Ottumwa 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 Ottumwa averaged 6.79% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.87% and one month ago for the week of 2024-03-14, the average rate was 6.73%.

    Ottumwa's average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.3%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Ottumwa 30 Year Fixed Rate 2024-04-18 6.79%
    Ottumwa 30 Year Fixed Rate Refi 2024-04-18 7.3%
    Ottumwa 15 Year Fixed Rate 2024-04-18 6.29%
    Ottumwa 15 Year Fixed Rate Refi 2024-04-18 6.49%
    Ottumwa 30 Year FHA 2024-04-18 6.96%
    Ottumwa 30 Year FHA Refi 2024-04-18 6.86%
    Ottumwa 30 Year USDA 2024-04-18 6.76%
    Ottumwa 30 Year USDA Refi 2024-04-18 6.86%
    Ottumwa 30 Year VA 2024-04-18 6.66%
    Ottumwa 30 Year VA Refi 2024-04-18 6.56%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    COMMUNITY 1ST CREDIT UNION 90 6.45% $2,338
    U.S. Bank 27 7.04% $2,822
    QUICKEN LOANS, LLC 7 6.75% $5,263
    GREENSTATE CREDIT UNION 6 6.40% $2,224
    Wells Fargo Bank 5 7.33% $3,884
    IOWA BANKERS MORTGAGE CORPORATION 5 6.98% $2,761
    CROSSCOUNTRY MORTGAGE, LLC 5 7.31% $5,346
    Bank Iowa 4 6.25% $4,357
    West Gate Bank 4 6.56% $2,551
    Deere Employees Credit Union 4 6.13% $2,926
    GERSHMAN INVESTMENT CORP. 2 6.50% $2,899
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.56% $3,166
    FREEDOM MORTGAGE CORPORATION 2 7.69% $6,741
    Farm Credit Mid-America, ACA 1 6.75% $11,370
    First National Bank of Omaha 1 7.25% $3,271
    Fortress Bank 1 6.75% $4,902
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $7,580
    Ally Bank 1 6.38% $1,389
    Community Choice Credit Union 1 6.25% $2,244
    Collins Community Credit Union 1 7.00% $2,021
    JMAC LENDING, INC. 1 6.88% $4,919
    Lincoln Savings Bank 1 6.25% $2,659
    MARINE 1 8.98% $6,357
    MidWestOne Bank 1 7.50% $1,807
    PNC Bank 1 6.88% $9,553
    BROKER SOLUTIONS, INC. 1 7.88% $2,828
    ROYAL UNITED MORTGAGE LLC 1 6.75% $7,902
    The Federal Savings Bank 1 7.50% $3,127
    Tradesmen Community Credit Union 1 6.50% $4,481
    USAA Federal Savings Bank 1 5.50% $9,549
    BMO Harris Bank 1 7.13% $4,743
    VERIDIAN CREDIT UNION 1 6.63% $2,028
    Bank of America 1 8.63% $7,251
    DUPACO COMMUNITY 1 5.63% $3,153

    Ottumwa Average Closing Costs & Other Stats

    Ottumwa, IA's 34 lenders originated 569 loans during 2023. The total origination value was $64,545,000, with an average loan value of $113,436.

    Ottumwa's average closing costs are $3,201.

    The top Ottumwa lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with 90 loans originated. Their average total fees are $2,338, which is $484 lower than the next largest lender, U.S. Bank.

    The lowest fee Ottumwa lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION ($2,338), U.S. Bank ($2,822), .

    The lowest rate Ottumwa lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION (6.45%), U.S. Bank (7.04%), .

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    COMMUNITY 1ST CREDIT UNION $17,510,000 $20,485,000 17.0% 31.7%
    U.S. Bank $7,015,000 $6,420,000 -8.5% 9.9%
    Hills Bank and Trust Company $115,000 $3,435,000 2,887.0% 5.3%
    CROSSCOUNTRY MORTGAGE, LLC $2,255,000 $2,780,000 23.3% 4.3%
    QUICKEN LOANS, LLC $3,140,000 $2,660,000 -15.3% 4.1%
    Deere Employees Credit Union $3,005,000 $2,470,000 -17.8% 3.8%
    Mortgage Research Center, LLC $2,740,000 $2,085,000 -23.9% 3.2%
    GREENSTATE CREDIT UNION $745,000 $1,480,000 98.7% 2.3%
    Wells Fargo Bank $1,540,000 $1,085,000 -29.5% 1.7%
    Bank Iowa $35,000 $1,025,000 2,828.6% 1.6%
    BROKER SOLUTIONS, INC. $370,000 $1,020,000 175.7% 1.6%
    IOWA BANKERS MORTGAGE CORPORATION $1,375,000 $855,000 -37.8% 1.3%
    West Gate Bank $625,000 $825,000 32.0% 1.3%
    Fortress Bank $795,000 n/a 1.2%
    MidWestOne Bank $750,000 $740,000 -1.3% 1.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $125,000 $685,000 448.0% 1.1%
    BankIowa of Cedar Rapids $605,000 n/a 0.9%
    Farm Credit Mid-America, ACA $420,000 $585,000 39.3% 0.9%
    Leighton State Bank $155,000 $555,000 258.1% 0.9%
    FREEDOM MORTGAGE CORPORATION $260,000 $535,000 105.8% 0.8%
    The Federal Savings Bank $375,000 $510,000 36.0% 0.8%
    VERIDIAN CREDIT UNION $580,000 $490,000 -15.5% 0.8%
    UNITED WHOLESALE MORTGAGE, LLC $455,000 n/a 0.7%
    Bank of America $420,000 $400,000 -4.8% 0.6%
    CARDINAL FINANCIAL $400,000 n/a 0.6%
    GUARANTEED RATE, INC. $220,000 $395,000 79.5% 0.6%
    AMERISAVE MORTGAGE CORPORATION $260,000 $385,000 48.1% 0.6%
    PNC Bank $365,000 n/a 0.6%
    21ST MORTGAGE CORPORATION $230,000 $350,000 52.2% 0.5%
    GERSHMAN INVESTMENT CORP. $350,000 n/a 0.5%
    Washington State Bank $810,000 $345,000 -57.4% 0.5%
    RESIDENTIAL MORTGAGE NETWORK, INC. $705,000 $280,000 -60.3% 0.4%
    ASCENTRA $275,000 n/a 0.4%
    Carrington Mortgage Services, LLC $65,000 $265,000 307.7% 0.4%
    USAA Federal Savings Bank $95,000 $245,000 157.9% 0.4%
    First National Bank of Omaha $225,000 n/a 0.3%
    Tradesmen Community Credit Union $215,000 n/a 0.3%
    Community Choice Credit Union $295,000 $210,000 -28.8% 0.3%
    MARINE $210,000 n/a 0.3%
    JMAC LENDING, INC. $205,000 n/a 0.3%
    LOANDEPOT.COM, LLC $695,000 $200,000 -71.2% 0.3%
    ROYAL UNITED MORTGAGE LLC $190,000 n/a 0.3%
    DUPACO COMMUNITY $1,585,000 $185,000 -88.3% 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $185,000 n/a 0.3%
    HOMESERVICES LENDING, LLC $160,000 n/a 0.2%
    Ally Bank $175,000 $155,000 -11.4% 0.2%
    Collins Community Credit Union $620,000 $155,000 -75.0% 0.2%
    ENDEAVOR CAPITAL, LLC. $155,000 n/a 0.2%
    Points West Community Bank $135,000 n/a 0.2%
    Bank Star $125,000 n/a 0.2%
    Sierra Pacific Mortgage Company, Inc. $125,000 n/a 0.2%
    Mount Vernon Bank and Trust Company $115,000 n/a 0.2%
    GUILD MORTGAGE COMPANY $275,000 $105,000 -61.8% 0.2%
    Lincoln Savings Bank $435,000 $105,000 -75.9% 0.2%
    BMO Harris Bank $95,000 n/a 0.1%
    AMERICAN FINANCING CORPORATION $85,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $85,000 n/a 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $75,000 n/a 0.1%
    PHH Mortgage Corporation $75,000 n/a 0.1%
    Great Southern Bank $1,055,000 $70,000 -93.4% 0.1%
    DIGITAL Federal Credit Union $55,000 n/a 0.1%
    NAVY FEDERAL CREDIT UNION $815,000 $35,000 -95.7% 0.1%
    Southwest Airlines Federal Credit Union $35,000 n/a 0.1%
    Coastal Community Bank $25,000 n/a 0.0%

    Ottumwa's top lender by overall market share is COMMUNITY 1ST CREDIT UNION, with 31.7% market share. In second place, with 9.9%, is U.S. Bank, having originated $6,420,000 in loans. In third place, with 5.3%, is Hills Bank and Trust Company, having originated $3,435,000 in loans. In fourth place, with 4.3%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $2,780,000 in loans. In fifth place, with 4.1%, is QUICKEN LOANS, LLC, having originated $2,660,000 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 $177,350 (24.6%) $205,180 (26.9%) 0.00 52
    2023-06-01 $166,100 (36.3%) $199,480 (30.4%) 0.00 56
    2023-07-01 $174,000 (29.9%) $210,512 (31.1%) 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
    2024-01-01 $145,725 (5.3%) $178,148 (3.1%) 0.00 58
    2024-02-01 $157,400 (17.7%) $189,773 (14.9%) 0.00 55
    2024-03-01 $149,450 (15.0%) $190,856 (15.1%) 0.00 57
    Ottumwa's median listing price for 2024-03-01 was $149,450, a difference of $19,450 (15.0%) versus the prior year and $-7,950 versus the prior month.

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

    Ottumwa's average listing price for 2024-03-01 was $190,856, a difference of $25,069 (15.1%) versus the prior year and $1,083 versus the prior month.

    For the 2024-03-01 period, Ottumwa had 57 MLS listings, a difference of 2 listings (4%) versus the prior month and 10 listings (21%) 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 1,512 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
    2024-01-01 0 days 1,443 sqft
    2024-02-01 0 days 1,458 sqft
    2024-03-01 0 days 1,223 sqft
    Ottumwa's median listing age (time on market) for 2024-03-01 was 0 days.

    Ottumwa's median square footage for active listings during the 2024-03-01 period was 1,223 sqft. One year prior, the average listing was 1,468 sqft.

    Ottumwa, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 344 $50,440,000 $146,628
    Cash Out Refi 104 $5,900,000 $56,731
    Refi 83 $6,565,000 $79,096
    Home Improvement 21 $1,055,000 $50,238
    Other 17 $585,000 $34,412

    Ottumwa's most frequently cited loan purpose was Home Purchase, with 344 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 175 $24,685,000 $141,057
    <2.5% 107 $4,405,000 $41,168
    7-8% 107 $13,875,000 $129,673
    5-6% 85 $12,205,000 $143,588
    Over 8% 48 $3,590,000 $74,792
    4-5% 5 $395,000 $79,000

    During 2023, Ottumwa's most frequently originated rate bucket was 6-7%, with 175 originations.

    Loan Sizing (Ottumwa, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 324 $16,860,000 $52,037
    $100k-200k 180 $25,240,000 $140,222
    $200k-400k 58 $14,980,000 $258,276
    $400k-600k 4 $1,930,000 $482,500
    $Over $1MM 2 $4,930,000 $2,465,000
    $600k-1000k 1 $605,000 $605,000

    Ottumwa's loan sizing saw the bucket of loans from $100,000 or less with 324 originations, totaling $16,860,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 241 $34,485,000 $143,091
    60-80% 88 $10,720,000 $121,818
    Under 20% 78 $2,360,000 $30,256
    20-40% 77 $3,715,000 $48,247
    40-60% 35 $6,515,000 $186,143
    Over 100% 1 $325,000 $325,000

    Ottumwa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 241 originations, totaling $34,485,000 in origination value.