Top Mortgage Lenders in the Ottumwa, IA area

Which mortgage lender in the Ottumwa, IA area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Ottumwa, IA area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Ottumwa, IA area is Iowa Bankers Mortgage Corporation, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.18%. This means that Iowa Bankers Mortgage Corporation provided a -0.18% lower interest rate for its customers than other lenders in Ottumwa, IA for a similar set of borrowers. Iowa Bankers Mortgage Corporation has a market share of 23.3%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Ottumwa, IA area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, the cheapest lender for Conventional mortgages in Ottumwa, IA is Iowa Bankers Mortgage Corporation. If you want to take out a loan that is above conforming limits (for example, above $510,400 in 2020), the cheapest Jumbo mortgage provider is Fairway Independent Mort Corp. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Iowa Bankers Mortgage Corporation. The cheapest VA mortgage provider is also Iowa Bankers Mortgage Corporation. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.18% 23.28%
Midwestone Bank 2, -0.11% 5.87%
West Gate Bank 3, -0.07% 6.57%
Bank Iowa 4, -0.01% 3.78%
GreenState Credit Union 5, 0.01% 3.08%
Fairway Independent Mort Corp 6, 0.04% 5.87%
Us Bank 7, 0.04% 8.96%
Quicken Loans 8, 0.08% 10.25%
Community 1st Credit Union 9, 0.11% 20.10%
Wells Fargo Bank 10, 0.14% 12.24%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.15% 22.82%
Midwestone Bank 2, -0.11% 5.91%
West Gate Bank 3, -0.08% 6.73%
GreenState Credit Union 4, -0.02% 2.30%
Us Bank 5, -0.02% 9.36%
Bank Iowa 6, 0.02% 2.96%
Quicken Loans 7, 0.02% 5.42%
Fairway Independent Mort Corp 8, 0.03% 7.06%
Wells Fargo Bank 9, 0.09% 14.78%
Community 1st Credit Union 10, 0.13% 22.66%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.24% 23.99%
Midwestone Bank 2, -0.10% 5.81%
West Gate Bank 3, -0.07% 6.31%
Bank Iowa 4, -0.03% 5.05%
GreenState Credit Union 5, 0.04% 4.29%
Fairway Independent Mort Corp 6, 0.05% 4.04%
Community 1st Credit Union 7, 0.07% 16.16%
Quicken Loans 8, 0.12% 17.68%
Us Bank 9, 0.14% 8.33%
Wells Fargo Bank 10, 0.24% 8.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.19% 24.83%
Midwestone Bank 2, -0.10% 6.54%
West Gate Bank 3, -0.07% 7.32%
Bank Iowa 4, -0.01% 4.21%
GreenState Credit Union 5, 0.01% 3.44%
Fairway Independent Mort Corp 6, 0.05% 3.66%
Us Bank 7, 0.05% 8.65%
Community 1st Credit Union 8, 0.11% 22.39%
Quicken Loans 9, 0.13% 6.32%
Wells Fargo Bank 10, 0.15% 12.64%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.15% 23.99%
Midwestone Bank 2, -0.11% 6.64%
West Gate Bank 3, -0.08% 7.56%
GreenState Credit Union 4, -0.02% 2.58%
Us Bank 5, -0.01% 8.49%
Bank Iowa 6, 0.01% 3.32%
Fairway Independent Mort Corp 7, 0.04% 4.24%
Quicken Loans 8, 0.05% 2.77%
Wells Fargo Bank 9, 0.10% 14.94%
Community 1st Credit Union 10, 0.13% 25.46%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.23% 26.11%
Midwestone Bank 2, -0.10% 6.39%
West Gate Bank 3, -0.06% 6.94%
Bank Iowa 4, -0.03% 5.56%
GreenState Credit Union 5, 0.04% 4.72%
Fairway Independent Mort Corp 6, 0.06% 2.78%
Community 1st Credit Union 7, 0.07% 17.78%
Us Bank 8, 0.15% 8.89%
Quicken Loans 9, 0.18% 11.67%
Wells Fargo Bank 10, 0.25% 9.17%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.07% 8.57%
Us Bank 2, -0.04% 10.00%
Wells Fargo Bank 3, -0.00% 4.29%
Quicken Loans 4, 0.00% 47.14%
Fairway Independent Mort Corp 5, 0.03% 30.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.08% 10.20%
Us Bank 2, -0.04% 14.29%
Wells Fargo Bank 3, 0.00% 6.12%
Quicken Loans 4, 0.00% 32.65%
Fairway Independent Mort Corp 5, 0.03% 36.73%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.03% 4.76%
Quicken Loans 2, -0.00% 80.95%
Fairway Independent Mort Corp 3, 0.02% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Fairway Independent Mort Corp 1, 0.00% 66.67%
Us Bank 2, 0.00% 33.33%
Insufficient data available.
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Fairway Independent Mort Corp 1, 0.00% 66.67%
Us Bank 2, 0.00% 33.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.06% 13.33%
Us Bank 2, -0.03% 13.33%
Wells Fargo Bank 3, -0.01% 20.00%
Fairway Independent Mort Corp 4, -0.01% 10.00%
Quicken Loans 5, 0.03% 43.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.03% 22.22%
Us Bank 2, -0.01% 22.22%
Fairway Independent Mort Corp 3, 0.01% 11.11%
Wells Fargo Bank 4, 0.01% 33.33%
Quicken Loans 5, 0.04% 11.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Fairway Independent Mort Corp 1, -0.04% 8.33%
Quicken Loans 2, 0.00% 91.67%

* Data is compiled for the Ottumwa, IA commuting zone area, which comprises of counties of Appanoose County, IA, Davis County, IA, Keokuk County, IA, Mahaska County, IA, Marion County, IA, Monroe County, IA, and Wapello County, IA. This includes cities/towns/communities of Ottumwa, IA as well as Pella, IA, Swan, IA, Knoxville, IA, Oskaloosa, IA, Centerville, IA, University Park, IA, Leighton, IA, Drakesville, IA, Beacon, IA, Keomah Village, IA, Moravia, IA, Melcher-Dallas, IA, Blakesburg, IA, Kinross, IA, Pulaski, IA, Moravia, IA, Eldon, IA, Marysville, IA, Albia, IA, Lovilia, IA, Chillicothe, IA, Delta, IA, North English, IA, Rathbun, IA, Hedrick, IA, and Numa, IA. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

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