Muscatine Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Muscatine averaged 6.61% 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 6.55% and one month ago for the week of 2023-08-10, the average rate was 6.49%.

    Muscatine's average rate one year ago was 5.42%.

    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%
    Muscatine 30 Year Fixed Rate 2023-09-14 6.61%
    Muscatine 30 Year Fixed Rate Refi 2023-09-14 7.68%
    Muscatine 15 Year Fixed Rate 2023-09-14 6.71%
    Muscatine 15 Year Fixed Rate Refi 2023-09-14 6.41%
    Muscatine 30 Year FHA 2023-09-14 6.82%
    Muscatine 30 Year FHA Refi 2023-09-14 6.99%
    Muscatine 30 Year USDA 2023-09-14 6.78%
    Muscatine 30 Year USDA Refi 2023-09-14 7.18%
    Muscatine 30 Year VA 2023-09-14 6.61%
    Muscatine 30 Year VA Refi 2023-09-14 7.01%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Muscatine, IA.

    Muscatine 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 Muscatine, 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
    CBI Bank & Trust 57 5.36% $2,468
    RUHL MORTGAGE, LLC 41 5.14% $1,713
    GREENSTATE CREDIT UNION 35 4.06% $1,901
    ASCENTRA 26 4.44% $2,010
    MidWestOne Bank 23 5.07% $2,216
    Hills Bank and Trust Company 17 4.24% $1,664
    QUICKEN LOANS, LLC 13 5.36% $5,980
    I. H. MISSISSIPPI VALLEY CREDIT UNION 11 3.92% $1,498
    IOWA BANKERS MORTGAGE CORPORATION 9 4.81% $2,060
    BROKER SOLUTIONS, INC. 7 5.34% $4,632
    U.S. Bank 7 4.80% $2,888
    Wells Fargo Bank 6 4.75% $4,038
    CARDINAL FINANCIAL 4 4.91% $7,570
    HOMESIDE FINANCIAL, LLC 4 5.96% $3,445
    R.I.A. Federal Credit Union 4 3.91% $2,091
    SENB Bank 4 5.03% $2,767
    Farm Credit Mid-America, ACA 3 4.72% $6,998
    GAS AND ELECTRIC CREDIT UNION 3 5.13% $3,497
    Vibrant Credit Union 3 3.50% $2,122
    Flagstar Bank, FSB 3 4.34% $3,115
    SOUTHWEST FUNDING, LP 3 4.75% $5,663
    RESIDENTIAL MORTGAGE NETWORK, INC. 2 4.25% $1,660
    Luana Savings Bank 2 6.25% $1,239
    Mr. Cooper ( Nationstar Mortgage ) 2 5.13% $4,815
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.69% $15,349
    PREMIA MORTGAGE, LLC 2 5.66% $278
    Deere Employees Credit Union 2 3.56% $2,141
    Carrington Mortgage Services, LLC 2 5.06% $5,914
    SIRVA MORTGAGE, INC. 1 6.25% $2,458
    American Bank and Trust Company 1 3.88% $4,237
    AMERICAN FINANCING CORPORATION 1 5.38% $3,910
    AMERISAVE MORTGAGE CORPORATION 1 3.13% $5,312
    Bank of America 1 4.13% $12,346
    Barrington Bank & Trust Company, N.A. 1 5.49% $2,504
    CHERRY CREEK MORTGAGE, LLC 1 5.75% $104
    CITIZENS EQUITY FIRST 1 4.88% $749
    CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $2,966
    DAS Acquisition Company, LLC 1 5.38% $2,793
    DuTrac Community Credit Union 1 5.13% $2,344
    Fidelity Bank & Trust 1 6.88% $2,332
    FINANCE OF AMERICA MORTGAGE LLC 1 6.00% $5,776
    FIRST 1 3.99% $1,621
    FREEDOM MORTGAGE CORPORATION 1 7.13% $4,948
    INLANTA MORTGAGE, INC. 1 4.13% $2,111
    JPMorgan Chase Bank 1 4.13% $1,927
    Lakeview Community Capital, LLC 1 6.13% $6,044
    National Exchange Bank and Trust 1 4.75% $1,600
    NAVY FEDERAL CREDIT UNION 1 5.50% $1,835
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $6,838
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.63% $3,720
    Ally Bank 1 7.38% $1,635
    THE FAMILY CREDIT UNION 1 5.49% $1,781
    VERIDIAN CREDIT UNION 1 3.88% $1,283

    Muscatine Average Closing Costs & Other Stats

    Muscatine, IA's 53 lenders originated 863 loans during 2022. The total origination value was $135,685,000, with an average loan value of $157,225.

    Muscatine's average closing costs are $3,473.

    The top Muscatine lender as defined by loan originations is CBI Bank & Trust, with 57 loans originated. Their average total fees are $2,468, which is $755 higher than the next largest lender, RUHL MORTGAGE, LLC.

    The lowest fee Muscatine lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION ($1,498), Hills Bank and Trust Company ($1,664), RUHL MORTGAGE, LLC ($1,713), GREENSTATE CREDIT UNION ($1,901) and ASCENTRA ($2,010).

    The lowest rate Muscatine lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION (3.92%), GREENSTATE CREDIT UNION (4.06%), Hills Bank and Trust Company (4.24%), ASCENTRA (4.44%) and MidWestOne Bank (5.07%).

    Muscatine, 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
    CBI Bank & Trust $26,520,000 $17,380,000 -34.5% 12.8%
    RUHL MORTGAGE, LLC $8,880,000 $12,680,000 42.8% 9.3%
    GREENSTATE CREDIT UNION $23,540,000 $12,285,000 -47.8% 9.1%
    MidWestOne Bank $9,845,000 $6,950,000 -29.4% 5.1%
    QUICKEN LOANS, LLC $14,240,000 $6,780,000 -52.4% 5.0%
    ASCENTRA $8,510,000 $6,310,000 -25.9% 4.7%
    Prevail Bank $5,115,000 n/a 3.8%
    Hills Bank and Trust Company $3,085,000 $5,030,000 63.0% 3.7%
    DuTrac Community Credit Union $730,000 $4,320,000 491.8% 3.2%
    U.S. Bank $3,775,000 $3,450,000 -8.6% 2.5%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $3,785,000 $3,415,000 -9.8% 2.5%
    IOWA BANKERS MORTGAGE CORPORATION $2,105,000 $2,905,000 38.0% 2.1%
    Grandbridge Real Estate Capital LLC $2,865,000 n/a 2.1%
    RESIDENTIAL MORTGAGE NETWORK, INC. $2,820,000 $2,835,000 0.5% 2.1%
    BROKER SOLUTIONS, INC. $4,925,000 $2,660,000 -46.0% 2.0%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $2,770,000 $2,275,000 -17.9% 1.7%
    NEWREZ LLC $540,000 $2,180,000 303.7% 1.6%
    Mortgage Research Center, LLC $2,720,000 $1,965,000 -27.8% 1.4%
    SOUTHWEST FUNDING, LP $1,100,000 $1,885,000 71.4% 1.4%
    Peoples Bank $1,715,000 n/a 1.3%
    Wells Fargo Bank $3,630,000 $1,480,000 -59.2% 1.1%
    Carrington Mortgage Services, LLC $460,000 $1,225,000 166.3% 0.9%
    PREMIA MORTGAGE, LLC $980,000 n/a 0.7%
    SENB Bank $450,000 $960,000 113.3% 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $2,215,000 $945,000 -57.3% 0.7%
    SUN WEST MORTGAGE COMPANY, INC. $940,000 n/a 0.7%
    FREEDOM MORTGAGE CORPORATION $1,535,000 $895,000 -41.7% 0.7%
    R.I.A. Federal Credit Union $1,945,000 $840,000 -56.8% 0.6%
    Farm Credit Mid-America, ACA $965,000 $835,000 -13.5% 0.6%
    THE FAMILY CREDIT UNION $3,025,000 $805,000 -73.4% 0.6%
    VERIDIAN CREDIT UNION $1,180,000 $800,000 -32.2% 0.6%
    AMERISAVE MORTGAGE CORPORATION $1,530,000 $795,000 -48.0% 0.6%
    Vibrant Credit Union $340,000 $785,000 130.9% 0.6%
    Luana Savings Bank $720,000 n/a 0.5%
    PENNYMAC LOAN SERVICES, LLC $1,430,000 $720,000 -49.7% 0.5%
    GAS AND ELECTRIC CREDIT UNION $410,000 $665,000 62.2% 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $125,000 $660,000 428.0% 0.5%
    HOMESIDE FINANCIAL, LLC $1,680,000 $655,000 -61.0% 0.5%
    GUILD MORTGAGE COMPANY $1,785,000 $625,000 -65.0% 0.5%
    HOME POINT FINANCIAL CORPORATION $1,005,000 $615,000 -38.8% 0.5%
    Deere Employees Credit Union $200,000 $605,000 202.5% 0.4%
    NAVY FEDERAL CREDIT UNION $555,000 n/a 0.4%
    Flagstar Bank, FSB $235,000 $525,000 123.4% 0.4%
    Servion, Inc. $545,000 $520,000 -4.6% 0.4%
    CITIZENS EQUITY FIRST $470,000 n/a 0.3%
    LOANDEPOT.COM, LLC $1,305,000 $465,000 -64.4% 0.3%
    MARINE $440,000 $465,000 5.7% 0.3%
    Washington State Bank $200,000 $460,000 130.0% 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $405,000 n/a 0.3%
    American Bank and Trust Company $665,000 $400,000 -39.8% 0.3%
    Lincoln Savings Bank $235,000 $395,000 68.1% 0.3%
    USAA Federal Savings Bank $1,350,000 $380,000 -71.9% 0.3%
    Fidelity Bank & Trust $295,000 $360,000 22.0% 0.3%
    Bank of America $85,000 $355,000 317.6% 0.3%
    Midwest Bank $185,000 $345,000 86.5% 0.3%
    FINANCE OF AMERICA MORTGAGE LLC $900,000 $330,000 -63.3% 0.2%
    National Exchange Bank and Trust $330,000 n/a 0.2%
    First Central State Bank $320,000 n/a 0.2%
    LAKEVIEW LOAN SERVICING, LLC $495,000 $320,000 -35.4% 0.2%
    The Federal Savings Bank $285,000 n/a 0.2%
    CHERRY CREEK MORTGAGE, LLC $255,000 n/a 0.2%
    Central State Bank $115,000 $245,000 113.0% 0.2%
    CITY FIRST MORTGAGE SERVICES, L.L.C. $235,000 n/a 0.2%
    Flanagan State Bank $1,050,000 $205,000 -80.5% 0.2%
    Blackhawk Bank & Trust $195,000 n/a 0.1%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $635,000 $185,000 -70.9% 0.1%
    OPEN MORTGAGE, LLC $745,000 $185,000 -75.2% 0.1%
    BANKORION $175,000 $175,000 0.0% 0.1%
    DAS Acquisition Company, LLC $175,000 n/a 0.1%
    FIRST $235,000 $170,000 -27.7% 0.1%
    EVERETT FINANCIAL, INC. $165,000 n/a 0.1%
    Paramount Residential Mortgage Group, Inc. $670,000 $155,000 -76.9% 0.1%
    SIRVA MORTGAGE, INC. $155,000 n/a 0.1%
    Ally Bank $165,000 $145,000 -12.1% 0.1%
    Lakeview Community Capital, LLC $135,000 n/a 0.1%
    NETWORK CAPITAL FUNDING CORPORATION $135,000 n/a 0.1%
    AMERICAN FINANCING CORPORATION $195,000 $125,000 -35.9% 0.1%
    First Guaranty Mortgage Corporation $350,000 $125,000 -64.3% 0.1%
    Citizens State Bank $115,000 n/a 0.1%
    JPMorgan Chase Bank $730,000 $115,000 -84.2% 0.1%
    DUPACO COMMUNITY $645,000 $110,000 -82.9% 0.1%
    Quad City Bank and Trust Company $540,000 $110,000 -79.6% 0.1%
    Barrington Bank & Trust Company, N.A. $260,000 $105,000 -59.6% 0.1%
    CHURCHILL MORTGAGE CORPORATION $245,000 $105,000 -57.1% 0.1%
    GREAT LAKES $105,000 n/a 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 $105,000 0.0% 0.1%
    SOUTHWEST STAGE FUNDING, LLC $105,000 $105,000 0.0% 0.1%
    Community Choice Credit Union $100,000 n/a 0.1%
    SPRING EQ, LLC $135,000 $100,000 -25.9% 0.1%
    CALIBER HOME LOANS, INC. $610,000 $95,000 -84.4% 0.1%
    Federation Bank $95,000 n/a 0.1%
    Home Federal Savings Bank $125,000 $95,000 -24.0% 0.1%
    INLANTA MORTGAGE, INC. $185,000 $95,000 -48.6% 0.1%
    Blue Grass Savings Bank $500,000 $90,000 -82.0% 0.1%
    Citizens Bank $85,000 n/a 0.1%
    21ST MORTGAGE CORPORATION $70,000 $80,000 14.3% 0.1%
    Figure Lending LLC $80,000 n/a 0.1%
    Two Rivers Bank & Trust $75,000 n/a 0.1%
    Midwest Heritage Bank FSB $155,000 $65,000 -58.1% 0.0%
    PLAZA HOME MORTGAGE, INC. $520,000 $65,000 -87.5% 0.0%
    FINANCIAL PLUS Credit Union $55,000 n/a 0.0%
    THRIVENT Federal Credit Union $35,000 n/a 0.0%
    ALLIANT $305,000 $25,000 -91.8% 0.0%
    Collins Community Credit Union $765,000 $25,000 -96.7% 0.0%
    MID AMERICA MORTGAGE, INC. $25,000 n/a 0.0%
    TRIAD FINANCIAL SERVICES, INC. $25,000 n/a 0.0%

    Muscatine's top lender by overall market share is CBI Bank & Trust, with 12.8% market share. In second place, with 9.3%, is RUHL MORTGAGE, LLC, having originated $12,680,000 in loans. In third place, with 9.1%, is GREENSTATE CREDIT UNION, having originated $12,285,000 in loans. In fourth place, with 5.1%, is MidWestOne Bank, having originated $6,950,000 in loans. In fifth place, with 5.0%, is QUICKEN LOANS, LLC, having originated $6,780,000 in loans.

    Muscatine, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 491 $90,605,000 $184,532
    Cash Out Refi 132 $21,600,000 $163,636
    Refi 109 $16,975,000 $155,734
    Home Improvement 66 $3,120,000 $47,273
    Other 65 $3,385,000 $52,077

    Muscatine's most frequently cited loan purpose was Home Purchase, with 491 originations. The 2nd most popular reason was Cash Out Refi, with 132 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 242 $41,950,000 $173,347
    4-5% 195 $31,595,000 $162,026
    3-4% 189 $33,035,000 $174,788
    6-7% 113 $15,035,000 $133,053
    7-8% 37 $3,225,000 $87,162
    2.5-3% 35 $5,495,000 $157,000
    <2.5% 22 $2,480,000 $112,727
    Over 8% 12 $620,000 $51,667

    During 2022, Muscatine's most frequently originated rate bucket was 5-6%, with 242 originations.

    Loan Sizing (Muscatine, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 345 $18,805,000 $54,507
    $100k-200k 318 $46,170,000 $145,189
    $200k-400k 176 $46,690,000 $265,284
    $400k-600k 16 $7,620,000 $476,250
    $600k-1000k 4 $2,620,000 $655,000
    $Over $1MM 4 $13,780,000 $3,445,000

    Muscatine's loan sizing saw the bucket of loans from $100,000 or less with 345 originations, totaling $18,805,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 367 $68,805,000 $187,480
    60-80% 186 $38,820,000 $208,710
    Under 20% 112 $3,670,000 $32,768
    20-40% 77 $8,685,000 $112,792
    40-60% 62 $8,630,000 $139,194
    Over 100% 4 $980,000 $245,000

    Muscatine's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 367 originations, totaling $68,805,000 in origination value.