Which mortgage lender in the Newton, 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 Newton, IA area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and 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 Newton, IA area in terms of interest rate is Veridian Credit Union, with an average “Rate Difference” of -0.10%. This means that, comparing similar borrowers, Veridian Credit Union provided a -0.10% lower interest rate for its customers than other lenders in the area. Veridian Credit Union has a market share of 4.9%. On the other hand, the most popular lender in the Newton, IA area is Iowa Bankers Mortgage Corporation, with a larger market share of 18.2%. Iowa Bankers Mortgage Corporation is also a relatively cheap lender, with a “Rate Difference” of -0.10% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in 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, going by historical data, 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. 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 Newton, IA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.10% | 4.93% | |
| Iowa Bankers Mortgage Corporation | -0.10% | 18.20% | |
| GreenState Credit Union | -0.07% | 15.90% | |
| Bank Iowa | -0.03% | 3.51% | |
| Wells Fargo Bank | -0.01% | 7.79% | |
| US Bank | 0.00% | 6.36% | |
| Lincoln Savings Bank | 0.01% | 5.48% | |
| Compass Mortgage | 0.02% | 5.37% | |
| Great Western Bank | 0.03% | 5.48% | |
| Quicken Loans | 0.10% | 13.05% | |
| Guaranteed Rate | 0.12% | 7.13% | |
| Barrington Bank & Trust | 0.16% | 6.80% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.13% | 5.89% | |
| Iowa Bankers Mortgage Corporation | -0.07% | 16.39% | |
| Great Western Bank | -0.05% | 4.97% | |
| Wells Fargo Bank | -0.04% | 10.31% | |
| US Bank | -0.04% | 6.63% | |
| Bank Iowa | -0.04% | 3.68% | |
| GreenState Credit Union | -0.03% | 14.55% | |
| Lincoln Savings Bank | -0.00% | 5.71% | |
| Compass Mortgage | 0.02% | 4.42% | |
| Quicken Loans | 0.04% | 7.37% | |
| Guaranteed Rate | 0.12% | 11.23% | |
| Barrington Bank & Trust | 0.19% | 8.84% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Iowa Bankers Mortgage Corporation | -0.14% | 20.87% | |
| GreenState Credit Union | -0.10% | 17.89% | |
| Veridian Credit Union | -0.05% | 3.52% | |
| Bank Iowa | -0.02% | 3.25% | |
| Compass Mortgage | 0.02% | 6.78% | |
| Guaranteed Rate | 0.03% | 1.08% | |
| Barrington Bank & Trust | 0.03% | 3.79% | |
| Lincoln Savings Bank | 0.04% | 5.15% | |
| US Bank | 0.06% | 5.96% | |
| Wells Fargo Bank | 0.08% | 4.07% | |
| Great Western Bank | 0.13% | 6.23% | |
| Quicken Loans | 0.14% | 21.41% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.11% | 5.45% | |
| Iowa Bankers Mortgage Corporation | -0.09% | 22.38% | |
| GreenState Credit Union | -0.06% | 19.58% | |
| Bank Iowa | -0.02% | 4.48% | |
| Wells Fargo Bank | -0.00% | 8.95% | |
| US Bank | 0.01% | 6.99% | |
| Compass Mortgage | 0.03% | 3.92% | |
| Lincoln Savings Bank | 0.04% | 4.90% | |
| Great Western Bank | 0.07% | 5.45% | |
| Guaranteed Rate | 0.11% | 4.62% | |
| Quicken Loans | 0.20% | 8.39% | |
| Barrington Bank & Trust | 0.21% | 4.90% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.12% | 7.50% | |
| Iowa Bankers Mortgage Corporation | -0.06% | 20.75% | |
| Wells Fargo Bank | -0.03% | 12.25% | |
| Bank Iowa | -0.03% | 5.00% | |
| US Bank | -0.02% | 7.25% | |
| Great Western Bank | -0.02% | 4.50% | |
| GreenState Credit Union | -0.02% | 18.75% | |
| Lincoln Savings Bank | 0.03% | 4.00% | |
| Compass Mortgage | 0.06% | 2.00% | |
| Quicken Loans | 0.10% | 4.00% | |
| Guaranteed Rate | 0.11% | 7.50% | |
| Barrington Bank & Trust | 0.27% | 6.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Iowa Bankers Mortgage Corporation | -0.14% | 24.44% | |
| GreenState Credit Union | -0.10% | 20.63% | |
| Veridian Credit Union | -0.07% | 2.86% | |
| Bank Iowa | -0.02% | 3.81% | |
| Compass Mortgage | 0.02% | 6.35% | |
| Barrington Bank & Trust | 0.04% | 2.86% | |
| Guaranteed Rate | 0.04% | 0.95% | |
| Lincoln Savings Bank | 0.04% | 6.03% | |
| US Bank | 0.07% | 6.67% | |
| Wells Fargo Bank | 0.08% | 4.76% | |
| Great Western Bank | 0.15% | 6.67% | |
| Quicken Loans | 0.24% | 13.97% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Great Western Bank | -0.13% | 5.80% | |
| US Bank | -0.08% | 4.35% | |
| Lincoln Savings Bank | -0.08% | 7.97% | |
| Iowa Bankers Mortgage Corporation | -0.05% | 0.72% | |
| Quicken Loans | -0.04% | 33.33% | |
| Compass Mortgage | -0.02% | 13.04% | |
| Wells Fargo Bank | -0.02% | 1.45% | |
| Barrington Bank & Trust | 0.08% | 14.49% | |
| Guaranteed Rate | 0.13% | 18.84% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Great Western Bank | -0.16% | 6.60% | |
| US Bank | -0.10% | 5.66% | |
| Lincoln Savings Bank | -0.09% | 10.38% | |
| Iowa Bankers Mortgage Corporation | -0.06% | 0.94% | |
| Quicken Loans | -0.04% | 21.70% | |
| Compass Mortgage | -0.03% | 13.21% | |
| Wells Fargo Bank | -0.03% | 1.89% | |
| Barrington Bank & Trust | 0.07% | 16.04% | |
| Guaranteed Rate | 0.12% | 23.58% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 71.88% | |
| Great Western Bank | 0.01% | 3.12% | |
| Compass Mortgage | 0.03% | 12.50% | |
| Guaranteed Rate | 0.04% | 3.12% | |
| Barrington Bank & Trust | 0.05% | 9.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| GreenState Credit Union | -0.05% | 8.47% | |
| Veridian Credit Union | -0.04% | 10.17% | |
| Iowa Bankers Mortgage Corporation | -0.03% | 8.47% | |
| Wells Fargo Bank | -0.01% | 8.47% | |
| Great Western Bank | -0.00% | 5.08% | |
| US Bank | -0.00% | 3.39% | |
| Guaranteed Rate | 0.00% | 10.17% | |
| Compass Mortgage | 0.01% | 5.08% | |
| Lincoln Savings Bank | 0.01% | 6.78% | |
| Quicken Loans | 0.03% | 22.03% | |
| Barrington Bank & Trust | 0.03% | 11.86% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| GreenState Credit Union | -0.05% | 10.81% | |
| Iowa Bankers Mortgage Corporation | -0.03% | 13.51% | |
| Veridian Credit Union | -0.02% | 5.41% | |
| Wells Fargo Bank | -0.01% | 13.51% | |
| US Bank | -0.00% | 2.70% | |
| Quicken Loans | 0.00% | 2.70% | |
| Great Western Bank | 0.00% | 5.41% | |
| Guaranteed Rate | 0.01% | 16.22% | |
| Compass Mortgage | 0.02% | 5.41% | |
| Lincoln Savings Bank | 0.02% | 10.81% | |
| Barrington Bank & Trust | 0.05% | 13.51% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.05% | 18.18% | |
| GreenState Credit Union | -0.02% | 4.55% | |
| Great Western Bank | -0.01% | 4.55% | |
| Barrington Bank & Trust | -0.01% | 9.09% | |
| US Bank | -0.00% | 4.55% | |
| Compass Mortgage | 0.00% | 4.55% | |
| Quicken Loans | 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 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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