IOWA CITY Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Iowa City averaged
6.76%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.79% and
one month ago for the week of 2025-05-15, the
average rate was 6.66%.
Iowa City's average rate one year ago was 6.5%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.47%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Iowa City 30 Year Fixed Rate | 2025-06-18 | 6.76% |
| Iowa City 30 Year Fixed Rate Refi | 2025-06-18 | 6.47% |
| Iowa City 15 Year Fixed Rate | 2025-06-18 | 5.97% |
| Iowa City 15 Year Fixed Rate Refi | 2025-06-18 | 6.58% |
| Iowa City 30 Year FHA | 2025-06-18 | 0.04% |
| Iowa City 30 Year FHA Refi | 2025-06-18 | 0.1% |
| Iowa City 30 Year USDA | 2025-06-18 | 0.2% |
| Iowa City 30 Year USDA Refi | 2025-06-18 | -0.1% |
| Iowa City 30 Year VA | 2025-06-18 | 0.11% |
| Iowa City 30 Year VA Refi | 2025-06-18 | -0.1% |
IOWA CITY 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 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.).
IOWA CITY Average Closing Costs & Other Stats
IOWA CITY, IA's 82 lenders originated 4,095
loans during 2024. The total origination value was $875,655,000, with an average loan value of
$213,835.
IOWA CITY's average closing costs are $2,262.
The top IOWA CITY lender as defined by loan originations is GREENSTATE CREDIT UNION, with
617 loans originated. Their average total fees are
$1,848, which is $12
lower than the next largest lender,
Hills Bank and Trust Company.
The lowest fee IOWA CITY lenders (with over 10 loans originated) are
GREENSTATE CREDIT UNION ($1,848), Hills Bank and Trust Company ($1,860), VERIDIAN CREDIT UNION ($1,943), Collins Community Credit Union ($2,281) and MidWestOne Bank ($2,434).
The lowest rate IOWA CITY lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.89%), VERIDIAN CREDIT UNION (6.10%), IOWA BANKERS MORTGAGE CORPORATION (6.33%), Hills Bank and Trust Company (6.40%) and GREENSTATE CREDIT UNION (6.40%).
IOWA CITY, 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 |
|---|---|---|---|---|
| GREENSTATE CREDIT UNION | $254,135,000 | $280,530,000 | 10.4% | 32.0% |
| Hills Bank and Trust Company | $295,395,000 | $234,635,000 | -20.6% | 26.8% |
| RESIDENTIAL MORTGAGE NETWORK, INC. | $41,095,000 | $55,305,000 | 34.6% | 6.3% |
| MidWestOne Bank | $24,230,000 | $37,755,000 | 55.8% | 4.3% |
| VERIDIAN CREDIT UNION | $11,335,000 | $23,490,000 | 107.2% | 2.7% |
| DHI MORTGAGE COMPANY, LTD. | $7,745,000 | $19,935,000 | 157.4% | 2.3% |
| Farmers State Bank | $3,880,000 | $15,945,000 | 311.0% | 1.8% |
| CBI Bank & Trust | $10,665,000 | $13,445,000 | 26.1% | 1.5% |
| QUICKEN LOANS, LLC | $8,730,000 | $13,140,000 | 50.5% | 1.5% |
| Washington State Bank | $10,650,000 | $11,635,000 | 9.2% | 1.3% |
| U.S. Bank | $7,615,000 | $8,575,000 | 12.6% | 1.0% |
| Farmers State Bank | $3,880,000 | $7,050,000 | 81.7% | 0.8% |
| Two Rivers Bank & Trust | $4,735,000 | $6,915,000 | 46.0% | 0.8% |
| Collins Community Credit Union | $11,130,000 | $6,795,000 | -38.9% | 0.8% |
| Ohnward Bank & Trust | $1,585,000 | $6,755,000 | 326.2% | 0.8% |
| IOWA BANKERS MORTGAGE CORPORATION | $3,935,000 | $6,360,000 | 61.6% | 0.7% |
| West Bank | $5,880,000 | $4,955,000 | -15.7% | 0.6% |
| Bridge Community Bank | $3,105,000 | $4,260,000 | 37.2% | 0.5% |
| Peoples Bank | $4,195,000 | n/a | 0.5% | |
| UNITED WHOLESALE MORTGAGE, LLC | $2,825,000 | $3,995,000 | 41.4% | 0.5% |
| FLAT BRANCH MORTGAGE, INC. | $1,130,000 | $3,885,000 | 243.8% | 0.4% |
| Federation Bank | $1,515,000 | $3,690,000 | 143.6% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $225,000 | $3,340,000 | 1,384.4% | 0.4% |
| Wells Fargo Bank | $1,245,000 | $3,325,000 | 167.1% | 0.4% |
| DUPACO COMMUNITY | $3,830,000 | $3,295,000 | -14.0% | 0.4% |
| Farm Credit Mid-America, ACA | $1,780,000 | $3,195,000 | 79.5% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $2,425,000 | $3,060,000 | 26.2% | 0.3% |
| JPMorgan Chase Bank | $2,850,000 | $2,720,000 | -4.6% | 0.3% |
| BROKER SOLUTIONS, INC. | $1,810,000 | $2,680,000 | 48.1% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $2,290,000 | $2,460,000 | 7.4% | 0.3% |
| The Huntington National Bank | $2,600,000 | $2,205,000 | -15.2% | 0.3% |
| HOMESIDE FINANCIAL, LLC | $1,975,000 | $2,025,000 | 2.5% | 0.2% |
| COMMUNITY 1ST CREDIT UNION | $1,595,000 | $2,020,000 | 26.6% | 0.2% |
| Mortgage Research Center, LLC | $4,345,000 | $1,965,000 | -54.8% | 0.2% |
| Cedar Rapids Bank and Trust Company | $4,110,000 | $1,700,000 | -58.6% | 0.2% |
| Deere Employees Credit Union | $400,000 | $1,655,000 | 313.8% | 0.2% |
| Quad City Bank and Trust Company | $1,510,000 | $1,555,000 | 3.0% | 0.2% |
| Central State Bank | $1,830,000 | $1,545,000 | -15.6% | 0.2% |
| 21ST MORTGAGE CORPORATION | $3,170,000 | $1,515,000 | -52.2% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $640,000 | $1,515,000 | 136.7% | 0.2% |
| LOANDEPOT.COM, LLC | $655,000 | $1,510,000 | 130.5% | 0.2% |
| Farmers Savings Bank & Trust | $1,505,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $615,000 | $1,505,000 | 144.7% | 0.2% |
| RUHL MORTGAGE, LLC | $2,680,000 | $1,505,000 | -43.8% | 0.2% |
| VisionBank of Iowa | $1,495,000 | n/a | 0.2% | |
| HOMESERVICES LENDING, LLC | $690,000 | $1,435,000 | 108.0% | 0.2% |
| Central Bank | $375,000 | $1,275,000 | 240.0% | 0.1% |
| V.I.P. MORTGAGE, INC. | $1,255,000 | n/a | 0.1% | |
| LINN AREA | $3,220,000 | $1,240,000 | -61.5% | 0.1% |
| Morgan Stanley Private Bank | $785,000 | $1,215,000 | 54.8% | 0.1% |
| Old National Bank | $1,080,000 | $1,200,000 | 11.1% | 0.1% |
| First Interstate Bank | $1,465,000 | $1,180,000 | -19.5% | 0.1% |
| BMO Harris Bank | $1,310,000 | $1,115,000 | -14.9% | 0.1% |
| American Bank and Trust Company | $1,335,000 | $1,090,000 | -18.4% | 0.1% |
| CMG MORTGAGE, INC. | $1,060,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $445,000 | $970,000 | 118.0% | 0.1% |
| Goldman Sachs Bank USA | $965,000 | n/a | 0.1% | |
| Horizon Bank | $905,000 | n/a | 0.1% | |
| Fidelity Bank & Trust | $745,000 | $885,000 | 18.8% | 0.1% |
| Great Southern Bank | $115,000 | $875,000 | 660.9% | 0.1% |
| Mount Vernon Bank and Trust Company | $2,185,000 | $870,000 | -60.2% | 0.1% |
| Regions Bank | $685,000 | $830,000 | 21.2% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $795,000 | n/a | 0.1% | |
| Hinsdale Bank & Trust Company | $775,000 | n/a | 0.1% | |
| Truist | $315,000 | $765,000 | 142.9% | 0.1% |
| Plains Commerce Bank | $535,000 | $750,000 | 40.2% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $195,000 | $745,000 | 282.1% | 0.1% |
| GUILD MORTGAGE COMPANY | $890,000 | $740,000 | -16.9% | 0.1% |
| Northwest Bank | $530,000 | $695,000 | 31.1% | 0.1% |
| Heartland Bank and Trust Company | $4,695,000 | $680,000 | -85.5% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $670,000 | $675,000 | 0.7% | 0.1% |
| NBKC BANK | $670,000 | n/a | 0.1% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $165,000 | $635,000 | 284.8% | 0.1% |
| Lincoln Savings Bank | $125,000 | $625,000 | 400.0% | 0.1% |
| UIF CORPORATION | $620,000 | n/a | 0.1% | |
| CIBM Bank | $615,000 | n/a | 0.1% | |
| MLD MORTGAGE INC. | $185,000 | $600,000 | 224.3% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $590,000 | n/a | 0.1% | |
| ALLIANT CREDIT UNION | $575,000 | n/a | 0.1% | |
| Farmers National Bank | $575,000 | n/a | 0.1% | |
| Luana Savings Bank | $1,495,000 | $575,000 | -61.5% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $570,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $385,000 | $570,000 | 48.1% | 0.1% |
| EMBRACE HOME LOANS, INC. | $465,000 | $565,000 | 21.5% | 0.1% |
| Bank of England | $545,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,165,000 | $525,000 | -54.9% | 0.1% |
| Hawthorn Bank | $515,000 | n/a | 0.1% | |
| Midwest Heritage Bank FSB | $1,185,000 | $515,000 | -56.5% | 0.1% |
| GERSHMAN INVESTMENT CORP. | $255,000 | $500,000 | 96.1% | 0.1% |
| Figure Lending LLC | $135,000 | $465,000 | 244.4% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $390,000 | $460,000 | 17.9% | 0.1% |
| BETTER MORTGAGE CORPORATION | $445,000 | n/a | 0.1% | |
| Community Choice Credit Union | $430,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $440,000 | $420,000 | -4.5% | 0.0% |
| CHURCHILL MORTGAGE CORPORATION | $270,000 | $385,000 | 42.6% | 0.0% |
| Royal Credit Union | $355,000 | n/a | 0.0% | |
| Cornerstone First Mortgage, Inc | $345,000 | n/a | 0.0% | |
| OPEN MORTGAGE, LLC | $1,065,000 | $330,000 | -69.0% | 0.0% |
| Fairfax State Savings Bank | $410,000 | $315,000 | -23.2% | 0.0% |
| Farmers Bank & Trust | $315,000 | n/a | 0.0% | |
| Ally Bank | $305,000 | n/a | 0.0% | |
| LAND HOME FINANCIAL SERVICES, INC. | $305,000 | n/a | 0.0% | |
| Meridian Bank Corporation | $305,000 | n/a | 0.0% | |
| GUARANTEED RATE, INC. | $410,000 | $280,000 | -31.7% | 0.0% |
| Hiawatha Bank and Trust | $685,000 | $275,000 | -59.9% | 0.0% |
| Texana Bank | $265,000 | n/a | 0.0% | |
| DuTrac Community Credit Union | $65,000 | $255,000 | 292.3% | 0.0% |
| EMM LOANS LLC | $355,000 | $255,000 | -28.2% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $85,000 | $255,000 | 200.0% | 0.0% |
| City State Bank | $245,000 | n/a | 0.0% | |
| Bankers Trust Company | $2,980,000 | $240,000 | -91.9% | 0.0% |
| Stifel Bank and Trust | $295,000 | $235,000 | -20.3% | 0.0% |
| AMERICAN FINANCING CORPORATION | $225,000 | n/a | 0.0% | |
| The Federal Savings Bank | $245,000 | $225,000 | -8.2% | 0.0% |
| Flagstar Bank, FSB | $300,000 | $220,000 | -26.7% | 0.0% |
| Gateway First Bank | $215,000 | n/a | 0.0% | |
| GSF Mortgage Corporation | $215,000 | n/a | 0.0% | |
| AmeriHome Mortgage Company, LLC | $205,000 | n/a | 0.0% | |
| Grinnell State Bank | $1,010,000 | $205,000 | -79.7% | 0.0% |
| NEW DAY FINANCIAL, LLC | $145,000 | $205,000 | 41.4% | 0.0% |
| UNION HOME MORTGAGE CORP. | $205,000 | n/a | 0.0% | |
| VILLAGE CAPITAL MORTGAGE | $205,000 | n/a | 0.0% | |
| CROSSCOUNTRY MORTGAGE, LLC | $615,000 | $195,000 | -68.3% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $185,000 | n/a | 0.0% | |
| Coastal Community Bank | $380,000 | $185,000 | -51.3% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $285,000 | $185,000 | -35.1% | 0.0% |
| First National Bank, Ames, Iowa | $155,000 | $185,000 | 19.4% | 0.0% |
| GENEVA FINANCIAL, LLC | $185,000 | n/a | 0.0% | |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $325,000 | $185,000 | -43.1% | 0.0% |
| West Gate Bank | $185,000 | n/a | 0.0% | |
| General Mortgage Capital Corporation | $175,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $155,000 | $165,000 | 6.5% | 0.0% |
| Busey Bank | $290,000 | $145,000 | -50.0% | 0.0% |
| Century Mortgage Company DBA Century Lending Company | $145,000 | n/a | 0.0% | |
| Union State Bank | $145,000 | n/a | 0.0% | |
| ZILLOW HOME LOANS, LLC | $530,000 | $145,000 | -72.6% | 0.0% |
| Exchange State Bank | $135,000 | n/a | 0.0% | |
| MARINE | $65,000 | $135,000 | 107.7% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $135,000 | n/a | 0.0% | |
| POLARIS HOME FUNDING CORP. | $125,000 | n/a | 0.0% | |
| Stillman Bank | $115,000 | n/a | 0.0% | |
| BankIowa of Cedar Rapids | $1,130,000 | $110,000 | -90.3% | 0.0% |
| Bank of America | $490,000 | $105,000 | -78.6% | 0.0% |
| R.I.A. Federal Credit Union | $105,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $95,000 | n/a | 0.0% | |
| Premier Credit Union | $65,000 | $95,000 | 46.2% | 0.0% |
| ROYAL UNITED MORTGAGE LLC | $95,000 | n/a | 0.0% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $390,000 | $85,000 | -78.2% | 0.0% |
| Citizens Bank | $320,000 | $85,000 | -73.4% | 0.0% |
| Community Savings Bank | $470,000 | $65,000 | -86.2% | 0.0% |
| Carrington Mortgage Services, LLC | $280,000 | $55,000 | -80.4% | 0.0% |
| SPIRE Credit Union | $55,000 | n/a | 0.0% | |
| ASCENTRA | $75,000 | $25,000 | -66.7% | 0.0% |
| Baxter Credit Union | $25,000 | n/a | 0.0% | |
| PNC Bank | $15,000 | n/a | 0.0% |
IOWA CITY's top lender by overall market share is GREENSTATE CREDIT UNION, with 32.0% market share. In second place, with 26.8%, is Hills Bank and Trust Company, having originated $234,635,000 in loans. In third place, with 6.3%, is RESIDENTIAL MORTGAGE NETWORK, INC., having originated $55,305,000 in loans. In fourth place, with 4.3%, is MidWestOne Bank, having originated $37,755,000 in loans. In fifth place, with 2.7%, is VERIDIAN CREDIT UNION, having originated $23,490,000 in loans.
IOWA CITY, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,456 | $644,540,000 | $262,435 |
| Refi | 618 | $129,830,000 | $210,081 |
| Home Improvement | 398 | $27,890,000 | $70,075 |
| Other | 332 | $24,950,000 | $75,151 |
| Cash Out Refi | 291 | $48,445,000 | $166,478 |
Iowa City's most frequently cited loan purpose was Home Purchase, with 2,456 originations. The 2nd most popular reason was Refi, with 618 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,493 | $386,585,000 | $258,932 |
| 7-8% | 997 | $147,605,000 | $148,049 |
| Over 8% | 716 | $89,390,000 | $124,846 |
| 5-6% | 622 | $171,430,000 | $275,611 |
| 4-5% | 50 | $13,680,000 | $273,600 |
| <2.5% | 20 | $2,040,000 | $102,000 |
| 3-4% | 7 | $13,925,000 | $1,989,286 |
| 2.5-3% | 3 | $765,000 | $255,000 |
During 2024, Iowa City's most frequently originated rate bucket was 6-7%, with 1,493 originations.
Loan Sizing (IOWA CITY, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,348 | $372,380,000 | $276,246 |
| $100,000 or less | 1,329 | $65,665,000 | $49,409 |
| $100k-200k | 996 | $147,300,000 | $147,892 |
| $400k-600k | 281 | $133,495,000 | $475,071 |
| $600k-1000k | 116 | $84,780,000 | $730,862 |
| $Over $1MM | 25 | $72,035,000 | $2,881,400 |
IOWA CITY's loan sizing saw the bucket of loans from $200k-400k with 1,348 originations, totaling $372,380,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,128 | $340,340,000 | $301,720 |
| 60-80% | 917 | $261,365,000 | $285,022 |
| Under 20% | 868 | $43,550,000 | $50,173 |
| 20-40% | 595 | $68,825,000 | $115,672 |
| 40-60% | 343 | $88,455,000 | $257,886 |
| Over 100% | 22 | $6,390,000 | $290,455 |
IOWA CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,128 originations, totaling $340,340,000 in origination value.