Marshalltown Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Marshalltown averaged
6.67%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.3% and
one month ago for the week of 2024-10-03, the
average rate was 6.1%.
Marshalltown's average rate one year ago was 7.74%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.79%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Marshalltown 30 Year Fixed Rate | 2024-11-07 | 6.67% |
| Marshalltown 30 Year Fixed Rate Refi | 2024-11-07 | 6.79% |
| Marshalltown 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Marshalltown 15 Year Fixed Rate Refi | 2024-11-07 | 6.2% |
| Marshalltown 30 Year FHA | 2024-11-07 | 6.78% |
| Marshalltown 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Marshalltown 30 Year USDA | 2024-11-07 | 6.28% |
| Marshalltown 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Marshalltown 30 Year VA | 2024-11-07 | 6.44% |
| Marshalltown 30 Year VA Refi | 2024-11-07 | 6.34% |
Marshalltown 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 Marshalltown, 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.).
Marshalltown Average Closing Costs & Other Stats
Marshalltown, IA's 43 lenders originated 494
loans during 2023. The total origination value was $63,920,000, with an average loan value of
$129,393.
Marshalltown's average closing costs are $3,750.
The top Marshalltown lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with
35 loans originated. Their average total fees are
$2,740, which is $1,589
lower than the next largest lender,
GUARANTEED RATE, INC..
The lowest fee Marshalltown lenders (with over 10 loans originated) are
VERIDIAN CREDIT UNION ($1,954), GREENSTATE CREDIT UNION ($2,157), COMMUNITY 1ST CREDIT UNION ($2,677), IOWA BANKERS MORTGAGE CORPORATION ($2,740) and MEMBERS1st Community Credit Union ($3,974).
The lowest rate Marshalltown lenders (with over 10 loans originated) are
MEMBERS1st Community Credit Union (5.97%), IOWA BANKERS MORTGAGE CORPORATION (6.30%), COMMUNITY 1ST CREDIT UNION (6.48%), VERIDIAN CREDIT UNION (6.61%) and GREENSTATE CREDIT UNION (6.64%).
Marshalltown, 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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| IOWA BANKERS MORTGAGE CORPORATION | $9,720,000 | $6,830,000 | -29.7% | 10.7% |
| GUARANTEED RATE, INC. | $9,495,000 | $6,645,000 | -30.0% | 10.4% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,855,000 | $3,320,000 | 79.0% | 5.2% |
| GREENSTATE CREDIT UNION | $3,365,000 | $2,920,000 | -13.2% | 4.6% |
| QUICKEN LOANS, LLC | $6,070,000 | $2,545,000 | -58.1% | 4.0% |
| Wells Fargo Bank | $3,120,000 | $2,250,000 | -27.9% | 3.5% |
| VERIDIAN CREDIT UNION | $3,110,000 | $2,190,000 | -29.6% | 3.4% |
| Lincoln Savings Bank | $1,580,000 | $2,010,000 | 27.2% | 3.1% |
| GNB Bank | $3,730,000 | $1,865,000 | -50.0% | 2.9% |
| MEMBERS1st Community Credit Union | $3,735,000 | $1,850,000 | -50.5% | 2.9% |
| MidWestOne Bank | $2,650,000 | $1,645,000 | -37.9% | 2.6% |
| COMMUNITY 1ST CREDIT UNION | $170,000 | $1,560,000 | 817.6% | 2.4% |
| GUILD MORTGAGE COMPANY | $335,000 | $1,455,000 | 334.3% | 2.3% |
| Mortgage Research Center, LLC | $1,770,000 | $1,445,000 | -18.4% | 2.3% |
| U.S. Bank | $2,385,000 | $1,365,000 | -42.8% | 2.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $370,000 | $1,355,000 | 266.2% | 2.1% |
| Northwest Bank | $525,000 | $1,205,000 | 129.5% | 1.9% |
| Ixonia Bank | $125,000 | $1,165,000 | 832.0% | 1.8% |
| Farm Credit Mid-America, ACA | $95,000 | $1,085,000 | 1,042.1% | 1.7% |
| BROKER SOLUTIONS, INC. | $400,000 | $915,000 | 128.8% | 1.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,240,000 | $875,000 | -29.4% | 1.4% |
| Home Federal Savings Bank | $595,000 | $830,000 | 39.5% | 1.3% |
| First Bankers Trust Company | $790,000 | n/a | 1.2% | |
| Bank Iowa | $240,000 | $700,000 | 191.7% | 1.1% |
| First Interstate Bank | $2,030,000 | $570,000 | -71.9% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $385,000 | $545,000 | 41.6% | 0.9% |
| First National Bank, Ames, Iowa | $6,275,000 | $525,000 | -91.6% | 0.8% |
| GERSHMAN INVESTMENT CORP. | $675,000 | $480,000 | -28.9% | 0.8% |
| HOMESIDE FINANCIAL, LLC | $360,000 | $465,000 | 29.2% | 0.7% |
| Flagstar Bank, FSB | $1,440,000 | $435,000 | -69.8% | 0.7% |
| HOMESERVICES LENDING, LLC | $420,000 | n/a | 0.7% | |
| NEWREZ LLC | $410,000 | n/a | 0.6% | |
| V.I.P. MORTGAGE, INC. | $95,000 | $370,000 | 289.5% | 0.6% |
| Barrington Bank & Trust Company, N.A. | $230,000 | $365,000 | 58.7% | 0.6% |
| Farmers State Bank | $155,000 | $285,000 | 83.9% | 0.4% |
| Community Choice Credit Union | $380,000 | $255,000 | -32.9% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $75,000 | $250,000 | 233.3% | 0.4% |
| OPEN MORTGAGE, LLC | $635,000 | $245,000 | -61.4% | 0.4% |
| USAA Federal Savings Bank | $335,000 | $225,000 | -32.8% | 0.4% |
| Availa Bank | $1,170,000 | $220,000 | -81.2% | 0.3% |
| Tradesmen Community Credit Union | $220,000 | n/a | 0.3% | |
| COMPASS MORTGAGE, INC. | $330,000 | $205,000 | -37.9% | 0.3% |
| DUPACO COMMUNITY | $925,000 | $205,000 | -77.8% | 0.3% |
| ENVOY MORTGAGE, LTD | $205,000 | n/a | 0.3% | |
| Capitol Federal Savings Bank | $405,000 | $185,000 | -54.3% | 0.3% |
| Figure Lending LLC | $185,000 | n/a | 0.3% | |
| LOANDEPOT.COM, LLC | $450,000 | $185,000 | -58.9% | 0.3% |
| PREMIA MORTGAGE, LLC | $135,000 | $185,000 | 37.0% | 0.3% |
| Gateway First Bank | $125,000 | $175,000 | 40.0% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $130,000 | $175,000 | 34.6% | 0.3% |
| Green Belt Bank & Trust | $120,000 | $170,000 | 41.7% | 0.3% |
| Ally Bank | $400,000 | $165,000 | -58.8% | 0.3% |
| Fortress Bank | $155,000 | n/a | 0.2% | |
| CMG MORTGAGE, INC. | $145,000 | n/a | 0.2% | |
| Lakeview Community Capital, LLC | $145,000 | n/a | 0.2% | |
| STOCKTON MORTGAGE CORPORATION | $145,000 | n/a | 0.2% | |
| Coastal Community Bank | $140,000 | n/a | 0.2% | |
| Great Southern Bank | $670,000 | $135,000 | -79.9% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $115,000 | $135,000 | 17.4% | 0.2% |
| FRONTIER FINANCIAL, INC. | $220,000 | $125,000 | -43.2% | 0.2% |
| LAND HOME FINANCIAL SERVICES, INC. | $525,000 | $125,000 | -76.2% | 0.2% |
| MARINE | $175,000 | $120,000 | -31.4% | 0.2% |
| CARDINAL FINANCIAL | $575,000 | $115,000 | -80.0% | 0.2% |
| FREEDOM MORTGAGE CORPORATION | $125,000 | $115,000 | -8.0% | 0.2% |
| Luana Savings Bank | $40,000 | $115,000 | 187.5% | 0.2% |
| TOWNE MORTGAGE COMPANY | $115,000 | n/a | 0.2% | |
| FINANCE OF AMERICA REVERSE LLC | $105,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $140,000 | $105,000 | -25.0% | 0.2% |
| Bankers Trust Company | $260,000 | $100,000 | -61.5% | 0.2% |
| Bank of the West | $120,000 | $95,000 | -20.8% | 0.1% |
| Servion, Inc. | $95,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $555,000 | $85,000 | -84.7% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $65,000 | n/a | 0.1% | |
| St Charles Bank & Trust | $65,000 | n/a | 0.1% | |
| ALLIANT | $320,000 | $35,000 | -89.1% | 0.1% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $690,000 | $25,000 | -96.4% | 0.0% |
| Regions Bank | $25,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $1,045,000 | $15,000 | -98.6% | 0.0% |
Marshalltown's top lender by overall market share is IOWA BANKERS MORTGAGE CORPORATION, with 10.7% market share. In second place, with 10.4%, is GUARANTEED RATE, INC., having originated $6,645,000 in loans. In third place, with 5.2%, is AMERICAN PACIFIC MORTGAGE CORPORATION, having originated $3,320,000 in loans. In fourth place, with 4.6%, is GREENSTATE CREDIT UNION, having originated $2,920,000 in loans. In fifth place, with 4.0%, is QUICKEN LOANS, LLC, having originated $2,545,000 in loans.
Marshalltown, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 347 | $52,625,000 | $151,657 |
| Cash Out Refi | 44 | $4,720,000 | $107,273 |
| Home Improvement | 39 | $2,505,000 | $64,231 |
| Other | 32 | $1,640,000 | $51,250 |
| Refi | 32 | $2,430,000 | $75,938 |
Marshalltown's most frequently cited loan purpose was Home Purchase, with 347 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 196 | $30,240,000 | $154,286 |
| 7-8% | 105 | $14,155,000 | $134,810 |
| 5-6% | 72 | $9,380,000 | $130,278 |
| Over 8% | 49 | $2,685,000 | $54,796 |
| <2.5% | 8 | $50,000 | $6,250 |
| 4-5% | 5 | $475,000 | $95,000 |
| 3-4% | 3 | $205,000 | $68,333 |
During 2023, Marshalltown's most frequently originated rate bucket was 6-7%, with 196 originations.
Loan Sizing (Marshalltown, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 208 | $11,450,000 | $55,048 |
| $100k-200k | 208 | $30,100,000 | $144,712 |
| $200k-400k | 71 | $18,235,000 | $256,831 |
| $400k-600k | 4 | $1,910,000 | $477,500 |
| $600k-1000k | 3 | $2,225,000 | $741,667 |
Marshalltown's loan sizing saw the bucket of loans from $100,000 or less with 208 originations, totaling $11,450,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 227 | $37,725,000 | $166,189 |
| 60-80% | 91 | $12,695,000 | $139,505 |
| 20-40% | 45 | $2,485,000 | $55,222 |
| Under 20% | 44 | $1,150,000 | $26,136 |
| 40-60% | 28 | $2,830,000 | $101,071 |
Marshalltown's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 227 originations, totaling $37,725,000 in origination value.