Top Mortgage Lenders in Red Oak, IA

Which mortgage lender in the Red Oak, IA area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Red Oak, IA area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings.

Going by historical data, the best mortgage lender in the Red Oak, IA area in terms of interest rate is Bank Iowa, with an average “Rate Difference” of -0.05%. This means that, comparing similar borrowers, Bank Iowa provided a -0.05% lower interest rate for its customers than other lenders in the area. Bank Iowa has a market share of 41.4%. It is the most popular lender in the Red Oak, IA area.

Our detailed ranking of mortgage lenders in the Red Oak, 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 Red Oak, IA is Bank Iowa. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Quicken Loans. The cheapest VA mortgage provider is also Quicken Loans. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.

Ranking of Mortgage Lenders in Red Oak, IA

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.05%(4.0)41.38%
Quicken Loans0.03%(3.5)31.03%
Castle & Cooke Mortgage0.05%(3.5)27.59%
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.04%(3.5)39.05%
Quicken Loans0.01%(3.5)24.76%
Castle & Cooke Mortgage0.03%(3.5)36.19%
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.07%(4.0)47.50%
Castle & Cooke Mortgage0.06%(3.0)5.00%
Quicken Loans0.07%(3.0)47.50%
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.03%(3.5)70.59%
Quicken Loans0.07%(3.0)21.18%
Castle & Cooke Mortgage0.07%(3.0)8.24%
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.02%(3.5)73.21%
Quicken Loans0.05%(3.0)16.07%
Castle & Cooke Mortgage0.05%(3.0)10.71%
Lender NameRate DifferenceRate RatingMarket Share
Bank Iowa-0.06%(4.0)65.52%
Castle & Cooke Mortgage0.08%(3.0)3.45%
Quicken Loans0.11%(3.0)31.03%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.02%(3.5)42.00%
Castle & Cooke Mortgage0.02%(3.5)58.00%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.02%(3.5)33.33%
Castle & Cooke Mortgage0.01%(3.5)66.67%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.00%(3.5)87.50%
Castle & Cooke Mortgage0.01%(3.5)12.50%
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Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.01%(3.5)60.00%
Castle & Cooke Mortgage0.02%(3.5)40.00%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.00%(3.5)42.86%
Castle & Cooke Mortgage0.00%(3.5)57.14%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans0.00%(3.5)100.00%

* Data is compiled for the Red Oak, IA commuting zone area, which comprises of counties of Fremont County, IA, Montgomery County, IA, Page County, IA, and Atchison County, MO. This includes cities/towns/communities of Red Oak, IA as well as Shenandoah, IA, Clarinda, IA, Tabor, IA, Percival, IA, Stanton, IA, Essex, IA, Grant, IA, Fairfax, MO, Phelps City, MO, Imogene, IA, and Yorktown, IA. Lenders must have made at least 30 loans in the area to be included. Source of the data is 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 conditional on the commuting zone, 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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