Pella Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Pella averaged
6.39%
for the week of 2025-04-03, compared to the national average of
6.64% for the same period.
The average rate for the prior week (2025-03-27) was
6.3% and
one month ago for the week of 2025-02-27, the
average rate was 6.41%.
Pella's average rate one year ago was 6.64%.
For refis of the same type during the week of 2025-04-03, the average rate
was 6.74%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-04-03 | 6.64% |
| Pella 30 Year Fixed Rate | 2025-04-03 | 6.39% |
| Pella 30 Year Fixed Rate Refi | 2025-04-03 | 6.74% |
| Pella 15 Year Fixed Rate | 2025-04-03 | 5.62% |
| Pella 15 Year Fixed Rate Refi | 2025-04-03 | 5.72% |
| Pella 30 Year FHA | 2025-04-03 | 6.06% |
| Pella 30 Year FHA Refi | 2025-04-03 | 6.16% |
| Pella 30 Year USDA | 2025-04-03 | 6.12% |
| Pella 30 Year USDA Refi | 2025-04-03 | 6.22% |
| Pella 30 Year VA | 2025-04-03 | 5.96% |
| Pella 30 Year VA Refi | 2025-04-03 | 5.86% |
Pella 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 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.).
Pella Average Closing Costs & Other Stats
Pella, IA's 46 lenders originated 690
loans during 2024. The total origination value was $123,910,000, with an average loan value of
$179,580.
Pella's average closing costs are $3,361.
The top Pella lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with
82 loans originated. Their average total fees are
$2,209, which is $53
higher than the next largest lender,
COMMUNITY 1ST CREDIT UNION.
The lowest fee Pella lenders (with over 10 loans originated) are
COMMUNITY 1ST CREDIT UNION ($2,156), GREENSTATE CREDIT UNION ($2,166), IOWA BANKERS MORTGAGE CORPORATION ($2,209), West Gate Bank ($2,678) and U.S. Bank ($3,321).
The lowest rate Pella lenders (with over 10 loans originated) are
West Gate Bank (6.23%), IOWA BANKERS MORTGAGE CORPORATION (6.33%), Wells Fargo Bank (6.51%), GREENSTATE CREDIT UNION (6.60%) and U.S. Bank (6.69%).
Pella, 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 |
|---|---|---|---|---|
| IOWA BANKERS MORTGAGE CORPORATION | $14,965,000 | $22,590,000 | 51.0% | 18.2% |
| COMMUNITY 1ST CREDIT UNION | $8,825,000 | $8,820,000 | -0.1% | 7.1% |
| Washington State Bank | $4,010,000 | $7,365,000 | 83.7% | 5.9% |
| GREENSTATE CREDIT UNION | $3,295,000 | $5,555,000 | 68.6% | 4.5% |
| U.S. Bank | $2,735,000 | $4,845,000 | 77.1% | 3.9% |
| QUICKEN LOANS, LLC | $3,400,000 | $4,600,000 | 35.3% | 3.7% |
| Leighton State Bank | $8,615,000 | $3,865,000 | -55.1% | 3.1% |
| BROKER SOLUTIONS, INC. | $2,780,000 | $3,675,000 | 32.2% | 3.0% |
| Community Choice Credit Union | $580,000 | $3,565,000 | 514.7% | 2.9% |
| Fortress Bank | $430,000 | $3,565,000 | 729.1% | 2.9% |
| Wells Fargo Bank | $5,665,000 | $3,175,000 | -44.0% | 2.6% |
| Bank Iowa | $5,595,000 | $2,850,000 | -49.1% | 2.3% |
| Mortgage Research Center, LLC | $950,000 | $2,840,000 | 198.9% | 2.3% |
| West Gate Bank | $2,690,000 | n/a | 2.2% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,840,000 | $2,335,000 | -39.2% | 1.9% |
| VERIDIAN CREDIT UNION | $3,040,000 | $2,270,000 | -25.3% | 1.8% |
| Northwest Bank | $840,000 | $2,060,000 | 145.2% | 1.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,845,000 | $1,965,000 | 6.5% | 1.6% |
| Sierra Pacific Mortgage Company, Inc. | $1,930,000 | n/a | 1.6% | |
| Luana Savings Bank | $730,000 | $1,850,000 | 153.4% | 1.5% |
| GERSHMAN INVESTMENT CORP. | $1,815,000 | n/a | 1.5% | |
| Barrington Bank & Trust Company, N.A. | $540,000 | $1,760,000 | 225.9% | 1.4% |
| MidWestOne Bank | $2,055,000 | $1,705,000 | -17.0% | 1.4% |
| LAND HOME FINANCIAL SERVICES, INC. | $275,000 | $1,605,000 | 483.6% | 1.3% |
| JPMorgan Chase Bank | $1,020,000 | $1,175,000 | 15.2% | 0.9% |
| Peoples Savings Bank | $3,155,000 | $1,040,000 | -67.0% | 0.8% |
| Bankers Trust Company | $935,000 | n/a | 0.8% | |
| PENNYMAC LOAN SERVICES, LLC | $1,505,000 | $910,000 | -39.5% | 0.7% |
| CARDINAL FINANCIAL | $815,000 | $905,000 | 11.0% | 0.7% |
| GUILD MORTGAGE COMPANY | $450,000 | $905,000 | 101.1% | 0.7% |
| Truist | $265,000 | $900,000 | 239.6% | 0.7% |
| HOMESERVICES LENDING, LLC | $2,645,000 | $855,000 | -67.7% | 0.7% |
| GREATER IOWA CREDIT UNION | $200,000 | $800,000 | 300.0% | 0.6% |
| Great Southern Bank | $865,000 | $790,000 | -8.7% | 0.6% |
| FRONTIER FINANCIAL, INC. | $175,000 | $710,000 | 305.7% | 0.6% |
| GUARANTEED RATE, INC. | $435,000 | $685,000 | 57.5% | 0.6% |
| HOMESIDE FINANCIAL, LLC | $390,000 | $685,000 | 75.6% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $685,000 | $670,000 | -2.2% | 0.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $835,000 | $660,000 | -21.0% | 0.5% |
| HomeTown Bank | $575,000 | n/a | 0.5% | |
| NEW DAY FINANCIAL, LLC | $550,000 | n/a | 0.4% | |
| LAKEVIEW LOAN SERVICING, LLC | $520,000 | n/a | 0.4% | |
| Deere Employees Credit Union | $510,000 | n/a | 0.4% | |
| LOANDEPOT.COM, LLC | $360,000 | $475,000 | 31.9% | 0.4% |
| STOCKTON MORTGAGE CORPORATION | $475,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $65,000 | $395,000 | 507.7% | 0.3% |
| Farm Credit Mid-America, ACA | $1,660,000 | $390,000 | -76.5% | 0.3% |
| Financial Funding Solutions, Inc. | $365,000 | n/a | 0.3% | |
| Bank of America | $105,000 | $355,000 | 238.1% | 0.3% |
| MORTGAGE ACCESS CORP. | $345,000 | n/a | 0.3% | |
| PREMIA MORTGAGE, LLC | $680,000 | $295,000 | -56.6% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $610,000 | $290,000 | -52.5% | 0.2% |
| Central Bank | $15,000 | $280,000 | 1,766.7% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $280,000 | n/a | 0.2% | |
| Farmers State Bank | $265,000 | n/a | 0.2% | |
| Plains Commerce Bank | $125,000 | $235,000 | 88.0% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $155,000 | $235,000 | 51.6% | 0.2% |
| GSF Mortgage Corporation | $225,000 | n/a | 0.2% | |
| CITIZENS EQUITY FIRST | $215,000 | n/a | 0.2% | |
| 21ST MORTGAGE CORPORATION | $75,000 | $210,000 | 180.0% | 0.2% |
| City State Bank | $205,000 | n/a | 0.2% | |
| Midwest Heritage Bank FSB | $520,000 | $205,000 | -60.6% | 0.2% |
| NEWREZ LLC | $460,000 | $200,000 | -56.5% | 0.2% |
| Premier Credit Union | $425,000 | $200,000 | -52.9% | 0.2% |
| Encompass Lending Group, LP | $195,000 | n/a | 0.2% | |
| Lincoln Savings Bank | $1,830,000 | $195,000 | -89.3% | 0.2% |
| USAA Federal Savings Bank | $825,000 | $185,000 | -77.6% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $175,000 | n/a | 0.1% | |
| COMPASS MORTGAGE, INC. | $525,000 | $165,000 | -68.6% | 0.1% |
| Summit Mortgage Corporation | $225,000 | $145,000 | -35.6% | 0.1% |
| AMERICAN FINANCING CORPORATION | $135,000 | n/a | 0.1% | |
| AmeriHome Mortgage Company, LLC | $125,000 | $135,000 | 8.0% | 0.1% |
| GARDNER FINANCIAL SERVICES, LTD. | $135,000 | n/a | 0.1% | |
| MARINE | $445,000 | $130,000 | -70.8% | 0.1% |
| Arvest Bank | $575,000 | $125,000 | -78.3% | 0.1% |
| Figure Lending LLC | $115,000 | n/a | 0.1% | |
| Coastal Community Bank | $90,000 | n/a | 0.1% | |
| Collins Community Credit Union | $650,000 | $90,000 | -86.2% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $65,000 | $90,000 | 38.5% | 0.1% |
| BMO Harris Bank | $85,000 | n/a | 0.1% | |
| The Central Trust Bank | $1,115,000 | $75,000 | -93.3% | 0.1% |
| FINANCIAL PLUS Credit Union | $25,000 | $65,000 | 160.0% | 0.1% |
| First Class Community Credit Union | $65,000 | n/a | 0.1% | |
| Serve Credit Union | $35,000 | $65,000 | 85.7% | 0.1% |
| First Interstate Bank | $105,000 | $55,000 | -47.6% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $650,000 | $55,000 | -91.5% | 0.0% |
| American State Bank | $45,000 | n/a | 0.0% | |
| Tradesmen Community Credit Union | $185,000 | $45,000 | -75.7% | 0.0% |
| The Loan Store, Inc. | $35,000 | n/a | 0.0% | |
| FEDEX EMPLOYEES CREDIT ASSOCIATION | $15,000 | n/a | 0.0% |
Pella's top lender by overall market share is IOWA BANKERS MORTGAGE CORPORATION, with 18.2% market share. In second place, with 7.1%, is COMMUNITY 1ST CREDIT UNION, having originated $8,820,000 in loans. In third place, with 5.9%, is Washington State Bank, having originated $7,365,000 in loans. In fourth place, with 4.5%, is GREENSTATE CREDIT UNION, having originated $5,555,000 in loans. In fifth place, with 3.9%, is U.S. Bank, having originated $4,845,000 in loans.
Pella, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 414 | $89,180,000 | $215,411 |
| Refi | 133 | $17,075,000 | $128,383 |
| Cash Out Refi | 62 | $11,230,000 | $181,129 |
| Other | 42 | $3,710,000 | $88,333 |
| Home Improvement | 39 | $2,715,000 | $69,615 |
Pella's most frequently cited loan purpose was Home Purchase, with 414 originations. The 2nd most popular reason was Refi, with 133 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 278 | $60,760,000 | $218,561 |
| 7-8% | 115 | $19,655,000 | $170,913 |
| 5-6% | 84 | $19,790,000 | $235,595 |
| <2.5% | 81 | $4,795,000 | $59,198 |
| Over 8% | 61 | $4,775,000 | $78,279 |
| 4-5% | 3 | $505,000 | $168,333 |
During 2024, Pella's most frequently originated rate bucket was 6-7%, with 278 originations.
Loan Sizing (Pella, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 226 | $33,660,000 | $148,938 |
| $200k-400k | 223 | $60,795,000 | $272,623 |
| $100,000 or less | 203 | $10,105,000 | $49,778 |
| $400k-600k | 31 | $14,395,000 | $464,355 |
| $600k-1000k | 7 | $4,955,000 | $707,857 |
Pella's loan sizing saw the bucket of loans from $100k-200k with 226 originations, totaling $33,660,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 248 | $58,400,000 | $235,484 |
| 60-80% | 122 | $27,400,000 | $224,590 |
| Under 20% | 103 | $4,615,000 | $44,806 |
| 20-40% | 85 | $7,855,000 | $92,412 |
| 40-60% | 58 | $9,880,000 | $170,345 |
| Over 100% | 3 | $975,000 | $325,000 |
Pella's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 248 originations, totaling $58,400,000 in origination value.