Fairfield 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 Fairfield averaged 6.86% for the week of 2025-05-22, compared to the national average of 6.86% for the same period.

    The average rate for the prior week (2025-05-15) was 6.71% and one month ago for the week of 2025-04-17, the average rate was 6.83%.

    Fairfield's average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-05-22, the average rate was 6.86%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-05-22 6.86%
    Fairfield 30 Year Fixed Rate 2025-05-22 6.86%
    Fairfield 30 Year Fixed Rate Refi 2025-05-22 6.86%
    Fairfield 15 Year Fixed Rate 2025-05-22 6.11%
    Fairfield 15 Year Fixed Rate Refi 2025-05-22 6.01%
    Fairfield 30 Year FHA 2025-05-22 6.81%
    Fairfield 30 Year FHA Refi 2025-05-22 6.51%
    Fairfield 30 Year USDA 2025-05-22 6.63%
    Fairfield 30 Year USDA Refi 2025-05-22 6.63%
    Fairfield 30 Year VA 2025-05-22 6.72%
    Fairfield 30 Year VA Refi 2025-05-22 6.52%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Fairfield, IA.

    Fairfield 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 Fairfield, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    COMMUNITY 1ST CREDIT UNION 15 6.63% $2,358
    West Gate Bank 7 6.11% $2,550
    MidWestOne Bank 5 6.48% $2,975
    QUICKEN LOANS, LLC 3 6.54% $7,668
    IOWA BANKERS MORTGAGE CORPORATION 2 6.44% $3,268
    ENDEAVOR CAPITAL, LLC. 2 6.88% $5,144
    GREENSTATE CREDIT UNION 2 5.94% $2,296
    Hills Bank and Trust Company 2 6.25% $2,178
    Wells Fargo Bank 2 7.06% $3,430
    CARDINAL FINANCIAL 1 6.38% $7,194
    Ally Bank 1 6.13% $6,470
    Farmers State Bank 1 6.88% $2,233
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.49% $3,300
    Sierra Pacific Mortgage Company, Inc. 1 7.63% $2,820
    T2 FINANCIAL LLC 1 6.63% $5,224
    The Huntington National Bank 1 7.63% $4,198
    UNITED WHOLESALE MORTGAGE, LLC 1 7.60% $9,052
    U.S. Bank 1 6.75% $3,038
    GENEVA FINANCIAL, LLC 1 6.75% $3,535
    Waterstone Mortgage Corporation 1 6.38% $7,661
    GUILD MORTGAGE COMPANY 1 6.49% $2,841

    Fairfield Average Closing Costs & Other Stats

    Fairfield, IA's 21 lenders originated 237 loans during 2024. The total origination value was $28,625,000, with an average loan value of $120,781.

    Fairfield's average closing costs are $3,496.

    The top Fairfield lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with 15 loans originated. Their average total fees are $2,358, which is $192 lower than the next largest lender, West Gate Bank.

    The lowest fee Fairfield lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION ($2,358), .

    The lowest rate Fairfield lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION (6.63%), .

    Fairfield, 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    Washington State Bank $6,735,000 $6,905,000 2.5% 24.1%
    COMMUNITY 1ST CREDIT UNION $6,220,000 $5,125,000 -17.6% 17.9%
    MidWestOne Bank $3,630,000 $2,250,000 -38.0% 7.9%
    QUICKEN LOANS, LLC $2,310,000 $1,265,000 -45.2% 4.4%
    Hills Bank and Trust Company $415,000 $1,215,000 192.8% 4.2%
    West Gate Bank $330,000 $1,085,000 228.8% 3.8%
    Mortgage Research Center, LLC $785,000 $1,065,000 35.7% 3.7%
    UNITED WHOLESALE MORTGAGE, LLC $105,000 $810,000 671.4% 2.8%
    First Federal Bank $765,000 n/a 2.7%
    VILLAGE CAPITAL MORTGAGE $530,000 n/a 1.9%
    IOWA BANKERS MORTGAGE CORPORATION $755,000 $520,000 -31.1% 1.8%
    CARDINAL FINANCIAL $490,000 n/a 1.7%
    ENDEAVOR CAPITAL, LLC. $485,000 n/a 1.7%
    GREENSTATE CREDIT UNION $1,025,000 $420,000 -59.0% 1.5%
    The Huntington National Bank $395,000 n/a 1.4%
    Farmers State Bank $365,000 n/a 1.3%
    FREEDOM MORTGAGE CORPORATION $105,000 $340,000 223.8% 1.2%
    Farm Credit Mid-America, ACA $335,000 n/a 1.2%
    Fortress Bank $155,000 $325,000 109.7% 1.1%
    RESIDENTIAL MORTGAGE NETWORK, INC. $325,000 n/a 1.1%
    CMG MORTGAGE, INC. $320,000 n/a 1.1%
    LAND HOME FINANCIAL SERVICES, INC. $135,000 $320,000 137.0% 1.1%
    GUILD MORTGAGE COMPANY $275,000 n/a 1.0%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $275,000 n/a 1.0%
    Wells Fargo Bank $250,000 n/a 0.9%
    NEW DAY FINANCIAL, LLC $245,000 n/a 0.9%
    Waterstone Mortgage Corporation $175,000 n/a 0.6%
    Federation Bank $155,000 $165,000 6.5% 0.6%
    Bank of America $375,000 $155,000 -58.7% 0.5%
    U.S. Bank $1,680,000 $140,000 -91.7% 0.5%
    Ally Bank $255,000 $125,000 -51.0% 0.4%
    T2 FINANCIAL LLC $115,000 n/a 0.4%
    Figure Lending LLC $45,000 $110,000 144.4% 0.4%
    GENEVA FINANCIAL, LLC $85,000 n/a 0.3%
    Deere Employees Credit Union $100,000 $75,000 -25.0% 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $65,000 n/a 0.2%
    Two Rivers Bank & Trust $155,000 $65,000 -58.1% 0.2%
    Sierra Pacific Mortgage Company, Inc. $225,000 $35,000 -84.4% 0.1%
    Coastal Community Bank $105,000 $25,000 -76.2% 0.1%

    Fairfield's top lender by overall market share is Washington State Bank, with 24.1% market share. In second place, with 17.9%, is COMMUNITY 1ST CREDIT UNION, having originated $5,125,000 in loans. In third place, with 7.9%, is MidWestOne Bank, having originated $2,250,000 in loans. In fourth place, with 4.4%, is QUICKEN LOANS, LLC, having originated $1,265,000 in loans. In fifth place, with 4.2%, is Hills Bank and Trust Company, having originated $1,215,000 in loans.

    Fairfield Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Fairfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $129,450 (-8.6%) $206,149 (21.0%) 0.00 56
    2018-02-01 $126,000 (-11.2%) $206,441 (20.6%) 0.00 54
    2018-03-01 $139,000 (-6.7%) $218,553 (18.7%) 0.00 59
    2018-04-01 $138,900 (-10.3%) $220,895 (17.6%) 0.00 55
    2018-05-01 $184,100 (24.9%) $228,467 (16.3%) 0.00 57
    2018-06-01 $177,500 (18.4%) $218,887 (2.2%) 0.00 68
    2018-07-01 $164,500 (6.1%) $214,238 (-5.0%) 0.00 75
    2018-08-01 $153,000 (2.9%) $214,866 (-6.7%) 0.00 68
    2018-09-01 $144,000 (1.2%) $199,397 (-14.2%) 0.00 72
    2018-10-01 $145,675 (5.8%) $208,518 (-8.5%) 0.00 75
    2018-11-01 $154,000 (12.4%) $205,615 (-9.3%) 0.00 76
    2018-12-01 $146,500 (10.3%) $208,308 (0.7%) 0.00 74
    2019-01-01 $149,125 (15.2%) $213,463 (3.6%) 0.00 68
    2019-02-01 $137,450 (9.1%) $199,956 (-3.1%) 0.00 73
    2019-03-01 $141,386 (1.7%) $197,506 (-9.6%) 0.00 72
    2019-04-01 $149,900 (7.9%) $205,125 (-7.1%) 0.00 74
    2019-05-01 $159,500 (-13.4%) $222,856 (-2.5%) 0.00 79
    2019-06-01 $165,000 (-7.0%) $233,391 (6.6%) 0.00 76
    2019-07-01 $159,700 (-2.9%) $223,570 (4.4%) 0.00 91
    2019-08-01 $158,636 (3.7%) $220,014 (2.4%) 0.00 90
    2019-09-01 $156,591 (8.7%) $211,449 (6.0%) 0.00 89
    2019-10-01 $155,000 (6.4%) $205,061 (-1.7%) 0.00 87
    2019-11-01 $154,900 (0.6%) $201,357 (-2.1%) 0.00 87
    2019-12-01 $152,500 (4.1%) $187,958 (-9.8%) 0.00 84
    2020-01-01 $154,200 (3.4%) $195,907 (-8.2%) 0.00 84
    2020-02-01 $154,900 (12.7%) $204,905 (2.5%) 0.00 84
    2020-03-01 $149,000 (5.4%) $193,029 (-2.3%) 0.00 86
    2020-04-01 $142,200 (-5.1%) $188,106 (-8.3%) 0.00 85
    2020-05-01 $147,700 (-7.4%) $196,163 (-12.0%) 0.00 80
    2020-06-01 $146,975 (-10.9%) $198,537 (-14.9%) 0.00 72
    2020-07-01 $143,500 (-10.1%) $204,081 (-8.7%) 0.00 65
    2020-08-01 $171,200 (7.9%) $225,226 (2.4%) 0.00 68
    2020-09-01 $179,700 (14.8%) $228,640 (8.1%) 0.00 62
    2020-10-01 $167,200 (7.9%) $219,241 (6.9%) 0.00 65
    2020-11-01 $170,950 (10.4%) $225,110 (11.8%) 0.00 59
    2020-12-01 $172,325 (13.0%) $232,546 (23.7%) 0.00 51
    2021-01-01 $165,000 (7.0%) $228,123 (16.4%) 0.00 36
    2021-02-01 $163,425 (5.5%) $226,021 (10.3%) 0.00 38
    2021-03-01 $162,150 (8.8%) $239,814 (24.2%) 0.00 36
    2021-04-01 $179,675 (26.4%) $260,114 (38.3%) 0.00 36
    2021-05-01 $202,450 (37.1%) $259,616 (32.4%) 0.00 34
    2021-06-01 $236,750 (61.1%) $266,984 (34.5%) 0.00 39
    2021-07-01 $210,000 (46.3%) $248,480 (21.8%) 0.00 45
    2021-08-01 $178,650 (4.4%) $227,849 (1.2%) 0.00 51
    2021-09-01 $169,900 (-5.5%) $234,159 (2.4%) 0.00 57
    2021-10-01 $207,000 (23.8%) $231,053 (5.4%) 0.00 47
    2021-11-01 $216,250 (26.5%) $220,876 (-1.9%) 0.00 49
    2021-12-01 $235,700 (36.8%) $253,782 (9.1%) 0.00 52
    2022-01-01 $225,000 (36.4%) $253,454 (11.1%) 0.00 48
    2022-02-01 $207,000 (26.7%) $254,436 (12.6%) 0.00 39
    2022-03-01 $207,000 (27.7%) $263,306 (9.8%) 0.00 38
    2022-04-01 $210,000 (16.9%) $247,689 (-4.8%) 0.00 40
    2022-05-01 $176,000 (-13.1%) $235,886 (-9.1%) 0.00 48
    2022-06-01 $170,825 (-27.9%) $225,304 (-15.6%) 0.00 55
    2022-07-01 $185,000 (-11.9%) $251,407 (1.2%) 0.00 62
    2022-08-01 $189,225 (5.9%) $264,438 (16.1%) 0.00 53
    2022-09-01 $189,900 (11.8%) $295,908 (26.4%) 0.00 46
    2022-10-01 $193,500 (-6.5%) $298,150 (29.0%) 0.00 44
    2022-11-01 $199,900 (-7.6%) $307,966 (39.4%) 0.00 40
    2022-12-01 $207,000 (-12.2%) $296,563 (16.9%) 0.00 43
    2023-01-01 $205,000 (-8.9%) $318,346 (25.6%) 0.00 41
    2023-02-01 $199,700 (-3.5%) $306,263 (20.4%) 0.00 38
    2023-03-01 $203,500 (-1.7%) $292,902 (11.2%) 0.00 42
    2023-04-01 $225,000 (7.1%) $293,539 (18.5%) 0.00 46
    2023-05-01 $216,225 (22.9%) $289,797 (22.9%) 0.00 45
    2023-06-01 $191,225 (11.9%) $274,370 (21.8%) 0.00 45
    2023-07-01 $179,900 (-2.8%) $255,404 (1.6%) 0.00 44
    2023-08-01 $180,725 (-4.5%) $259,979 (-1.7%) 0.00 38
    2023-09-01 $182,250 (-4.0%) $292,049 (-1.3%) 0.00 42
    2023-10-01 $197,450 (2.0%) $315,475 (5.8%) 0.00 48
    2023-11-01 $194,950 (-2.5%) $312,921 (1.6%) 0.00 51
    2023-12-01 $210,000 (1.5%) $319,189 (7.6%) 0.00 47
    2024-01-01 $200,375 (-2.3%) $318,999 (0.2%) 0.00 50
    2024-02-01 $203,425 (1.9%) $326,936 (6.8%) 0.00 47
    2024-03-01 $206,725 (1.6%) $308,447 (5.3%) 0.00 51
    2024-04-01 $216,875 (-3.6%) $307,676 (4.8%) 0.00 56
    2024-05-01 $206,200 (-4.6%) $318,772 (10.0%) 0.00 55
    2024-06-01 $204,450 (6.9%) $315,542 (15.0%) 0.00 56
    2024-07-01 $206,875 (15.0%) $312,560 (22.4%) 0.00 63
    2024-08-01 $192,000 (6.2%) $306,131 (17.8%) 0.00 64
    2024-09-01 $189,250 (3.8%) $313,074 (7.2%) 0.00 65
    2024-10-01 $179,000 (-9.3%) $272,873 (-13.5%) 0.00 84
    2024-11-01 $173,950 (-10.8%) $255,808 (-18.3%) 0.00 87
    2024-12-01 $179,250 (-14.6%) $263,238 (-17.5%) 0.00 80
    Fairfield's median listing price for 2024-12-01 was $179,250, a difference of $-30,750 (-14.6%) versus the prior year and $5,300 versus the prior month.

    Fairfield's median listing price comes in at 0% of the national average.

    Fairfield's average listing price for 2024-12-01 was $263,238, a difference of $-55,951 (-17.5%) versus the prior year and $7,430 versus the prior month.

    For the 2024-12-01 period, Fairfield had 80 MLS listings, a difference of -7 listings (-8%) versus the prior month and 33 listings (70%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fairfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,496 sqft
    2018-02-01 0 days 1,505 sqft
    2018-03-01 0 days 1,712 sqft
    2018-04-01 0 days 1,754 sqft
    2018-05-01 0 days 1,779 sqft
    2018-06-01 0 days 1,767 sqft
    2018-07-01 0 days 1,633 sqft
    2018-08-01 0 days 1,564 sqft
    2018-09-01 0 days 1,600 sqft
    2018-10-01 0 days 1,538 sqft
    2018-11-01 0 days 1,505 sqft
    2018-12-01 0 days 1,564 sqft
    2019-01-01 0 days 1,574 sqft
    2019-02-01 0 days 1,606 sqft
    2019-03-01 0 days 1,568 sqft
    2019-04-01 0 days 1,515 sqft
    2019-05-01 0 days 1,568 sqft
    2019-06-01 0 days 1,660 sqft
    2019-07-01 0 days 1,669 sqft
    2019-08-01 0 days 1,655 sqft
    2019-09-01 0 days 1,617 sqft
    2019-10-01 0 days 1,587 sqft
    2019-11-01 0 days 1,507 sqft
    2019-12-01 0 days 1,518 sqft
    2020-01-01 0 days 1,986 sqft
    2020-02-01 0 days 1,584 sqft
    2020-03-01 0 days 1,548 sqft
    2020-04-01 0 days 1,469 sqft
    2020-05-01 0 days 1,694 sqft
    2020-06-01 0 days 1,679 sqft
    2020-07-01 0 days 1,675 sqft
    2020-08-01 0 days 1,712 sqft
    2020-09-01 0 days 1,624 sqft
    2020-10-01 0 days 1,588 sqft
    2020-11-01 0 days 1,588 sqft
    2020-12-01 0 days 1,668 sqft
    2021-01-01 0 days 1,660 sqft
    2021-02-01 0 days 1,609 sqft
    2021-03-01 0 days 1,608 sqft
    2021-04-01 0 days 1,850 sqft
    2021-05-01 0 days 1,784 sqft
    2021-06-01 0 days 1,748 sqft
    2021-07-01 0 days 1,640 sqft
    2021-08-01 0 days 1,541 sqft
    2021-09-01 0 days 1,488 sqft
    2021-10-01 0 days 1,479 sqft
    2021-11-01 0 days 1,475 sqft
    2021-12-01 0 days 1,536 sqft
    2022-01-01 0 days 1,592 sqft
    2022-02-01 0 days 1,602 sqft
    2022-03-01 0 days 1,611 sqft
    2022-04-01 0 days 1,624 sqft
    2022-05-01 0 days 1,496 sqft
    2022-06-01 0 days 1,425 sqft
    2022-07-01 0 days 1,584 sqft
    2022-08-01 0 days 1,623 sqft
    2022-09-01 0 days 1,641 sqft
    2022-10-01 0 days 1,640 sqft
    2022-11-01 0 days 1,650 sqft
    2022-12-01 0 days 1,640 sqft
    2023-01-01 0 days 1,608 sqft
    2023-02-01 0 days 1,620 sqft
    2023-03-01 0 days 1,630 sqft
    2023-04-01 0 days 1,620 sqft
    2023-05-01 0 days 1,603 sqft
    2023-06-01 0 days 1,539 sqft
    2023-07-01 0 days 1,465 sqft
    2023-08-01 0 days 1,448 sqft
    2023-09-01 0 days 1,449 sqft
    2023-10-01 0 days 1,463 sqft
    2023-11-01 0 days 1,462 sqft
    2023-12-01 0 days 1,607 sqft
    2024-01-01 0 days 1,619 sqft
    2024-02-01 0 days 1,591 sqft
    2024-03-01 0 days 1,586 sqft
    2024-04-01 0 days 1,586 sqft
    2024-05-01 0 days 1,605 sqft
    2024-06-01 0 days 1,660 sqft
    2024-07-01 0 days 1,659 sqft
    2024-08-01 0 days 1,714 sqft
    2024-09-01 0 days 1,565 sqft
    2024-10-01 0 days 1,521 sqft
    2024-11-01 0 days 1,466 sqft
    2024-12-01 0 days 1,459 sqft
    Fairfield's median listing age (time on market) for 2024-12-01 was 0 days.

    Fairfield's median square footage for active listings during the 2024-12-01 period was 1,459 sqft. One year prior, the average listing was 1,607 sqft.

    Fairfield, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 109 $17,135,000 $157,202
    Refi 67 $6,565,000 $97,985
    Home Improvement 29 $1,495,000 $51,552
    Cash Out Refi 17 $2,795,000 $164,412
    Other 15 $635,000 $42,333

    Fairfield's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Refi, with 67 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 83 $10,355,000 $124,759
    7-8% 32 $4,960,000 $155,000
    <2.5% 30 $1,290,000 $43,000
    5-6% 20 $4,140,000 $207,000
    Over 8% 15 $795,000 $53,000

    During 2024, Fairfield's most frequently originated rate bucket was 6-7%, with 83 originations.

    Loan Sizing (Fairfield, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 126 $6,230,000 $49,444
    $100k-200k 73 $10,565,000 $144,726
    $200k-400k 34 $9,330,000 $274,412
    $400k-600k 2 $1,020,000 $510,000
    $600k-1000k 2 $1,480,000 $740,000

    Fairfield's loan sizing saw the bucket of loans from $100,000 or less with 126 originations, totaling $6,230,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 60 $11,050,000 $184,167
    20-40% 36 $1,920,000 $53,333
    60-80% 32 $5,060,000 $158,125
    Under 20% 31 $765,000 $24,677
    40-60% 17 $1,575,000 $92,647
    Over 100% 1 $255,000 $255,000

    Fairfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 60 originations, totaling $11,050,000 in origination value.