Ottumwa Mortgage Rates

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  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Loan Attributes
  • Market Conditions & Pricing
  • Time on Market/Property Size
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Ottumwa averaged 6.28% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

    The average rate for the prior week (2022-06-16) was 6.25% and one month ago for the week of 2022-05-19, the average rate was 5.52%.

    Ottumwa's average rate one year ago was 3.17%.

    For refis of the same type during the week of 2022-06-23, the average rate was 6.15%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-23 5.81%
    Ottumwa 30 Year Fixed Rate 2022-06-23 6.28%
    Ottumwa 30 Year Fixed Rate Refi 2022-06-23 6.15%
    Ottumwa 15 Year Fixed Rate 2022-06-23 5.63%
    Ottumwa 15 Year Fixed Rate Refi 2022-06-23 5.1%
    Ottumwa 30 Year FHA 2022-06-23 0.34%
    Ottumwa 30 Year FHA Refi 2022-06-23 0.18%
    Ottumwa 30 Year USDA 2022-06-23 -0.14%
    Ottumwa 30 Year VA 2022-06-23 0.25%
    Ottumwa 30 Year VA Refi 2022-06-23 -0.06%
    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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    COMMUNITY 1ST CREDIT UNION 71 3.43% $2,033
    U.S. Bank 43 3.02% $2,455
    West Gate Bank 34 2.93% $2,120
    Wells Fargo Bank 25 3.41% $2,167
    QUICKEN LOANS, LLC 21 3.12% $4,205
    IOWA BANKERS MORTGAGE CORPORATION 13 3.17% $2,773
    GREENSTATE CREDIT UNION 12 3.10% $1,895
    Deere Employees Credit Union 11 2.59% $2,800
    Mr. Cooper ( Nationstar Mortgage ) 4 3.47% $4,002
    Collins Community Credit Union 3 2.71% $2,393
    Midwest Heritage Bank FSB 3 3.00% $2,228
    AMERICAN FINANCING CORPORATION 2 3.50% $3,340
    AMERISAVE MORTGAGE CORPORATION 2 3.18% $6,304
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $3,008
    Flagstar Bank, FSB 2 3.06% $3,606
    GUILD MORTGAGE COMPANY 2 3.13% $2,628
    Luana Savings Bank 2 3.38% $1,320
    MidWestOne Bank 2 2.81% $2,137
    VERIDIAN CREDIT UNION 2 2.69% $1,821
    LOANDEPOT.COM, LLC 1 3.38% $3,244
    Waterstone Mortgage Corporation 1 3.38% $3,627
    MARINE 1 8.73% $4,124
    FREEDOM MORTGAGE CORPORATION 1 2.88% $2,168
    Bank Iowa 1 3.38% $1,834
    Mortgage Research Center, LLC 1 2.99% $2,465
    Farm Credit Mid-America, ACA 1 3.65% $3,285
    NAVY FEDERAL CREDIT UNION 1 3.00% $2,044
    PENNYMAC LOAN SERVICES, LLC 1 4.25% $2,023
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.38% $2,766
    DUPACO COMMUNITY 1 2.38% $1,931
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $3,120
    CHURCHILL MORTGAGE CORPORATION 1 3.50% $4,011
    Arvest Bank 1 3.50% $1,665
    Great Western Bank 1 3.00% $1,941
    Vibrant Credit Union 1 3.50% $1,689
    Gateway First Bank 1 3.25% $2,262
    Lincoln Savings Bank 1 3.50% $2,437

    Ottumwa, IA's 37 lenders originated 753 loans during 2021. The total origination value was $85,945,000, with an average loan value of $114,137.

    The top Ottumwa lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with 71 loans originated. Their average total fees are $2,033, which is $422 lower than the next largest lender, U.S. Bank.

    The lowest fee Ottumwa lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION ($1,895), COMMUNITY 1ST CREDIT UNION ($2,033), West Gate Bank ($2,120), Wells Fargo Bank ($2,167) and U.S. Bank ($2,455).

    The lowest rate Ottumwa lenders (with over 10 loans originated) are Deere Employees Credit Union (2.59%), West Gate Bank (2.93%), U.S. Bank (3.02%), GREENSTATE CREDIT UNION (3.10%) and QUICKEN LOANS, LLC (3.12%).

    Ottumwa, IA Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    COMMUNITY 1ST CREDIT UNION $16,885,000 $20,095,000 19.0% 23.4%
    U.S. Bank $7,670,000 $10,460,000 36.4% 12.2%
    QUICKEN LOANS, LLC $6,885,000 $9,110,000 32.3% 10.6%
    West Gate Bank $9,470,000 $7,320,000 -22.7% 8.5%
    Wells Fargo Bank $5,065,000 $6,400,000 26.4% 7.4%
    MidWestOne Bank $695,000 $2,975,000 328.1% 3.5%
    IOWA BANKERS MORTGAGE CORPORATION $3,545,000 $2,840,000 -19.9% 3.3%
    GREENSTATE CREDIT UNION $650,000 $2,835,000 336.2% 3.3%
    Deere Employees Credit Union $3,415,000 $2,735,000 -19.9% 3.2%
    Mortgage Research Center, LLC $1,835,000 $1,935,000 5.4% 2.3%
    GUILD MORTGAGE COMPANY $2,540,000 $1,360,000 -46.5% 1.6%
    LOANDEPOT.COM, LLC $355,000 $1,240,000 249.3% 1.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $475,000 $1,185,000 149.5% 1.4%
    Washington State Bank $830,000 $1,185,000 42.8% 1.4%
    Mr. Cooper ( Nationstar Mortgage ) $425,000 $1,075,000 152.9% 1.3%
    FREEDOM MORTGAGE CORPORATION $1,235,000 $800,000 -35.2% 0.9%
    PENNYMAC LOAN SERVICES, LLC $760,000 n/a 0.9%
    Vibrant Credit Union $725,000 n/a 0.8%
    Barrington Bank & Trust Company, N.A. $500,000 $660,000 32.0% 0.8%
    Midwest Heritage Bank FSB $95,000 $620,000 552.6% 0.7%
    Collins Community Credit Union $255,000 $560,000 119.6% 0.7%
    CROSSCOUNTRY MORTGAGE, LLC $555,000 n/a 0.6%
    NEWREZ LLC $555,000 n/a 0.6%
    CHURCHILL MORTGAGE CORPORATION $510,000 n/a 0.6%
    ALLIANT $290,000 $465,000 60.3% 0.5%
    AMERISAVE MORTGAGE CORPORATION $135,000 $435,000 222.2% 0.5%
    Farm Credit Mid-America, ACA $875,000 $435,000 -50.3% 0.5%
    VERIDIAN CREDIT UNION $550,000 $405,000 -26.4% 0.5%
    UNITED WHOLESALE MORTGAGE, LLC $345,000 n/a 0.4%
    Flagstar Bank, FSB $155,000 $325,000 109.7% 0.4%
    Waterstone Mortgage Corporation $120,000 $315,000 162.5% 0.4%
    VILLAGE CAPITAL & INVESTMENT LLC $65,000 $305,000 369.2% 0.4%
    NAVY FEDERAL CREDIT UNION $85,000 $290,000 241.2% 0.3%
    Luana Savings Bank $125,000 $280,000 124.0% 0.3%
    AMERICAN FINANCING CORPORATION $270,000 n/a 0.3%
    LAND HOME FINANCIAL SERVICES, INC. $105,000 $245,000 133.3% 0.3%
    CBI Bank & Trust $220,000 n/a 0.3%
    HOMESIDE FINANCIAL, LLC $215,000 n/a 0.3%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $410,000 $205,000 -50.0% 0.2%
    UNIVERSAL LENDING CORPORATION $55,000 $195,000 254.5% 0.2%
    Bank Iowa $1,415,000 $190,000 -86.6% 0.2%
    ZILLOW HOME LOANS, LLC $165,000 n/a 0.2%
    DUPACO COMMUNITY $155,000 n/a 0.2%
    Gateway First Bank $145,000 n/a 0.2%
    Low VA Rates, LLC $125,000 $145,000 16.0% 0.2%
    GERSHMAN INVESTMENT CORP. $60,000 $130,000 116.7% 0.2%
    Great Western Bank $115,000 n/a 0.1%
    MOVEMENT MORTGAGE, LLC $115,000 n/a 0.1%
    RESIDENTIAL MORTGAGE NETWORK, INC. $115,000 n/a 0.1%
    STEARNS LENDING, LLC $115,000 n/a 0.1%
    Carrington Mortgage Services, LLC $110,000 n/a 0.1%
    FINANCE OF AMERICA REVERSE LLC $95,000 n/a 0.1%
    NEW DAY FINANCIAL, LLC $95,000 n/a 0.1%
    MARINE $85,000 n/a 0.1%
    Northpointe Bank $85,000 n/a 0.1%
    Citibank $15,000 $75,000 400.0% 0.1%
    FRONTIER FINANCIAL, INC. $145,000 $75,000 -48.3% 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $75,000 n/a 0.1%
    Lincoln Savings Bank $145,000 $65,000 -55.2% 0.1%
    AMERICAN ADVISORS GROUP $55,000 n/a 0.1%
    Arvest Bank $55,000 n/a 0.1%
    Bank of the West $55,000 n/a 0.1%
    Chickasaw Community Bank $45,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $45,000 n/a 0.1%
    Figure Lending LLC $35,000 n/a 0.0%
    Hills Bank and Trust Company $35,000 n/a 0.0%
    Southwest Airlines Federal Credit Union $75,000 $25,000 -66.7% 0.0%

    Ottumwa's top lender by overall market share is COMMUNITY 1ST CREDIT UNION, with 23.4% market share. In second place, with 12.2%, is U.S. Bank, having originated $10,460,000 in loans. In third place, with 10.6%, is QUICKEN LOANS, LLC, having originated $9,110,000 in loans. In third place, with 8.5%, is West Gate Bank, having originated $7,320,000 in loans. In third place, with 7.4%, is Wells Fargo Bank, having originated $6,400,000 in loans.

    Ottumwa, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 369 $44,605,000 $120,881
    Cash Out Refi 181 $16,175,000 $89,365
    Refi 179 $23,415,000 $130,810
    Home Improvement 14 $850,000 $60,714
    Other 10 $900,000 $90,000

    Ottumwa's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Cash Out Refi, with 181 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    2.5-3% 277 $36,875,000 $133,123
    3-4% 261 $30,795,000 $117,989
    <2.5% 138 $13,030,000 $94,420
    4-5% 44 $3,130,000 $71,136
    5-6% 8 $230,000 $28,750
    6-7% 2 $70,000 $35,000
    Over 8% 2 $120,000 $60,000
    7-8% 1 $35,000 $35,000

    During 2021, Ottumwa's most frequently originated rate bucket was 2.5-3%, with 277 originations.

    Loan Sizing (Ottumwa, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 381 $22,245,000 $58,386
    $100k-200k 291 $40,575,000 $139,433
    $200k-400k 75 $18,465,000 $246,200
    $600k-1000k 3 $2,485,000 $828,333
    $400k-600k 2 $860,000 $430,000
    $Over $1MM 1 $1,315,000 $1,315,000

    Ottumwa's loan sizing saw the bucket of loans from $100,000 or less with 381 originations, totaling $22,245,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 361 $47,345,000 $131,150
    60-80% 192 $23,240,000 $121,042
    20-40% 62 $3,530,000 $56,935
    40-60% 60 $7,220,000 $120,333
    Under 20% 46 $1,030,000 $22,391
    Over 100% 2 $360,000 $180,000

    Ottumwa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 361 originations, totaling $47,345,000 in origination value.

    Market Conditions (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 $89,000 (-18.9%) $124,285 (-3.7%) 0.00 127
    2018-02-01 $83,750 (-23.9%) $110,744 (-15.3%) 0.00 130
    2018-03-01 $84,900 (-27.9%) $119,830 (-13.5%) 0.00 133
    2018-04-01 $93,900 (-21.1%) $129,187 (-7.7%) 0.00 139
    2018-05-01 $99,000 (-11.8%) $132,133 (-7.0%) 0.00 144
    2018-06-01 $95,000 (-17.0%) $131,097 (-10.0%) 0.00 150
    2018-07-01 $94,950 (-13.7%) $130,237 (-10.2%) 0.00 172
    2018-08-01 $97,250 (-7.8%) $132,841 (-6.3%) 0.00 178
    2018-09-01 $99,900 (-8.4%) $133,450 (0.3%) 0.00 178
    2018-10-01 $107,450 (8.0%) $133,487 (8.5%) 0.00 175
    2018-11-01 $117,450 (12.0%) $136,104 (10.4%) 0.00 174
    2018-12-01 $112,900 (25.4%) $133,916 (10.1%) 0.00 167
    2019-01-01 $115,000 (29.2%) $137,606 (10.7%) 0.00 154
    2019-02-01 $112,900 (34.8%) $135,684 (22.5%) 0.00 149
    2019-03-01 $114,657 (35.1%) $141,401 (18.0%) 0.00 141
    2019-04-01 $115,707 (23.2%) $145,811 (12.9%) 0.00 136
    2019-05-01 $108,250 (9.3%) $136,781 (3.5%) 0.00 147
    2019-06-01 $109,000 (14.7%) $138,717 (5.8%) 0.00 148
    2019-07-01 $122,000 (28.5%) $143,823 (10.4%) 0.00 154
    2019-08-01 $120,814 (24.2%) $146,020 (9.9%) 0.00 152
    2019-09-01 $123,450 (23.6%) $152,103 (14.0%) 0.00 149
    2019-10-01 $125,750 (17.0%) $149,971 (12.4%) 0.00 156
    2019-11-01 $129,000 (9.8%) $153,393 (12.7%) 0.00 145
    2019-12-01 $124,500 (10.3%) $151,484 (13.1%) 0.00 133
    2020-01-01 $129,000 (12.2%) $154,781 (12.5%) 0.00 127
    2020-02-01 $129,900 (15.1%) $159,118 (17.3%) 0.00 121
    2020-03-01 $142,250 (24.1%) $159,858 (13.1%) 0.00 120
    2020-04-01 $149,500 (29.2%) $163,441 (12.1%) 0.00 117
    2020-05-01 $155,000 (43.2%) $168,321 (23.1%) 0.00 109
    2020-06-01 $157,625 (44.6%) $178,228 (28.5%) 0.00 101
    2020-07-01 $155,250 (27.3%) $176,867 (23.0%) 0.00 94
    2020-08-01 $158,000 (30.8%) $200,910 (37.6%) 0.00 90
    2020-09-01 $154,000 (24.8%) $186,321 (22.5%) 0.00 84
    2020-10-01 $138,500 (10.1%) $157,624 (5.1%) 0.00 82
    2020-11-01 $138,000 (7.0%) $152,091 (-0.9%) 0.00 86
    2020-12-01 $138,750 (11.5%) $156,577 (3.4%) 0.00 71
    2021-01-01 $118,500 (-8.1%) $139,967 (-9.6%) 0.00 63
    2021-02-01 $124,450 (-4.2%) $155,862 (-2.1%) 0.00 67
    2021-03-01 $119,700 (-15.9%) $147,287 (-7.9%) 0.00 98
    2021-04-01 $119,000 (-20.4%) $143,746 (-12.1%) 0.00 109
    2021-05-01 $129,000 (-16.8%) $148,839 (-11.6%) 0.00 114
    2021-06-01 $126,500 (-19.8%) $147,500 (-17.2%) 0.00 105
    2021-07-01 $117,500 (-24.3%) $142,840 (-19.2%) 0.00 51
    2021-08-01 $109,000 (-31.0%) $123,300 (-38.6%) 0.00 59
    2021-09-01 $107,000 (-30.5%) $123,581 (-33.7%) 0.00 54
    2021-10-01 $107,900 (-22.1%) $158,693 (0.7%) 0.00 65
    2021-11-01 $105,000 (-23.9%) $158,674 (4.3%) 0.00 60
    2021-12-01 $104,750 (-24.5%) $155,443 (-0.7%) 0.00 58
    2022-01-01 $89,900 (-24.1%) $128,799 (-8.0%) 0.00 52
    2022-02-01 $99,950 (-19.7%) $141,755 (-9.1%) 0.00 49
    2022-03-01 $126,500 (5.7%) $161,952 (10.0%) 0.00 51
    2022-04-01 $135,000 (13.5%) $169,936 (18.2%) 0.00 51
    2022-05-01 $149,500 (15.9%) $170,316 (14.4%) 0.00 61
    Ottumwa's median listing price for 2022-05-01 was $149,500, a difference of $20,500 (15.9%) versus the prior year and $14,500 versus the prior month.

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

    Ottumwa's average listing price for 2022-05-01 was $170,316, a difference of $21,477 (14.4%) versus the prior year and $380 versus the prior month.

    For the 2022-05-01 period, Ottumwa had 61 MLS listings, a difference of 10 listings (20%) versus the prior month and -53 listings (-46%) 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 1,296 sqft
    2018-02-01 0 days 1,282 sqft
    2018-03-01 0 days 1,292 sqft
    2018-04-01 0 days 1,375 sqft
    2018-05-01 0 days 1,338 sqft
    2018-06-01 0 days 1,372 sqft
    2018-07-01 0 days 1,331 sqft
    2018-08-01 0 days 1,296 sqft
    2018-09-01 0 days 1,328 sqft
    2018-10-01 0 days 1,359 sqft
    2018-11-01 0 days 1,422 sqft
    2018-12-01 0 days 1,358 sqft
    2019-01-01 0 days 1,376 sqft
    2019-02-01 0 days 1,422 sqft
    2019-03-01 0 days 1,468 sqft
    2019-04-01 0 days 1,487 sqft
    2019-05-01 0 days 1,482 sqft
    2019-06-01 0 days 1,452 sqft
    2019-07-01 0 days 1,468 sqft
    2019-08-01 0 days 1,453 sqft
    2019-09-01 0 days 1,460 sqft
    2019-10-01 0 days 1,431 sqft
    2019-11-01 0 days 1,447 sqft
    2019-12-01 0 days 1,366 sqft
    2020-01-01 0 days 1,438 sqft
    2020-02-01 0 days 1,400 sqft
    2020-03-01 0 days 1,400 sqft
    2020-04-01 0 days 1,517 sqft
    2020-05-01 0 days 1,476 sqft
    2020-06-01 0 days 1,470 sqft
    2020-07-01 0 days 1,474 sqft
    2020-08-01 0 days 1,506 sqft
    2020-09-01 0 days 1,500 sqft
    2020-10-01 0 days 1,452 sqft
    2020-11-01 0 days 1,458 sqft
    2020-12-01 0 days 1,448 sqft
    2021-01-01 0 days 1,444 sqft
    2021-02-01 0 days 1,360 sqft
    2021-03-01 0 days 1,316 sqft
    2021-04-01 0 days 1,291 sqft
    2021-05-01 0 days 1,346 sqft
    2021-06-01 0 days 1,321 sqft
    2021-07-01 0 days 1,280 sqft
    2021-08-01 0 days 1,237 sqft
    2021-09-01 0 days 1,264 sqft
    2021-10-01 0 days 1,280 sqft
    2021-11-01 0 days 1,242 sqft
    2021-12-01 0 days 1,184 sqft
    2022-01-01 0 days 1,158 sqft
    2022-02-01 0 days 1,179 sqft
    2022-03-01 0 days 1,332 sqft
    2022-04-01 0 days 1,305 sqft
    2022-05-01 0 days 1,350 sqft
    Ottumwa's median listing age (time on market) for 2022-05-01 was 0 days.

    Ottumwa's median square footage for active listings during the 2022-05-01 period was 1,350 sqft. One year prior, the average listing was 1,346 sqft.