IBERIABANK Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to other lenders (-0.03%)
Loan Related Closing Costssimilar to other lenders (-$208)
National Rate and Closing Cost Star Rating(3.5)

On average, IBERIABANK’s interest rates were similar to those of other lenders (-0.03%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$208. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit IBERIABANK, check out its website at: https://www.iberiabank.com.

IBERIABANK’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 IBERIABANK was most active in:

  1. Fayetteville, AR
  2. New Orleans, LA
  3. Little Rock, AR
  4. Nashville, TN
  5. Memphis, TN

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

IBERIABANK’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, IBERIABANK originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.03%-0.04%+0.02%-0.05%-0.07%
Loan Related Closing Cost Difference-$173-$138-$15-$80-$204
Cost Adjusted Rate Difference-0.04%-0.05%+0.02%-0.06%-0.09%
National Star Rating(3.5)(3.5)(3.5)(4)(4)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.02%-0.02%+0.00%-0.00%-0.03%
Loan Related Closing Cost Difference-$392-$43-$32+$0-$230
Cost Adjusted Rate Difference-0.06%-0.03%+0.00%+0.00%-0.04%
Average Star Rating(4)(3.5)(3.5)(3.5)(3.5)

As a summary, IBERIABANK is cheap for USDA and VA purchase mortgages. It is similar to other lenders for Conforming, FHA and Jumbo purchase mortgages. For refinancing, IBERIABANK is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo, USDA 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 IBERIABANK:

Registered name: Iberiabank
Registered city and state: Kenner, LA, 70065
Regulator: Consumer Financial Protection Bureau (CFPB)

* 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 IBERIABANK’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.