Top Mortgage Lenders in Ottumwa, IA

Which mortgage lender in the Ottumwa, 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 Ottumwa, 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 Ottumwa, IA area in terms of interest rate is Iowa Bankers Mortgage Corporation, with an average “Rate Difference” of -0.18%. This means that, comparing similar borrowers, Iowa Bankers Mortgage Corporation provided a -0.18% lower interest rate for its customers than other lenders in the area. Iowa Bankers Mortgage Corporation has a market share of 23.3%. It is the most popular lender in the Ottumwa, IA area.

Our detailed ranking of mortgage lenders in 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 $548,250 in 2021), the cheapest Jumbo mortgage provider is Fairway Independent Mortgage Corporation. 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. 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 Ottumwa, IA

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.18%(4.5)23.28%
MidWestOne Bank-0.11%(4.0)5.87%
West Gate Bank-0.07%(4.0)6.57%
Bank Iowa-0.01%(3.5)3.78%
GreenState Credit Union0.01%(3.5)3.08%
Fairway Independent Mortgage Corporation0.04%(3.5)5.87%
US Bank0.04%(3.5)8.96%
Quicken Loans0.08%(3.0)10.25%
Community 1st Credit Union0.11%(3.0)20.10%
Wells Fargo Bank0.14%(3.0)12.24%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.15%(4.0)22.82%
MidWestOne Bank-0.11%(4.0)5.91%
West Gate Bank-0.08%(4.0)6.73%
GreenState Credit Union-0.02%(3.5)2.30%
US Bank-0.02%(3.5)9.36%
Bank Iowa0.02%(3.5)2.96%
Quicken Loans0.02%(3.5)5.42%
Fairway Independent Mortgage Corporation0.03%(3.5)7.06%
Wells Fargo Bank0.09%(3.0)14.78%
Community 1st Credit Union0.13%(3.0)22.66%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.24%(4.5)23.99%
MidWestOne Bank-0.10%(4.0)5.81%
West Gate Bank-0.07%(4.0)6.31%
Bank Iowa-0.03%(3.5)5.05%
GreenState Credit Union0.04%(3.5)4.29%
Fairway Independent Mortgage Corporation0.05%(3.5)4.04%
Community 1st Credit Union0.07%(3.0)16.16%
Quicken Loans0.12%(3.0)17.68%
US Bank0.14%(3.0)8.33%
Wells Fargo Bank0.24%(2.5)8.33%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.19%(4.5)24.83%
MidWestOne Bank-0.10%(4.0)6.54%
West Gate Bank-0.07%(4.0)7.32%
Bank Iowa-0.01%(3.5)4.21%
GreenState Credit Union0.01%(3.5)3.44%
Fairway Independent Mortgage Corporation0.05%(3.5)3.66%
US Bank0.05%(3.0)8.65%
Community 1st Credit Union0.11%(3.0)22.39%
Quicken Loans0.13%(3.0)6.32%
Wells Fargo Bank0.15%(3.0)12.64%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.15%(4.5)23.99%
MidWestOne Bank-0.11%(4.0)6.64%
West Gate Bank-0.08%(4.0)7.56%
GreenState Credit Union-0.02%(3.5)2.58%
US Bank-0.01%(3.5)8.49%
Bank Iowa0.01%(3.5)3.32%
Fairway Independent Mortgage Corporation0.04%(3.5)4.24%
Quicken Loans0.05%(3.0)2.77%
Wells Fargo Bank0.10%(3.0)14.94%
Community 1st Credit Union0.13%(3.0)25.46%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.23%(4.5)26.11%
MidWestOne Bank-0.10%(4.0)6.39%
West Gate Bank-0.06%(4.0)6.94%
Bank Iowa-0.03%(3.5)5.56%
GreenState Credit Union0.04%(3.5)4.72%
Fairway Independent Mortgage Corporation0.06%(3.0)2.78%
Community 1st Credit Union0.07%(3.0)17.78%
US Bank0.15%(3.0)8.89%
Quicken Loans0.18%(2.5)11.67%
Wells Fargo Bank0.25%(2.5)9.17%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.07%(4.0)8.57%
US Bank-0.04%(3.5)10.00%
Wells Fargo Bank-0.00%(3.5)4.29%
Quicken Loans0.00%(3.5)47.14%
Fairway Independent Mortgage Corporation0.03%(3.5)30.00%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.08%(4.0)10.20%
US Bank-0.04%(3.5)14.29%
Wells Fargo Bank0.00%(3.5)6.12%
Quicken Loans0.00%(3.5)32.65%
Fairway Independent Mortgage Corporation0.03%(3.5)36.73%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.03%(3.5)4.76%
Quicken Loans-0.00%(3.5)80.95%
Fairway Independent Mortgage Corporation0.02%(3.5)14.29%
Lender NameRate DifferenceRate RatingMarket Share
Fairway Independent Mortgage Corporation0.00%(3.5)66.67%
US Bank0.00%(3.5)33.33%
Insufficient data available.
Lender NameRate DifferenceRate RatingMarket Share
Fairway Independent Mortgage Corporation0.00%(3.5)66.67%
US Bank0.00%(3.5)33.33%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.06%(4.0)13.33%
US Bank-0.03%(3.5)13.33%
Wells Fargo Bank-0.01%(3.5)20.00%
Fairway Independent Mortgage Corporation-0.01%(3.5)10.00%
Quicken Loans0.03%(3.5)43.33%
Lender NameRate DifferenceRate RatingMarket Share
Iowa Bankers Mortgage Corporation-0.03%(3.5)22.22%
US Bank-0.01%(3.5)22.22%
Fairway Independent Mortgage Corporation0.01%(3.5)11.11%
Wells Fargo Bank0.01%(3.5)33.33%
Quicken Loans0.04%(3.5)11.11%
Lender NameRate DifferenceRate RatingMarket Share
Fairway Independent Mortgage Corporation-0.04%(3.5)8.33%
Quicken Loans0.00%(3.5)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 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.

Mortgage Lender Rankings in Other Cities

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