Fort Madison - Keokuk Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Fort Madison - Keokuk averaged 6.85% 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 6.99% and one month ago for the week of 2023-08-10, the average rate was 6.63%.

Fort Madison - Keokuk's average rate one year ago was 5.76%.

For refis of the same type during the week of 2023-09-14, the average rate was 7.68%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-14 7.18%
Fort Madison - Keokuk 30 Year Fixed Rate 2023-09-14 6.85%
Fort Madison - Keokuk 30 Year Fixed Rate Refi 2023-09-14 7.68%
Fort Madison - Keokuk 15 Year Fixed Rate 2023-09-14 6.31%
Fort Madison - Keokuk 15 Year Fixed Rate Refi 2023-09-14 6.61%
Fort Madison - Keokuk 30 Year FHA 2023-09-14 7.19%
Fort Madison - Keokuk 30 Year FHA Refi 2023-09-14 7.09%
Fort Madison - Keokuk 30 Year USDA 2023-09-14 7.08%
Fort Madison - Keokuk 30 Year USDA Refi 2023-09-14 7.08%
Fort Madison - Keokuk 30 Year VA 2023-09-14 6.61%
Fort Madison - Keokuk 30 Year VA Refi 2023-09-14 6.71%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Fort Madison-Keokuk, IA-IL-MO.

Fort Madison - Keokuk 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 Fort Madison-Keokuk, IA-IL-MO 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
United Community Bank 23 5.08% $1,653
Fortress Bank 21 4.90% $2,133
IOWA BANKERS MORTGAGE CORPORATION 17 4.71% $1,965
QUICKEN LOANS, LLC 16 4.89% $5,959
Plains Commerce Bank 11 4.01% $2,713
First Bankers Trust Company 9 5.60% $2,189
Wells Fargo Bank 6 5.50% $2,406
GREENSTATE CREDIT UNION 5 4.33% $2,132
MidWestOne Bank 5 5.40% $3,508
PEOPLES BANK & TRUST CO. 3 4.33% $3,373
U.S. Bank 3 5.17% $2,346
LOANDEPOT.COM, LLC 3 4.67% $4,858
Mortgage Research Center, LLC 2 5.38% $1,461
BETTER MORTGAGE CORPORATION 2 2.81% $4,602
COMPEER FINANCIAL, FLCA 2 5.88% $2,644
Flagstar Bank, FSB 2 4.62% $4,050
GUARANTEED RATE, INC. 2 5.94% $2,857
HomeBank 2 5.31% $2,918
JPMorgan Chase Bank 2 4.18% $2,108
AMERICAN FINANCING CORPORATION 2 5.75% $5,783
RUHL MORTGAGE, LLC 2 5.56% $2,083
USAA Federal Savings Bank 1 6.88% $2,500
LAND HOME FINANCIAL SERVICES, INC. 1 5.63% $5,798
First Mid Bank & Trust 1 3.13% $1,760
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 8.13% $1,221
MORTGAGE ACCESS CORP. 1 5.49% $6,441
Collins Community Credit Union 1 5.00% $1,787
Morton Community Bank 1 6.63% $1,820
Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $4,284
Neighborhood Loans, Inc. 1 6.13% $9,930
PENNYMAC LOAN SERVICES, LLC 1 4.00% $3,313
DUPACO COMMUNITY 1 5.13% $2,965
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.38% $3,537
Community Mortgage Banc Corporation 1 3.75% $1,940
RESIDENTIAL MORTGAGE NETWORK, INC. 1 5.00% $2,090
ROYAL UNITED MORTGAGE LLC 1 3.88% $6,079
AMERISAVE MORTGAGE CORPORATION 1 3.25% $3,052
FREEDOM MORTGAGE CORPORATION 1 5.99% $6,269
The Huntington National Bank 1 4.38% $2,907
COMMUNITY 1ST CREDIT UNION 1 3.00% $2,236
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $9,082
First State Bank of St. Charles, Missouri 1 5.38% $4,533

Fort Madison - Keokuk Average Closing Costs & Other Stats

Fort Madison-Keokuk, IA-IL-MO's 42 lenders originated 561 loans during 2022. The total origination value was $62,925,000, with an average loan value of $112,166.

Fort Madison - Keokuk's average closing costs are $3,258.

The top Fort Madison - Keokuk lender as defined by loan originations is United Community Bank, with 23 loans originated. Their average total fees are $1,653, which is $480 lower than the next largest lender, Fortress Bank.

The lowest fee Fort Madison - Keokuk lenders (with over 10 loans originated) are United Community Bank ($1,653), IOWA BANKERS MORTGAGE CORPORATION ($1,965), Fortress Bank ($2,133), Plains Commerce Bank ($2,713) and QUICKEN LOANS, LLC ($5,959).

The lowest rate Fort Madison - Keokuk lenders (with over 10 loans originated) are Plains Commerce Bank (4.01%), IOWA BANKERS MORTGAGE CORPORATION (4.71%), QUICKEN LOANS, LLC (4.89%), Fortress Bank (4.90%) and United Community Bank (5.08%).

Fort Madison-Keokuk, IA-IL-MO 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
United Community Bank $14,675,000 $10,710,000 -27.0% 17.0%
Two Rivers Bank & Trust $4,865,000 $5,780,000 18.8% 9.2%
QUICKEN LOANS, LLC $9,910,000 $4,955,000 -50.0% 7.9%
Plains Commerce Bank $5,735,000 $4,710,000 -17.9% 7.5%
Fortress Bank $7,435,000 $3,650,000 -50.9% 5.8%
IOWA BANKERS MORTGAGE CORPORATION $6,575,000 $3,240,000 -50.7% 5.1%
Mortgage Research Center, LLC $3,145,000 $2,930,000 -6.8% 4.7%
MidWestOne Bank $2,455,000 $2,470,000 0.6% 3.9%
First Bankers Trust Company $3,285,000 $1,570,000 -52.2% 2.5%
Wells Fargo Bank $2,120,000 $1,320,000 -37.7% 2.1%
GREENSTATE CREDIT UNION $1,450,000 $1,240,000 -14.5% 2.0%
PEOPLES BANK & TRUST CO. $1,140,000 n/a 1.8%
U.S. Bank $2,135,000 $900,000 -57.8% 1.4%
RUHL MORTGAGE, LLC $555,000 $895,000 61.3% 1.4%
BETTER MORTGAGE CORPORATION $340,000 $630,000 85.3% 1.0%
LOANDEPOT.COM, LLC $1,925,000 $615,000 -68.1% 1.0%
LAND HOME FINANCIAL SERVICES, INC. $600,000 n/a 1.0%
PENNYMAC LOAN SERVICES, LLC $125,000 $490,000 292.0% 0.8%
NEWREZ LLC $215,000 $485,000 125.6% 0.8%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $285,000 $465,000 63.2% 0.7%
RESIDENTIAL MORTGAGE NETWORK, INC. $175,000 $455,000 160.0% 0.7%
HOMEBRIDGE FINANCIAL SERVICES, INC. $445,000 n/a 0.7%
Flagstar Bank, FSB $290,000 $440,000 51.7% 0.7%
BROKER SOLUTIONS, INC. $530,000 $425,000 -19.8% 0.7%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $705,000 $425,000 -39.7% 0.7%
GUARANTEED RATE, INC. $95,000 $415,000 336.8% 0.7%
Mr. Cooper ( Nationstar Mortgage ) $555,000 $410,000 -26.1% 0.7%
DAS Acquisition Company, LLC $240,000 $395,000 64.6% 0.6%
AMERICAN PACIFIC MORTGAGE CORPORATION $405,000 $365,000 -9.9% 0.6%
AMERICAN FINANCING CORPORATION $355,000 n/a 0.6%
VILLAGE CAPITAL MORTGAGE $300,000 $350,000 16.7% 0.6%
Neighborhood Loans, Inc. $345,000 n/a 0.5%
AMERISAVE MORTGAGE CORPORATION $710,000 $340,000 -52.1% 0.5%
COMMUNITY 1ST CREDIT UNION $215,000 $340,000 58.1% 0.5%
The Huntington National Bank $325,000 n/a 0.5%
MORTGAGE ACCESS CORP. $255,000 $315,000 23.5% 0.5%
UNITED WHOLESALE MORTGAGE, LLC $350,000 $310,000 -11.4% 0.5%
CROSSCOUNTRY MORTGAGE, LLC $400,000 $305,000 -23.8% 0.5%
COMPEER FINANCIAL, FLCA $920,000 $300,000 -67.4% 0.5%
HNB National Bank $270,000 n/a 0.4%
JPMorgan Chase Bank $760,000 $270,000 -64.5% 0.4%
NAVY FEDERAL CREDIT UNION $555,000 $270,000 -51.4% 0.4%
CALIBER HOME LOANS, INC. $935,000 $260,000 -72.2% 0.4%
HomeBank $365,000 $260,000 -28.8% 0.4%
First Mid Bank & Trust $25,000 $250,000 900.0% 0.4%
Barrington Bank & Trust Company, N.A. $305,000 $240,000 -21.3% 0.4%
INB $235,000 n/a 0.4%
FREEDOM MORTGAGE CORPORATION $1,085,000 $230,000 -78.8% 0.4%
Dubuque Bank and Trust Company $155,000 $220,000 41.9% 0.3%
American Airlines Federal Credit Union $205,000 n/a 0.3%
CHURCHILL MORTGAGE CORPORATION $205,000 n/a 0.3%
Farmers State Bank $185,000 n/a 0.3%
INTERCAP LENDING INC. $180,000 n/a 0.3%
Morton Community Bank $170,000 n/a 0.3%
NEW DAY FINANCIAL, LLC $405,000 $170,000 -58.0% 0.3%
ROYAL UNITED MORTGAGE LLC $215,000 $150,000 -30.2% 0.2%
ASCENTRA $135,000 n/a 0.2%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $65,000 $135,000 107.7% 0.2%
Regions Bank $135,000 n/a 0.2%
Carrington Mortgage Services, LLC $170,000 $130,000 -23.5% 0.2%
Paramount Bank $125,000 n/a 0.2%
Stride Bank $125,000 n/a 0.2%
Commerce Home Mortgage, Inc. $115,000 n/a 0.2%
First State Bank of St. Charles, Missouri $115,000 n/a 0.2%
PARLAY MORTGAGE & PROPERTY, INC. $115,000 n/a 0.2%
DUPACO COMMUNITY $110,000 n/a 0.2%
BANKORION $105,000 n/a 0.2%
Great Western Bank $90,000 $105,000 16.7% 0.2%
American Bank and Trust Company $95,000 n/a 0.2%
Community Mortgage Banc Corporation $95,000 n/a 0.2%
Equity Prime Mortgage LLC $185,000 $95,000 -48.6% 0.2%
Merchants Bank $605,000 $95,000 -84.3% 0.2%
Midwest Bank $95,000 n/a 0.2%
PENTAGON FEDERAL CREDIT UNION $195,000 $95,000 -51.3% 0.2%
FINANCE OF AMERICA MORTGAGE LLC $125,000 $85,000 -32.0% 0.1%
HOME POINT FINANCIAL CORPORATION $115,000 $85,000 -26.1% 0.1%
UNION HOME MORTGAGE CORP. $190,000 $85,000 -55.3% 0.1%
I. H. MISSISSIPPI VALLEY CREDIT UNION $755,000 $75,000 -90.1% 0.1%
RUOFF MORTGAGE COMPANY, INC. $75,000 n/a 0.1%
Town & Country Banc Mortgage Services, Inc. $195,000 $75,000 -61.5% 0.1%
Collins Community Credit Union $60,000 n/a 0.1%
ALLIANT $160,000 $55,000 -65.6% 0.1%
Community Choice Credit Union $420,000 $55,000 -86.9% 0.1%
Deere Employees Credit Union $255,000 $55,000 -78.4% 0.1%
Hometown Equity Mortgage, LLC $170,000 $55,000 -67.6% 0.1%
Pike Bancorp, Inc. $55,000 n/a 0.1%
USAA Federal Savings Bank $450,000 $55,000 -87.8% 0.1%
Alliant Bank $45,000 n/a 0.1%
First National Bank of America $45,000 n/a 0.1%
PNC Bank $675,000 $35,000 -94.8% 0.1%
Figure Lending LLC $25,000 n/a 0.0%
Hills Bank and Trust Company $165,000 $25,000 -84.8% 0.0%
SouthernTrust Bank $25,000 $25,000 0.0% 0.0%
Commerce Bank $15,000 n/a 0.0%

Fort Madison - Keokuk's top lender by overall market share is United Community Bank, with 17.0% market share. In second place, with 9.2%, is Two Rivers Bank & Trust, having originated $5,780,000 in loans. In third place, with 7.9%, is QUICKEN LOANS, LLC, having originated $4,955,000 in loans. In fourth place, with 7.5%, is Plains Commerce Bank, having originated $4,710,000 in loans. In fifth place, with 5.8%, is Fortress Bank, having originated $3,650,000 in loans.

Fort Madison-Keokuk, IA-IL-MO Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 332 $40,450,000 $121,837
Refi 92 $11,430,000 $124,239
Cash Out Refi 71 $7,965,000 $112,183
Home Improvement 49 $1,915,000 $39,082
Other 16 $1,120,000 $70,000
NA 1 $45,000 $45,000

Fort Madison - Keokuk's most frequently cited loan purpose was Home Purchase, with 332 originations. The 2nd most popular reason was Refi, with 92 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 134 $15,650,000 $116,791
4-5% 127 $15,165,000 $119,409
3-4% 113 $13,425,000 $118,805
6-7% 65 $6,765,000 $104,077
2.5-3% 25 $2,995,000 $119,800
<2.5% 18 $1,810,000 $100,556
7-8% 8 $620,000 $77,500
Over 8% 5 $335,000 $67,000

During 2022, Fort Madison - Keokuk's most frequently originated rate bucket was 5-6%, with 134 originations.

Loan Sizing (Fort Madison-Keokuk, IA-IL-MO MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 305 $17,645,000 $57,852
$100k-200k 185 $25,405,000 $137,324
$200k-400k 64 $16,540,000 $258,438
$400k-600k 6 $2,730,000 $455,000
$600k-1000k 1 $605,000 $605,000

Fort Madison - Keokuk's loan sizing saw the bucket of loans from $100,000 or less with 305 originations, totaling $17,645,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 264 $34,400,000 $130,303
60-80% 115 $14,905,000 $129,609
20-40% 43 $2,005,000 $46,628
40-60% 38 $3,780,000 $99,474
Under 20% 26 $730,000 $28,077
Over 100% 7 $755,000 $107,857

Fort Madison - Keokuk's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 264 originations, totaling $34,400,000 in origination value.