IOWA CITY Mortgage Rates

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

30 Year Fixed Rate mortgages in Iowa City averaged 3.31% for the week of 2021-12-02, compared to the national average of 3.11% for the same period.

The average rate for the prior week (2021-11-24) was 3.3% and one month ago for the week of 2021-10-28, the average rate was 3.14%.

Iowa City's average rate one year ago was 2.92%.

For refis of the same type during the week of 2021-12-02, the average rate was 2.94%.

Loan Type Date Rate
US 30 Year Fixed Rate 2021-12-02 3.11%
Iowa City 30 Year Fixed Rate 2021-12-02 3.31%
Iowa City 30 Year Fixed Rate Refi 2021-12-02 2.94%
Iowa City 15 Year Fixed Rate 2021-12-02 2.75%
Iowa City 15 Year Fixed Rate Refi 2021-12-02 2.62%
Iowa City 30 Year FHA 2021-12-02 3.45%
Iowa City 30 Year FHA Refi 2021-12-02 3.56%
Iowa City 30 Year USDA 2021-12-02 3.32%
Iowa City 30 Year USDA Refi 2021-12-02 2.83%
Iowa City 30 Year VA 2021-12-02 2.96%
Iowa City 30 Year VA Refi 2021-12-02 2.87%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within IOWA CITY, IA.

IOWA CITY Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the IOWA CITY, 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 2020 Avg. 30yFix Rate 2020 Avg. Total Fees
GREENSTATE CREDIT UNION 1,779 3.11% $1,550
Hills Bank and Trust Company 1,318 3.10% $1,538
Collins Community Credit Union 148 3.04% $1,674
MidWestOne Bank 138 3.16% $1,515
CBI Bank & Trust 132 2.98% $1,775
RESIDENTIAL MORTGAGE NETWORK, INC. 112 3.07% $1,905
VERIDIAN CREDIT UNION 98 3.18% $1,688
RUHL MORTGAGE, LLC 65 2.81% $1,681
QUICKEN LOANS, LLC 56 3.25% $4,443
U.S. Bank National Association 55 3.15% $2,271
IOWA BANKERS MORTGAGE CORPORATION 50 3.25% $1,952
Wells Fargo Bank, National Association 34 3.46% $1,736
Associated Bank, National Association 27 3.04% $1,083
Servion, Inc. 19 3.24% $1,709
I. H. MISSISSIPPI VALLEY CREDIT UNION 13 2.99% $1,737
LINN AREA 13 3.43% $1,885
PENNYMAC LOAN SERVICES, LLC 11 3.29% $6,721
UNITED WHOLESALE MORTGAGE, LLC 8 3.53% $2,851
BROKER SOLUTIONS, INC. 8 2.88% $3,519
CALIBER HOME LOANS, INC. 8 3.04% $2,603
COMMUNITY 1ST CREDIT UNION 8 4.00% $1,820
BankIowa of Cedar Rapids 8 3.09% $1,583
Northpointe Bank 8 3.08% $2,664
Great Western Bank 8 3.19% $2,216
AMERISAVE MORTGAGE CORPORATION 7 2.54% $6,480
DUPACO COMMUNITY 7 3.20% $3,046
JPMorgan Chase Bank, National Association 7 3.44% $2,846
LOANDEPOT.COM, LLC 6 3.25% $5,267
HOMESERVICES LENDING, LLC 6 2.96% $1,312
Vibrant Credit Union 6 2.60% $2,007
BETTER MORTGAGE CORPORATION 6 3.27% $3,794
NATIONSTAR MORTGAGE LLC 6 3.63% $4,162
NEWREZ LLC 6 3.10% $3,234
Luana Savings Bank 5 3.10% $1,115
KELLER MORTGAGE, LLC 5 3.35% $1,280
Bank of America, National Association 5 3.20% $2,378
FIRST 5 3.33% $1,860
INLANTA MORTGAGE, INC. 5 3.45% $2,888
Waterstone Mortgage Corporation 5 3.08% $3,239
GUILD MORTGAGE COMPANY 5 3.13% $2,869
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.47% $2,937
MUTUAL OF OMAHA MORTGAGE, INC. 4 3.78% $3,940
Northwest Bank 4 3.13% $1,986
Central Bank 4 3.06% $1,985
LAND HOME FINANCIAL SERVICES, INC. 4 3.84% $3,847
CROSSCOUNTRY MORTGAGE, LLC 4 3.15% $2,553
HOMESIDE FINANCIAL, LLC 4 3.13% $2,162
Flagstar Bank, FSB 4 3.46% $4,030
Regions Bank 4 3.59% $2,434
Fidelity Bank & Trust 4 3.28% $1,284
Fifth Third Bank, National Association 4 3.99% $3,520
Raccoon Valley Bank 3 3.11% $1,651
USAA Federal Savings Bank 3 4.00% $2,699
BOKF, National Association 3 3.75% $3,156
ASCENTRA 3 3.21% $2,221
Bankers Trust Company 3 2.96% $1,887
West Gate Bank 3 3.17% $1,732
LEADERONE FINANCIAL CORPORATION 3 2.91% $1,754
GERSHMAN INVESTMENT CORP. 3 3.17% $1,903
GUARANTEED RATE, INC. 3 2.88% $2,428
Farm Credit Mid-America, ACA 3 3.38% $8,106
First Midwest Bank 2 3.88% $2,434
BMO Harris Bank National Association 2 3.50% $3,836
CHURCHILL MORTGAGE CORPORATION 2 3.31% $5,964
Citizens Bank, National Association 2 3.19% $3,488
Community Choice Credit Union 2 3.31% $2,079
Deere Employees Credit Union 2 2.38% $2,446
DELMAR FINANCIAL COMPANY 2 2.81% $3,543
EMM LOANS LLC 2 3.62% $4,543
EVERETT FINANCIAL, INC. 2 3.31% $1,523
FIRST COMMUNITY MORTGAGE, INC. 2 3.31% $2,433
Fortress Bank 2 2.94% $1,854
Merchants Bank, National Association 2 3.21% $2,274
NAVY FEDERAL CREDIT UNION 2 3.75% $1,400
North American Savings Bank, F.S.B. 2 3.13% $1,824
PENTAGON FEDERAL CREDIT UNION 2 3.00% $1,511
STEARNS LENDING, LLC 2 3.50% $2,756
Tradition Mortgage, LLC 2 2.81% $1,830
MidFirst Bank 1 3.60% $1,536
Gateway First Bank 1 3.75% $0
Mortgage Research Center, LLC 1 3.50% $2,384
FREEDOM MORTGAGE CORPORATION 1 3.88% $908
Flanagan State Bank 1 3.13% $2,033
BLUELEAF LENDING, LLC 1 2.88% $2,003
NBH Bank 1 2.88% $2,579
FIRST STATE MORTGAGE SERVICES, LLC 1 3.38% $2,308
Bell Bank 1 3.13% $3,427
First National Bank 1 2.88% $3,762
AMCAP MORTGAGE, LTD. 1 2.88% $3,279
OPEN MORTGAGE, LLC 1 3.63% $9,291
First Bank & Trust 1 3.00% $3,022
Barrington Bank & Trust Company, N.A. 1 2.99% $2,388
FINANCE OF AMERICA MORTGAGE LLC 1 3.00% $832
Farmers State Bank 1 3.50% $1,560
Farmers & Mechanics Bank 1 3.00% $2,294
Equity Bank 1 3.38% $2,333
ROYAL UNITED MORTGAGE LLC 1 2.88% $6,208
DRAPER AND KRAMER MORTGAGE CORP. 1 3.38% $2,054
SECURITYNATIONAL MORTGAGE COMPANY 1 3.50% $2,987
DAS Acquisition Company, LLC 1 3.75% $2,365
SIOUXLAND FEDERAL CREDIT UNION 1 3.75% $4,139
SIRVA MORTGAGE, INC. 1 3.50% $0
SOFI LENDING CORP. 1 3.13% $3,411
SOUTHWEST FUNDING, LP 1 3.25% $6,542
SPRING EQ, LLC 1 2.75% $2,208
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $1,970
SUCCESS MORTGAGE PARTNERS, INC. 1 3.13% $1,973
The Bank of New Glarus 1 3.00% $1,012
The Federal Savings Bank 1 3.13% $8,114
TOP FLITE FINANCIAL, INC. 1 4.75% $3,125
TOWNE MORTGAGE COMPANY 1 3.13% $3,064
American Bank and Trust Company, National Association 1 2.88% $2,304
Truist Bank 1 3.75% $2,179
UBS Bank USA 1 2.88% $3,401
UNITED 1 3.50% $1,850
Citibank, National Association 1 2.50% $2,884
CHERRY CREEK MORTGAGE, LLC 1 3.00% $585
Lake Area Bank 1 3.88% $3,861
Independent Bank 1 2.63% $1,800
HOME POINT FINANCIAL CORPORATION 1 3.13% $1,711
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.50% $3,806
GUARANTEED RATE AFFINITY, LLC 1 2.99% $150
Carrington Mortgage Services, LLC 1 3.63% $2,883

IOWA CITY, IA's 123 lenders originated 9,985 loans during 2020. The total origination value was $2,110,005,000, with an average loan value of $211,317.

The top IOWA CITY lender as defined by loan originations is GREENSTATE CREDIT UNION, with 1,779 loans originated. Their average total fees are $1,550, which is $13 higher than the next largest lender, Hills Bank and Trust Company.

The lowest fee IOWA CITY lenders (with over 10 loans originated) are Associated Bank, National Association ($1,083), MidWestOne Bank ($1,515), Hills Bank and Trust Company ($1,538), GREENSTATE CREDIT UNION ($1,550) and Collins Community Credit Union ($1,674).

The lowest rate IOWA CITY lenders (with over 10 loans originated) are RUHL MORTGAGE, LLC (2.81%), CBI Bank & Trust (2.98%), I. H. MISSISSIPPI VALLEY CREDIT UNION (2.99%), Associated Bank, National Association (3.04%) and Collins Community Credit Union (3.04%).

IOWA CITY, IA Lender 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 2019 Loan Value 2020 Loan Value % Change 2020 Market Share
University of Iowa Community Credit Union $485,445,000 $703,065,000 44.8% 33.3%
Hills Bank and Trust Company $402,930,000 $550,965,000 36.7% 26.1%
MIDWESTONE BANK $62,865,000 $100,025,000 59.1% 4.7%
Residential Mortgage Network, Inc. $45,405,000 $78,870,000 73.7% 3.7%
CBI Bank & Trust $24,120,000 $55,635,000 130.7% 2.6%
Collins Community Credit Union $26,350,000 $52,990,000 101.1% 2.5%
West Bank $13,840,000 $37,330,000 169.7% 1.8%
Veridian Credit Union $22,770,000 $37,285,000 63.7% 1.8%
US BANK, N.A. $32,015,000 $34,805,000 8.7% 1.6%
Quicken Loans $15,920,000 $33,145,000 108.2% 1.6%
Central State Bank $3,060,000 $29,150,000 852.6% 1.4%
Ruhl Mortgage $7,105,000 $27,265,000 283.7% 1.3%
Dupaco Community Credit Union $2,215,000 $25,285,000 1,041.5% 1.2%
Bankers Trust Company $1,915,000 $25,150,000 1,213.3% 1.2%
Iowa Bankers Mortgage Corporation $13,645,000 $24,020,000 76.0% 1.1%
Washington State Bank $9,495,000 $22,440,000 136.3% 1.1%
Great Western Bank $3,275,000 $22,155,000 576.5% 1.0%
WELLS FARGO BANK NA $12,060,000 $15,970,000 32.4% 0.8%
Farmers State Bank $195,000 $10,465,000 5,266.7% 0.5%
Dougherty Mortgage, LLC $9,775,000 n/a 0.5%
Associated Bank NA $4,120,000 $8,035,000 95.0% 0.4%
Servion, Inc. $7,445,000 n/a 0.4%
PENNYMAC LOAN SERVICES LLC $1,370,000 $6,210,000 353.3% 0.3%
Linn Area Credit Union $2,690,000 $5,585,000 107.6% 0.3%
Farm Credit Mid-America $865,000 $5,340,000 517.3% 0.3%
Amerisave Mortgage Corporation $380,000 $5,275,000 1,288.2% 0.2%
Two Rivers Bank & Trust $2,555,000 $4,915,000 92.4% 0.2%
Freedom Mortgage Corporation $2,405,000 $4,730,000 96.7% 0.2%
Mount Vernon Bank & Trust Company $2,055,000 $4,505,000 119.2% 0.2%
BankIowa of Cedar Rapids $2,715,000 $4,415,000 62.6% 0.2%
JPMorgan Chase Bank, NA $1,255,000 $4,380,000 249.0% 0.2%
Mortgage Research Center LLC $3,225,000 $4,340,000 34.6% 0.2%
Nationstar Mortgage $2,045,000 $4,210,000 105.9% 0.2%
IH Mississippi Valley Credit Union $935,000 $3,865,000 313.4% 0.2%
Farmers State Bank $195,000 $3,510,000 1,700.0% 0.2%
PEOPLES BANK $3,430,000 n/a 0.2%
Northpointe Bank $385,000 $3,170,000 723.4% 0.2%
Caliber Home Loans Inc $1,220,000 $3,035,000 148.8% 0.1%
Farmers & Merchants Savings Bank $860,000 $3,000,000 248.8% 0.1%
New American Funding (dba for Broker Solutions Inc) $775,000 $2,950,000 280.6% 0.1%
Vibrant Credit Union $525,000 $2,930,000 458.1% 0.1%
NAVY FEDERAL CREDIT UNION $1,105,000 $2,865,000 159.3% 0.1%
Guild Mortgage Company $1,130,000 $2,715,000 140.3% 0.1%
loanDepot LLC $2,740,000 $2,645,000 -3.5% 0.1%
United Shore Financial Services LLC $2,465,000 $2,590,000 5.1% 0.1%
Luana Savings Bank $1,985,000 $2,570,000 29.5% 0.1%
NEWREZ LLC $2,560,000 n/a 0.1%
Cedar Rapids Bank and Trust Company $1,295,000 $2,440,000 88.4% 0.1%
Waterstone Mortgage Corp $840,000 $2,440,000 190.5% 0.1%
Better Mortgage Corporation $2,400,000 n/a 0.1%
21ST MORTGAGE $600,000 $2,345,000 290.8% 0.1%
Community 1st Credit Union $1,975,000 $2,070,000 4.8% 0.1%
Bank of America NA $2,015,000 $2,010,000 -0.2% 0.1%
Fidelity Bank & Trust $205,000 $1,875,000 814.6% 0.1%
The Federal Savings Bank $1,555,000 $1,850,000 19.0% 0.1%
First Federal Credit Union $1,165,000 $1,795,000 54.1% 0.1%
REGIONS BANK $400,000 $1,755,000 338.8% 0.1%
Northwest Bank $290,000 $1,735,000 498.3% 0.1%
Planet Home Lending LLC $195,000 $1,710,000 776.9% 0.1%
Inlanta Mortgage $935,000 $1,695,000 81.3% 0.1%
Midwest Heritage Bank FSB $1,130,000 $1,695,000 50.0% 0.1%
Cardinal Financial Company LP $190,000 $1,660,000 773.7% 0.1%
SENB Bank $1,605,000 n/a 0.1%
Synergy One Lending $405,000 $1,600,000 295.1% 0.1%
Land Home Financial Services Inc. $1,240,000 $1,560,000 25.8% 0.1%
HomeServices Lending LLC $1,275,000 $1,545,000 21.2% 0.1%
Kerndt Brothers Savings Bank $1,040,000 $1,520,000 46.2% 0.1%
Citizens State Bank $135,000 $1,435,000 963.0% 0.1%
Barrington Bank & Trust $185,000 $1,340,000 624.3% 0.1%
CBNA $1,225,000 $1,315,000 7.3% 0.1%
Pentagon Federal Credit Union $145,000 $1,235,000 751.7% 0.1%
Homeside Financial LLC $375,000 $1,185,000 216.0% 0.1%
Community Savings Bank $2,995,000 $1,160,000 -61.3% 0.1%
LeaderOne Financial Corp. $1,160,000 n/a 0.1%
Keller Mortgage LLC $165,000 $1,150,000 597.0% 0.1%
Quad City Bank and Trust Company $1,110,000 n/a 0.1%
NewDay Financial LLC dba NewDay USA $420,000 $1,105,000 163.1% 0.1%
USAA FEDERAL SAVINGS BANK $2,420,000 $1,100,000 -54.5% 0.1%
Guaranteed Rate Inc. $215,000 $1,065,000 395.3% 0.1%
Branch Banking And Trust Co $1,010,000 n/a 0.0%
Lakeview Loan Servicing, LLC $185,000 $975,000 427.0% 0.0%
United Federal Credit Union $1,965,000 $970,000 -50.6% 0.0%
North American Savings Bank $2,200,000 $955,000 -56.6% 0.0%
Home Point Financial Corporation $950,000 $945,000 -0.5% 0.0%
Central Bank $280,000 $935,000 233.9% 0.0%
Churchill Mortgage Corporation $900,000 n/a 0.0%
Ascentra Credit Union $485,000 $890,000 83.5% 0.0%
Flagstar Bank $250,000 $880,000 252.0% 0.0%
Raccoon Valley Bank $840,000 n/a 0.0%
Gershman Investment Corp. $145,000 $770,000 431.0% 0.0%
Deere Employees Credit Union $990,000 $755,000 -23.7% 0.0%
Village Capital & Investment $720,000 n/a 0.0%
FIRST NATIONAL BANK OF OMAHA $710,000 n/a 0.0%
Byron Bank $690,000 n/a 0.0%
Success Mortgage Partners Inc. $690,000 n/a 0.0%
BOKF NA $225,000 $675,000 200.0% 0.0%
Magnolia Bank Incorporated $700,000 $675,000 -3.6% 0.0%
American National Bank $225,000 $670,000 197.8% 0.0%
Open Mortgage LLC $250,000 $660,000 164.0% 0.0%
Citibank, N.A. $155,000 $650,000 319.4% 0.0%
Iowa State Bank $305,000 $645,000 111.5% 0.0%
Fortress Bank $125,000 $635,000 408.0% 0.0%
First Community Mortgage Inc. $560,000 $610,000 8.9% 0.0%
E Mortgage Management LLC $125,000 $605,000 384.0% 0.0%
Towne Mortgage Company $575,000 n/a 0.0%
West Gate Bank $1,295,000 $560,000 -56.8% 0.0%
Fifth Third Bank $420,000 $555,000 32.1% 0.0%
American Bank and Trust Company National Association $610,000 $535,000 -12.3% 0.0%
FirstBank $530,000 n/a 0.0%
Arbor Bank $700,000 $515,000 -26.4% 0.0%
Supreme Lending/ Everett Financial Inc. $515,000 n/a 0.0%
UBS Bank USA $505,000 $515,000 2.0% 0.0%
Amcap Mortgage Ltd. $505,000 n/a 0.0%
Lincoln Savings Bank $65,000 $505,000 676.9% 0.0%
PNC BANK NA $500,000 n/a 0.0%
Alliant Credit Union $305,000 $490,000 60.7% 0.0%
DelMar Financial Company $490,000 n/a 0.0%
Mid America Mortgage Inc. $660,000 $480,000 -27.3% 0.0%
SoFi Lending Corp $480,000 n/a 0.0%
Independent Bank $475,000 n/a 0.0%
Florida Capital Bank National Association $470,000 n/a 0.0%
Tradition Mortgage $465,000 n/a 0.0%
BMO Harris Bank N.A. $505,000 $460,000 -8.9% 0.0%
BANK OF THE WEST $910,000 $435,000 -52.2% 0.0%
MERCHANTS BANK, NA $435,000 n/a 0.0%
River Bank $425,000 n/a 0.0%
American Pacific Mortgage Corporation $340,000 $420,000 23.5% 0.0%
Stearns Lending $345,000 $410,000 18.8% 0.0%
Low VA Rates $400,000 n/a 0.0%
Stifel Bank and Trust $255,000 $395,000 54.9% 0.0%
GNB Bank $205,000 $390,000 90.2% 0.0%
Sovereign Lending Group, Inc $235,000 $385,000 63.8% 0.0%
HomeBridge Financial Services, Inc. $380,000 n/a 0.0%
Alliance Bank $365,000 n/a 0.0%
Guaranteed Rate Affinity LLC $890,000 $355,000 -60.1% 0.0%
BLUELEAF LENDING, LLC $340,000 n/a 0.0%
Green Belt Bank & Trust $340,000 n/a 0.0%
Finance of America Mortgage LLC $575,000 $335,000 -41.7% 0.0%
Equity Bank $325,000 n/a 0.0%
Equity Prime Mortgage LLC $310,000 n/a 0.0%
Flat Branch Mortgage Inc. $305,000 n/a 0.0%
City & County Credit Union $300,000 n/a 0.0%
Community Choice Credit Union $290,000 n/a 0.0%
Compass Mortgage Inc $285,000 n/a 0.0%
Gas & Electric Credit Union $285,000 n/a 0.0%
BELL BANK $275,000 n/a 0.0%
The Family Credit Union $275,000 n/a 0.0%
First Central State Bank $125,000 $265,000 112.0% 0.0%
GATEWAY MORTGAGE GROUP $265,000 n/a 0.0%
Homeowners Financial Group $265,000 n/a 0.0%
Universal Lending Corporation $530,000 $265,000 -50.0% 0.0%
Carrollton Bank $485,000 $255,000 -47.4% 0.0%
Charter West Bank $255,000 n/a 0.0%
Centier Bank $250,000 n/a 0.0%
American Financing Corporation $245,000 n/a 0.0%
Paramount Residential Mortgage Group Inc. $225,000 $245,000 8.9% 0.0%
SIOUXLAND FEDERAL CREDIT UNION $245,000 n/a 0.0%
Citizens Equity First Credit Union (CEFCU) $230,000 $240,000 4.3% 0.0%
CARRINGTON MORTGAGE SERVICES $840,000 $235,000 -72.0% 0.0%
Embrace Home Loans, Inc. $135,000 $235,000 74.1% 0.0%
Southwest Funding LP $235,000 n/a 0.0%
Sun West Mortgage Company Inc. $225,000 $235,000 4.4% 0.0%
First Midwest Bank $185,000 $230,000 24.3% 0.0%
Colonial Savings $225,000 n/a 0.0%
MOVEMENT MORTGAGE, LLC $225,000 n/a 0.0%
VisionBank of Iowa $195,000 $225,000 15.4% 0.0%
Availa Bank $215,000 n/a 0.0%
Plaza Home Mortgage Inc. $280,000 $215,000 -23.2% 0.0%
Lake Area Bank $205,000 n/a 0.0%
NBKC Bank $185,000 $205,000 10.8% 0.0%
Peoples Mortgage Company $205,000 n/a 0.0%
The Farmers and Mechanics Bank $205,000 n/a 0.0%
American Financial Resources Inc. $195,000 n/a 0.0%
Cedar Falls Community Credit Union $195,000 n/a 0.0%
Cherry Creek Mortgage Co. Inc. $195,000 n/a 0.0%
MidFirst Bank $195,000 n/a 0.0%
MLD Mortgage Inc. $195,000 n/a 0.0%
Sirva Mortgage Inc. $265,000 $195,000 -26.4% 0.0%
Town and Country Banc Mortgage $195,000 n/a 0.0%
FAIRWAY INDEPENDENT MORT CORP $1,175,000 $185,000 -84.3% 0.0%
TIAA, FSB $280,000 $185,000 -33.9% 0.0%
Triad Financial Services Inc $185,000 n/a 0.0%
Draper and Kramer Mortgage Corp. $175,000 $175,000 0.0% 0.0%
SecurityNational Mortgage Company $175,000 n/a 0.0%
AmeriHomeMortgageCompany,LL $165,000 n/a 0.0%
Central Bank Illinois $165,000 $165,000 0.0% 0.0%
NBH Bank $165,000 n/a 0.0%
Farmers National Bank $155,000 n/a 0.0%
Mortgage Services III LLC $265,000 $155,000 -41.5% 0.0%
US Mortgage of Florida $155,000 n/a 0.0%
DAS Acquisition Company, LLC $305,000 $145,000 -52.5% 0.0%
FIRST NATIONAL BANK $145,000 n/a 0.0%
First Savings Bank $185,000 $145,000 -21.6% 0.0%
FIRST STATE BANK $145,000 n/a 0.0%
Flanagan State Bank $330,000 $145,000 -56.1% 0.0%
HomeStar Financial Corporation $145,000 n/a 0.0%
SPRING EQ, LLC $145,000 n/a 0.0%
CMG Mortgage Inc. $305,000 $135,000 -55.7% 0.0%
Cornerstone National Bank & Trust Company $115,000 n/a 0.0%
Intercontinental Capital Group, Inc. $115,000 n/a 0.0%
Marine Bank $115,000 $115,000 0.0% 0.0%
COMMERCE BANK $105,000 n/a 0.0%
PHH MORTGAGE CORPORATION $105,000 n/a 0.0%
FIRST BANK & TRUST $95,000 n/a 0.0%
Royal United Mortgage LLC $175,000 $85,000 -51.4% 0.0%
The Bank of New Glarus $85,000 n/a 0.0%
top flite financial, inc. $85,000 n/a 0.0%
Bank 2 $75,000 n/a 0.0%
TCF National Bank $75,000 n/a 0.0%
Pinnacle Bank - KMN $65,000 n/a 0.0%
First Southern Bank $35,000 n/a 0.0%
Hiway Federal Credit Union $75,000 $35,000 -53.3% 0.0%

IOWA CITY's top lender by overall market share is University of Iowa Community Credit Union, with 33.3% market share. In second place, with 26.1%, is Hills Bank and Trust Company, having originated $550,965,000 in loans. In third place, with 4.7%, is MIDWESTONE BANK, having originated $100,025,000 in loans. In third place, with 3.7%, is Residential Mortgage Network, Inc., having originated $78,870,000 in loans. In third place, with 2.6%, is CBI Bank & Trust, having originated $55,635,000 in loans.


IOWA CITY, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 3,965 $795,985,000 $200,753
Refi 3,311 $836,885,000 $252,759
Cash Out Refi 1,781 $385,635,000 $216,527
Home Improvement 608 $63,460,000 $104,375
Other 320 $28,040,000 $87,625

Iowa City's most frequently cited loan purpose was Home Purchase, with 3,965 originations. The 2nd most popular reason was Refi, with 3,311 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 4,118 $837,480,000 $203,371
2.5-3% 2,906 $714,170,000 $245,757
<2.5% 1,200 $306,020,000 $255,017
4-5% 1,089 $113,425,000 $104,155
5-6% 172 $10,830,000 $62,965
6-7% 71 $4,475,000 $63,028
7-8% 18 $1,400,000 $77,778
Over 8% 13 $515,000 $39,615

During 2020, Iowa City's most frequently originated rate bucket was 3-4%, with 4,118 originations.

Loan Sizing (IOWA CITY, IA MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 3,476 $947,170,000 $272,488
$100k-200k 3,187 $488,115,000 $153,158
$100,000 or less 2,563 $118,565,000 $46,260
$400k-600k 620 $291,060,000 $469,452
$600k-1000k 86 $62,030,000 $721,279
$Over $1MM 53 $203,065,000 $3,831,415

IOWA CITY's loan sizing saw the bucket of loans from $200k-400k with 3,476 originations, totaling $947,170,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 3,003 $738,925,000 $246,062
60-80% 2,965 $774,145,000 $261,094
Under 20% 1,615 $62,225,000 $38,529
40-60% 1,050 $251,890,000 $239,895
20-40% 844 $126,580,000 $149,976
Over 100% 33 $8,355,000 $253,182

IOWA CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 3,003 originations, totaling $738,925,000 in origination value.