Ottumwa Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ottumwa averaged
6.46%
for the week of 2023-03-23, compared to the national average of
6.42% for the same period.
The average rate for the prior week (2023-03-16) was
6.84% and
one month ago for the week of 2023-02-16, the
average rate was 6.66%.
Ottumwa's average rate one year ago was 3.51%.
For refis of the same type during the week of 2023-03-23, the average rate
was 7.12%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-23 | 6.42% |
Ottumwa 30 Year Fixed Rate | 2023-03-23 | 6.46% |
Ottumwa 30 Year Fixed Rate Refi | 2023-03-23 | 7.12% |
Ottumwa 15 Year Fixed Rate | 2023-03-23 | 6.4% |
Ottumwa 15 Year Fixed Rate Refi | 2023-03-23 | 6.01% |
Ottumwa 30 Year FHA | 2023-03-23 | 6% |
Ottumwa 30 Year FHA Refi | 2023-03-23 | 5.95% |
Ottumwa 30 Year USDA | 2023-03-23 | 6.05% |
Ottumwa 30 Year VA | 2023-03-23 | 6.32% |
Ottumwa 30 Year VA Refi | 2023-03-23 | 6% |
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 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. LouisDate | 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%) | $106,182 (-17.2%) | 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 (19.5%) | 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 | $147,975 (33.9%) | $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 (-26.9%) | $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 |
Ottumwa's median listing price comes in at 0% of the national average.
Ottumwa's average listing price for 2023-02-01 was $165,178, a difference of $30,360 (22.5%) versus the prior year and $-7,552 versus the prior month.
For the 2023-02-01 period, Ottumwa had 54 MLS listings, a difference of -10 listings (-16%) versus the prior month and 9 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ottumwa (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,286 sqft |
2018-02-01 | 0 days | 1,258 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 | 1,503 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 | 1,382 sqft |
2020-11-01 | 0 days | 1,450 sqft |
2020-12-01 | 0 days | 1,432 sqft |
2021-01-01 | 0 days | 1,320 sqft |
2021-02-01 | 0 days | 1,289 sqft |
2021-03-01 | 0 days | 1,282 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 |
Ottumwa's median square footage for active listings during the 2023-02-01 period was 1,344 sqft. One year prior, the average listing was 1,175 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.