Spirit Lake Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Spirit Lake averaged
7.06%
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
7.09% and
one month ago for the week of 2025-05-15, the
average rate was 6.66%.
Spirit Lake's average rate one year ago was 7%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.41%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Spirit Lake 30 Year Fixed Rate | 2025-06-18 | 7.06% |
| Spirit Lake 30 Year Fixed Rate Refi | 2025-06-18 | 7.41% |
| Spirit Lake 15 Year Fixed Rate | 2025-06-18 | 5.86% |
| Spirit Lake 15 Year Fixed Rate Refi | 2025-06-18 | 5.86% |
| Spirit Lake 30 Year FHA | 2025-06-18 | -0.2% |
| Spirit Lake 30 Year FHA Refi | 2025-06-18 | 0.1% |
| Spirit Lake 30 Year USDA | 2025-06-18 | -0.1% |
| Spirit Lake 30 Year USDA Refi | 2025-06-18 | 0% |
| Spirit Lake 30 Year VA | 2025-06-18 | -0.2% |
| Spirit Lake 30 Year VA Refi | 2025-06-18 | 0% |
Spirit Lake 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 Spirit Lake, 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.).
Spirit Lake Average Closing Costs & Other Stats
Spirit Lake, IA's 50 lenders originated 570
loans during 2024. The total origination value was $196,890,000, with an average loan value of
$345,421.
Spirit Lake's average closing costs are $3,554.
The top Spirit Lake lender as defined by loan originations is Northwest Bank, with
74 loans originated. Their average total fees are
$4,286, which is $1,853
lower than the next largest lender,
Central Bank.
The lowest fee Spirit Lake lenders (with over 10 loans originated) are
IOWA BANKERS MORTGAGE CORPORATION ($3,467), Northwest Bank ($4,286), Central Bank ($6,139), .
The lowest rate Spirit Lake lenders (with over 10 loans originated) are
IOWA BANKERS MORTGAGE CORPORATION (6.42%), Central Bank (6.64%), Northwest Bank (6.77%), .
Spirit Lake, 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 |
|---|---|---|---|---|
| Northwest Bank | $44,240,000 | $49,110,000 | 11.0% | 24.9% |
| Central Bank | $24,400,000 | $32,170,000 | 31.8% | 16.3% |
| First Dakota National Bank | $3,235,000 | $11,820,000 | 265.4% | 6.0% |
| COLLIERS MORTGAGE LLC | $9,730,000 | n/a | 4.9% | |
| American State Bank | $1,315,000 | $9,235,000 | 602.3% | 4.7% |
| Bankers Trust Company | $4,185,000 | $5,915,000 | 41.3% | 3.0% |
| Bank Midwest | $7,175,000 | $4,670,000 | -34.9% | 2.4% |
| U.S. Bank | $1,340,000 | $3,665,000 | 173.5% | 1.9% |
| GREENSTATE CREDIT UNION | $805,000 | $3,190,000 | 296.3% | 1.6% |
| IOWA BANKERS MORTGAGE CORPORATION | $3,425,000 | $3,070,000 | -10.4% | 1.6% |
| American Bank & Trust | $1,635,000 | $2,975,000 | 82.0% | 1.5% |
| Plains Commerce Bank | $4,765,000 | $2,905,000 | -39.0% | 1.5% |
| Peoples Bank | $1,500,000 | $2,655,000 | 77.0% | 1.3% |
| Security National Bank of South Dakota | $2,585,000 | n/a | 1.3% | |
| QUICKEN LOANS, LLC | $1,370,000 | $2,410,000 | 75.9% | 1.2% |
| Primebank | $2,385,000 | $2,175,000 | -8.8% | 1.1% |
| Wells Fargo Bank | $880,000 | $2,080,000 | 136.4% | 1.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $255,000 | $2,010,000 | 688.2% | 1.0% |
| MEMBERS1st Community Credit Union | $1,485,000 | $2,005,000 | 35.0% | 1.0% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $560,000 | $1,685,000 | 200.9% | 0.9% |
| Deere Employees Credit Union | $465,000 | $1,440,000 | 209.7% | 0.7% |
| The Security National Bank of Sioux City, Iowa | $3,715,000 | $1,435,000 | -61.4% | 0.7% |
| City State Bank | $3,885,000 | $1,305,000 | -66.4% | 0.7% |
| LOANDEPOT.COM, LLC | $420,000 | $1,295,000 | 208.3% | 0.7% |
| SIOUXLAND FEDERAL CREDIT UNION | $65,000 | $1,285,000 | 1,876.9% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $265,000 | $1,250,000 | 371.7% | 0.6% |
| Mortgage Research Center, LLC | $1,415,000 | $1,235,000 | -12.7% | 0.6% |
| V.I.P. MORTGAGE, INC. | $2,635,000 | $1,200,000 | -54.5% | 0.6% |
| Farm Credit Mid-America, ACA | $205,000 | $1,185,000 | 478.0% | 0.6% |
| Luana Savings Bank | $115,000 | $1,060,000 | 821.7% | 0.5% |
| AmeriHome Mortgage Company, LLC | $470,000 | $1,020,000 | 117.0% | 0.5% |
| Availa Bank | $1,115,000 | $1,020,000 | -8.5% | 0.5% |
| United Bank of Iowa | $490,000 | $985,000 | 101.0% | 0.5% |
| PENNYMAC LOAN SERVICES, LLC | $910,000 | n/a | 0.5% | |
| JPMorgan Chase Bank | $2,010,000 | $880,000 | -56.2% | 0.4% |
| Frandsen Bank & Trust | $850,000 | n/a | 0.4% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $765,000 | n/a | 0.4% | |
| Goldman Sachs Bank USA | $755,000 | $725,000 | -4.0% | 0.4% |
| Flanagan State Bank | $960,000 | $695,000 | -27.6% | 0.4% |
| Farmers & Merchants Savings Bank | $665,000 | n/a | 0.3% | |
| VERIDIAN CREDIT UNION | $440,000 | $615,000 | 39.8% | 0.3% |
| ALLIANT | $610,000 | n/a | 0.3% | |
| NBKC BANK | $585,000 | n/a | 0.3% | |
| CORNHUSKER BANK | $175,000 | $580,000 | 231.4% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $125,000 | $580,000 | 364.0% | 0.3% |
| Johnson Bank | $575,000 | n/a | 0.3% | |
| First Bank & Trust | $1,755,000 | $560,000 | -68.1% | 0.3% |
| Midstates Bank | $540,000 | n/a | 0.3% | |
| Barrington Bank & Trust Company, N.A. | $365,000 | $525,000 | 43.8% | 0.3% |
| First International Bank & Trust | $365,000 | $505,000 | 38.4% | 0.3% |
| Midwest Heritage Bank FSB | $2,175,000 | $500,000 | -77.0% | 0.3% |
| GEORGIA'S OWN | $465,000 | n/a | 0.2% | |
| First National Bank of Omaha | $455,000 | n/a | 0.2% | |
| CARDINAL FINANCIAL | $445,000 | n/a | 0.2% | |
| Gateway First Bank | $445,000 | n/a | 0.2% | |
| Quontic Bank | $435,000 | n/a | 0.2% | |
| SUN WEST MORTGAGE COMPANY, INC. | $345,000 | $415,000 | 20.3% | 0.2% |
| First PREMIER Bank | $375,000 | $390,000 | 4.0% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $335,000 | n/a | 0.2% | |
| Bankers' Bank | $320,000 | n/a | 0.2% | |
| Core Bank | $155,000 | $315,000 | 103.2% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $315,000 | n/a | 0.2% | |
| Armed Forces Bank | $305,000 | n/a | 0.2% | |
| Great Southern Bank | $300,000 | n/a | 0.2% | |
| FIRST COMMUNITY MORTGAGE, INC. | $295,000 | n/a | 0.1% | |
| Houghton State Bank | $325,000 | $295,000 | -9.2% | 0.1% |
| NEW DAY FINANCIAL, LLC | $295,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $285,000 | n/a | 0.1% | |
| Charles Schwab Bank, SSB | $265,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $265,000 | n/a | 0.1% | |
| SIOUX FALLS | $265,000 | n/a | 0.1% | |
| VisionBank of Iowa | $235,000 | n/a | 0.1% | |
| Community Choice Credit Union | $470,000 | $230,000 | -51.1% | 0.1% |
| Pinnacle Bank | $215,000 | n/a | 0.1% | |
| PLAZA HOME MORTGAGE, INC. | $245,000 | $215,000 | -12.2% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $205,000 | n/a | 0.1% | |
| HOMESIDE FINANCIAL, LLC | $195,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $870,000 | $195,000 | -77.6% | 0.1% |
| PLANET HOME LENDING, LLC | $195,000 | n/a | 0.1% | |
| FIRST | $100,000 | $185,000 | 85.0% | 0.1% |
| Flagstar Bank, FSB | $380,000 | $170,000 | -55.3% | 0.1% |
| Premier Bank | $265,000 | $165,000 | -37.7% | 0.1% |
| TOWNE MORTGAGE COMPANY | $665,000 | $165,000 | -75.2% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $155,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $150,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $105,000 | n/a | 0.1% | |
| Security Savings Bank | $105,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $95,000 | n/a | 0.0% | |
| Equity Prime Mortgage LLC | $95,000 | n/a | 0.0% | |
| FIRST COLONY MORTGAGE CORPORATION | $95,000 | n/a | 0.0% | |
| MID AMERICA MORTGAGE, INC. | $95,000 | n/a | 0.0% | |
| PNC Bank | $55,000 | n/a | 0.0% | |
| AMERISAVE MORTGAGE CORPORATION | $45,000 | n/a | 0.0% | |
| Coastal Community Bank | $45,000 | n/a | 0.0% | |
| Mr. Cooper ( Nationstar Mortgage ) | $285,000 | $45,000 | -84.2% | 0.0% |
| Glenwood State Bank | $65,000 | $5,000 | -92.3% | 0.0% |
Spirit Lake's top lender by overall market share is Northwest Bank, with 24.9% market share. In second place, with 16.3%, is Central Bank, having originated $32,170,000 in loans. In third place, with 6.0%, is First Dakota National Bank, having originated $11,820,000 in loans. In fourth place, with 4.9%, is COLLIERS MORTGAGE LLC, having originated $9,730,000 in loans. In fifth place, with 4.7%, is American State Bank, having originated $9,235,000 in loans.
Spirit Lake, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 314 | $130,410,000 | $415,318 |
| Refi | 90 | $30,190,000 | $335,444 |
| Home Improvement | 81 | $8,475,000 | $104,630 |
| Other | 43 | $15,635,000 | $363,605 |
| Cash Out Refi | 42 | $12,180,000 | $290,000 |
Spirit Lake's most frequently cited loan purpose was Home Purchase, with 314 originations. The 2nd most popular reason was Refi, with 90 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 192 | $62,650,000 | $326,302 |
| 5-6% | 108 | $25,290,000 | $234,167 |
| 7-8% | 101 | $49,055,000 | $485,693 |
| Over 8% | 95 | $23,895,000 | $251,526 |
| 4-5% | 3 | $1,065,000 | $355,000 |
| <2.5% | 2 | $20,000 | $10,000 |
| 3-4% | 1 | $3,755,000 | $3,755,000 |
| 2.5-3% | 1 | $115,000 | $115,000 |
During 2024, Spirit Lake's most frequently originated rate bucket was 6-7%, with 192 originations.
Loan Sizing (Spirit Lake, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 183 | $52,375,000 | $286,202 |
| $100,000 or less | 142 | $6,860,000 | $48,310 |
| $100k-200k | 127 | $18,395,000 | $144,843 |
| $400k-600k | 52 | $24,910,000 | $479,038 |
| $600k-1000k | 35 | $25,435,000 | $726,714 |
| $Over $1MM | 31 | $68,915,000 | $2,223,065 |
Spirit Lake's loan sizing saw the bucket of loans from $200k-400k with 183 originations, totaling $52,375,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 60-80% | 124 | $64,630,000 | $521,210 |
| Under 20% | 117 | $7,965,000 | $68,077 |
| 80-100% | 112 | $43,400,000 | $387,500 |
| 20-40% | 72 | $12,100,000 | $168,056 |
| 40-60% | 66 | $25,760,000 | $390,303 |
| Over 100% | 3 | $915,000 | $305,000 |
Spirit Lake's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 124 originations, totaling $64,630,000 in origination value.