MORTGAGE COMPANY, LTD. 19 5.87% $3,393
    MidWestOne Bank 17 6.60% $2,533
    OPEN MORTGAGE, LLC 9 7.01% $7,300
    Lincoln Savings Bank 8 6.50% $2,608
    COMMUNITY 1ST CREDIT UNION 7 6.30% $2,441
    GUILD MORTGAGE COMPANY 6 6.50% $4,388
    PENNYMAC LOAN SERVICES, LLC 5 6.60% $5,256
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.50% $6,946
    CBI Bank & Trust 4 6.72% $2,263
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 7.28% $7,331
    BMO Harris Bank 4 6.31% $4,540
    CROSSCOUNTRY MORTGAGE, LLC 4 7.00% $4,622
    Deere Employees Credit Union 4 4.84% $3,452
    ROYAL UNITED MORTGAGE LLC 4 6.88% $5,544
    LOANDEPOT.COM, LLC 4 6.66% $7,811
    Servion, Inc. 4 6.81% $3,155
    JPMorgan Chase Bank 4 6.63% $1,975
    Bell Bank 3 6.29% $4,071
    PNC Bank 3 6.21% $3,247
    ZILLOW HOME LOANS, LLC 3 6.83% $4,522
    Farm Credit Mid-America, ACA 3 6.83% $6,119
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.16% $5,079
    Plains Commerce Bank 3 6.83% $3,021
    COMPASS MORTGAGE, INC. 2 6.25% $6,237
    CARDINAL FINANCIAL 2 6.19% $7,050
    Citizens Bank 2 6.44% $2,032
    DuTrac Community Credit Union 2 6.31% $2,733
    Fortress Bank 2 5.75% $2,842
    FREEDOM MORTGAGE CORPORATION 2 6.94% $4,544
    Heartland Bank and Trust Company 2 6.35% $2,249
    HOMESIDE FINANCIAL, LLC 2 7.69% $6,788
    Midwest Heritage Bank FSB 2 6.44% $2,664
    NAVY FEDERAL CREDIT UNION 2 6.94% $5,327
    HSBC BANK USA, NATIONAL ASSOCIATION 1 5.87% $3,322
    I. H. MISSISSIPPI VALLEY CREDIT UNION 1 6.88% $3,032
    HOMESERVICES LENDING, LLC 1 7.25% $3,754
    Ixonia Bank 1 6.63% $4,964
    JMAC LENDING, INC. 1 6.75% $4,123
    GUARANTEED RATE AFFINITY, LLC 1 6.88% $0
    KELLER MORTGAGE, LLC 1 5.99% $3,583
    GERSHMAN INVESTMENT CORP. 1 5.88% $3,284
    Flagstar Bank, FSB 1 7.50% $2,983
    First Interstate Bank 1 6.63% $2,543
    Luana Savings Bank 1 5.88% $3,535
    MEMBERS1st Community Credit Union 1 5.38% $3,642
    WRIGHT-PATT CREDIT UNION, INC. 1 6.25% $2,481
    Fifth Third Bank 1 6.25% $1,583
    Morgan Stanley Private Bank 1 5.35% $2,589
    Mortgage Research Center, LLC 1 6.75% $3,246
    MOVEMENT MORTGAGE, LLC 1 6.99% $3,470
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $5,994
    Nations Lending Corporation 1 7.13% $3,112
    Ally Bank 1 6.38% $2,674
    NEWREZ LLC 1 6.99% $6,132
    Northpointe Bank 1 6.88% $3,936
    EVERETT FINANCIAL, INC. 1 8.50% $3,702
    DIGITAL Federal Credit Union 1 5.50% $1,763
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.13% $2,930
    ALLIANT CREDIT UNION 1 6.63% $3,394
    CIBM Bank 1 7.38% $2,992
    PREMIA MORTGAGE, LLC 1 6.38% $0
    Central Bank 1 6.25% $2,581
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.13% $3,578
    Carrington Mortgage Services, LLC 1 6.63% $4,026
    RESIDENTIAL BANCORP 1 6.99% $5,195
    BOKF 1 8.00% $4,199
    Barrington Bank & Trust Company, N.A. 1 6.75% $3,754
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.50% $4,107
    Stifel Bank and Trust 1 6.00% $2,212
    SWBC MORTGAGE CORPORATION 1 7.13% $2,955
    The Federal Savings Bank 1 7.00% $2,672
    The Huntington National Bank 1 7.25% $1,958
    Truist 1 6.80% $1,988
    UBS Bank USA 1 5.50% $3,376
    United Bank of Iowa 1 7.88% $2,651
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $9,215
    AmeriHome Mortgage Company, LLC 1 8.38% $2,956
    American National Bank 1 6.38% $4,232
    AMERICAN FINANCING CORPORATION 1 6.99% $6,571
    AMCAP MORTGAGE, LTD. 1 6.38% $3,632
    West Gate Bank 1 6.75% $4,527
    HOMESTEAD FUNDING CORP. 1 5.88% $3,404
    HOMEXPRESS MORTGAGE CORP. 1 8.50% $6,947

    CEDAR RAPIDS Average Closing Costs & Other Stats

    CEDAR RAPIDS, IA's 103 lenders originated 7,202 loans during 2023. The total origination value was $1,118,330,000, with an average loan value of $155,280.

    CEDAR RAPIDS's average closing costs are $2,613.

    The top CEDAR RAPIDS lender as defined by loan originations is GREENSTATE CREDIT UNION, with 715 loans originated. Their average total fees are $1,939, which is $13 higher than the next largest lender, Hills Bank and Trust Company.

    The lowest fee CEDAR RAPIDS lenders (with over 10 loans originated) are Fidelity Bank & Trust ($1,827), Hills Bank and Trust Company ($1,926), GREENSTATE CREDIT UNION ($1,939), VERIDIAN CREDIT UNION ($1,947) and Bankers Trust Company ($1,994).

    The lowest rate CEDAR RAPIDS lenders (with over 10 loans originated) are Bankers Trust Company (4.90%), DHI MORTGAGE COMPANY, LTD. (5.87%), DUPACO COMMUNITY (6.09%), FIRST (6.17%) and IOWA BANKERS MORTGAGE CORPORATION (6.24%).

    CEDAR RAPIDS, 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
    Hills Bank and Trust Company $232,050,000 $227,335,000 -2.0% 20.3%
    GREENSTATE CREDIT UNION $371,860,000 $223,935,000 -39.8% 20.0%
    Collins Community Credit Union $154,140,000 $71,755,000 -53.4% 6.4%
    VERIDIAN CREDIT UNION $73,350,000 $46,290,000 -36.9% 4.1%
    Cedar Rapids Bank and Trust Company $65,745,000 $37,350,000 -43.2% 3.3%
    UNITED WHOLESALE MORTGAGE, LLC $33,505,000 $31,760,000 -5.2% 2.8%
    DUPACO COMMUNITY $38,770,000 $29,175,000 -24.7% 2.6%
    Ohnward Bank & Trust $33,480,000 $27,865,000 -16.8% 2.5%
    RESIDENTIAL MORTGAGE NETWORK, INC. $13,995,000 $20,025,000 43.1% 1.8%
    QUICKEN LOANS, LLC $32,260,000 $19,135,000 -40.7% 1.7%
    LINN AREA $41,910,000 $18,825,000 -55.1% 1.7%
    BROKER SOLUTIONS, INC. $16,950,000 $18,560,000 9.5% 1.7%
    Farmers State Bank $14,170,000 $18,005,000 27.1% 1.6%
    IOWA BANKERS MORTGAGE CORPORATION $24,420,000 $17,735,000 -27.4% 1.6%
    Mount Vernon Bank and Trust Company $25,160,000 $15,190,000 -39.6% 1.4%
    FLAT BRANCH MORTGAGE, INC. $14,860,000 n/a 1.3%
    U.S. Bank $36,065,000 $14,705,000 -59.2% 1.3%
    FIRST $30,195,000 $14,115,000 -53.3% 1.3%
    Community Savings Bank $15,400,000 $13,220,000 -14.2% 1.2%
    Central Bank $550,000 $12,530,000 2,178.2% 1.1%
    Bankers Trust Company $27,725,000 $10,765,000 -61.2% 1.0%
    OPEN MORTGAGE, LLC $12,070,000 $10,675,000 -11.6% 1.0%
    Mortgage Research Center, LLC $13,800,000 $10,220,000 -25.9% 0.9%
    CEDAR VALLEY BANK & TRUST $9,965,000 n/a 0.9%
    BankIowa of Cedar Rapids $18,520,000 $9,715,000 -47.5% 0.9%
    DHI MORTGAGE COMPANY, LTD. $945,000 $9,310,000 885.2% 0.8%
    Wells Fargo Bank $22,555,000 $8,770,000 -61.1% 0.8%
    MidWestOne Bank $9,125,000 $7,480,000 -18.0% 0.7%
    Farmers & Merchants Savings Bank $9,420,000 $6,500,000 -31.0% 0.6%
    Waterstone Mortgage Corporation $10,845,000 $6,160,000 -43.2% 0.6%
    Centier Bank $50,000 $5,490,000 10,880.0% 0.5%
    Hiawatha Bank and Trust $5,320,000 n/a 0.5%
    Fidelity Bank & Trust $8,230,000 $5,290,000 -35.7% 0.5%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $4,690,000 n/a 0.4%
    GUILD MORTGAGE COMPANY $2,715,000 $4,420,000 62.8% 0.4%
    Citizens State Bank $9,240,000 $3,745,000 -59.5% 0.3%
    TOWNE MORTGAGE COMPANY $935,000 $3,485,000 272.7% 0.3%
    Fairfax State Savings Bank $3,065,000 n/a 0.3%
    COMMUNITY 1ST CREDIT UNION $3,330,000 $2,785,000 -16.4% 0.2%
    BMO Harris Bank $1,000,000 $2,735,000 173.5% 0.2%
    PENNYMAC LOAN SERVICES, LLC $5,080,000 $2,620,000 -48.4% 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $1,305,000 $2,610,000 100.0% 0.2%
    FREEDOM MORTGAGE CORPORATION $5,890,000 $2,610,000 -55.7% 0.2%
    Servion, Inc. $4,990,000 $2,610,000 -47.7% 0.2%
    HOMESERVICES LENDING, LLC $3,600,000 $2,595,000 -27.9% 0.2%
    CARDINAL FINANCIAL $3,020,000 $2,400,000 -20.5% 0.2%
    Lincoln Savings Bank $1,300,000 $2,185,000 68.1% 0.2%
    LOANDEPOT.COM, LLC $4,985,000 $2,145,000 -57.0% 0.2%
    Plains Commerce Bank $745,000 $2,050,000 175.2% 0.2%
    Bridge Community Bank $1,945,000 n/a 0.2%
    Farm Credit Mid-America, ACA $1,545,000 $1,865,000 20.7% 0.2%
    NAVY FEDERAL CREDIT UNION $2,010,000 $1,800,000 -10.4% 0.2%
    CBI Bank & Trust $1,790,000 $1,770,000 -1.1% 0.2%
    Farmers Savings Bank & Trust $1,720,000 n/a 0.2%
    Deere Employees Credit Union $1,580,000 $1,610,000 1.9% 0.1%
    The Federal Savings Bank $500,000 $1,590,000 218.0% 0.1%
    NEWREZ LLC $2,785,000 $1,565,000 -43.8% 0.1%
    Washington State Bank $2,895,000 $1,530,000 -47.2% 0.1%
    Chelsea Savings Bank $1,475,000 n/a 0.1%
    Ally Bank $1,040,000 $1,335,000 28.4% 0.1%
    21ST MORTGAGE CORPORATION $225,000 $1,330,000 491.1% 0.1%
    Kerndt Brothers Savings Bank $2,375,000 $1,330,000 -44.0% 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $145,000 $1,295,000 793.1% 0.1%
    AMERISAVE MORTGAGE CORPORATION $3,760,000 $1,250,000 -66.8% 0.1%
    JPMorgan Chase Bank $3,160,000 $1,110,000 -64.9% 0.1%
    PNC Bank $540,000 $1,050,000 94.4% 0.1%
    USAA Federal Savings Bank $2,650,000 $1,045,000 -60.6% 0.1%
    ROYAL UNITED MORTGAGE LLC $265,000 $1,005,000 279.2% 0.1%
    HOMESIDE FINANCIAL, LLC $990,000 $955,000 -3.5% 0.1%
    Barrington Bank & Trust Company, N.A. $880,000 $910,000 3.4% 0.1%
    GUARANTEED RATE AFFINITY, LLC $420,000 $860,000 104.8% 0.1%
    Midwest Heritage Bank FSB $350,000 $830,000 137.1% 0.1%
    Carrington Mortgage Services, LLC $3,310,000 $815,000 -75.4% 0.1%
    Bell Bank $370,000 $725,000 95.9% 0.1%
    HOMESTEAD FUNDING CORP. $725,000 n/a 0.1%
    Morgan Stanley Private Bank $515,000 $725,000 40.8% 0.1%
    Figure Lending LLC $530,000 $710,000 34.0% 0.1%
    AMERICAN FINANCIAL NETWORK, INC. $705,000 n/a 0.1%
    The Huntington National Bank $690,000 n/a 0.1%
    Citizens Bank $4,295,000 $685,000 -84.1% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $1,085,000 $665,000 -38.7% 0.1%
    Northpointe Bank $395,000 $665,000 68.4% 0.1%
    AMERICAN FINANCING CORPORATION $1,145,000 $635,000 -44.5% 0.1%
    DuTrac Community Credit Union $2,545,000 $625,000 -75.4% 0.1%
    Mr. Cooper ( Nationstar Mortgage ) $5,390,000 $625,000 -88.4% 0.1%
    AMCAP MORTGAGE, LTD. $1,360,000 $585,000 -57.0% 0.1%
    ALLIANT $4,235,000 $580,000 -86.3% 0.1%
    AIR ACADEMY $575,000 n/a 0.1%
    COMPASS MORTGAGE, INC. $115,000 $555,000 382.6% 0.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,045,000 $540,000 -73.6% 0.0%
    AmeriHome Mortgage Company, LLC $205,000 $530,000 158.5% 0.0%
    BANKORION $215,000 $530,000 146.5% 0.0%
    GNB Bank $1,025,000 $520,000 -49.3% 0.0%
    Ixonia Bank $505,000 n/a 0.0%
    Luana Savings Bank $975,000 $505,000 -48.2% 0.0%
    EVERETT FINANCIAL, INC. $555,000 $500,000 -9.9% 0.0%
    GERSHMAN INVESTMENT CORP. $485,000 n/a 0.0%
    GUARANTEED RATE, INC. $1,215,000 $455,000 -62.6% 0.0%
    ZILLOW HOME LOANS, LLC $275,000 $455,000 65.5% 0.0%
    TRIAD FINANCIAL SERVICES, INC. $495,000 $450,000 -9.1% 0.0%
    GREATER IOWA CREDIT UNION $145,000 $445,000 206.9% 0.0%
    Paramount Residential Mortgage Group, Inc. $445,000 n/a 0.0%
    PLAZA HOME MORTGAGE, INC. $125,000 $445,000 256.0% 0.0%
    KELLER MORTGAGE, LLC $175,000 $440,000 151.4% 0.0%
    CHURCHILL MORTGAGE CORPORATION $630,000 $430,000 -31.7% 0.0%
    GENEVA FINANCIAL, LLC $235,000 $430,000 83.0% 0.0%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $185,000 $430,000 132.4% 0.0%
    PREMIA MORTGAGE, LLC $425,000 n/a 0.0%
    HSBC BANK USA, NATIONAL ASSOCIATION $395,000 n/a 0.0%
    Northeast Security Bank $395,000 n/a 0.0%
    First Interstate Bank $55,000 $375,000 581.8% 0.0%
    MOVEMENT MORTGAGE, LLC $1,430,000 $375,000 -73.8% 0.0%
    NATIONWIDE MORTGAGE BANKERS, INC. $240,000 $375,000 56.3% 0.0%
    First Savings Bank $365,000 n/a 0.0%
    M&T Bank $135,000 $365,000 170.4% 0.0%
    Coastal Community Bank $355,000 n/a 0.0%
    Keystone Savings Bank $995,000 $355,000 -64.3% 0.0%
    TJC Mortgage, Inc. $355,000 n/a 0.0%
    The Readlyn Savings Bank $350,000 n/a 0.0%
    DIGITAL Federal Credit Union $345,000 n/a 0.0%
    UNIVERSAL LENDING CORPORATION $2,400,000 $340,000 -85.8% 0.0%
    First Federal Bank $335,000 n/a 0.0%
    UBS Bank USA $305,000 n/a 0.0%
    EMM LOANS LLC $300,000 n/a 0.0%
    PLANET HOME LENDING, LLC $295,000 n/a 0.0%
    FINANCE OF AMERICA REVERSE LLC $290,000 n/a 0.0%
    Fortress Bank $625,000 $290,000 -53.6% 0.0%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $775,000 $280,000 -63.9% 0.0%
    HOMEXPRESS MORTGAGE CORP. $280,000 n/a 0.0%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $660,000 $280,000 -57.6% 0.0%
    Stifel Bank and Trust $255,000 $275,000 7.8% 0.0%
    American Mortgage & Equity Consultants, Inc. $265,000 n/a 0.0%
    Flagstar Bank, FSB $2,110,000 $265,000 -87.4% 0.0%
    SWBC MORTGAGE CORPORATION $265,000 n/a 0.0%
    West Gate Bank $260,000 $265,000 1.9% 0.0%
    POLARIS HOME FUNDING CORP. $260,000 n/a 0.0%
    American National Bank $255,000 n/a 0.0%
    Farmers National Bank $255,000 n/a 0.0%
    Heartland Bank and Trust Company $830,000 $255,000 -69.3% 0.0%
    Magnolia Bank $245,000 $255,000 4.1% 0.0%
    United Bank of Iowa $235,000 n/a 0.0%
    NEW DAY FINANCIAL, LLC $1,495,000 $230,000 -84.6% 0.0%
    BOKF $155,000 $205,000 32.3% 0.0%
    CIBM Bank $205,000 n/a 0.0%
    American State Bank $195,000 n/a 0.0%
    LIBERTY HOME MORTGAGE CORPORATION $165,000 $195,000 18.2% 0.0%
    Century Mortgage Company DBA Century Lending Company $185,000 n/a 0.0%
    Equity Prime Mortgage LLC $1,330,000 $185,000 -86.1% 0.0%
    Regions Bank $805,000 $185,000 -77.0% 0.0%
    RESIDENTIAL BANCORP $185,000 n/a 0.0%
    Bank of the West $3,045,000 $175,000 -94.3% 0.0%
    LAKEVIEW LOAN SERVICING, LLC $1,615,000 $175,000 -89.2% 0.0%
    Nations Lending Corporation $115,000 $175,000 52.2% 0.0%
    THOMPSON KANE & COMPANY, LLC $1,440,000 $175,000 -87.8% 0.0%
    Fifth Third Bank $165,000 n/a 0.0%
    Bank of America $1,815,000 $160,000 -91.2% 0.0%
    CALIBER HOME LOANS, INC. $935,000 $155,000 -83.4% 0.0%
    NATIONS RELIABLE LENDING, LLC $225,000 $155,000 -31.1% 0.0%
    CMG MORTGAGE, INC. $660,000 $150,000 -77.3% 0.0%
    MEMBERS1st Community Credit Union $130,000 $145,000 11.5% 0.0%
    Truist $35,000 $145,000 314.3% 0.0%
    VILLAGE CAPITAL MORTGAGE $1,160,000 $145,000 -87.5% 0.0%
    Denver Savings Bank $135,000 n/a 0.0%
    Farmers State Bank $14,170,000 $135,000 -99.0% 0.0%
    JMAC LENDING, INC. $135,000 n/a 0.0%
    Central State Bank $2,370,000 $130,000 -94.5% 0.0%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $385,000 $125,000 -67.5% 0.0%
    CITY FIRST MORTGAGE SERVICES, L.L.C. $115,000 n/a 0.0%
    ALLIANT CREDIT UNION $105,000 n/a 0.0%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $95,000 n/a 0.0%
    PENTAGON FEDERAL CREDIT UNION $195,000 $95,000 -51.3% 0.0%
    Raccoon Valley Bank $95,000 n/a 0.0%
    MARINE $445,000 $90,000 -79.8% 0.0%
    WRIGHT-PATT CREDIT UNION, INC. $85,000 n/a 0.0%
    Community State Bank $65,000 n/a 0.0%
    MAYO EMPLOYEES FEDERAL CREDIT UNION $65,000 n/a 0.0%
    SPRING EQ, LLC $130,000 $65,000 -50.0% 0.0%
    STAR USA FEDERAL CREDIT UNION $65,000 n/a 0.0%
    Grinnell State Bank $55,000 n/a 0.0%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $485,000 $55,000 -88.7% 0.0%
    Mound City Bank $55,000 n/a 0.0%
    CEDAR FALLS COMMUNITY CREDIT UNION $285,000 $35,000 -87.7% 0.0%
    Think Mutual Bank $35,000 n/a 0.0%
    CREDIT HUMAN FEDERAL CREDIT UNION $255,000 $25,000 -90.2% 0.0%
    Northwest Bank $445,000 $25,000 -94.4% 0.0%
    Third Federal Savings and Loan Association of Cleveland $25,000 n/a 0.0%

    CEDAR RAPIDS's top lender by overall market share is Hills Bank and Trust Company, with 20.3% market share. In second place, with 20.0%, is GREENSTATE CREDIT UNION, having originated $223,935,000 in loans. In third place, with 6.4%, is Collins Community Credit Union, having originated $71,755,000 in loans. In fourth place, with 4.1%, is VERIDIAN CREDIT UNION, having originated $46,290,000 in loans. In fifth place, with 3.3%, is Cedar Rapids Bank and Trust Company, having originated $37,350,000 in loans.

    CEDAR RAPIDS, IA Average Rent (2023)

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    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    52202 Cedar Rapids, IA HUD Metro FMR Area $600 $680 $890 $1,270 $1,510
    52205 Cedar Rapids, IA HUD Metro FMR Area $600 $680 $890 $1,190 $1,230
    52213 Cedar Rapids, IA HUD Metro FMR Area $740 $840 $1,100 $1,560 $1,850
    52214 Cedar Rapids, IA HUD Metro FMR Area $530 $600 $800 $1,130 $1,350
    52218 Cedar Rapids, IA HUD Metro FMR Area $530 $600 $800 $1,130 $1,350
    52219 Cedar Rapids, IA HUD Metro FMR Area $530 $600 $800 $1,130 $1,350
    52227 Cedar Rapids, IA HUD Metro FMR Area $690 $770 $960 $1,360 $1,640
    52228 Cedar Rapids, IA HUD Metro FMR Area $920 $1,050 $1,380 $1,960 $2,350
    52233 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52253 Cedar Rapids, IA HUD Metro FMR Area $690 $770 $960 $1,360 $1,640
    52302 Cedar Rapids, IA HUD Metro FMR Area $570 $650 $850 $1,210 $1,450
    52305 Cedar Rapids, IA HUD Metro FMR Area $530 $600 $800 $1,060 $1,230
    52310 Cedar Rapids, IA HUD Metro FMR Area $530 $600 $800 $1,060 $1,230
    52314 Cedar Rapids, IA HUD Metro FMR Area $690 $770 $960 $1,360 $1,640
    52324 Cedar Rapids, IA HUD Metro FMR Area $850 $960 $1,260 $1,780 $2,120
    52328 Cedar Rapids, IA HUD Metro FMR Area $920 $1,050 $1,380 $1,960 $2,350
    52332 Cedar Rapids, IA HUD Metro FMR Area $680 $680 $900 $1,210 $1,280
    52333 Cedar Rapids, IA HUD Metro FMR Area $690 $780 $960 $1,360 $1,640
    52336 Cedar Rapids, IA HUD Metro FMR Area $630 $710 $940 $1,340 $1,600
    52338 Cedar Rapids, IA HUD Metro FMR Area $690 $770 $960 $1,360 $1,640
    52341 Cedar Rapids, IA HUD Metro FMR Area $710 $810 $1,060 $1,510 $1,790
    52344 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52351 Cedar Rapids, IA HUD Metro FMR Area $580 $600 $800 $1,090 $1,230
    52352 Cedar Rapids, IA HUD Metro FMR Area $540 $600 $800 $1,120 $1,320
    52401 Cedar Rapids, IA HUD Metro FMR Area $550 $630 $830 $1,180 $1,410
    52402 Cedar Rapids, IA HUD Metro FMR Area $670 $760 $1,000 $1,420 $1,700
    52403 Cedar Rapids, IA HUD Metro FMR Area $600 $680 $890 $1,260 $1,520
    52404 Cedar Rapids, IA HUD Metro FMR Area $690 $770 $960 $1,360 $1,640
    52405 Cedar Rapids, IA HUD Metro FMR Area $700 $790 $1,040 $1,480 $1,770
    52406 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52408 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52409 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52410 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570
    52411 Cedar Rapids, IA HUD Metro FMR Area $760 $860 $1,130 $1,600 $1,910
    52498 Cedar Rapids, IA HUD Metro FMR Area $620 $700 $920 $1,310 $1,570

    2022 Average & Median Rent Data Statistics
    CEDAR RAPIDS, IA average 1BR rent: $730, median: $700
    CEDAR RAPIDS, IA average 2BR rent: $953, median: $920
    CEDAR RAPIDS, IA average 3BR rent: $1,342, median: $1,310

    CEDAR RAPIDS, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 4,448 $841,770,000 $189,247
    Refi 740 $112,790,000 $152,419
    Home Improvement 727 $51,435,000 $70,750
    Other 680 $42,390,000 $62,338
    Cash Out Refi 607 $69,945,000 $115,231

    Cedar Rapids's most frequently cited loan purpose was Home Purchase, with 4,448 originations. The 2nd most popular reason was Refi, with 740 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 2,417 $436,075,000 $180,420
    7-8% 1,594 $212,730,000 $133,457
    5-6% 1,161 $232,805,000 $200,521
    Over 8% 1,100 $72,110,000 $65,555
    <2.5% 70 $2,100,000 $30,000
    4-5% 59 $12,115,000 $205,339
    3-4% 34 $19,220,000 $565,294
    2.5-3% 8 $970,000 $121,250

    During 2023, Cedar Rapids's most frequently originated rate bucket was 6-7%, with 2,417 originations.

    Loan Sizing (CEDAR RAPIDS, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 3,036 $143,360,000 $47,220
    $100k-200k 2,452 $361,780,000 $147,545
    $200k-400k 1,442 $390,410,000 $270,742
    $400k-600k 186 $87,400,000 $469,892
    $600k-1000k 55 $38,405,000 $698,273
    $Over $1MM 31 $96,975,000 $3,128,226

    CEDAR RAPIDS's loan sizing saw the bucket of loans from $100,000 or less with 3,036 originations, totaling $143,360,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 2,301 $501,835,000 $218,094
    Under 20% 1,396 $46,030,000 $32,973
    60-80% 1,263 $261,265,000 $206,861
    20-40% 936 $78,100,000 $83,440
    40-60% 439 $77,685,000 $176,959
    Over 100% 41 $10,785,000 $263,049

    CEDAR RAPIDS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,301 originations, totaling $501,835,000 in origination value.