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 6.82% 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%
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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
COMMUNITY 1ST CREDIT UNION 69 6.89% $2,346
U.S. Bank 22 6.73% $2,784
West Gate Bank 18 6.26% $2,576
QUICKEN LOANS, LLC 11 6.92% $5,563
IOWA BANKERS MORTGAGE CORPORATION 8 6.75% $2,702
GREENSTATE CREDIT UNION 7 6.43% $2,334
BROKER SOLUTIONS, INC. 6 6.69% $4,721
Deere Employees Credit Union 6 5.76% $2,855
Wells Fargo Bank 4 6.69% $4,056
Community Choice Credit Union 2 6.69% $2,303
CROSSCOUNTRY MORTGAGE, LLC 2 6.66% $5,200
Bank Iowa 1 7.63% $2,415
LEADERONE FINANCIAL CORPORATION 1 7.99% $5,320
LOANDEPOT.COM, LLC 1 6.50% $14,589
MidWestOne Bank 1 6.75% $2,608
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.63% $13,689
Northwest Bank 1 6.63% $3,322
Quontic Bank 1 9.50% $6,655
Truist 1 6.88% $2,461
VERIDIAN CREDIT UNION 1 7.38% $2,405
Waterstone Mortgage Corporation 1 6.63% $7,029
Bank of America 1 6.38% $2,775
DUPACO COMMUNITY 1 6.25% $7,749
First Interstate Bank 1 7.13% $3,056
First National Bank of Omaha 1 6.63% $5,078
GUARANTEED RATE, INC. 1 6.50% $5,314
GUILD MORTGAGE COMPANY 1 6.50% $3,038

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.