Clinton Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Clinton averaged
6.81%
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
6.54% and
one month ago for the week of 2024-10-03, the
average rate was 5.84%.
Clinton's average rate one year ago was 7.68%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Clinton 30 Year Fixed Rate | 2024-11-07 | 6.81% |
| Clinton 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Clinton 15 Year Fixed Rate | 2024-11-07 | 6.1% |
| Clinton 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Clinton 30 Year FHA | 2024-11-07 | 6.71% |
| Clinton 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Clinton 30 Year USDA | 2024-11-07 | 6.28% |
| Clinton 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Clinton 30 Year VA | 2024-11-07 | 6.24% |
| Clinton 30 Year VA Refi | 2024-11-07 | 6.24% |
Clinton 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 Clinton, 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.).
Clinton Average Closing Costs & Other Stats
Clinton, IA's 44 lenders originated 591
loans during 2023. The total origination value was $74,565,000, with an average loan value of
$126,168.
Clinton's average closing costs are $3,492.
The top Clinton lender as defined by loan originations is U.S. Bank, with
37 loans originated. Their average total fees are
$3,246, which is $1,056
higher than the next largest lender,
ASCENTRA.
The lowest fee Clinton lenders (with over 10 loans originated) are
GREENSTATE CREDIT UNION ($2,159), ASCENTRA ($2,190), U.S. Bank ($3,246), .
The lowest rate Clinton lenders (with over 10 loans originated) are
ASCENTRA (6.13%), GREENSTATE CREDIT UNION (6.41%), U.S. Bank (7.26%), .
Clinton, 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 |
|---|---|---|---|---|
| First Central State Bank | $16,450,000 | $10,715,000 | -34.9% | 14.4% |
| ASCENTRA | $10,635,000 | $6,675,000 | -37.2% | 9.0% |
| U.S. Bank | $10,840,000 | $5,765,000 | -46.8% | 7.7% |
| GREENSTATE CREDIT UNION | $8,870,000 | $5,685,000 | -35.9% | 7.6% |
| BROKER SOLUTIONS, INC. | $11,470,000 | $5,605,000 | -51.1% | 7.5% |
| HOMESIDE FINANCIAL, LLC | $8,295,000 | $4,555,000 | -45.1% | 6.1% |
| QUICKEN LOANS, LLC | $5,355,000 | $3,805,000 | -28.9% | 5.1% |
| DuTrac Community Credit Union | $2,060,000 | $2,625,000 | 27.4% | 3.5% |
| IOWA BANKERS MORTGAGE CORPORATION | $3,215,000 | $1,710,000 | -46.8% | 2.3% |
| RUHL MORTGAGE, LLC | $1,975,000 | $1,705,000 | -13.7% | 2.3% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $3,290,000 | $1,685,000 | -48.8% | 2.3% |
| Mortgage Research Center, LLC | $4,790,000 | $1,595,000 | -66.7% | 2.1% |
| Collins Community Credit Union | $2,460,000 | $1,390,000 | -43.5% | 1.9% |
| SENB Bank | $2,715,000 | $1,355,000 | -50.1% | 1.8% |
| Plains Commerce Bank | $1,145,000 | $1,300,000 | 13.5% | 1.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $125,000 | $1,240,000 | 892.0% | 1.7% |
| American Bank and Trust Company | $1,145,000 | $970,000 | -15.3% | 1.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $235,000 | $950,000 | 304.3% | 1.3% |
| DUPACO COMMUNITY | $1,625,000 | $810,000 | -50.2% | 1.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $965,000 | $725,000 | -24.9% | 1.0% |
| Deere Employees Credit Union | $2,090,000 | $675,000 | -67.7% | 0.9% |
| West Gate Bank | $645,000 | n/a | 0.9% | |
| PREMIA MORTGAGE, LLC | $165,000 | $520,000 | 215.2% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $1,350,000 | $510,000 | -62.2% | 0.7% |
| Farm Credit Mid-America, ACA | $1,675,000 | $440,000 | -73.7% | 0.6% |
| Servion, Inc. | $430,000 | n/a | 0.6% | |
| LOANDEPOT.COM, LLC | $940,000 | $405,000 | -56.9% | 0.5% |
| Flanagan State Bank | $380,000 | n/a | 0.5% | |
| Coastal Community Bank | $365,000 | n/a | 0.5% | |
| ZILLOW HOME LOANS, LLC | $350,000 | n/a | 0.5% | |
| CARDINAL FINANCIAL | $1,330,000 | $325,000 | -75.6% | 0.4% |
| GUARANTEED RATE AFFINITY, LLC | $305,000 | n/a | 0.4% | |
| Wells Fargo Bank | $1,290,000 | $305,000 | -76.4% | 0.4% |
| ENDEAVOR CAPITAL, LLC. | $300,000 | n/a | 0.4% | |
| NEWREZ LLC | $655,000 | $300,000 | -54.2% | 0.4% |
| THE FAMILY CREDIT UNION | $870,000 | $295,000 | -66.1% | 0.4% |
| Barrington Bank & Trust Company, N.A. | $280,000 | $280,000 | 0.0% | 0.4% |
| Flagstar Bank, FSB | $305,000 | $255,000 | -16.4% | 0.3% |
| Frandsen Bank & Trust | $75,000 | $255,000 | 240.0% | 0.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $410,000 | $255,000 | -37.8% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $465,000 | $250,000 | -46.2% | 0.3% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $250,000 | n/a | 0.3% | |
| NBKC BANK | $250,000 | n/a | 0.3% | |
| AmeriHome Mortgage Company, LLC | $245,000 | n/a | 0.3% | |
| American Mortgage & Equity Consultants, Inc. | $240,000 | n/a | 0.3% | |
| VERIDIAN CREDIT UNION | $1,160,000 | $240,000 | -79.3% | 0.3% |
| Central Bank Illinois | $1,480,000 | $225,000 | -84.8% | 0.3% |
| USAA Federal Savings Bank | $305,000 | $225,000 | -26.2% | 0.3% |
| Fortress Bank | $220,000 | n/a | 0.3% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $145,000 | $215,000 | 48.3% | 0.3% |
| Fairfax State Savings Bank | $195,000 | n/a | 0.3% | |
| JPMorgan Chase Bank | $275,000 | $185,000 | -32.7% | 0.2% |
| CHURCHILL MORTGAGE CORPORATION | $175,000 | n/a | 0.2% | |
| GUARANTEED RATE, INC. | $885,000 | $175,000 | -80.2% | 0.2% |
| Bank of America | $95,000 | $170,000 | 78.9% | 0.2% |
| GUILD MORTGAGE COMPANY | $95,000 | $165,000 | 73.7% | 0.2% |
| Fidelity Bank & Trust | $485,000 | $160,000 | -67.0% | 0.2% |
| R.I.A. Federal Credit Union | $495,000 | $155,000 | -68.7% | 0.2% |
| Access Bank | $145,000 | n/a | 0.2% | |
| Quad City Bank and Trust Company | $105,000 | $145,000 | 38.1% | 0.2% |
| RESIDENTIAL MORTGAGE NETWORK, INC. | $595,000 | $145,000 | -75.6% | 0.2% |
| NEW DAY FINANCIAL, LLC | $325,000 | $135,000 | -58.5% | 0.2% |
| ALLIANT | $55,000 | $125,000 | 127.3% | 0.2% |
| FIRST MORTGAGE COMPANY, INC. | $125,000 | n/a | 0.2% | |
| FREEDOM MORTGAGE CORPORATION | $270,000 | $125,000 | -53.7% | 0.2% |
| BNC National Bank | $260,000 | $105,000 | -59.6% | 0.1% |
| Community Choice Credit Union | $105,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $95,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $130,000 | $85,000 | -34.6% | 0.1% |
| Hills Bank and Trust Company | $85,000 | n/a | 0.1% | |
| Holcomb Bank | $85,000 | n/a | 0.1% | |
| Old National Bank | $85,000 | n/a | 0.1% | |
| TBK BANK, SSB | $55,000 | $85,000 | 54.5% | 0.1% |
| LINN AREA | $85,000 | $80,000 | -5.9% | 0.1% |
| Merchants Bank | $75,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $75,000 | n/a | 0.1% | |
| Bank of England | $65,000 | n/a | 0.1% | |
| Blackhawk Bank & Trust | $150,000 | $65,000 | -56.7% | 0.1% |
| Figure Lending LLC | $65,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $55,000 | n/a | 0.1% | |
| Farmers National Bank | $55,000 | n/a | 0.1% | |
| CALIBER HOME LOANS, INC. | $1,260,000 | $45,000 | -96.4% | 0.1% |
| BMO Harris Bank | $35,000 | n/a | 0.0% | |
| CBI Bank & Trust | $215,000 | $25,000 | -88.4% | 0.0% |
| MidWestOne Bank | $610,000 | $25,000 | -95.9% | 0.0% |
| Ohnward Bank & Trust | $250,000 | $25,000 | -90.0% | 0.0% |
Clinton's top lender by overall market share is First Central State Bank, with 14.4% market share. In second place, with 9.0%, is ASCENTRA, having originated $6,675,000 in loans. In third place, with 7.7%, is U.S. Bank, having originated $5,765,000 in loans. In fourth place, with 7.6%, is GREENSTATE CREDIT UNION, having originated $5,685,000 in loans. In fifth place, with 7.5%, is BROKER SOLUTIONS, INC., having originated $5,605,000 in loans.
Clinton, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 375 | $57,555,000 | $153,480 |
| Cash Out Refi | 65 | $7,045,000 | $108,385 |
| Other | 59 | $2,245,000 | $38,051 |
| Refi | 57 | $5,885,000 | $103,246 |
| Home Improvement | 35 | $1,835,000 | $52,429 |
Clinton's most frequently cited loan purpose was Home Purchase, with 375 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 202 | $28,480,000 | $140,990 |
| 7-8% | 129 | $16,145,000 | $125,155 |
| 5-6% | 81 | $12,405,000 | $153,148 |
| Over 8% | 61 | $3,465,000 | $56,803 |
| 4-5% | 6 | $1,220,000 | $203,333 |
| <2.5% | 5 | $25,000 | $5,000 |
During 2023, Clinton's most frequently originated rate bucket was 6-7%, with 202 originations.
Loan Sizing (Clinton, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 283 | $14,815,000 | $52,350 |
| $100k-200k | 209 | $30,125,000 | $144,139 |
| $200k-400k | 82 | $21,210,000 | $258,659 |
| $400k-600k | 13 | $5,815,000 | $447,308 |
| $600k-1000k | 4 | $2,600,000 | $650,000 |
Clinton's loan sizing saw the bucket of loans from $100,000 or less with 283 originations, totaling $14,815,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 238 | $39,230,000 | $164,832 |
| 60-80% | 91 | $13,575,000 | $149,176 |
| Under 20% | 62 | $2,040,000 | $32,903 |
| 20-40% | 52 | $2,790,000 | $53,654 |
| 40-60% | 30 | $2,510,000 | $83,667 |
| Over 100% | 5 | $1,185,000 | $237,000 |
Clinton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 238 originations, totaling $39,230,000 in origination value.