Lincoln Savings Bank Mortgage Interest Rate and Cost Review

Is Lincoln Savings Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Lincoln Savings Bank to those of other lenders for a comparable set of borrowers. Here is our review of Lincoln Savings Bank nationally:

Review ItemLincoln Savings Bank
Interest Ratesimilar to other lenders (-0.01%)
Loan Related Closing Costssimilar to other lenders (+$100)
National Rate and Closing Cost Star Rating(3.5)

On average, Lincoln Savings Bank’s interest rates were similar to those of other lenders (-0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$100. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Lincoln Savings Bank, check out its website at:

Lincoln Savings Bank’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Lincoln Savings Bank was most active in:

  1. Des Moines, IA
  2. Waterloo, IA
  3. Newton, IA
  4. Ottumwa, IA
  5. Cedar Rapids, IA

In addition, Lincoln Savings Bank is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

Lincoln Savings Bank’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Lincoln Savings Bank originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.00%-0.07%-0.02%+0.00%
Loan Related Closing Cost Difference+$229+$124-$14+$164
Cost Adjusted Rate Difference+0.02%-0.06%-0.02%+0.01%
National Star Rating(3.5)(4)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.01%-0.05%-0.02%
Loan Related Closing Cost Difference-$113-$87-$318
Cost Adjusted Rate Difference+0.00%-0.06%-0.04%
Average Star Rating(3.5)(4)(3.5)

As a summary, Lincoln Savings Bank is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, USDA and VA purchase mortgages. For refinancing mortgages, Lincoln Savings Bank is cheap for FHA mortgage refinance. It is similar to other lenders for Conforming and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Lincoln Savings Bank:

Registered name: Lincoln Savings Bank
Registered city and state: CEDAR FALLS, IA, 50613
Regulator: Federal Deposit Insurance Corporation (FDIC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Lincoln Savings Bank’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.