Pella Mortgage Rates

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Pella averaged 5.87% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

The average rate for the prior week (2022-06-23) was 5.88% and one month ago for the week of 2022-05-26, the average rate was 4.97%.

Pella's average rate one year ago was 3.28%.

For refis of the same type during the week of 2022-06-30, the average rate was 5.85%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
Pella 30 Year Fixed Rate 2022-06-30 5.87%
Pella 30 Year Fixed Rate Refi 2022-06-30 5.85%
Pella 15 Year Fixed Rate 2022-06-30 5.48%
Pella 15 Year Fixed Rate Refi 2022-06-30 5.24%
Pella 30 Year FHA 2022-06-30 5.64%
Pella 30 Year FHA Refi 2022-06-30 5.83%
Pella 30 Year USDA 2022-06-30 5.5%
Pella 30 Year USDA Refi 2022-06-30 6.16%
Pella 30 Year VA 2022-06-30 5.6%
Pella 30 Year VA Refi 2022-06-30 5.38%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Pella, IA.

Pella 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 Pella, 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
IOWA BANKERS MORTGAGE CORPORATION 199 2.87% $1,706
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 40 3.12% $2,980
Wells Fargo Bank 39 3.36% $2,116
QUICKEN LOANS, LLC 29 3.14% $4,694
GREENSTATE CREDIT UNION 22 3.10% $2,194
West Gate Bank 20 2.86% $1,834
Bank Iowa 17 2.85% $1,876
U.S. Bank 14 3.06% $2,498
COMMUNITY 1ST CREDIT UNION 13 3.24% $1,840
MidWestOne Bank 13 3.06% $2,521
Lincoln Savings Bank 9 3.03% $2,509
HOMESERVICES LENDING, LLC 8 3.14% $2,843
VERIDIAN CREDIT UNION 8 2.97% $1,796
Collins Community Credit Union 7 2.98% $1,505
Farm Credit Mid-America, ACA 7 3.52% $6,468
Luana Savings Bank 6 3.12% $1,471
LAND HOME FINANCIAL SERVICES, INC. 5 3.15% $3,147
Fortress Bank 4 3.31% $2,463
Great Southern Bank 4 3.01% $2,688
Midwest Heritage Bank FSB 4 3.09% $2,257
GUILD MORTGAGE COMPANY 4 2.84% $2,468
LOANDEPOT.COM, LLC 4 3.06% $4,890
Truist Bank 4 2.94% $2,368
FREEDOM MORTGAGE CORPORATION 4 3.41% $3,724
GUARANTEED RATE, INC. 3 3.21% $2,680
COMPASS MORTGAGE, INC. 3 3.21% $3,840
Northwest Bank 3 3.21% $3,080
PENNYMAC LOAN SERVICES, LLC 3 3.33% $2,511
FINANCE OF AMERICA MORTGAGE LLC 3 3.08% $2,866
Flagstar Bank, FSB 3 3.16% $2,861
Barrington Bank & Trust Company, N.A. 3 3.04% $2,527
HOME POINT FINANCIAL CORPORATION 3 2.95% $2,089
Ixonia Bank 3 3.21% $3,894
JPMorgan Chase Bank 3 2.96% $3,519
Deere Employees Credit Union 2 2.63% $2,809
BETTER MORTGAGE CORPORATION 2 3.06% $4,262
AMERISAVE MORTGAGE CORPORATION 2 3.56% $4,716
INLANTA MORTGAGE, INC. 2 3.19% $3,057
INSPIRE HOME LOANS INC. 2 3.00% $2,986
Paramount Residential Mortgage Group, Inc. 2 3.38% $2,993
Mr. Cooper ( Nationstar Mortgage ) 2 3.19% $3,101
GERSHMAN INVESTMENT CORP. 2 3.31% $2,425
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.31% $5,269
Bankers Trust Company 2 3.18% $2,564
WINGS FINANCIAL 1 2.25% $2,744
Bankers' Bank 1 2.88% $5,844
BROKER SOLUTIONS, INC. 1 2.99% $6,725
CALIBER HOME LOANS, INC. 1 2.90% $2,820
Central Bank 1 3.00% $2,118
CMG MORTGAGE, INC. 1 3.00% $4,022
Community Choice Credit Union 1 2.88% $2,055
DAS Acquisition Company, LLC 1 2.88% $4,197
DUPACO COMMUNITY 1 2.38% $2,511
Farmers State Bank 1 3.75% $1,737
First National Bank of Omaha 1 2.88% $1,911
Gateway First Bank 1 3.25% $3,082
GREATER IOWA CREDIT UNION 1 3.00% $1,568
Great Western Bank 1 3.25% $2,353
Merchants Bank 1 2.90% $4,083
MOVEMENT MORTGAGE, LLC 1 3.50% $3,384
Regions Bank 1 2.88% $5,249
RESIDENTIAL BANCORP. 1 3.13% $3,998
Serve Credit Union 1 3.00% $2,235
SIRVA MORTGAGE, INC. 1 3.00% $785
SOFI LENDING CORP. 1 3.13% $2,532
STEARNS LENDING, LLC 1 2.75% $4,719
The Central Trust Bank 1 2.88% $1,828
The Huntington National Bank 1 3.13% $2,784
UNITED WHOLESALE MORTGAGE, LLC 1 2.88% $2,161
Vibrant Credit Union 1 2.63% $2,130
Waterstone Mortgage Corporation 1 2.88% $2,608
American Bank & Trust 1 3.50% $4,585

Pella, IA's 72 lenders originated 1,338 loans during 2021. The total origination value was $254,640,000, with an average loan value of $190,314.

The top Pella lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with 199 loans originated. Their average total fees are $1,706, which is $1,274 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Pella lenders (with over 10 loans originated) are IOWA BANKERS MORTGAGE CORPORATION ($1,706), West Gate Bank ($1,834), COMMUNITY 1ST CREDIT UNION ($1,840), Bank Iowa ($1,876) and Wells Fargo Bank ($2,116).

The lowest rate Pella lenders (with over 10 loans originated) are Bank Iowa (2.85%), West Gate Bank (2.86%), IOWA BANKERS MORTGAGE CORPORATION (2.87%), MidWestOne Bank (3.06%) and U.S. Bank (3.06%).

Pella, 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
IOWA BANKERS MORTGAGE CORPORATION $61,710,000 $51,435,000 -16.7% 20.2%
MidWestOne Bank $8,210,000 $25,325,000 208.5% 9.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $18,835,000 $14,255,000 -24.3% 5.6%
Wells Fargo Bank $10,570,000 $14,195,000 34.3% 5.6%
QUICKEN LOANS, LLC $12,880,000 $12,860,000 -0.2% 5.1%
Leighton State Bank $5,125,000 $9,135,000 78.2% 3.6%
Bank Iowa $13,655,000 $7,995,000 -41.5% 3.1%
GREENSTATE CREDIT UNION $4,570,000 $7,775,000 70.1% 3.1%
U.S. Bank $8,095,000 $7,155,000 -11.6% 2.8%
West Gate Bank $7,290,000 $7,090,000 -2.7% 2.8%
Washington State Bank $6,290,000 $6,520,000 3.7% 2.6%
COMMUNITY 1ST CREDIT UNION $5,420,000 $6,485,000 19.6% 2.5%
Lincoln Savings Bank $3,815,000 $3,840,000 0.7% 1.5%
VERIDIAN CREDIT UNION $3,705,000 $3,790,000 2.3% 1.5%
FREEDOM MORTGAGE CORPORATION $1,705,000 $3,585,000 110.3% 1.4%
Luana Savings Bank $2,110,000 $3,270,000 55.0% 1.3%
Mr. Cooper ( Nationstar Mortgage ) $1,500,000 $2,425,000 61.7% 1.0%
Farm Credit Mid-America, ACA $1,700,000 $2,360,000 38.8% 0.9%
Collins Community Credit Union $2,285,000 $2,285,000 0.0% 0.9%
HOMESERVICES LENDING, LLC $2,485,000 $2,175,000 -12.5% 0.9%
COMPASS MORTGAGE, INC. $1,925,000 $1,965,000 2.1% 0.8%
Mortgage Research Center, LLC $2,615,000 $1,960,000 -25.0% 0.8%
LOANDEPOT.COM, LLC $605,000 $1,915,000 216.5% 0.8%
Barrington Bank & Trust Company, N.A. $535,000 $1,870,000 249.5% 0.7%
GERSHMAN INVESTMENT CORP. $1,940,000 $1,735,000 -10.6% 0.7%
Fortress Bank $2,665,000 $1,685,000 -36.8% 0.7%
USAA Federal Savings Bank $205,000 $1,485,000 624.4% 0.6%
PENNYMAC LOAN SERVICES, LLC $835,000 $1,400,000 67.7% 0.5%
Ixonia Bank $145,000 $1,395,000 862.1% 0.5%
Midwest Heritage Bank FSB $650,000 $1,395,000 114.6% 0.5%
LAKEVIEW LOAN SERVICING, LLC $725,000 $1,360,000 87.6% 0.5%
Peoples Savings Bank $1,150,000 $1,345,000 17.0% 0.5%
CORNHUSKER BANK $1,225,000 n/a 0.5%
Great Southern Bank $3,540,000 $1,130,000 -68.1% 0.4%
Bankers Trust Company $1,080,000 n/a 0.4%
GUARANTEED RATE, INC. $750,000 $1,060,000 41.3% 0.4%
JPMorgan Chase Bank $710,000 $1,035,000 45.8% 0.4%
UNITED WHOLESALE MORTGAGE, LLC $865,000 $980,000 13.3% 0.4%
GREATER IOWA CREDIT UNION $965,000 $945,000 -2.1% 0.4%
BETTER MORTGAGE CORPORATION $340,000 $910,000 167.6% 0.4%
HOME POINT FINANCIAL CORPORATION $305,000 $905,000 196.7% 0.4%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $475,000 $880,000 85.3% 0.3%
BROKER SOLUTIONS, INC. $825,000 $865,000 4.8% 0.3%
GUILD MORTGAGE COMPANY $1,515,000 $860,000 -43.2% 0.3%
Chickasaw Community Bank $500,000 $835,000 67.0% 0.3%
Northwest Bank $415,000 $835,000 101.2% 0.3%
LAND HOME FINANCIAL SERVICES, INC. $1,430,000 $800,000 -44.1% 0.3%
Flagstar Bank, FSB $145,000 $785,000 441.4% 0.3%
American State Bank $125,000 $750,000 500.0% 0.3%
AMERISAVE MORTGAGE CORPORATION $1,475,000 $710,000 -51.9% 0.3%
Paramount Residential Mortgage Group, Inc. $215,000 $685,000 218.6% 0.3%
Community Choice Credit Union $1,900,000 $680,000 -64.2% 0.3%
FINANCE OF AMERICA MORTGAGE LLC $250,000 $680,000 172.0% 0.3%
Low VA Rates, LLC $85,000 $670,000 688.2% 0.3%
Truist Bank $265,000 $640,000 141.5% 0.3%
NBKC BANK $610,000 n/a 0.2%
DUPACO COMMUNITY $580,000 n/a 0.2%
INLANTA MORTGAGE, INC. $540,000 $560,000 3.7% 0.2%
CALIBER HOME LOANS, INC. $235,000 $555,000 136.2% 0.2%
Deere Employees Credit Union $85,000 $550,000 547.1% 0.2%
LEADERONE FINANCIAL CORPORATION $165,000 $545,000 230.3% 0.2%
VILLAGE CAPITAL & INVESTMENT LLC $525,000 $545,000 3.8% 0.2%
HOMESIDE FINANCIAL, LLC $585,000 $535,000 -8.5% 0.2%
21ST MORTGAGE CORPORATION $335,000 $525,000 56.7% 0.2%
The Central Trust Bank $520,000 n/a 0.2%
UNIVERSAL LENDING CORPORATION $505,000 n/a 0.2%
Serve Credit Union $315,000 $500,000 58.7% 0.2%
Servion, Inc. $500,000 n/a 0.2%
WINGS FINANCIAL $495,000 n/a 0.2%
American Bank & Trust $480,000 n/a 0.2%
SOVEREIGN LENDING GROUP INCORPORATED $680,000 $445,000 -34.6% 0.2%
DAS Acquisition Company, LLC $685,000 $440,000 -35.8% 0.2%
Great Western Bank $255,000 $440,000 72.5% 0.2%
MARINE $410,000 $440,000 7.3% 0.2%
SIRVA MORTGAGE, INC. $315,000 $435,000 38.1% 0.2%
The Huntington National Bank $435,000 n/a 0.2%
INSPIRE HOME LOANS INC. $430,000 n/a 0.2%
PLAZA HOME MORTGAGE, INC. $390,000 n/a 0.2%
Equity Prime Mortgage LLC $345,000 $355,000 2.9% 0.1%
Availa Bank $345,000 n/a 0.1%
Regions Bank $35,000 $335,000 857.1% 0.1%
Bankers' Bank $325,000 n/a 0.1%
CROSSCOUNTRY MORTGAGE, LLC $185,000 $325,000 75.7% 0.1%
MOVEMENT MORTGAGE, LLC $320,000 n/a 0.1%
SOFI LENDING CORP. $290,000 n/a 0.1%
Waterstone Mortgage Corporation $285,000 n/a 0.1%
NEWREZ LLC $145,000 $280,000 93.1% 0.1%
Merchants Bank $265,000 n/a 0.1%
Manufacturers and Traders Trust Company $260,000 n/a 0.1%
MORTGAGE ACCESS CORP. $245,000 n/a 0.1%
STEARNS LENDING, LLC $675,000 $245,000 -63.7% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $625,000 $235,000 -62.4% 0.1%
AMERICAN ADVISORS GROUP $90,000 $230,000 155.6% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $230,000 n/a 0.1%
RESIDENTIAL MORTGAGE NETWORK, INC. $105,000 $230,000 119.0% 0.1%
CMG MORTGAGE, INC. $225,000 n/a 0.1%
MEMBERS1st Community Credit Union $215,000 n/a 0.1%
NAVY FEDERAL CREDIT UNION $685,000 $215,000 -68.6% 0.1%
AMCAP MORTGAGE, LTD. $165,000 $205,000 24.2% 0.1%
Bank of America $1,145,000 $205,000 -82.1% 0.1%
TOP FLITE FINANCIAL, INC. $265,000 $205,000 -22.6% 0.1%
Vibrant Credit Union $205,000 n/a 0.1%
Gateway First Bank $235,000 $195,000 -17.0% 0.1%
MORTGAGE SOLUTIONS OF COLORADO, LLC $560,000 $195,000 -65.2% 0.1%
UMB Bank $125,000 $195,000 56.0% 0.1%
Bank of England $205,000 $185,000 -9.8% 0.1%
Farmers State Bank $1,105,000 $180,000 -83.7% 0.1%
PLANET HOME LENDING, LLC $175,000 n/a 0.1%
Premier Credit Union $55,000 $175,000 218.2% 0.1%
LIBERTY HOME MORTGAGE CORPORATION $165,000 n/a 0.1%
MID AMERICA MORTGAGE, INC. $165,000 n/a 0.1%
Central Bank $700,000 $155,000 -77.9% 0.1%
NP, Inc. $155,000 n/a 0.1%
RESIDENTIAL BANCORP. $145,000 n/a 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $135,000 n/a 0.1%
Keystone Savings Bank $940,000 $135,000 -85.6% 0.1%
NEW DAY FINANCIAL, LLC $525,000 $125,000 -76.2% 0.0%
Chicago Mortgage Solutions LLC $115,000 n/a 0.0%
Bank of the West $105,000 n/a 0.0%
NATIONWIDE MORTGAGE BANKERS, INC. $105,000 n/a 0.0%
Raccoon Valley Bank $530,000 $105,000 -80.2% 0.0%
Carrington Mortgage Services, LLC $95,000 n/a 0.0%
FINANCE OF AMERICA REVERSE LLC $95,000 n/a 0.0%
First National Bank of Omaha $85,000 n/a 0.0%
STAR USA FEDERAL CREDIT UNION $85,000 n/a 0.0%
TRIAD FINANCIAL SERVICES, INC. $155,000 $85,000 -45.2% 0.0%
Plains Commerce Bank $410,000 $75,000 -81.7% 0.0%
Citibank $65,000 n/a 0.0%

Pella's top lender by overall market share is IOWA BANKERS MORTGAGE CORPORATION, with 20.2% market share. In second place, with 9.9%, is MidWestOne Bank, having originated $25,325,000 in loans. In third place, with 5.6%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $14,255,000 in loans. In third place, with 5.6%, is Wells Fargo Bank, having originated $14,195,000 in loans. In third place, with 5.1%, is QUICKEN LOANS, LLC, having originated $12,860,000 in loans.


Pella, IA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 507 $96,345,000 $190,030
Refi 494 $106,730,000 $216,053
Cash Out Refi 284 $46,860,000 $165,000
Home Improvement 28 $2,380,000 $85,000
Other 25 $2,325,000 $93,000

Pella's most frequently cited loan purpose was Home Purchase, with 507 originations. The 2nd most popular reason was Refi, with 494 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 577 $103,985,000 $180,217
3-4% 342 $62,400,000 $182,456
<2.5% 273 $65,215,000 $238,883
4-5% 36 $3,860,000 $107,222
5-6% 12 $480,000 $40,000
Over 8% 8 $480,000 $60,000
7-8% 5 $495,000 $99,000
6-7% 4 $240,000 $60,000

During 2021, Pella's most frequently originated rate bucket was 2.5-3%, with 577 originations.

Loan Sizing (Pella, IA MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 606 $89,850,000 $148,267
$200k-400k 386 $101,170,000 $262,098
$100,000 or less 300 $18,420,000 $61,400
$400k-600k 37 $17,185,000 $464,459
$Over $1MM 6 $25,480,000 $4,246,667
$600k-1000k 3 $2,535,000 $845,000

Pella's loan sizing saw the bucket of loans from $100k-200k with 606 originations, totaling $89,850,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 454 $89,970,000 $198,172
60-80% 402 $96,150,000 $239,179
40-60% 203 $31,835,000 $156,823
20-40% 99 $10,005,000 $101,061
Under 20% 66 $2,160,000 $32,727
Over 100% 8 $2,330,000 $291,250

Pella's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 454 originations, totaling $89,970,000 in origination value.