Top Mortgage Lenders in the Newton, IA area

Which mortgage lender in the Newton, 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 Newton, 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 Newton, IA area is Veridian Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.10%. This means that Veridian Credit Union provided a -0.10% lower interest rate for its customers than other lenders in Newton, IA for a similar set of borrowers. Veridian Credit Union has a market share of 4.9%. On the other hand, the most popular lender in the market is Iowa Bankers Mortgage Corporation, with a market share of 18.2%. Iowa Bankers Mortgage Corporation is also a relatively cheap lender, with a “Rate Difference” of -0.10% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Newton, 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 Newton, IA is Veridian Credit Union. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Great Western Bank. The cheapest VA mortgage provider is GreenState Credit Union. To get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders by “Rate Rank” for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Veridian Credit Union 1, -0.10% 4.93%
Iowa Bankers Mortgage Corporation 2, -0.10% 18.20%
GreenState Credit Union 3, -0.07% 15.90%
Bank Iowa 4, -0.03% 3.51%
Wells Fargo Bank 5, -0.01% 7.79%
Us Bank 6, 0.00% 6.36%
Lincoln Savings Bank 7, 0.01% 5.48%
Compass Mortgage Inc 8, 0.02% 5.37%
Great Western Bank 9, 0.03% 5.48%
Quicken Loans 10, 0.10% 13.05%
Guaranteed Rate Inc 11, 0.12% 7.13%
Barrington Bank & Trust 12, 0.16% 6.80%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Veridian Credit Union 1, -0.13% 5.89%
Iowa Bankers Mortgage Corporation 2, -0.07% 16.39%
Great Western Bank 3, -0.05% 4.97%
Wells Fargo Bank 4, -0.04% 10.31%
Us Bank 5, -0.04% 6.63%
Bank Iowa 6, -0.04% 3.68%
GreenState Credit Union 7, -0.03% 14.55%
Lincoln Savings Bank 8, -0.00% 5.71%
Compass Mortgage Inc 9, 0.02% 4.42%
Quicken Loans 10, 0.04% 7.37%
Guaranteed Rate Inc 11, 0.12% 11.23%
Barrington Bank & Trust 12, 0.19% 8.84%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.14% 20.87%
GreenState Credit Union 2, -0.10% 17.89%
Veridian Credit Union 3, -0.05% 3.52%
Bank Iowa 4, -0.02% 3.25%
Compass Mortgage Inc 5, 0.02% 6.78%
Guaranteed Rate Inc 6, 0.03% 1.08%
Barrington Bank & Trust 7, 0.03% 3.79%
Lincoln Savings Bank 8, 0.04% 5.15%
Us Bank 9, 0.06% 5.96%
Wells Fargo Bank 10, 0.08% 4.07%
Great Western Bank 11, 0.13% 6.23%
Quicken Loans 12, 0.14% 21.41%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Veridian Credit Union 1, -0.11% 5.45%
Iowa Bankers Mortgage Corporation 2, -0.09% 22.38%
GreenState Credit Union 3, -0.06% 19.58%
Bank Iowa 4, -0.02% 4.48%
Wells Fargo Bank 5, -0.00% 8.95%
Us Bank 6, 0.01% 6.99%
Compass Mortgage Inc 7, 0.03% 3.92%
Lincoln Savings Bank 8, 0.04% 4.90%
Great Western Bank 9, 0.07% 5.45%
Guaranteed Rate Inc 10, 0.11% 4.62%
Quicken Loans 11, 0.20% 8.39%
Barrington Bank & Trust 12, 0.21% 4.90%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Veridian Credit Union 1, -0.12% 7.50%
Iowa Bankers Mortgage Corporation 2, -0.06% 20.75%
Wells Fargo Bank 3, -0.03% 12.25%
Bank Iowa 4, -0.03% 5.00%
Us Bank 5, -0.02% 7.25%
Great Western Bank 6, -0.02% 4.50%
GreenState Credit Union 7, -0.02% 18.75%
Lincoln Savings Bank 8, 0.03% 4.00%
Compass Mortgage Inc 9, 0.06% 2.00%
Quicken Loans 10, 0.10% 4.00%
Guaranteed Rate Inc 11, 0.11% 7.50%
Barrington Bank & Trust 12, 0.27% 6.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Iowa Bankers Mortgage Corporation 1, -0.14% 24.44%
GreenState Credit Union 2, -0.10% 20.63%
Veridian Credit Union 3, -0.07% 2.86%
Bank Iowa 4, -0.02% 3.81%
Compass Mortgage Inc 5, 0.02% 6.35%
Barrington Bank & Trust 6, 0.04% 2.86%
Guaranteed Rate Inc 7, 0.04% 0.95%
Lincoln Savings Bank 8, 0.04% 6.03%
Us Bank 9, 0.07% 6.67%
Wells Fargo Bank 10, 0.08% 4.76%
Great Western Bank 11, 0.15% 6.67%
Quicken Loans 12, 0.24% 13.97%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Great Western Bank 1, -0.13% 5.80%
Us Bank 2, -0.08% 4.35%
Lincoln Savings Bank 3, -0.08% 7.97%
Iowa Bankers Mortgage Corporation 4, -0.05% 0.72%
Quicken Loans 5, -0.04% 33.33%
Compass Mortgage Inc 6, -0.02% 13.04%
Wells Fargo Bank 7, -0.02% 1.45%
Barrington Bank & Trust 8, 0.08% 14.49%
Guaranteed Rate Inc 9, 0.13% 18.84%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Great Western Bank 1, -0.16% 6.60%
Us Bank 2, -0.10% 5.66%
Lincoln Savings Bank 3, -0.09% 10.38%
Iowa Bankers Mortgage Corporation 4, -0.06% 0.94%
Quicken Loans 5, -0.04% 21.70%
Compass Mortgage Inc 6, -0.03% 13.21%
Wells Fargo Bank 7, -0.03% 1.89%
Barrington Bank & Trust 8, 0.07% 16.04%
Guaranteed Rate Inc 9, 0.12% 23.58%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 71.88%
Great Western Bank 2, 0.01% 3.12%
Compass Mortgage Inc 3, 0.03% 12.50%
Guaranteed Rate Inc 4, 0.04% 3.12%
Barrington Bank & Trust 5, 0.05% 9.38%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
GreenState Credit Union 1, -0.05% 8.47%
Veridian Credit Union 2, -0.04% 10.17%
Iowa Bankers Mortgage Corporation 3, -0.03% 8.47%
Wells Fargo Bank 4, -0.01% 8.47%
Great Western Bank 5, -0.00% 5.08%
Us Bank 6, -0.00% 3.39%
Guaranteed Rate Inc 7, 0.00% 10.17%
Compass Mortgage Inc 8, 0.01% 5.08%
Lincoln Savings Bank 9, 0.01% 6.78%
Quicken Loans 10, 0.03% 22.03%
Barrington Bank & Trust 11, 0.03% 11.86%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
GreenState Credit Union 1, -0.05% 10.81%
Iowa Bankers Mortgage Corporation 2, -0.03% 13.51%
Veridian Credit Union 3, -0.02% 5.41%
Wells Fargo Bank 4, -0.01% 13.51%
Us Bank 5, -0.00% 2.70%
Quicken Loans 6, 0.00% 2.70%
Great Western Bank 7, 0.00% 5.41%
Guaranteed Rate Inc 8, 0.01% 16.22%
Compass Mortgage Inc 9, 0.02% 5.41%
Lincoln Savings Bank 10, 0.02% 10.81%
Barrington Bank & Trust 11, 0.05% 13.51%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Veridian Credit Union 1, -0.05% 18.18%
GreenState Credit Union 2, -0.02% 4.55%
Great Western Bank 3, -0.01% 4.55%
Barrington Bank & Trust 4, -0.01% 9.09%
Us Bank 5, -0.00% 4.55%
Compass Mortgage Inc 6, 0.00% 4.55%
Quicken Loans 7, 0.02% 54.55%

* Data is compiled for the Newton, IA commuting zone area, which comprises of counties of Jasper County, IA, Marshall County, IA, Poweshiek County, IA, and Tama County, IA. This includes cities/towns/communities of Newton, IA as well as Marshalltown, IA, Grinnell, IA, Valeria, IA, Mitchellville, IA, Hartwick, IA, Kellogg, IA, Le Grand, IA, Clemons, IA, Melbourne, IA, Guernsey, IA, Sully, IA, Clutier, IA, Traer, IA, Albion, IA, Tama, IA, Gladbrook, IA, Toledo, IA, and Vining, 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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