Is Dubuque Bank & Trust Co. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Dubuque Bank & Trust Co. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.03%)
Loan Related Closing Costs: higher than average (+$397)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Dubuque Bank & Trust Co. originated 2011 mortgages, a national market share of 0.0%. It was most active in MT (2.3% market share), NM (0.8% market share), and IA (0.3% market share).

On average, Dubuque Bank & Trust Co.’s interest rates were similar to those of comparable mortgages at other lenders (-0.03%).3The comparable mortgages control for Dubuque Bank & Trust Co.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $4253, which was higher than those of comparable mortgages at $3856, with a difference of +$397. Overall, we estimate that Dubuque Bank & Trust Co. tends to be an average cost lender, with a cost-adjusted-rate difference of +0.00% compared to comparable mortgages at other lenders.4Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Dubuque Bank & Trust Co..

Dubuque Bank & Trust Co. originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Dubuque Bank & Trust Co. compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.03% +0.04% +0.02%
Loan related Closing Cost Difference +$508 +$449 +$482
Cost Adjusted Rate Difference +0.01% +0.08% +0.05%

Based on the table above, Dubuque Bank & Trust Co. is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for FHA and VA purchase mortgages.

Mortgage Refinancing from Dubuque Bank & Trust Co. compared to other lenders

Conforming
Interest Rate Difference -0.07%
Loan Related Closing Cost Difference -$69
Cost Adjusted Rate Difference -0.08%

Based on the table above, Dubuque Bank & Trust Co. is cheap for Conforming mortgage refinance.

Other information about Dubuque Bank & Trust Co.:

Regulator: Federal Deposit Insurance Corporation (FDIC) 
Top holder: HEARTLAND FINANCIAL USA, INC.
Registered city and state: DUBUQUE, IA, 52001
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Footnotes

1, 3 The comparable mortgages control for Dubuque Bank & Trust Co.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2, 4 Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.