Storm Lake Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Storm Lake averaged 6.4% for the week of 2025-04-10, compared to the national average of 6.62% for the same period.

    The average rate for the prior week (2025-04-03) was 6.22% and one month ago for the week of 2025-03-06, the average rate was 6.51%.

    Storm Lake's average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-04-10, the average rate was 6.82%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-10 6.62%
    Storm Lake 30 Year Fixed Rate 2025-04-10 6.4%
    Storm Lake 30 Year Fixed Rate Refi 2025-04-10 6.82%
    Storm Lake 15 Year Fixed Rate 2025-04-10 6.02%
    Storm Lake 15 Year Fixed Rate Refi 2025-04-10 5.92%
    Storm Lake 30 Year FHA 2025-04-10 6.23%
    Storm Lake 30 Year FHA Refi 2025-04-10 6.33%
    Storm Lake 30 Year USDA 2025-04-10 6.65%
    Storm Lake 30 Year USDA Refi 2025-04-10 6.35%
    Storm Lake 30 Year VA 2025-04-10 6.09%
    Storm Lake 30 Year VA Refi 2025-04-10 6.09%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Storm Lake, IA.

    Storm 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 Storm 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.).

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Central Bank 66 6.29% $4,001
    United Bank of Iowa 12 7.06% $2,897
    QUICKEN LOANS, LLC 4 7.19% $5,837
    Northwest Bank 4 6.97% $3,000
    Farm Credit Mid-America, ACA 3 7.58% $6,221
    U.S. Bank 2 7.00% $2,142
    BROKER SOLUTIONS, INC. 2 7.00% $4,518
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.63% $3,424
    IOWA BANKERS MORTGAGE CORPORATION 1 6.25% $2,439
    LAND HOME FINANCIAL SERVICES, INC. 1 6.88% $3,295
    Lincoln Savings Bank 1 6.25% $2,537
    PHH Mortgage Corporation 1 7.38% $4,165
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $5,049
    AMERISAVE MORTGAGE CORPORATION 1 6.88% $8,441
    V.I.P. MORTGAGE, INC. 1 6.99% $3,294
    Bankers' Bank 1 6.50% $2,338
    Bank Iowa 1 6.88% $3,089
    Bell Bank 1 6.99% $2,638
    Flanagan State Bank 1 7.13% $7,977
    GREENSTATE CREDIT UNION 1 6.63% $2,701
    GUILD MORTGAGE COMPANY 1 6.50% $2,893

    Storm Lake Average Closing Costs & Other Stats

    Storm Lake, IA's 21 lenders originated 248 loans during 2024. The total origination value was $54,210,000, with an average loan value of $218,589.

    Storm Lake's average closing costs are $3,934.

    The top Storm Lake lender as defined by loan originations is Central Bank, with 66 loans originated. Their average total fees are $4,001, which is $1,104 higher than the next largest lender, United Bank of Iowa.

    The lowest fee Storm Lake lenders (with over 10 loans originated) are United Bank of Iowa ($2,897), Central Bank ($4,001), .

    The lowest rate Storm Lake lenders (with over 10 loans originated) are Central Bank (6.29%), United Bank of Iowa (7.06%), .

    Storm 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
    Central Bank $13,095,000 $19,970,000 52.5% 36.8%
    Community State Bank $9,035,000 n/a 16.7%
    United Bank of Iowa $6,520,000 $3,025,000 -53.6% 5.6%
    American State Bank $215,000 $2,485,000 1,055.8% 4.6%
    Lincoln Savings Bank $1,985,000 n/a 3.7%
    Northwest Bank $2,370,000 $1,625,000 -31.4% 3.0%
    BROKER SOLUTIONS, INC. $180,000 $1,220,000 577.8% 2.3%
    Flanagan State Bank $1,340,000 $1,105,000 -17.5% 2.0%
    QUICKEN LOANS, LLC $2,065,000 $960,000 -53.5% 1.8%
    Farm Credit Mid-America, ACA $620,000 n/a 1.1%
    U.S. Bank $145,000 $575,000 296.6% 1.1%
    Mortgage Research Center, LLC $325,000 $565,000 73.8% 1.0%
    UNITED WHOLESALE MORTGAGE, LLC $275,000 $510,000 85.5% 0.9%
    Bank Iowa $145,000 $410,000 182.8% 0.8%
    V.I.P. MORTGAGE, INC. $125,000 $390,000 212.0% 0.7%
    CHARTER WEST BANK $195,000 $370,000 89.7% 0.7%
    AmeriHome Mortgage Company, LLC $365,000 n/a 0.7%
    Bankers' Bank $330,000 $360,000 9.1% 0.7%
    IOWA BANKERS MORTGAGE CORPORATION $205,000 $360,000 75.6% 0.7%
    AMERISAVE MORTGAGE CORPORATION $240,000 $330,000 37.5% 0.6%
    GUARANTEED RATE, INC. $330,000 n/a 0.6%
    Barrington Bank & Trust Company, N.A. $245,000 $325,000 32.7% 0.6%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $300,000 $305,000 1.7% 0.6%
    Primebank $305,000 n/a 0.6%
    DIGITAL Federal Credit Union $280,000 n/a 0.5%
    LAND HOME FINANCIAL SERVICES, INC. $280,000 n/a 0.5%
    NAVY FEDERAL CREDIT UNION $345,000 $280,000 -18.8% 0.5%
    Great Southern Bank $275,000 n/a 0.5%
    NBKC BANK $275,000 n/a 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $195,000 $265,000 35.9% 0.5%
    Paramount Residential Mortgage Group, Inc. $255,000 n/a 0.5%
    GUILD MORTGAGE COMPANY $65,000 $215,000 230.8% 0.4%
    RESIDENTIAL BANCORP $215,000 n/a 0.4%
    SUCCESS MORTGAGE PARTNERS, INC. $165,000 n/a 0.3%
    GREENSTATE CREDIT UNION $475,000 $160,000 -66.3% 0.3%
    Bell Bank $155,000 n/a 0.3%
    PHH Mortgage Corporation $125,000 n/a 0.2%
    BankFirst $115,000 n/a 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $905,000 $115,000 -87.3% 0.2%
    FIRST $65,000 n/a 0.1%
    MEMBERS1st Community Credit Union $65,000 n/a 0.1%
    Coastal Community Bank $80,000 $45,000 -43.8% 0.1%

    Storm Lake's top lender by overall market share is Central Bank, with 36.8% market share. In second place, with 16.7%, is Community State Bank, having originated $9,035,000 in loans. In third place, with 5.6%, is United Bank of Iowa, having originated $3,025,000 in loans. In fourth place, with 4.6%, is American State Bank, having originated $2,485,000 in loans. In fifth place, with 3.7%, is Lincoln Savings Bank, having originated $1,985,000 in loans.

    Storm Lake Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Storm Lake (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 $153,738 (34.7%) $174,160 (37.2%) 0.00 32
    2018-02-01 $155,000 (47.0%) $173,924 (43.0%) 0.00 32
    2018-03-01 $148,400 (50.1%) $162,428 (23.7%) 0.00 32
    2018-04-01 $133,925 (41.0%) $148,260 (-6.7%) 0.00 31
    2018-05-01 $110,450 (3.7%) $140,968 (3.9%) 0.00 27
    2018-06-01 $122,900 (37.7%) $149,145 (30.5%) 0.00 26
    2018-07-01 $135,325 (20.3%) $165,175 (12.8%) 0.00 28
    2018-08-01 $129,675 (-2.0%) $158,192 (-9.4%) 0.00 29
    2018-09-01 $124,900 (-12.6%) $153,153 (-15.3%) 0.00 30
    2018-10-01 $117,500 (-17.5%) $133,368 (-24.6%) 0.00 42
    2018-11-01 $112,250 (-7.6%) $138,497 (-13.5%) 0.00 42
    2018-12-01 $117,500 (-15.7%) $137,641 (-17.0%) 0.00 37
    2019-01-01 $118,950 (-22.6%) $140,884 (-19.1%) 0.00 34
    2019-02-01 $118,575 (-23.5%) $140,095 (-19.5%) 0.00 35
    2019-03-01 $120,371 (-18.9%) $142,162 (-12.5%) 0.00 32
    2019-04-01 $114,446 (-14.5%) $142,698 (-3.8%) 0.00 32
    2019-05-01 $115,375 (4.5%) $153,213 (8.7%) 0.00 38
    2019-06-01 $109,725 (-10.7%) $149,792 (0.4%) 0.00 37
    2019-07-01 $131,000 (-3.2%) $149,738 (-9.4%) 0.00 33
    2019-08-01 $129,364 (-0.2%) $148,121 (-6.4%) 0.00 30
    2019-09-01 $122,409 (-2.0%) $145,522 (-5.0%) 0.00 29
    2019-10-01 $110,875 (-5.6%) $143,146 (7.3%) 0.00 28
    2019-11-01 $101,000 (-10.0%) $119,267 (-13.9%) 0.00 24
    2019-12-01 $90,000 (-23.4%) $118,321 (-14.0%) 0.00 19
    2020-01-01 $90,000 (-24.3%) $115,101 (-18.3%) 0.00 19
    2020-02-01 $79,700 (-32.8%) $95,669 (-31.7%) 0.00 25
    2020-03-01 $90,000 (-25.2%) $113,238 (-20.4%) 0.00 27
    2020-04-01 $90,000 (-21.4%) $124,666 (-12.6%) 0.00 27
    2020-05-01 $92,500 (-19.8%) $146,371 (-4.5%) 0.00 27
    2020-06-01 $146,250 (33.3%) $165,389 (10.4%) 0.00 27
    2020-07-01 $147,250 (12.4%) $168,154 (12.3%) 0.00 28
    2020-08-01 $173,900 (34.4%) $191,244 (29.1%) 0.00 30
    2020-09-01 $175,000 (43.0%) $198,728 (36.6%) 0.00 27
    2020-10-01 $162,500 (46.6%) $187,103 (30.7%) 0.00 28
    2020-11-01 $166,975 (65.3%) $179,197 (50.3%) 0.00 26
    2020-12-01 $167,225 (85.8%) $189,075 (59.8%) 0.00 22
    2021-01-01 $174,950 (94.4%) $193,022 (67.7%) 0.00 19
    2021-02-01 $187,000 (134.6%) $200,506 (109.6%) 0.00 17
    2021-03-01 $193,625 (115.1%) $201,370 (77.8%) 0.00 16
    2021-04-01 $246,000 (173.3%) $235,097 (88.6%) 0.00 16
    2021-05-01 $240,000 (159.5%) $226,720 (54.9%) 0.00 12
    2021-06-01 $168,500 (15.2%) $174,675 (5.6%) 0.00 12
    2021-07-01 $124,900 (-15.2%) $120,189 (-28.5%) 0.00 9
    2021-08-01 $111,250 (-36.0%) $136,138 (-28.8%) 0.00 13
    2021-09-01 $162,250 (-7.3%) $173,385 (-12.8%) 0.00 15
    2021-10-01 $150,000 (-7.7%) $194,013 (3.7%) 0.00 21
    2021-11-01 $148,725 (-10.9%) $196,323 (9.6%) 0.00 23
    2021-12-01 $155,000 (-7.3%) $194,688 (3.0%) 0.00 21
    2022-01-01 $169,900 (-2.9%) $226,876 (17.5%) 0.00 17
    2022-02-01 $189,750 (1.5%) $241,412 (20.4%) 0.00 15
    2022-03-01 $186,750 (-3.6%) $223,173 (10.8%) 0.00 17
    2022-04-01 $215,000 (-12.6%) $227,021 (-3.4%) 0.00 15
    2022-05-01 $211,425 (-11.9%) $232,146 (2.4%) 0.00 14
    2022-06-01 $212,450 (26.1%) $206,424 (18.2%) 0.00 18
    2022-07-01 $236,000 (89.0%) $262,492 (118.4%) 0.00 21
    2022-08-01 $225,750 (102.9%) $247,620 (81.9%) 0.00 25
    2022-09-01 $234,750 (44.7%) $241,716 (39.4%) 0.00 23
    2022-10-01 $247,000 (64.7%) $245,271 (26.4%) 0.00 26
    2022-11-01 $228,000 (53.3%) $239,053 (21.8%) 0.00 28
    2022-12-01 $228,000 (47.1%) $233,309 (19.8%) 0.00 30
    2023-01-01 $228,000 (34.2%) $236,075 (4.1%) 0.00 28
    2023-02-01 $226,000 (19.1%) $235,588 (-2.4%) 0.00 30
    2023-03-01 $223,500 (19.7%) $232,152 (4.0%) 0.00 29
    2023-04-01 $228,000 (6.1%) $238,148 (4.9%) 0.00 27
    2023-05-01 $260,250 (23.1%) $288,685 (24.4%) 0.00 25
    2023-06-01 $280,750 (32.2%) $301,076 (45.9%) 0.00 29
    2023-07-01 $271,000 (14.8%) $256,316 (-2.4%) 0.00 28
    2023-08-01 $271,000 (20.0%) $252,166 (1.8%) 0.00 32
    2023-09-01 $267,000 (13.7%) $253,506 (4.9%) 0.00 33
    2023-10-01 $249,375 (1.0%) $242,836 (-1.0%) 0.00 30
    2023-11-01 $234,500 (2.9%) $240,365 (0.6%) 0.00 32
    2023-12-01 $228,000 (0.0%) $228,680 (-2.0%) 0.00 27
    2024-01-01 $235,250 (3.2%) $231,327 (-2.0%) 0.00 25
    2024-02-01 $235,250 (4.1%) $229,794 (-2.5%) 0.00 25
    2024-03-01 $235,000 (5.2%) $245,262 (5.7%) 0.00 30
    2024-04-01 $226,475 (-0.7%) $246,398 (3.5%) 0.00 33
    2024-05-01 $236,000 (-9.3%) $253,883 (-12.1%) 0.00 40
    2024-06-01 $249,500 (-11.1%) $261,376 (-13.2%) 0.00 40
    2024-07-01 $234,500 (-13.5%) $243,329 (-5.1%) 0.00 37
    2024-08-01 $214,000 (-21.0%) $254,323 (0.9%) 0.00 44
    2024-09-01 $211,500 (-20.8%) $272,189 (7.4%) 0.00 38
    2024-10-01 $234,500 (-6.0%) $293,604 (20.9%) 0.00 37
    2024-11-01 $247,000 (5.3%) $291,250 (21.2%) 0.00 36
    2024-12-01 $240,750 (5.6%) $275,674 (20.6%) 0.00 36
    2025-01-01 $235,500 (0.1%) $254,125 (9.9%) 0.00 27
    2025-02-01 $235,000 (-0.1%) $242,902 (5.7%) 0.00 27
    2025-03-01 $230,500 (-1.9%) $257,870 (5.1%) 0.00 26
    Storm Lake's median listing price for 2025-03-01 was $230,500, a difference of $-4,500 (-1.9%) versus the prior year and $-4,500 versus the prior month.

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

    Storm Lake's average listing price for 2025-03-01 was $257,870, a difference of $12,608 (5.1%) versus the prior year and $14,968 versus the prior month.

    For the 2025-03-01 period, Storm Lake had 26 MLS listings, a difference of -1 listings (-4%) versus the prior month and -4 listings (-13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Storm Lake (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,699 sqft
    2018-02-01 0 days 1,644 sqft
    2018-03-01 0 days 1,587 sqft
    2018-04-01 0 days 1,655 sqft
    2018-05-01 0 days 1,722 sqft
    2018-06-01 0 days 1,715 sqft
    2018-07-01 0 days 1,859 sqft
    2018-08-01 0 days 1,771 sqft
    2018-09-01 0 days 1,776 sqft
    2018-10-01 0 days 1,541 sqft
    2018-11-01 0 days 1,573 sqft
    2018-12-01 0 days 1,476 sqft
    2019-01-01 0 days 1,478 sqft
    2019-02-01 0 days 1,573 sqft
    2019-03-01 0 days 1,670 sqft
    2019-04-01 0 days 1,639 sqft
    2019-05-01 0 days 1,503 sqft
    2019-06-01 0 days 1,512 sqft
    2019-07-01 0 days 1,644 sqft
    2019-08-01 0 days 1,657 sqft
    2019-09-01 0 days 1,671 sqft
    2019-10-01 0 days 1,680 sqft
    2019-11-01 0 days 1,497 sqft
    2019-12-01 0 days 1,435 sqft
    2020-01-01 0 days 1,644 sqft
    2020-02-01 0 days 1,299 sqft
    2020-03-01 0 days 1,431 sqft
    2020-04-01 0 days 1,365 sqft
    2020-05-01 0 days 1,572 sqft
    2020-06-01 0 days 1,882 sqft
    2020-07-01 0 days 1,933 sqft
    2020-08-01 0 days 2,143 sqft
    2020-09-01 0 days 2,152 sqft
    2020-10-01 0 days 2,122 sqft
    2020-11-01 0 days 2,087 sqft
    2020-12-01 0 days 2,026 sqft
    2021-01-01 0 days 2,006 sqft
    2021-02-01 0 days 1,985 sqft
    2021-03-01 0 days 2,085 sqft
    2021-04-01 0 days 2,091 sqft
    2021-05-01 0 days 2,100 sqft
    2021-06-01 0 days 2,041 sqft
    2021-07-01 0 days 1,573 sqft
    2021-08-01 0 days 1,611 sqft
    2021-09-01 0 days 1,818 sqft
    2021-10-01 0 days 1,600 sqft
    2021-11-01 0 days 1,588 sqft
    2021-12-01 0 days 1,618 sqft
    2022-01-01 0 days 1,593 sqft
    2022-02-01 0 days 1,640 sqft
    2022-03-01 0 days 1,697 sqft
    2022-04-01 0 days 1,356 sqft
    2022-05-01 0 days 1,374 sqft
    2022-06-01 0 days 1,299 sqft
    2022-07-01 0 days 1,299 sqft
    2022-08-01 0 days 1,387 sqft
    2022-09-01 0 days 1,696 sqft
    2022-10-01 0 days 1,765 sqft
    2022-11-01 0 days 1,781 sqft
    2022-12-01 0 days 1,757 sqft
    2023-01-01 0 days 1,780 sqft
    2023-02-01 0 days 1,588 sqft
    2023-03-01 0 days 1,587 sqft
    2023-04-01 0 days 1,786 sqft
    2023-05-01 0 days 1,837 sqft
    2023-06-01 0 days 1,864 sqft
    2023-07-01 0 days 1,907 sqft
    2023-08-01 0 days 1,982 sqft
    2023-09-01 0 days 1,860 sqft
    2023-10-01 0 days 2,069 sqft
    2023-11-01 0 days 2,032 sqft
    2023-12-01 0 days 1,824 sqft
    2024-01-01 0 days 1,700 sqft
    2024-02-01 0 days 1,602 sqft
    2024-03-01 0 days 1,636 sqft
    2024-04-01 0 days 1,568 sqft
    2024-05-01 0 days 1,661 sqft
    2024-06-01 0 days 1,784 sqft
    2024-07-01 0 days 1,672 sqft
    2024-08-01 0 days 1,581 sqft
    2024-09-01 0 days 1,600 sqft
    2024-10-01 0 days 1,691 sqft
    2024-11-01 0 days 1,656 sqft
    2024-12-01 0 days 1,613 sqft
    2025-01-01 0 days 1,514 sqft
    2025-02-01 0 days 1,593 sqft
    2025-03-01 0 days 1,731 sqft
    Storm Lake's median listing age (time on market) for 2025-03-01 was 0 days.

    Storm Lake's median square footage for active listings during the 2025-03-01 period was 1,731 sqft. One year prior, the average listing was 1,636 sqft.

    Storm Lake, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 166 $42,440,000 $255,663
    Home Improvement 21 $1,235,000 $58,810
    Cash Out Refi 21 $4,915,000 $234,048
    Other 20 $1,050,000 $52,500
    Refi 20 $4,570,000 $228,500

    Storm Lake's most frequently cited loan purpose was Home Purchase, with 166 originations. The 2nd most popular reason was Home Improvement, with 21 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 97 $17,685,000 $182,320
    7-8% 53 $8,025,000 $151,415
    Over 8% 45 $4,855,000 $107,889
    5-6% 36 $7,750,000 $215,278
    <2.5% 6 $40,000 $6,667
    4-5% 3 $585,000 $195,000

    During 2024, Storm Lake's most frequently originated rate bucket was 6-7%, with 97 originations.

    Loan Sizing (Storm Lake, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 105 $15,165,000 $144,429
    $100,000 or less 78 $3,970,000 $50,897
    $200k-400k 54 $14,090,000 $260,926
    $Over $1MM 5 $17,615,000 $3,523,000
    $400k-600k 4 $1,960,000 $490,000
    $600k-1000k 2 $1,410,000 $705,000

    Storm Lake's loan sizing saw the bucket of loans from $100k-200k with 105 originations, totaling $15,165,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 118 $24,770,000 $209,915
    60-80% 42 $6,200,000 $147,619
    20-40% 33 $3,735,000 $113,182
    Under 20% 26 $1,250,000 $48,077
    40-60% 20 $2,770,000 $138,500
    Over 100% 1 $215,000 $215,000

    Storm Lake's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 118 originations, totaling $24,770,000 in origination value.