Ottumwa Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ottumwa averaged
6.82%
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
6.85% and
one month ago for the week of 2025-05-15, the
average rate was 6.92%.
Ottumwa's average rate one year ago was 7.06%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.71%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Ottumwa 30 Year Fixed Rate | 2025-06-18 | 6.82% |
| Ottumwa 30 Year Fixed Rate Refi | 2025-06-18 | 6.71% |
| Ottumwa 15 Year Fixed Rate | 2025-06-18 | 5.76% |
| Ottumwa 15 Year Fixed Rate Refi | 2025-06-18 | 6.06% |
| Ottumwa 30 Year FHA | 2025-06-18 | 0.48% |
| Ottumwa 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Ottumwa 30 Year USDA | 2025-06-18 | -0.1% |
| Ottumwa 30 Year USDA Refi | 2025-06-18 | -0.1% |
| Ottumwa 30 Year VA | 2025-06-18 | 0.1% |
| Ottumwa 30 Year VA Refi | 2025-06-18 | -0.1% |
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.).
Ottumwa Average Closing Costs & Other Stats
Ottumwa, IA's 27 lenders originated 578
loans during 2024. The total origination value was $64,550,000, with an average loan value of
$111,678.
Ottumwa's average closing costs are $3,364.
The top Ottumwa lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with
69 loans originated. Their average total fees are
$2,346, which is $439
lower than the next largest lender,
U.S. Bank.
The lowest fee Ottumwa lenders (with over 10 loans originated) are
COMMUNITY 1ST CREDIT UNION ($2,346), West Gate Bank ($2,576), U.S. Bank ($2,784), QUICKEN LOANS, LLC ($5,563) and .
The lowest rate Ottumwa lenders (with over 10 loans originated) are
West Gate Bank (6.26%), U.S. Bank (6.73%), COMMUNITY 1ST CREDIT UNION (6.89%), QUICKEN LOANS, LLC (6.92%) and .
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| COMMUNITY 1ST CREDIT UNION | $20,485,000 | $18,035,000 | -12.0% | 27.9% |
| U.S. Bank | $6,420,000 | $5,645,000 | -12.1% | 8.7% |
| QUICKEN LOANS, LLC | $2,660,000 | $3,995,000 | 50.2% | 6.2% |
| Mortgage Research Center, LLC | $2,085,000 | $3,765,000 | 80.6% | 5.8% |
| BROKER SOLUTIONS, INC. | $1,020,000 | $2,940,000 | 188.2% | 4.6% |
| West Gate Bank | $825,000 | $2,645,000 | 220.6% | 4.1% |
| Deere Employees Credit Union | $2,470,000 | $2,245,000 | -9.1% | 3.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,780,000 | $1,940,000 | -30.2% | 3.0% |
| GREENSTATE CREDIT UNION | $1,480,000 | $1,485,000 | 0.3% | 2.3% |
| Pinnacle Bank | $1,385,000 | n/a | 2.1% | |
| IOWA BANKERS MORTGAGE CORPORATION | $855,000 | $1,205,000 | 40.9% | 1.9% |
| MidWestOne Bank | $740,000 | $1,140,000 | 54.1% | 1.8% |
| PENNYMAC LOAN SERVICES, LLC | $830,000 | n/a | 1.3% | |
| Washington State Bank | $345,000 | $785,000 | 127.5% | 1.2% |
| GUARANTEED RATE, INC. | $395,000 | $645,000 | 63.3% | 1.0% |
| Wells Fargo Bank | $1,085,000 | $610,000 | -43.8% | 0.9% |
| AMERISAVE MORTGAGE CORPORATION | $385,000 | $605,000 | 57.1% | 0.9% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $685,000 | $560,000 | -18.2% | 0.9% |
| FREEDOM MORTGAGE CORPORATION | $535,000 | $545,000 | 1.9% | 0.8% |
| GUILD MORTGAGE COMPANY | $105,000 | $510,000 | 385.7% | 0.8% |
| NEWREZ LLC | $495,000 | n/a | 0.8% | |
| Sierra Pacific Mortgage Company, Inc. | $125,000 | $470,000 | 276.0% | 0.7% |
| Waterstone Mortgage Corporation | $470,000 | n/a | 0.7% | |
| VILLAGE CAPITAL MORTGAGE | $455,000 | n/a | 0.7% | |
| HOMESERVICES LENDING, LLC | $160,000 | $445,000 | 178.1% | 0.7% |
| 21ST MORTGAGE CORPORATION | $350,000 | $430,000 | 22.9% | 0.7% |
| DUPACO COMMUNITY | $185,000 | $430,000 | 132.4% | 0.7% |
| CARDINAL FINANCIAL | $400,000 | $400,000 | 0.0% | 0.6% |
| Community Choice Credit Union | $210,000 | $395,000 | 88.1% | 0.6% |
| LOANDEPOT.COM, LLC | $200,000 | $380,000 | 90.0% | 0.6% |
| USAA Federal Savings Bank | $245,000 | $365,000 | 49.0% | 0.6% |
| Bank Iowa | $1,025,000 | $360,000 | -64.9% | 0.6% |
| MEMBERS1st Community Credit Union | $330,000 | n/a | 0.5% | |
| The Federal Savings Bank | $510,000 | $315,000 | -38.2% | 0.5% |
| Barrington Bank & Trust Company, N.A. | $285,000 | n/a | 0.4% | |
| Fortress Bank | $795,000 | $285,000 | -64.2% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $185,000 | $265,000 | 43.2% | 0.4% |
| First Interstate Bank | $255,000 | n/a | 0.4% | |
| RESIDENTIAL MORTGAGE NETWORK, INC. | $280,000 | $250,000 | -10.7% | 0.4% |
| VERIDIAN CREDIT UNION | $490,000 | $240,000 | -51.0% | 0.4% |
| TruHome Solutions, LLC | $230,000 | n/a | 0.4% | |
| First National Bank of Omaha | $225,000 | $225,000 | 0.0% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $215,000 | n/a | 0.3% | |
| NETWORK CAPITAL FUNDING CORPORATION | $215,000 | n/a | 0.3% | |
| Peoples Bank | $205,000 | n/a | 0.3% | |
| Quontic Bank | $205,000 | n/a | 0.3% | |
| Serve Credit Union | $205,000 | n/a | 0.3% | |
| JPMorgan Chase Bank | $175,000 | n/a | 0.3% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $165,000 | n/a | 0.3% | |
| Plains Commerce Bank | $160,000 | n/a | 0.2% | |
| Flagstar Bank, FSB | $155,000 | n/a | 0.2% | |
| Truist | $145,000 | n/a | 0.2% | |
| Bank of America | $400,000 | $125,000 | -68.8% | 0.2% |
| LEADERONE FINANCIAL CORPORATION | $125,000 | n/a | 0.2% | |
| UNITED WHOLESALE MORTGAGE, LLC | $455,000 | $125,000 | -72.5% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $35,000 | $120,000 | 242.9% | 0.2% |
| MARINE | $210,000 | $115,000 | -45.2% | 0.2% |
| Northwest Bank | $115,000 | n/a | 0.2% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $110,000 | n/a | 0.2% | |
| Third Federal Savings and Loan Association of Cleveland | $105,000 | n/a | 0.2% | |
| TRIAD FINANCIAL SERVICES, INC. | $85,000 | $105,000 | 23.5% | 0.2% |
| NEW DAY FINANCIAL, LLC | $85,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $190,000 | $85,000 | -55.3% | 0.1% |
| Figure Lending LLC | $60,000 | n/a | 0.1% | |
| First Class Community Credit Union | $55,000 | n/a | 0.1% | |
| Leighton State Bank | $555,000 | $55,000 | -90.1% | 0.1% |
| Coastal Community Bank | $25,000 | $40,000 | 60.0% | 0.1% |
| BancFirst | $35,000 | n/a | 0.1% | |
| BTC BANK | $25,000 | n/a | 0.0% | |
| Lakeview Community Capital, LLC | $25,000 | n/a | 0.0% | |
| FINANCIAL PLUS Credit Union | $15,000 | n/a | 0.0% |
Ottumwa's top lender by overall market share is COMMUNITY 1ST CREDIT UNION, with 27.9% market share. In second place, with 8.7%, is U.S. Bank, having originated $5,645,000 in loans. In third place, with 6.2%, is QUICKEN LOANS, LLC, having originated $3,995,000 in loans. In fourth place, with 5.8%, is Mortgage Research Center, LLC, having originated $3,765,000 in loans. In fifth place, with 4.6%, is BROKER SOLUTIONS, INC., having originated $2,940,000 in loans.
Ottumwa, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 343 | $44,955,000 | $131,064 |
| Refi | 163 | $13,365,000 | $81,994 |
| Cash Out Refi | 31 | $4,195,000 | $135,323 |
| Other | 22 | $1,030,000 | $46,818 |
| Home Improvement | 19 | $1,005,000 | $52,895 |
Ottumwa's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was Refi, with 163 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 255 | $35,745,000 | $140,176 |
| <2.5% | 119 | $5,375,000 | $45,168 |
| 7-8% | 83 | $10,155,000 | $122,349 |
| Over 8% | 44 | $2,890,000 | $65,682 |
| 5-6% | 39 | $7,715,000 | $197,821 |
| 2.5-3% | 1 | $135,000 | $135,000 |
During 2024, Ottumwa's most frequently originated rate bucket was 6-7%, with 255 originations.
Loan Sizing (Ottumwa, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 307 | $15,445,000 | $50,309 |
| $100k-200k | 185 | $25,205,000 | $136,243 |
| $200k-400k | 81 | $20,845,000 | $257,346 |
| $400k-600k | 4 | $1,670,000 | $417,500 |
| $Over $1MM | 1 | $1,385,000 | $1,385,000 |
Ottumwa's loan sizing saw the bucket of loans from $100,000 or less with 307 originations, totaling $15,445,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 251 | $38,355,000 | $152,809 |
| 20-40% | 87 | $4,365,000 | $50,172 |
| 60-80% | 85 | $12,175,000 | $143,235 |
| Under 20% | 77 | $1,805,000 | $23,442 |
| 40-60% | 32 | $3,060,000 | $95,625 |
| Over 100% | 3 | $845,000 | $281,667 |
Ottumwa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 251 originations, totaling $38,355,000 in origination value.