IOWA CITY Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Iowa City averaged 5.26% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

The average rate for the prior week (2023-05-18) was 5.18% and one month ago for the week of 2023-04-20, the average rate was 5.08%.

Iowa City's average rate one year ago was 3.84%.

For refis of the same type during the week of 2023-05-25, the average rate was 5.47%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-05-25 6.57%
Iowa City 30 Year Fixed Rate 2023-05-25 5.26%
Iowa City 30 Year Fixed Rate Refi 2023-05-25 5.47%
Iowa City 15 Year Fixed Rate 2023-05-25 5.24%
Iowa City 15 Year Fixed Rate Refi 2023-05-25 4.4%
Iowa City 30 Year FHA 2023-05-25 6.08%
Iowa City 30 Year FHA Refi 2023-05-25 6.61%
Iowa City 30 Year USDA 2023-05-25 6.63%
Iowa City 30 Year USDA Refi 2023-05-25 6.63%
Iowa City 30 Year VA 2023-05-25 5.53%
Iowa City 30 Year VA Refi 2023-05-25 6.31%
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 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.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GREENSTATE CREDIT UNION 1,011 3.90% $1,846
Hills Bank and Trust Company 877 3.99% $1,708
Collins Community Credit Union 76 4.13% $1,761
MidWestOne Bank 75 4.20% $2,028
RESIDENTIAL MORTGAGE NETWORK, INC. 62 4.92% $2,465
VERIDIAN CREDIT UNION 44 4.20% $1,817
CBI Bank & Trust 36 5.07% $2,413
QUICKEN LOANS, LLC 34 4.47% $6,026
U.S. Bank 29 4.75% $3,103
Wells Fargo Bank 21 4.55% $3,803
IOWA BANKERS MORTGAGE CORPORATION 18 4.12% $2,208
LINN AREA 12 4.69% $1,858
DUPACO COMMUNITY 11 4.59% $3,394
LOANDEPOT.COM, LLC 9 4.07% $5,827
RUHL MORTGAGE, LLC 8 5.34% $2,089
UNITED WHOLESALE MORTGAGE, LLC 8 5.79% $5,115
Ohnward Bank & Trust 7 3.45% $3,414
Bank of America 6 4.15% $2,691
Deere Employees Credit Union 6 3.18% $2,437
Lincoln Savings Bank 6 4.82% $3,644
COMMUNITY 1ST CREDIT UNION 6 4.21% $2,101
BankIowa of Cedar Rapids 6 4.44% $1,330
DHI MORTGAGE COMPANY, LTD. 6 4.37% $1,699
JPMorgan Chase Bank 5 4.77% $986
BROKER SOLUTIONS, INC. 5 5.47% $6,464
Associated Bank 5 3.90% $1,692
I. H. MISSISSIPPI VALLEY CREDIT UNION 5 3.20% $1,503
Mr. Cooper ( Nationstar Mortgage ) 5 4.33% $7,615
Northwest Bank 4 4.25% $4,163
NAVY FEDERAL CREDIT UNION 4 5.34% $3,285
ASCENTRA 4 3.94% $2,162
FREEDOM MORTGAGE CORPORATION 4 5.22% $6,011
Luana Savings Bank 3 4.63% $1,396
HOMESIDE FINANCIAL, LLC 3 4.87% $2,608
CARDINAL FINANCIAL 3 4.13% $7,058
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.50% $3,771
AmeriHome Mortgage Company, LLC 2 4.31% $4,737
GREATER IOWA CREDIT UNION 2 4.81% $4,612
PENNYMAC LOAN SERVICES, LLC 2 3.88% $9,191
FIRST 2 4.69% $2,206
GUARANTEED RATE, INC. 2 3.81% $2,950
GUILD MORTGAGE COMPANY 2 3.19% $5,587
The Home Loan Expert LLC 2 6.00% $4,922
The Huntington National Bank 2 4.38% $4,054
Farmers State Bank 2 3.94% $1,734
Midwest Heritage Bank FSB 2 4.56% $2,510
HOMESERVICES LENDING, LLC 2 5.75% $3,693
DuTrac Community Credit Union 2 4.13% $2,062
Vibrant Credit Union 2 3.13% $2,337
Regions Bank 2 5.00% $1,319
INLANTA MORTGAGE, INC. 2 5.38% $2,629
Princeton Mortgage Corporation 2 4.94% $4,359
First Western Trust Bank 2 5.88% $3,794
AMERICAN FINANCING CORPORATION 2 5.50% $8,503
Stifel Bank and Trust 1 2.25% $1,975
The Central Trust Bank 1 2.88% $2,785
The Federal Savings Bank 1 6.00% $3,437
UBS Bank USA 1 3.88% $2,831
UNITED 1 5.38% $8,112
USAA Federal Savings Bank 1 4.13% $10,616
Waterstone Mortgage Corporation 1 5.50% $4,838
ACADEMY MORTGAGE CORPORATION 1 5.13% $6,002
ZILLOW HOME LOANS, LLC 1 3.25% $2,638
Ally Bank 1 3.38% $1,917
AMCAP MORTGAGE, LTD. 1 5.63% $3,705
American Bank and Trust Company 1 5.38% $4,387
AMERICAN FINANCE HOUSE LARIBA 1 5.80% $1,617
American Mortgage & Equity Consultants, Inc. 1 3.25% $2,131
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.50% $6,076
AMERISAVE MORTGAGE CORPORATION 1 6.25% $9,014
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $3,824
ATHAS CAPITAL GROUP, INC. 1 10.92% $5,297
Bankers Trust Company 1 4.63% $2,099
Bank of the West 1 5.88% $5,098
Barrington Bank & Trust Company, N.A. 1 5.99% $3,703
BETTER MORTGAGE CORPORATION 1 2.75% $8,603
BMO Harris Bank 1 5.13% $2,969
BOKF 1 3.25% $2,405
Carrington Mortgage Services, LLC 1 4.25% $3,819
Central Bank 1 4.00% $5,580
CHURCHILL MORTGAGE CORPORATION 1 7.63% $4,337
Commerce Bank 1 2.88% $2,905
Community Choice Credit Union 1 4.38% $1,961
Community Savings Bank 1 5.88% $3,302
CORTRUST MORTGAGE, INC. 1 5.88% $5,013
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 5.00% $4,271
Fidelity Bank & Trust 1 5.63% $2,087
Fifth Third Bank 1 3.49% $7,991
FIRST COMMUNITY MORTGAGE, INC. 1 6.13% $4,332
First Interstate Bank 1 4.13% $1,929
First National Bank of Omaha 1 5.88% $5,447
First State Bank of St. Charles, Missouri 1 6.75% $4,255
GERSHMAN INVESTMENT CORP. 1 5.13% $2,810
Goldwater Bank, N.A. 1 3.50% $2,496
GREAT LAKES 1 2.25% $2,512
Heartland Bank and Trust Company 1 3.50% $1,326
HOMESTAR FINANCIAL CORPORATION 1 5.88% $4,863
Ixonia Bank 1 4.63% $2,704
KELLER MORTGAGE, LLC 1 5.63% $6,843
KeyBank 1 2.88% $1,631
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $8,042
MLD MORTGAGE INC. 1 3.63% $3,589
M&T Bank 1 4.63% $6,248
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.38% $4,621
North American Savings Bank, F.S.B. 1 6.88% $7,300
Northpointe Bank 1 5.75% $14,627
OPEN MORTGAGE, LLC 1 7.63% $5,331
PLANET HOME LENDING, LLC 1 2.75% $4,022
Platinum Home Mortgage Corporation 1 5.49% $2,645
PNC Bank 1 5.50% $6,118
PREMIA MORTGAGE, LLC 1 3.50% $3,183
PURDUE FEDERAL CREDIT UNION 1 4.25% $3,515
ROYAL UNITED MORTGAGE LLC 1 4.00% $4,441
SENB Bank 1 5.13% $2,124
Servion, Inc. 1 3.75% $2,010
SOFI LENDING CORP. 1 4.50% $2,768

IOWA CITY Average Closing Costs & Other Stats

IOWA CITY, IA's 116 lenders originated 6,357 loans during 2022. The total origination value was $1,393,335,000, with an average loan value of $219,181.

IOWA CITY's average closing costs are $2,129.

The top IOWA CITY lender as defined by loan originations is GREENSTATE CREDIT UNION, with 1,011 loans originated. Their average total fees are $1,846, which is $137 higher than the next largest lender, Hills Bank and Trust Company.

The lowest fee IOWA CITY lenders (with over 10 loans originated) are Hills Bank and Trust Company ($1,708), Collins Community Credit Union ($1,761), VERIDIAN CREDIT UNION ($1,817), GREENSTATE CREDIT UNION ($1,846) and LINN AREA ($1,858).

The lowest rate IOWA CITY lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (3.90%), Hills Bank and Trust Company (3.99%), IOWA BANKERS MORTGAGE CORPORATION (4.12%), Collins Community Credit Union (4.13%) and VERIDIAN CREDIT UNION (4.20%).

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Hills Bank and Trust Company $548,780,000 $445,530,000 -18.8% 32.0%
GREENSTATE CREDIT UNION $656,915,000 $441,485,000 -32.8% 31.7%
MidWestOne Bank $92,330,000 $84,935,000 -8.0% 6.1%
RESIDENTIAL MORTGAGE NETWORK, INC. $90,120,000 $47,165,000 -47.7% 3.4%
Collins Community Credit Union $46,810,000 $28,370,000 -39.4% 2.0%
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $2,645,000 $18,850,000 612.7% 1.4%
West Bank $55,850,000 $18,740,000 -66.4% 1.3%
CBI Bank & Trust $35,775,000 $18,330,000 -48.8% 1.3%
U.S. Bank $38,565,000 $17,770,000 -53.9% 1.3%
VERIDIAN CREDIT UNION $40,620,000 $17,685,000 -56.5% 1.3%
Royal Business Bank $17,645,000 n/a 1.3%
Washington State Bank $17,905,000 $14,735,000 -17.7% 1.1%
Central State Bank $10,640,000 $12,700,000 19.4% 0.9%
First Interstate Bank $12,265,000 n/a 0.9%
QUICKEN LOANS, LLC $36,670,000 $11,325,000 -69.1% 0.8%
Farmers State Bank $905,000 $11,040,000 1,119.9% 0.8%
Wells Fargo Bank $19,300,000 $10,465,000 -45.8% 0.8%
Luana Savings Bank $9,665,000 $10,415,000 7.8% 0.7%
IOWA BANKERS MORTGAGE CORPORATION $22,190,000 $9,745,000 -56.1% 0.7%
Two Rivers Bank & Trust $7,970,000 $5,215,000 -34.6% 0.4%
LINN AREA $5,745,000 $4,725,000 -17.8% 0.3%
DUPACO COMMUNITY $6,465,000 $3,760,000 -41.8% 0.3%
Mortgage Research Center, LLC $8,730,000 $3,740,000 -57.2% 0.3%
UNITED WHOLESALE MORTGAGE, LLC $4,115,000 $3,705,000 -10.0% 0.3%
LOANDEPOT.COM, LLC $7,445,000 $3,675,000 -50.6% 0.3%
Bankers Trust Company $4,195,000 $3,665,000 -12.6% 0.3%
BankIowa of Cedar Rapids $4,165,000 $3,530,000 -15.2% 0.3%
Federation Bank $3,200,000 n/a 0.2%
Ohnward Bank & Trust $10,615,000 $3,060,000 -71.2% 0.2%
DHI MORTGAGE COMPANY, LTD. $2,955,000 n/a 0.2%
Lincoln Savings Bank $950,000 $2,930,000 208.4% 0.2%
JPMorgan Chase Bank $5,365,000 $2,790,000 -48.0% 0.2%
Mr. Cooper ( Nationstar Mortgage ) $4,970,000 $2,555,000 -48.6% 0.2%
COMMUNITY 1ST CREDIT UNION $2,080,000 $2,510,000 20.7% 0.2%
American Bank and Trust Company $1,685,000 $2,505,000 48.7% 0.2%
FREEDOM MORTGAGE CORPORATION $6,895,000 $2,345,000 -66.0% 0.2%
PENNYMAC LOAN SERVICES, LLC $11,045,000 $2,340,000 -78.8% 0.2%
RUHL MORTGAGE, LLC $9,230,000 $2,295,000 -75.1% 0.2%
Northwest Bank $1,015,000 $2,255,000 122.2% 0.2%
Servion, Inc. $5,535,000 $2,190,000 -60.4% 0.2%
21ST MORTGAGE CORPORATION $3,195,000 $2,145,000 -32.9% 0.2%
Bank of America $1,205,000 $2,110,000 75.1% 0.2%
Associated Bank $6,480,000 $2,075,000 -68.0% 0.1%
USAA Federal Savings Bank $2,075,000 $2,050,000 -1.2% 0.1%
Deere Employees Credit Union $675,000 $1,960,000 190.4% 0.1%
Cedar Rapids Bank and Trust Company $200,000 $1,955,000 877.5% 0.1%
BROKER SOLUTIONS, INC. $2,670,000 $1,930,000 -27.7% 0.1%
Community Savings Bank $2,400,000 $1,910,000 -20.4% 0.1%
NAVY FEDERAL CREDIT UNION $1,405,000 $1,830,000 30.2% 0.1%
HOMESERVICES LENDING, LLC $3,565,000 $1,785,000 -49.9% 0.1%
HOMESIDE FINANCIAL, LLC $1,600,000 $1,630,000 1.9% 0.1%
I. H. MISSISSIPPI VALLEY CREDIT UNION $2,020,000 $1,540,000 -23.8% 0.1%
Vibrant Credit Union $1,650,000 $1,480,000 -10.3% 0.1%
Mount Vernon Bank and Trust Company $1,745,000 $1,370,000 -21.5% 0.1%
OPEN MORTGAGE, LLC $2,935,000 $1,365,000 -53.5% 0.1%
NEW DAY FINANCIAL, LLC $1,935,000 $1,340,000 -30.7% 0.1%
Heartland Bank and Trust Company $220,000 $1,205,000 447.7% 0.1%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $2,060,000 $1,190,000 -42.2% 0.1%
GUARANTEED RATE, INC. $2,175,000 $1,145,000 -47.4% 0.1%
Community Choice Credit Union $1,055,000 n/a 0.1%
GUILD MORTGAGE COMPANY $2,435,000 $1,020,000 -58.1% 0.1%
ASCENTRA $485,000 $990,000 104.1% 0.1%
FIRST $1,600,000 $990,000 -38.1% 0.1%
Northpointe Bank $4,040,000 $965,000 -76.1% 0.1%
Armed Forces Bank $890,000 n/a 0.1%
Midwest Heritage Bank FSB $1,145,000 $870,000 -24.0% 0.1%
The Home Loan Expert LLC $835,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $755,000 $800,000 6.0% 0.1%
DuTrac Community Credit Union $290,000 $785,000 170.7% 0.1%
KeyBank $785,000 n/a 0.1%
Plains Commerce Bank $785,000 n/a 0.1%
INLANTA MORTGAGE, INC. $1,230,000 $740,000 -39.8% 0.1%
AMERISAVE MORTGAGE CORPORATION $6,270,000 $735,000 -88.3% 0.1%
FIRST COMMUNITY MORTGAGE, INC. $670,000 n/a 0.0%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,680,000 $665,000 -60.4% 0.0%
HOMEXPRESS MORTGAGE CORP. $650,000 n/a 0.0%
Carrington Mortgage Services, LLC $920,000 $645,000 -29.9% 0.0%
PLANET HOME LENDING, LLC $1,455,000 $645,000 -55.7% 0.0%
Farmers State Bank $905,000 $625,000 -30.9% 0.0%
The Huntington National Bank $315,000 $620,000 96.8% 0.0%
The Central Trust Bank $615,000 n/a 0.0%
AMERICAN FINANCE HOUSE LARIBA $605,000 n/a 0.0%
Flagstar Bank, FSB $1,660,000 $565,000 -66.0% 0.0%
Barrington Bank & Trust Company, N.A. $665,000 $540,000 -18.8% 0.0%
First National Bank, Ames, Iowa $530,000 n/a 0.0%
State Bank Financial $525,000 n/a 0.0%
ALLIANT $565,000 $520,000 -8.0% 0.0%
Bank of the West $600,000 $520,000 -13.3% 0.0%
Fifth Third Bank $570,000 $515,000 -9.6% 0.0%
Platinum Home Mortgage Corporation $515,000 n/a 0.0%
CROSSCOUNTRY MORTGAGE, LLC $1,350,000 $510,000 -62.2% 0.0%
First Western Trust Bank $510,000 n/a 0.0%
UNITED $485,000 $510,000 5.2% 0.0%
UBS Bank USA $505,000 n/a 0.0%
Mound City Bank $485,000 n/a 0.0%
EVERETT FINANCIAL, INC. $465,000 n/a 0.0%
AMERICAN PACIFIC MORTGAGE CORPORATION $85,000 $460,000 441.2% 0.0%
Princeton Mortgage Corporation $460,000 n/a 0.0%
ZILLOW HOME LOANS, LLC $480,000 $430,000 -10.4% 0.0%
CALIBER HOME LOANS, INC. $3,525,000 $400,000 -88.7% 0.0%
DAS Acquisition Company, LLC $395,000 n/a 0.0%
Fidelity Bank & Trust $2,330,000 $395,000 -83.0% 0.0%
Goldwater Bank, N.A. $265,000 $395,000 49.1% 0.0%
PURDUE FEDERAL CREDIT UNION $395,000 n/a 0.0%
First State Bank of St. Charles, Missouri $375,000 n/a 0.0%
Farm Credit Mid-America, ACA $3,520,000 $370,000 -89.5% 0.0%
GREATER IOWA CREDIT UNION $370,000 n/a 0.0%
Kerndt Brothers Savings Bank $175,000 $370,000 111.4% 0.0%
Waterstone Mortgage Corporation $1,395,000 $370,000 -73.5% 0.0%
Commerce Bank $365,000 n/a 0.0%
Truist $670,000 $360,000 -46.3% 0.0%
The Security National Bank of Sioux City, Iowa $910,000 $355,000 -61.0% 0.0%
First National Bank of Omaha $345,000 n/a 0.0%
Regions Bank $1,010,000 $345,000 -65.8% 0.0%
BMO Harris Bank $245,000 $335,000 36.7% 0.0%
North American Savings Bank, F.S.B. $310,000 $325,000 4.8% 0.0%
SOFI LENDING CORP. $825,000 $325,000 -60.6% 0.0%
Chicago Mortgage Solutions LLC $195,000 $320,000 64.1% 0.0%
Central Bank $550,000 $315,000 -42.7% 0.0%
MLD MORTGAGE INC. $315,000 n/a 0.0%
AmeriHome Mortgage Company, LLC $870,000 $310,000 -64.4% 0.0%
PNC Bank $1,130,000 $310,000 -72.6% 0.0%
BETTER MORTGAGE CORPORATION $6,900,000 $305,000 -95.6% 0.0%
First Bank $305,000 n/a 0.0%
Paramount Residential Mortgage Group, Inc. $1,770,000 $300,000 -83.1% 0.0%
Farmers National Bank $175,000 $265,000 51.4% 0.0%
Libertyville Bank & Trust $265,000 n/a 0.0%
Magnolia Bank $390,000 $265,000 -32.1% 0.0%
CORTRUST MORTGAGE, INC. $255,000 n/a 0.0%
Ixonia Bank $235,000 $255,000 8.5% 0.0%
SENB Bank $165,000 $255,000 54.5% 0.0%
SOVEREIGN LENDING GROUP INCORPORATED $255,000 n/a 0.0%
MARINE $250,000 n/a 0.0%
LAKEVIEW LOAN SERVICING, LLC $1,355,000 $245,000 -81.9% 0.0%
ACADEMY MORTGAGE CORPORATION $235,000 n/a 0.0%
Bankers' Bank $235,000 n/a 0.0%
Citizens State Bank $235,000 $235,000 0.0% 0.0%
FIRST STATE MORTGAGE SERVICES, LLC $280,000 $235,000 -16.1% 0.0%
GERSHMAN INVESTMENT CORP. $1,115,000 $225,000 -79.8% 0.0%
GREAT LAKES $225,000 n/a 0.0%
PREMIA MORTGAGE, LLC $265,000 $225,000 -15.1% 0.0%
United Bank of Iowa $205,000 $225,000 9.8% 0.0%
Farmers & Merchants Savings Bank $1,795,000 $220,000 -87.7% 0.0%
CMG MORTGAGE, INC. $215,000 n/a 0.0%
Stifel Bank and Trust $255,000 $205,000 -19.6% 0.0%
American Mortgage & Equity Consultants, Inc. $195,000 n/a 0.0%
FRONTIER FINANCIAL, INC. $195,000 n/a 0.0%
HOMESTAR FINANCIAL CORPORATION $195,000 n/a 0.0%
Denver Savings Bank $335,000 $190,000 -43.3% 0.0%
AMERICAN ADVISORS GROUP $150,000 $185,000 23.3% 0.0%
HOMEBRIDGE FINANCIAL SERVICES, INC. $195,000 $185,000 -5.1% 0.0%
KELLER MORTGAGE, LLC $245,000 $185,000 -24.5% 0.0%
Midwest Community Bank $185,000 n/a 0.0%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $175,000 n/a 0.0%
BOKF $740,000 $175,000 -76.4% 0.0%
Bremer Bank $175,000 n/a 0.0%
PLAZA HOME MORTGAGE, INC. $1,040,000 $175,000 -83.2% 0.0%
UNIVERSAL LENDING CORPORATION $520,000 $175,000 -66.3% 0.0%
Citibank $165,000 n/a 0.0%
Figure Lending LLC $110,000 $165,000 50.0% 0.0%
AMCAP MORTGAGE, LTD. $2,510,000 $155,000 -93.8% 0.0%
Blue Grass Savings Bank $155,000 n/a 0.0%
PENTAGON FEDERAL CREDIT UNION $140,000 $155,000 10.7% 0.0%
ROYAL UNITED MORTGAGE LLC $85,000 $155,000 82.4% 0.0%
TRIAD FINANCIAL SERVICES, INC. $175,000 $150,000 -14.3% 0.0%
MID AMERICA MORTGAGE, INC. $245,000 $145,000 -40.8% 0.0%
ATHAS CAPITAL GROUP, INC. $135,000 n/a 0.0%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $135,000 n/a 0.0%
M&T Bank $135,000 n/a 0.0%
National Bank of St. Anne $115,000 n/a 0.0%
RESIDENTIAL BANCORP. $115,000 n/a 0.0%
The Federal Savings Bank $855,000 $115,000 -86.5% 0.0%
NEWREZ LLC $2,325,000 $105,000 -95.5% 0.0%
PHH Mortgage Corporation $265,000 $105,000 -60.4% 0.0%
TOWER $105,000 n/a 0.0%
CEDAR FALLS COMMUNITY CREDIT UNION $170,000 $100,000 -41.2% 0.0%
Ally Bank $1,310,000 $95,000 -92.7% 0.0%
Fidelity Bank $95,000 n/a 0.0%
CHURCHILL MORTGAGE CORPORATION $1,215,000 $85,000 -93.0% 0.0%
MUTUAL OF OMAHA MORTGAGE, INC. $1,755,000 $85,000 -95.2% 0.0%
First Central State Bank $375,000 $70,000 -81.3% 0.0%
SPRING EQ, LLC $65,000 n/a 0.0%
STAR USA FEDERAL CREDIT UNION $45,000 n/a 0.0%
Bank Iowa $665,000 $25,000 -96.2% 0.0%
R.I.A. Federal Credit Union $15,000 n/a 0.0%

IOWA CITY's top lender by overall market share is Hills Bank and Trust Company, with 32.0% market share. In second place, with 31.7%, is GREENSTATE CREDIT UNION, having originated $441,485,000 in loans. In third place, with 6.1%, is MidWestOne Bank, having originated $84,935,000 in loans. In fourth place, with 3.4%, is RESIDENTIAL MORTGAGE NETWORK, INC., having originated $47,165,000 in loans. In fifth place, with 2.0%, is Collins Community Credit Union, having originated $28,370,000 in loans.


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

Realtor.com - IOWA CITY (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 $297,620 (6.7%) $330,694 (9.6%) 1.10 698
2018-02-01 $287,738 (2.8%) $325,130 (6.3%) 1.05 814
2018-03-01 $300,000 (10.8%) $348,102 (15.4%) 1.05 730
2018-04-01 $316,400 (19.4%) $358,351 (20.2%) 1.07 729
2018-05-01 $304,950 (12.1%) $350,856 (17.1%) 1.02 780
2018-06-01 $299,900 (8.1%) $343,284 (12.2%) 1.00 786
2018-07-01 $288,400 (1.2%) $338,663 (7.5%) 0.96 783
2018-08-01 $281,900 (-4.4%) $328,975 (1.5%) 0.94 813
2018-09-01 $281,900 (-5.7%) $348,303 (7.1%) 0.95 854
2018-10-01 $279,925 (-4.4%) $325,506 (1.2%) 0.95 845
2018-11-01 $274,675 (-6.9%) $322,036 (-1.6%) 0.93 804
2018-12-01 $274,900 (-6.3%) $326,923 (-0.2%) 0.95 740
2019-01-01 $279,450 (-6.1%) $321,034 (-2.9%) 0.97 716
2019-02-01 $283,400 (-1.5%) $325,837 (0.2%) 0.96 777
2019-03-01 $270,000 (-7.2%) $308,704 (-11.3%) 0.90 1,113
2019-04-01 $270,000 (-14.3%) $314,514 (-12.2%) 0.86 1,199
2019-05-01 $273,825 (-10.2%) $312,524 (-10.9%) 0.86 1,238
2019-06-01 $279,000 (-7.0%) $320,510 (-6.6%) 0.87 1,179
2019-07-01 $279,450 (-3.1%) $319,422 (-5.7%) 0.87 1,102
2019-08-01 $279,900 (-1.2%) $324,626 (-1.3%) 0.88 1,048
2019-09-01 $279,900 (-1.9%) $321,327 (-7.7%) 0.88 951
2019-10-01 $274,950 (-1.8%) $317,380 (-2.5%) 0.89 990
2019-11-01 $274,900 (0.1%) $318,020 (-1.3%) 0.90 918
2019-12-01 $274,900 (0.0%) $315,430 (-3.5%) 0.92 803
2020-01-01 $274,900 (-1.6%) $309,504 (-3.6%) 0.92 793
2020-02-01 $274,900 (-3.0%) $308,504 (-5.3%) 0.90 952
2020-03-01 $269,950 (-3.1%) $306,587 (-0.7%) 0.85 1,207
2020-04-01 $272,450 (0.5%) $309,775 (-1.5%) 0.85 1,214
2020-05-01 $275,000 (0.4%) $317,715 (1.7%) 0.84 1,208
2020-06-01 $278,400 (-0.2%) $326,791 (2.0%) 0.82 1,180
2020-07-01 $279,450 (0.0%) $326,635 (2.3%) 0.81 1,088
2020-08-01 $279,900 (0.5%) $328,836 (1.3%) 0.80 998
2020-09-01 $271,000 (-2.0%) $324,470 (1.0%) 0.78 990
2020-10-01 $274,900 (0.0%) $324,830 (2.4%) 0.79 936
2020-11-01 $273,450 (-0.5%) $327,140 (2.9%) 0.80 825
2020-12-01 $270,100 (-1.8%) $327,863 (3.9%) 0.80 724
2021-01-01 $279,900 (1.8%) $329,954 (6.6%) 0.84 607
2021-02-01 $280,491 (2.0%) $336,764 (9.2%) 0.82 739
2021-03-01 $278,925 (3.3%) $330,589 (7.8%) 0.79 850
2021-04-01 $280,950 (3.1%) $331,393 (7.0%) 0.76 932
2021-05-01 $289,900 (5.4%) $337,754 (6.3%) 0.77 939
2021-06-01 $299,660 (7.6%) $358,097 (9.6%) 0.79 868
2021-07-01 $289,900 (3.7%) $360,155 (10.3%) 0.76 813
2021-08-01 $298,450 (6.6%) $369,300 (12.3%) 0.80 731
2021-09-01 $300,475 (10.9%) $379,646 (17.0%) 0.80 657
2021-10-01 $298,900 (8.7%) $371,244 (14.3%) 0.80 632
2021-11-01 $299,900 (9.7%) $374,472 (14.5%) 0.80 619
2021-12-01 $294,925 (9.2%) $373,538 (13.9%) 0.80 588
2022-01-01 $310,000 (10.8%) $372,698 (13.0%) 0.84 540
2022-02-01 $315,950 (12.6%) $372,607 (10.6%) 0.82 603
2022-03-01 $309,500 (11.0%) $369,885 (11.9%) 0.77 704
2022-04-01 $315,000 (12.1%) $385,107 (16.2%) 0.75 830
2022-05-01 $323,725 (11.7%) $393,556 (16.5%) 0.74 823
2022-06-01 $333,750 (11.4%) $405,578 (13.3%) 0.74 794
2022-07-01 $339,900 (17.3%) $408,058 (13.3%) 0.77 734
2022-08-01 $339,900 (13.9%) $403,884 (9.4%) 0.79 660
2022-09-01 $337,000 (12.2%) $397,801 (4.8%) 0.79 652
2022-10-01 $339,900 (13.7%) $400,248 (7.8%) 0.80 612
2022-11-01 $343,000 (14.4%) $410,327 (9.6%) 0.82 597
2022-12-01 $349,900 (18.6%) $415,590 (11.3%) 0.86 550
2023-01-01 $359,900 (16.1%) $419,136 (12.5%) 0.89 553
2023-02-01 $357,450 (13.1%) $422,099 (13.3%) 0.86 611
2023-03-01 $357,450 (15.5%) $425,544 (15.1%) 0.84 688
2023-04-01 $354,900 (0.0%) $430,604 (11.8%) 0.83 755
IOWA CITY's median listing price for 2023-04-01 was $354,900, a difference of $39,900 (0.0%) versus the prior year and $-2,550 versus the prior month.

IOWA CITY's median listing price comes in at 83% of the national average.

IOWA CITY's average listing price for 2023-04-01 was $430,604, a difference of $45,497 (11.8%) versus the prior year and $5,060 versus the prior month.

For the 2023-04-01 period, IOWA CITY had 755 MLS listings, a difference of 67 listings (10%) versus the prior month and -75 listings (-9%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - IOWA CITY (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 46 days 2,137 sqft
2018-02-01 40 days 2,131 sqft
2018-03-01 50 days 2,190 sqft
2018-04-01 54 days 2,201 sqft
2018-05-01 60 days 2,179 sqft
2018-06-01 64 days 2,176 sqft
2018-07-01 62 days 2,130 sqft
2018-08-01 65 days 2,106 sqft
2018-09-01 64 days 2,099 sqft
2018-10-01 70 days 2,093 sqft
2018-11-01 77 days 2,060 sqft
2018-12-01 95 days 2,089 sqft
2019-01-01 50 days 2,092 sqft
2019-02-01 42 days 2,090 sqft
2019-03-01 57 days 2,049 sqft
2019-04-01 51 days 2,047 sqft
2019-05-01 56 days 2,045 sqft
2019-06-01 61 days 2,078 sqft
2019-07-01 62 days 2,098 sqft
2019-08-01 66 days 2,107 sqft
2019-09-01 71 days 2,053 sqft
2019-10-01 72 days 2,029 sqft
2019-11-01 84 days 2,030 sqft
2019-12-01 103 days 2,019 sqft
2020-01-01 72 days 1,972 sqft
2020-02-01 41 days 1,941 sqft
2020-03-01 53 days 1,966 sqft
2020-04-01 59 days 1,984 sqft
2020-05-01 68 days 2,002 sqft
2020-06-01 75 days 2,008 sqft
2020-07-01 72 days 1,995 sqft
2020-08-01 71 days 1,989 sqft
2020-09-01 70 days 1,940 sqft
2020-10-01 71 days 1,920 sqft
2020-11-01 76 days 1,950 sqft
2020-12-01 85 days 1,891 sqft
2021-01-01 54 days 1,888 sqft
2021-02-01 39 days 1,846 sqft
2021-03-01 42 days 1,828 sqft
2021-04-01 40 days 1,842 sqft
2021-05-01 47 days 1,852 sqft
2021-06-01 49 days 1,907 sqft
2021-07-01 50 days 1,906 sqft
2021-08-01 50 days 1,868 sqft
2021-09-01 59 days 1,898 sqft
2021-10-01 53 days 1,856 sqft
2021-11-01 52 days 1,845 sqft
2021-12-01 63 days 1,807 sqft
2022-01-01 50 days 1,868 sqft
2022-02-01 48 days 1,876 sqft
2022-03-01 37 days 1,873 sqft
2022-04-01 35 days 1,869 sqft
2022-05-01 45 days 1,935 sqft
2022-06-01 49 days 1,972 sqft
2022-07-01 51 days 1,972 sqft
2022-08-01 57 days 2,004 sqft
2022-09-01 53 days 2,025 sqft
2022-10-01 59 days 2,022 sqft
2022-11-01 69 days 2,098 sqft
2022-12-01 85 days 2,093 sqft
2023-01-01 56 days 2,120 sqft
2023-02-01 41 days 2,113 sqft
2023-03-01 47 days 2,119 sqft
2023-04-01 43 days 2,108 sqft
IOWA CITY's median listing age (time on market) for 2023-04-01 was 43 days. This is 23% longer than the same period one year ago.

IOWA CITY's median square footage for active listings during the 2023-04-01 period was 2,108 sqft. One year prior, the average listing was 1,869 sqft.

IOWA CITY, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 3,759 $913,055,000 $242,898
Refi 820 $225,750,000 $275,305
Cash Out Refi 709 $156,985,000 $221,417
Home Improvement 658 $47,780,000 $72,614
Other 410 $36,660,000 $89,415
NA 1 $13,105,000 $13,105,000

Iowa City's most frequently cited loan purpose was Home Purchase, with 3,759 originations. The 2nd most popular reason was Refi, with 820 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 2,234 $565,250,000 $253,021
4-5% 1,401 $276,585,000 $197,420
5-6% 1,170 $220,550,000 $188,504
2.5-3% 524 $133,230,000 $254,256
6-7% 410 $53,480,000 $130,439
<2.5% 195 $37,135,000 $190,436
7-8% 103 $11,355,000 $110,243
Over 8% 61 $3,555,000 $58,279

During 2022, Iowa City's most frequently originated rate bucket was 3-4%, with 2,234 originations.

Loan Sizing (IOWA CITY, IA MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 2,241 $99,115,000 $44,228
$200k-400k 1,900 $521,230,000 $274,332
$100k-200k 1,623 $243,245,000 $149,874
$400k-600k 390 $184,370,000 $472,744
$600k-1000k 150 $103,890,000 $692,600
$Over $1MM 53 $241,485,000 $4,556,321

IOWA CITY's loan sizing saw the bucket of loans from $100,000 or less with 2,241 originations, totaling $99,115,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 2,108 $571,650,000 $271,181
Under 20% 1,527 $65,435,000 $42,852
60-80% 1,201 $458,145,000 $381,470
20-40% 662 $74,000,000 $111,782
40-60% 530 $114,360,000 $215,774
Over 100% 30 $10,970,000 $365,667

IOWA CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,108 originations, totaling $571,650,000 in origination value.