Ottumwa Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Ottumwa averaged 6.22% for the week of 2024-02-15, compared to the national average of 6.77% for the same period.

The average rate for the prior week (2024-02-08) was 5.79% and one month ago for the week of 2024-01-11, the average rate was 6.11%.

Ottumwa's average rate one year ago was 5.17%.

For refis of the same type during the week of 2024-02-15, the average rate was 7.37%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-02-15 6.77%
Ottumwa 30 Year Fixed Rate 2024-02-15 6.22%
Ottumwa 30 Year Fixed Rate Refi 2024-02-15 7.37%
Ottumwa 15 Year Fixed Rate 2024-02-15 6.02%
Ottumwa 15 Year Fixed Rate Refi 2024-02-15 6.12%
Ottumwa 30 Year FHA 2024-02-15 6.39%
Ottumwa 30 Year FHA Refi 2024-02-15 6.81%
Ottumwa 30 Year USDA 2024-02-15 6.49%
Ottumwa 30 Year USDA Refi 2024-02-15 6.79%
Ottumwa 30 Year VA 2024-02-15 6.56%
Ottumwa 30 Year VA Refi 2024-02-15 6.66%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ottumwa, IA.

Ottumwa 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 Ottumwa, 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
COMMUNITY 1ST CREDIT UNION 68 4.26% $2,219
U.S. Bank 28 5.16% $2,596
Deere Employees Credit Union 12 3.74% $2,539
Wells Fargo Bank 9 4.88% $3,230
QUICKEN LOANS, LLC 9 4.79% $3,855
IOWA BANKERS MORTGAGE CORPORATION 7 4.29% $3,031
Collins Community Credit Union 5 5.28% $1,907
VERIDIAN CREDIT UNION 4 3.78% $1,638
West Gate Bank 3 4.38% $2,490
Lincoln Savings Bank 2 5.31% $2,671
GREENSTATE CREDIT UNION 2 4.00% $2,232
MidWestOne Bank 2 4.00% $2,498
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.44% $2,603
CROSSCOUNTRY MORTGAGE, LLC 2 6.38% $5,276
LOANDEPOT.COM, LLC 2 4.31% $4,197
I. H. MISSISSIPPI VALLEY CREDIT UNION 1 4.13% $1,909
Bank of America 1 4.25% $3,326
Bank of England 1 5.00% $3,513
CHARTER WEST BANK 1 4.25% $3,059
Farm Credit Mid-America, ACA 1 4.25% $10,091
Farmers State Bank 1 3.88% $2,341
Great Southern Bank 1 2.70% $6,449
GUARANTEED RATE, INC. 1 4.75% $3,010
GUILD MORTGAGE COMPANY 1 3.25% $1,824
Ally Bank 1 3.25% $3,555
IMPAC MORTGAGE CORP. 1 7.38% $3,112
JPMorgan Chase Bank 1 3.75% $3,416
LAKEVIEW LOAN SERVICING, LLC 1 5.50% $5,293
Merchants Bank 1 4.90% $1,628
Waterstone Mortgage Corporation 1 3.88% $5,588

Ottumwa Average Closing Costs & Other Stats

Ottumwa, IA's 30 lenders originated 600 loans during 2022. The total origination value was $63,090,000, with an average loan value of $105,150.

Ottumwa's average closing costs are $3,041.

The top Ottumwa lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with 68 loans originated. Their average total fees are $2,219, which is $377 lower than the next largest lender, U.S. Bank.

The lowest fee Ottumwa lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION ($2,219), Deere Employees Credit Union ($2,539), U.S. Bank ($2,596), .

The lowest rate Ottumwa lenders (with over 10 loans originated) are Deere Employees Credit Union (3.74%), COMMUNITY 1ST CREDIT UNION (4.26%), U.S. Bank (5.16%), .

Ottumwa, 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
COMMUNITY 1ST CREDIT UNION $20,095,000 $17,510,000 -12.9% 27.8%
U.S. Bank $10,460,000 $7,015,000 -32.9% 11.1%
QUICKEN LOANS, LLC $9,110,000 $3,140,000 -65.5% 5.0%
Deere Employees Credit Union $2,735,000 $3,005,000 9.9% 4.8%
Mortgage Research Center, LLC $1,935,000 $2,740,000 41.6% 4.3%
CROSSCOUNTRY MORTGAGE, LLC $555,000 $2,255,000 306.3% 3.6%
DUPACO COMMUNITY $155,000 $1,585,000 922.6% 2.5%
Wells Fargo Bank $6,400,000 $1,540,000 -75.9% 2.4%
IOWA BANKERS MORTGAGE CORPORATION $2,840,000 $1,375,000 -51.6% 2.2%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,185,000 $1,370,000 15.6% 2.2%
Great Southern Bank $1,055,000 n/a 1.7%
NAVY FEDERAL CREDIT UNION $290,000 $815,000 181.0% 1.3%
Washington State Bank $1,185,000 $810,000 -31.6% 1.3%
MidWestOne Bank $2,975,000 $750,000 -74.8% 1.2%
GREENSTATE CREDIT UNION $2,835,000 $745,000 -73.7% 1.2%
RESIDENTIAL MORTGAGE NETWORK, INC. $115,000 $705,000 513.0% 1.1%
LOANDEPOT.COM, LLC $1,240,000 $695,000 -44.0% 1.1%
West Gate Bank $7,320,000 $625,000 -91.5% 1.0%
Collins Community Credit Union $560,000 $620,000 10.7% 1.0%
VERIDIAN CREDIT UNION $405,000 $580,000 43.2% 0.9%
JPMorgan Chase Bank $450,000 n/a 0.7%
Lincoln Savings Bank $65,000 $435,000 569.2% 0.7%
Bank of America $420,000 n/a 0.7%
Farm Credit Mid-America, ACA $435,000 $420,000 -3.4% 0.7%
The Federal Savings Bank $375,000 n/a 0.6%
BROKER SOLUTIONS, INC. $370,000 n/a 0.6%
EVERETT FINANCIAL, INC. $340,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $1,075,000 $335,000 -68.8% 0.5%
GREATER IOWA CREDIT UNION $315,000 n/a 0.5%
Servion, Inc. $315,000 n/a 0.5%
Community Choice Credit Union $295,000 n/a 0.5%
PENNYMAC LOAN SERVICES, LLC $760,000 $295,000 -61.2% 0.5%
Flagstar Bank, FSB $325,000 $290,000 -10.8% 0.5%
CALIBER HOME LOANS, INC. $275,000 n/a 0.4%
GUILD MORTGAGE COMPANY $1,360,000 $275,000 -79.8% 0.4%
Midwest Heritage Bank FSB $620,000 $265,000 -57.3% 0.4%
AMERISAVE MORTGAGE CORPORATION $435,000 $260,000 -40.2% 0.4%
FREEDOM MORTGAGE CORPORATION $800,000 $260,000 -67.5% 0.4%
Cedar Rapids Bank and Trust Company $255,000 n/a 0.4%
Barrington Bank & Trust Company, N.A. $660,000 $250,000 -62.1% 0.4%
CBI Bank & Trust $220,000 $245,000 11.4% 0.4%
21ST MORTGAGE CORPORATION $230,000 n/a 0.4%
Equity Prime Mortgage LLC $225,000 n/a 0.4%
Merchants Bank $225,000 n/a 0.4%
GUARANTEED RATE, INC. $220,000 n/a 0.3%
I. H. MISSISSIPPI VALLEY CREDIT UNION $220,000 n/a 0.3%
Ally Bank $175,000 n/a 0.3%
NP, Inc. $175,000 n/a 0.3%
ALLIANT $465,000 $165,000 -64.5% 0.3%
INLANTA MORTGAGE, INC. $165,000 n/a 0.3%
SUN WEST MORTGAGE COMPANY, INC. $160,000 n/a 0.3%
LAKEVIEW LOAN SERVICING, LLC $155,000 n/a 0.2%
Leighton State Bank $155,000 n/a 0.2%
Waterstone Mortgage Corporation $315,000 $145,000 -54.0% 0.2%
NEW DAY FINANCIAL, LLC $95,000 $135,000 42.1% 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $125,000 n/a 0.2%
IMPAC MORTGAGE CORP. $125,000 n/a 0.2%
LONGBRIDGE FINANCIAL, LLC $125,000 n/a 0.2%
Bank of England $115,000 n/a 0.2%
CHARTER WEST BANK $115,000 n/a 0.2%
Farmers State Bank $115,000 n/a 0.2%
Hills Bank and Trust Company $35,000 $115,000 228.6% 0.2%
Paramount Bank $115,000 n/a 0.2%
USAA Federal Savings Bank $95,000 n/a 0.2%
Serve Credit Union $85,000 n/a 0.1%
Carrington Mortgage Services, LLC $110,000 $65,000 -40.9% 0.1%
M&T Bank $65,000 n/a 0.1%
Bank Iowa $190,000 $35,000 -81.6% 0.1%

Ottumwa's top lender by overall market share is COMMUNITY 1ST CREDIT UNION, with 27.8% market share. In second place, with 11.1%, is U.S. Bank, having originated $7,015,000 in loans. In third place, with 5.0%, is QUICKEN LOANS, LLC, having originated $3,140,000 in loans. In fourth place, with 4.8%, is Deere Employees Credit Union, having originated $3,005,000 in loans. In fifth place, with 4.3%, is Mortgage Research Center, LLC, having originated $2,740,000 in loans.


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

Realtor.com - Ottumwa (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 $84,950 (-17.1%) $116,556 (-7.8%) 0.00 114
2018-02-01 $81,250 (-21.6%) $106,350 (-17.1%) 0.00 120
2018-03-01 $82,750 (-27.3%) $114,085 (-15.3%) 0.00 120
2018-04-01 $88,850 (-22.7%) $124,103 (-8.1%) 0.00 125
2018-05-01 $94,900 (-9.1%) $125,821 (-7.6%) 0.00 127
2018-06-01 $93,950 (-14.0%) $124,857 (-11.1%) 0.00 136
2018-07-01 $89,000 (-13.6%) $121,065 (-11.5%) 0.00 151
2018-08-01 $91,175 (-9.2%) $121,446 (-10.4%) 0.00 157
2018-09-01 $89,900 (-10.0%) $122,630 (-3.0%) 0.00 156
2018-10-01 $100,875 (6.4%) $123,019 (4.2%) 0.00 148
2018-11-01 $107,250 (10.6%) $124,914 (6.8%) 0.00 145
2018-12-01 $107,750 (20.4%) $126,371 (9.4%) 0.00 142
2019-01-01 $110,725 (30.3%) $129,860 (11.4%) 0.00 132
2019-02-01 $105,000 (29.2%) $126,903 (19.3%) 0.00 128
2019-03-01 $105,943 (28.0%) $126,992 (11.3%) 0.00 120
2019-04-01 $110,493 (24.4%) $132,345 (6.6%) 0.00 117
2019-05-01 $105,225 (10.9%) $129,609 (3.0%) 0.00 131
2019-06-01 $102,500 (9.1%) $129,854 (4.0%) 0.00 129
2019-07-01 $109,475 (23.0%) $132,660 (9.6%) 0.00 135
2019-08-01 $110,382 (21.1%) $134,404 (10.7%) 0.00 134
2019-09-01 $118,605 (31.9%) $139,260 (13.6%) 0.00 133
2019-10-01 $125,000 (23.9%) $142,619 (15.9%) 0.00 135
2019-11-01 $128,250 (19.6%) $151,588 (21.4%) 0.00 129
2019-12-01 $127,000 (17.9%) $150,115 (18.8%) 0.00 117
2020-01-01 $129,350 (16.8%) $153,660 (18.3%) 0.00 114
2020-02-01 $129,000 (22.9%) $152,932 (20.5%) 0.00 107
2020-03-01 $143,125 (35.1%) $157,880 (24.3%) 0.00 107
2020-04-01 $146,350 (32.5%) $161,134 (21.8%) 0.00 106
2020-05-01 $152,000 (44.5%) $164,653 (27.0%) 0.00 101
2020-06-01 $155,000 (51.2%) $168,777 (30.0%) 0.00 84
2020-07-01 $147,000 (34.3%) $166,969 (25.9%) 0.00 71
2020-08-01 $157,500 (42.7%) $179,250 (33.4%) 0.00 70
2020-09-01 $142,875 (20.5%) $155,794 (11.9%) 0.00 68
2020-10-01 $115,000 (-8.0%) $133,399 (-6.5%) 0.00 63
2020-11-01 $125,000 (-2.5%) $136,676 (-9.8%) 0.00 72
2020-12-01 $122,500 (-3.5%) $140,221 (-6.6%) 0.00 59
2021-01-01 $98,000 (-24.2%) $124,376 (-19.1%) 0.00 52
2021-02-01 $104,250 (-19.2%) $140,564 (-8.1%) 0.00 53
2021-03-01 $103,750 (-27.5%) $136,548 (-13.5%) 0.00 52
2021-04-01 $108,250 (-26.0%) $134,749 (-16.4%) 0.00 44
2021-05-01 $129,450 (-14.8%) $146,236 (-11.2%) 0.00 45
2021-06-01 $128,750 (-16.9%) $141,866 (-15.9%) 0.00 45
2021-07-01 $108,000 (-26.5%) $130,660 (-21.8%) 0.00 47
2021-08-01 $101,875 (-35.3%) $119,634 (-33.3%) 0.00 59
2021-09-01 $102,250 (-28.4%) $117,458 (-24.6%) 0.00 54
2021-10-01 $105,000 (-8.7%) $121,577 (-8.9%) 0.00 62
2021-11-01 $101,600 (-18.7%) $121,946 (-10.8%) 0.00 54
2021-12-01 $97,500 (-20.4%) $115,114 (-17.9%) 0.00 50
2022-01-01 $89,000 (-9.2%) $114,103 (-8.3%) 0.00 46
2022-02-01 $99,675 (-4.4%) $134,818 (-4.1%) 0.00 45
2022-03-01 $115,000 (10.8%) $148,501 (8.8%) 0.00 46
2022-04-01 $124,950 (15.4%) $161,193 (19.6%) 0.00 43
2022-05-01 $142,375 (10.0%) $161,686 (10.6%) 0.00 56
2022-06-01 $121,850 (-5.4%) $152,965 (7.8%) 0.00 66
2022-07-01 $133,950 (24.0%) $160,544 (22.9%) 0.00 75
2022-08-01 $123,700 (21.4%) $164,101 (37.2%) 0.00 58
2022-09-01 $122,000 (19.3%) $168,942 (43.8%) 0.00 61
2022-10-01 $131,250 (25.0%) $177,315 (45.9%) 0.00 66
2022-11-01 $133,125 (31.0%) $184,067 (50.9%) 0.00 65
2022-12-01 $133,750 (37.2%) $171,429 (48.9%) 0.00 70
2023-01-01 $138,450 (55.6%) $172,730 (51.4%) 0.00 64
2023-02-01 $133,750 (34.2%) $165,178 (22.5%) 0.00 54
2023-03-01 $130,000 (13.0%) $165,787 (11.6%) 0.00 47
2023-04-01 $139,950 (12.0%) $178,473 (10.7%) 0.00 38
2023-05-01 $177,450 (24.6%) $205,574 (27.1%) 0.00 53
2023-06-01 $166,100 (36.3%) $199,480 (30.4%) 0.00 56
2023-07-01 $175,000 (30.7%) $211,520 (31.8%) 0.00 58
2023-08-01 $156,625 (26.6%) $214,512 (30.7%) 0.00 63
2023-09-01 $159,900 (31.1%) $200,985 (19.0%) 0.00 58
2023-10-01 $146,975 (12.0%) $188,022 (6.0%) 0.00 65
2023-11-01 $155,600 (16.9%) $201,311 (9.4%) 0.00 65
2023-12-01 $153,750 (15.0%) $196,585 (14.7%) 0.00 65
Ottumwa's median listing price for 2023-12-01 was $153,750, a difference of $20,000 (15.0%) versus the prior year and $-1,850 versus the prior month.

Ottumwa's median listing price comes in at 0% of the national average.

Ottumwa's average listing price for 2023-12-01 was $196,585, a difference of $25,156 (14.7%) versus the prior year and $-4,726 versus the prior month.

For the 2023-12-01 period, Ottumwa had 65 MLS listings, a difference of 0 listings (0%) versus the prior month and -5 listings (-7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ottumwa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,286 sqft
2018-02-01 0 days 1,262 sqft
2018-03-01 0 days 1,250 sqft
2018-04-01 0 days 1,330 sqft
2018-05-01 0 days 1,296 sqft
2018-06-01 0 days 1,358 sqft
2018-07-01 0 days 1,308 sqft
2018-08-01 0 days 1,296 sqft
2018-09-01 0 days 1,308 sqft
2018-10-01 0 days 1,356 sqft
2018-11-01 0 days 1,384 sqft
2018-12-01 0 days 1,357 sqft
2019-01-01 0 days 1,376 sqft
2019-02-01 0 days 1,422 sqft
2019-03-01 0 days 1,442 sqft
2019-04-01 0 days 1,465 sqft
2019-05-01 0 days 1,452 sqft
2019-06-01 0 days 1,440 sqft
2019-07-01 0 days 1,446 sqft
2019-08-01 0 days 1,423 sqft
2019-09-01 0 days 1,396 sqft
2019-10-01 0 days 1,376 sqft
2019-11-01 0 days 1,434 sqft
2019-12-01 0 days 1,356 sqft
2020-01-01 0 days 1,665 sqft
2020-02-01 0 days 1,392 sqft
2020-03-01 0 days 1,401 sqft
2020-04-01 0 days 1,500 sqft
2020-05-01 0 days 1,456 sqft
2020-06-01 0 days 1,459 sqft
2020-07-01 0 days 1,460 sqft
2020-08-01 0 days 1,500 sqft
2020-09-01 0 days 1,479 sqft
2020-10-01 0 days 1,380 sqft
2020-11-01 0 days 1,444 sqft
2020-12-01 0 days 1,428 sqft
2021-01-01 0 days 1,318 sqft
2021-02-01 0 days 1,297 sqft
2021-03-01 0 days 1,285 sqft
2021-04-01 0 days 1,238 sqft
2021-05-01 0 days 1,362 sqft
2021-06-01 0 days 1,303 sqft
2021-07-01 0 days 1,152 sqft
2021-08-01 0 days 1,179 sqft
2021-09-01 0 days 1,225 sqft
2021-10-01 0 days 1,242 sqft
2021-11-01 0 days 1,170 sqft
2021-12-01 0 days 1,153 sqft
2022-01-01 0 days 1,150 sqft
2022-02-01 0 days 1,175 sqft
2022-03-01 0 days 1,292 sqft
2022-04-01 0 days 1,292 sqft
2022-05-01 0 days 1,303 sqft
2022-06-01 0 days 1,316 sqft
2022-07-01 0 days 1,344 sqft
2022-08-01 0 days 1,370 sqft
2022-09-01 0 days 1,382 sqft
2022-10-01 0 days 1,430 sqft
2022-11-01 0 days 1,488 sqft
2022-12-01 0 days 1,380 sqft
2023-01-01 0 days 1,314 sqft
2023-02-01 0 days 1,344 sqft
2023-03-01 0 days 1,468 sqft
2023-04-01 0 days 1,405 sqft
2023-05-01 0 days 1,510 sqft
2023-06-01 0 days 1,401 sqft
2023-07-01 0 days 1,388 sqft
2023-08-01 0 days 1,462 sqft
2023-09-01 0 days 1,404 sqft
2023-10-01 0 days 1,410 sqft
2023-11-01 0 days 1,470 sqft
2023-12-01 0 days 1,469 sqft
Ottumwa's median listing age (time on market) for 2023-12-01 was 0 days.

Ottumwa's median square footage for active listings during the 2023-12-01 period was 1,469 sqft. One year prior, the average listing was 1,380 sqft.

Ottumwa, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 360 $44,920,000 $124,778
Cash Out Refi 139 $8,835,000 $63,561
Refi 70 $7,150,000 $102,143
Home Improvement 18 $1,380,000 $76,667
Other 13 $805,000 $61,923

Ottumwa's most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Cash Out Refi, with 139 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
4-5% 136 $16,130,000 $118,603
3-4% 107 $14,115,000 $131,916
5-6% 106 $11,750,000 $110,849
<2.5% 73 $3,275,000 $44,863
2.5-3% 48 $6,900,000 $143,750
6-7% 43 $4,245,000 $98,721
7-8% 16 $1,420,000 $88,750
Over 8% 4 $130,000 $32,500

During 2022, Ottumwa's most frequently originated rate bucket was 4-5%, with 136 originations.

Loan Sizing (Ottumwa, IA MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 350 $18,900,000 $54,000
$100k-200k 195 $27,925,000 $143,205
$200k-400k 51 $12,745,000 $249,902
$400k-600k 2 $880,000 $440,000
$Over $1MM 2 $2,640,000 $1,320,000

Ottumwa's loan sizing saw the bucket of loans from $100,000 or less with 350 originations, totaling $18,900,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 284 $37,830,000 $133,204
60-80% 101 $12,755,000 $126,287
20-40% 58 $2,820,000 $48,621
Under 20% 54 $1,200,000 $22,222
40-60% 33 $2,545,000 $77,121
Over 100% 2 $310,000 $155,000

Ottumwa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 284 originations, totaling $37,830,000 in origination value.