Clinton 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 Clinton averaged 6.39% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

    The average rate for the prior week (2023-09-07) was 6.43% and one month ago for the week of 2023-08-10, the average rate was 6.37%.

    Clinton's average rate one year ago was 5.2%.

    For refis of the same type during the week of 2023-09-14, the average rate was 7.28%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-14 7.18%
    Clinton 30 Year Fixed Rate 2023-09-14 6.39%
    Clinton 30 Year Fixed Rate Refi 2023-09-14 7.28%
    Clinton 15 Year Fixed Rate 2023-09-14 6.71%
    Clinton 15 Year Fixed Rate Refi 2023-09-14 6.41%
    Clinton 30 Year FHA 2023-09-14 6.73%
    Clinton 30 Year FHA Refi 2023-09-14 6.89%
    Clinton 30 Year USDA 2023-09-14 7.18%
    Clinton 30 Year USDA Refi 2023-09-14 6.98%
    Clinton 30 Year VA 2023-09-14 7.01%
    Clinton 30 Year VA Refi 2023-09-14 6.91%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Clinton, IA.

    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.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    ASCENTRA 60 4.19% $2,061
    U.S. Bank 39 5.41% $3,497
    GREENSTATE CREDIT UNION 37 4.28% $1,957
    HOMESIDE FINANCIAL, LLC 23 5.08% $3,741
    BROKER SOLUTIONS, INC. 21 5.01% $5,149
    I. H. MISSISSIPPI VALLEY CREDIT UNION 12 3.70% $1,692
    QUICKEN LOANS, LLC 12 4.71% $5,029
    Vibrant Credit Union 12 4.72% $2,137
    Collins Community Credit Union 10 4.46% $2,175
    RUHL MORTGAGE, LLC 7 5.38% $2,214
    IOWA BANKERS MORTGAGE CORPORATION 7 4.36% $2,295
    Deere Employees Credit Union 7 3.32% $2,382
    DuTrac Community Credit Union 6 3.88% $2,022
    DUPACO COMMUNITY 3 4.83% $2,765
    Wells Fargo Bank 3 3.96% $2,749
    THE FAMILY CREDIT UNION 3 3.75% $1,949
    R.I.A. Federal Credit Union 3 3.92% $2,137
    JPMorgan Chase Bank 3 7.00% $3,024
    VERIDIAN CREDIT UNION 3 3.83% $1,679
    American Bank and Trust Company 3 4.91% $2,519
    CARDINAL FINANCIAL 3 6.13% $5,909
    CALIBER HOME LOANS, INC. 3 5.21% $3,239
    The Huntington National Bank 3 3.63% $4,749
    LOANDEPOT.COM, LLC 2 4.19% $4,699
    AMERISAVE MORTGAGE CORPORATION 2 4.81% $7,682
    Associated Bank 2 4.13% $2,499
    Community Mortgage Banc Corporation 2 4.50% $2,462
    Farm Credit Mid-America, ACA 2 5.64% $6,239
    MidWestOne Bank 2 4.25% $2,196
    NAVY FEDERAL CREDIT UNION 2 6.50% $3,093
    SENB Bank 2 3.38% $1,298
    GERSHMAN INVESTMENT CORP. 1 4.00% $2,887
    Midwest Heritage Bank FSB 1 3.88% $2,421
    BNC National Bank 1 3.50% $2,845
    Mr. Cooper ( Nationstar Mortgage ) 1 5.13% $4,164
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $3,907
    Bank Iowa 1 3.38% $1,823
    NEWREZ LLC 1 5.50% $4,286
    Plains Commerce Bank 1 4.63% $2,948
    Flagstar Bank, FSB 1 4.25% $4,371
    First PREMIER Bank 1 2.88% $3,155
    FINANCE OF AMERICA MORTGAGE LLC 1 2.99% $2,235
    Wyndham Capital Mortgage, Inc. 1 3.88% $4,847
    Fidelity Bank & Trust 1 5.30% $1,408
    DRAPER AND KRAMER MORTGAGE CORP. 1 3.63% $2,934
    UNITED WHOLESALE MORTGAGE, LLC 1 3.50% $7,999
    Central Bank Illinois 1 6.00% $1,175
    Carrington Mortgage Services, LLC 1 5.88% $5,224
    HIWAY 1 7.00% $3,058
    KELLER MORTGAGE, LLC 1 5.63% $3,046
    LINN AREA 1 3.25% $1,870

    Clinton Average Closing Costs & Other Stats

    Clinton, IA's 51 lenders originated 969 loans during 2022. The total origination value was $141,385,000, with an average loan value of $145,908.

    Clinton's average closing costs are $3,399.

    The top Clinton lender as defined by loan originations is ASCENTRA, with 60 loans originated. Their average total fees are $2,061, which is $1,437 lower than the next largest lender, U.S. Bank.

    The lowest fee Clinton lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION ($1,692), GREENSTATE CREDIT UNION ($1,957), ASCENTRA ($2,061), Vibrant Credit Union ($2,137) and Collins Community Credit Union ($2,175).

    The lowest rate Clinton lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION (3.70%), ASCENTRA (4.19%), GREENSTATE CREDIT UNION (4.28%), Collins Community Credit Union (4.46%) and QUICKEN LOANS, LLC (4.71%).

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    First Central State Bank $24,905,000 $16,450,000 -33.9% 11.6%
    BROKER SOLUTIONS, INC. $13,470,000 $11,470,000 -14.8% 8.1%
    U.S. Bank $10,865,000 $10,840,000 -0.2% 7.7%
    ASCENTRA $11,970,000 $10,635,000 -11.2% 7.5%
    GREENSTATE CREDIT UNION $13,340,000 $8,870,000 -33.5% 6.3%
    HOMESIDE FINANCIAL, LLC $12,055,000 $8,295,000 -31.2% 5.9%
    BANKORION $105,000 $7,105,000 6,666.7% 5.0%
    QUICKEN LOANS, LLC $11,020,000 $5,355,000 -51.4% 3.8%
    Mortgage Research Center, LLC $2,080,000 $4,790,000 130.3% 3.4%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $5,880,000 $3,290,000 -44.0% 2.3%
    IOWA BANKERS MORTGAGE CORPORATION $11,445,000 $3,215,000 -71.9% 2.3%
    Vibrant Credit Union $2,890,000 $3,030,000 4.8% 2.1%
    SENB Bank $690,000 $2,715,000 293.5% 1.9%
    Collins Community Credit Union $1,175,000 $2,460,000 109.4% 1.7%
    Landmark Credit Union $2,370,000 n/a 1.7%
    Deere Employees Credit Union $2,405,000 $2,090,000 -13.1% 1.5%
    DuTrac Community Credit Union $3,605,000 $2,060,000 -42.9% 1.5%
    RUHL MORTGAGE, LLC $4,520,000 $1,975,000 -56.3% 1.4%
    Farm Credit Mid-America, ACA $1,685,000 $1,675,000 -0.6% 1.2%
    DUPACO COMMUNITY $940,000 $1,625,000 72.9% 1.1%
    Central Bank Illinois $360,000 $1,480,000 311.1% 1.0%
    NAVY FEDERAL CREDIT UNION $455,000 $1,350,000 196.7% 1.0%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $910,000 $1,330,000 46.2% 0.9%
    Wells Fargo Bank $2,150,000 $1,290,000 -40.0% 0.9%
    CALIBER HOME LOANS, INC. $1,675,000 $1,260,000 -24.8% 0.9%
    VERIDIAN CREDIT UNION $445,000 $1,160,000 160.7% 0.8%
    American Bank and Trust Company $1,290,000 $1,145,000 -11.2% 0.8%
    Plains Commerce Bank $2,990,000 $1,145,000 -61.7% 0.8%
    CROSSCOUNTRY MORTGAGE, LLC $185,000 $965,000 421.6% 0.7%
    LOANDEPOT.COM, LLC $1,135,000 $940,000 -17.2% 0.7%
    The Huntington National Bank $915,000 n/a 0.6%
    GUARANTEED RATE, INC. $270,000 $885,000 227.8% 0.6%
    THE FAMILY CREDIT UNION $1,185,000 $870,000 -26.6% 0.6%
    The Bank of Missouri $805,000 n/a 0.6%
    NEWREZ LLC $865,000 $655,000 -24.3% 0.5%
    MidWestOne Bank $955,000 $610,000 -36.1% 0.4%
    RESIDENTIAL MORTGAGE NETWORK, INC. $225,000 $595,000 164.4% 0.4%
    PENNYMAC LOAN SERVICES, LLC $1,525,000 $550,000 -63.9% 0.4%
    MARINE $295,000 $525,000 78.0% 0.4%
    R.I.A. Federal Credit Union $440,000 $495,000 12.5% 0.4%
    Fidelity Bank & Trust $1,020,000 $485,000 -52.5% 0.3%
    Blue Grass Savings Bank $465,000 $480,000 3.2% 0.3%
    Paramount Residential Mortgage Group, Inc. $1,060,000 $475,000 -55.2% 0.3%
    AMERISAVE MORTGAGE CORPORATION $75,000 $465,000 520.0% 0.3%
    UNITED WHOLESALE MORTGAGE, LLC $320,000 $410,000 28.1% 0.3%
    North American Savings Bank, F.S.B. $335,000 n/a 0.2%
    Midwest Heritage Bank FSB $55,000 $325,000 490.9% 0.2%
    NEW DAY FINANCIAL, LLC $625,000 $325,000 -48.0% 0.2%
    FINANCE OF AMERICA MORTGAGE LLC $95,000 $320,000 236.8% 0.2%
    Flagstar Bank, FSB $445,000 $305,000 -31.5% 0.2%
    PLAZA HOME MORTGAGE, INC. $365,000 $305,000 -16.4% 0.2%
    SUN WEST MORTGAGE COMPANY, INC. $95,000 $305,000 221.1% 0.2%
    USAA Federal Savings Bank $970,000 $305,000 -68.6% 0.2%
    Associated Bank $300,000 n/a 0.2%
    Barrington Bank & Trust Company, N.A. $280,000 n/a 0.2%
    Bank Iowa $275,000 n/a 0.2%
    Community Mortgage Banc Corporation $450,000 $275,000 -38.9% 0.2%
    JPMorgan Chase Bank $250,000 $275,000 10.0% 0.2%
    The Federal Savings Bank $600,000 $275,000 -54.2% 0.2%
    FREEDOM MORTGAGE CORPORATION $3,730,000 $270,000 -92.8% 0.2%
    BNC National Bank $510,000 $260,000 -49.0% 0.2%
    Ohnward Bank & Trust $95,000 $250,000 163.2% 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,230,000 $235,000 -80.9% 0.2%
    VILLAGE CAPITAL MORTGAGE $1,175,000 $220,000 -81.3% 0.2%
    CBI Bank & Trust $265,000 $215,000 -18.9% 0.2%
    CHERRY CREEK MORTGAGE, LLC $210,000 n/a 0.1%
    First PREMIER Bank $185,000 n/a 0.1%
    LAKEVIEW LOAN SERVICING, LLC $220,000 $175,000 -20.5% 0.1%
    PREMIA MORTGAGE, LLC $125,000 $165,000 32.0% 0.1%
    GERSHMAN INVESTMENT CORP. $160,000 n/a 0.1%
    DRAPER AND KRAMER MORTGAGE CORP. $155,000 n/a 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $155,000 n/a 0.1%
    LIBERTY HOME MORTGAGE CORPORATION $155,000 n/a 0.1%
    Blackhawk Bank & Trust $150,000 n/a 0.1%
    SUCCESS MORTGAGE PARTNERS, INC. $615,000 $145,000 -76.4% 0.1%
    Wyndham Capital Mortgage, Inc. $305,000 $145,000 -52.5% 0.1%
    GAS AND ELECTRIC CREDIT UNION $155,000 $135,000 -12.9% 0.1%
    HIWAY $135,000 n/a 0.1%
    HOME POINT FINANCIAL CORPORATION $505,000 $135,000 -73.3% 0.1%
    Carrington Mortgage Services, LLC $185,000 $130,000 -29.7% 0.1%
    INLAND BANK & TRUST $675,000 $125,000 -81.5% 0.1%
    Mr. Cooper ( Nationstar Mortgage ) $1,345,000 $125,000 -90.7% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $370,000 $115,000 -68.9% 0.1%
    Quad City Bank and Trust Company $545,000 $105,000 -80.7% 0.1%
    SOUTHWEST FUNDING, LP $105,000 n/a 0.1%
    Bank of America $135,000 $95,000 -29.6% 0.1%
    GUILD MORTGAGE COMPANY $540,000 $95,000 -82.4% 0.1%
    HOMESERVICES LENDING, LLC $95,000 n/a 0.1%
    Midwest Community Bank $95,000 n/a 0.1%
    Morton Community Bank $355,000 $95,000 -73.2% 0.1%
    KELLER MORTGAGE, LLC $85,000 n/a 0.1%
    LINN AREA $85,000 n/a 0.1%
    MOVEMENT MORTGAGE, LLC $85,000 n/a 0.1%
    Frandsen Bank & Trust $75,000 n/a 0.1%
    AMERICAN ADVISORS GROUP $130,000 $65,000 -50.0% 0.0%
    M&T Bank $65,000 n/a 0.0%
    ALLIANT $85,000 $55,000 -35.3% 0.0%
    SPRING EQ, LLC $55,000 n/a 0.0%
    TBK BANK, SSB $55,000 n/a 0.0%
    TEACHERS CREDIT UNION $45,000 n/a 0.0%
    PNC Bank $35,000 n/a 0.0%
    CITIZENS EQUITY FIRST $55,000 $25,000 -54.5% 0.0%
    Great Southern Bank $75,000 $15,000 -80.0% 0.0%

    Clinton's top lender by overall market share is First Central State Bank, with 11.6% market share. In second place, with 8.1%, is BROKER SOLUTIONS, INC., having originated $11,470,000 in loans. In third place, with 7.7%, is U.S. Bank, having originated $10,840,000 in loans. In fourth place, with 7.5%, is ASCENTRA, having originated $10,635,000 in loans. In fifth place, with 6.3%, is GREENSTATE CREDIT UNION, having originated $8,870,000 in loans.

    Clinton, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 554 $90,020,000 $162,491
    Refi 174 $28,920,000 $166,207
    Cash Out Refi 134 $16,960,000 $126,567
    Home Improvement 57 $2,735,000 $47,982
    Other 50 $2,750,000 $55,000

    Clinton's most frequently cited loan purpose was Home Purchase, with 554 originations. The 2nd most popular reason was Refi, with 174 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 222 $33,590,000 $151,306
    4-5% 215 $30,945,000 $143,930
    5-6% 189 $25,435,000 $134,577
    6-7% 92 $12,150,000 $132,065
    2.5-3% 51 $9,085,000 $178,137
    7-8% 28 $2,420,000 $86,429
    Over 8% 13 $785,000 $60,385
    <2.5% 12 $2,500,000 $208,333

    During 2022, Clinton's most frequently originated rate bucket was 3-4%, with 222 originations.

    Loan Sizing (Clinton, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 441 $24,105,000 $54,660
    $100k-200k 331 $47,385,000 $143,157
    $200k-400k 167 $44,255,000 $265,000
    $400k-600k 20 $9,400,000 $470,000
    $600k-1000k 5 $3,665,000 $733,000
    $Over $1MM 5 $12,575,000 $2,515,000

    Clinton's loan sizing saw the bucket of loans from $100,000 or less with 441 originations, totaling $24,105,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 381 $68,365,000 $179,436
    60-80% 166 $26,990,000 $162,590
    Under 20% 93 $3,005,000 $32,312
    20-40% 77 $4,555,000 $59,156
    40-60% 45 $5,985,000 $133,000
    Over 100% 10 $2,180,000 $218,000

    Clinton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 381 originations, totaling $68,365,000 in origination value.