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Iowa · 2025 HMDA data

Mortgage lenders in Iowa: denial rates, approval odds and real rates (2025)

739 lenders acted on 110,919 mortgage applications in Iowa in 2025. 12.9% were denied, against 18.0% nationally. The median interest rate on loans that closed was 6.50%, the median loan $135,000.

111kApplications
12.9%Denial rateUS 18.0%
6.50%Median rateUS 6.63%
$135,000Median loanUS $225,000
$16BOriginated volume

Largest mortgage lenders in Iowa

By applications received in 2025. Grade is the lender's national grade.

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 GREENSTATE Credit Union B 13,82910,661 5.9%6.50%
2 Veridian Credit Union B 8,7256,247 8.9%6.49%
3 Rocket Mortgage C 3,7612,551 22.7%6.63%
4 Hills Bank and Trust A 3,4342,874 6.1%6.25%
5 U.S. Bank D 2,7201,593 25.7%7.00%
6 Dupaco Community A 2,6691,990 16.1%7.00%
7 Community Choice Credit Union B 2,6531,760 11.8%6.13%
8 Iowa Bankers Mortgage B 2,4231,849 15.4%6.50%
9 Broker Solutions D 2,3861,432 6.4%6.75%
10 Northwest Bank A 2,1811,743 5.7%6.38%
11 United Shore Financial Services B 1,9501,391 11.5%6.13%
12 Mortgage Research Center C 1,857957 18.1%6.25%
13 MidWestOne Bank A 1,4881,090 15.4%6.00%
14 Community 1st Credit Union D 1,389946 12.5%1.00%
15 21st Mortgage F 1,292268 57.1%11.07%
16 Pennymac Loan Services C 1,281631 13.5%6.50%
17 Collins Community Credit Union C 1,170778 16.1%6.75%
18 Central Bank A 1,121916 4.5%6.63%
19 Empeople Credit Union C 1,057720 14.2%6.49%
20 AmeriSave Mortgage D 1,031197 67.3%7.38%
21 Guaranteed Rate B 1,023654 6.7%6.50%
22 Dhi Mortgage Company B 991671 10.5%5.38%
23 Newrez D 939343 20.2%6.25%
24 Bank Iowa C 929735 9.7%7.05%
25 Freedom Mortgage B 919338 14.7%6.25%
Top-rated mortgage lenders Best approval odds Lowest median interest rates Largest mortgage lenders by volume Top FHA lenders Top VA lenders Top refinance lenders Top home equity lenders

Best approval odds in Iowa

Lowest decision denial rate among lenders that decided at least 300 Iowa applications in 2025.

#LenderDecidedDecision denial rateMedian rate
1Flat Branch Mortgage3000.3%6.56%
2Ruhl Mortgage4080.7%6.25%
3Residential Mortgage Network5450.9%6.50%
4Coastal Community Bank6511.8%10.99%
5Guild Mortgage6072.5%6.63%
6Fidelity Bank3212.8%—
7Luana Savings Bank6542.9%6.13%
8Homeservices Lending5513.3%6.50%
9West Gate Bank4973.4%6.38%
10Fidelity Bank & Trust7533.5%5.95%

Lowest median rates in Iowa

Among lenders reporting rates on at least 100 originated loans. Product mix matters: a VA specialist will show a lower median than a jumbo lender.

#LenderPriced loansMedian rateDenial rate
1Community 1st Credit Union9451.00%12.5%
2Dhi Mortgage Company6715.38%10.5%
3R.I.A. Federal Credit Union1435.75%20.0%
4Financial Plus Credit Union1925.75%7.8%
5Cedar Falls Community Credit Union2565.88%5.1%
6Fidelity Bank & Trust5175.95%3.4%
7MidWestOne Bank1,0906.00%15.4%
8First1386.00%9.0%
9Du Trac Community Credit Union2226.00%4.3%
10Luana Savings Bank6346.13%2.7%

What Iowa borrowers applied for

By loan purpose

Home purchase 53,774 48% · 7.5% denied
Refinance 18,384 17% · 11.7% denied
Cash-out refinance 14,437 13% · 23.5% denied
Home improvement 10,493 9% · 16.2% denied
Other / HELOC 13,831 12% · 21.7% denied

By loan type

Conventional 91,928 83% · 12.0% denied
FHA 10,744 10% · 19.1% denied
VA 7,108 6% · 13.3% denied
USDA / RHS 1,139 1% · 17.4% denied

Denial rate by applicant income

Under $50k 32.3%
$50k – $100k 16.0%
$100k – $150k 10.7%
$150k – $250k 7.7%
Over $250k 6.4%

Why Iowa applications were denied

Credit history 4,350 32%
Debt-to-income ratio 4,080 30%
Collateral 2,027 15%
Incomplete application 1,410 10%
Other 928 7%
Unverifiable information 450 3%
Insufficient cash 295 2%
Employment history 217 2%
Mortgage insurance denied 8 0%

Iowa mortgage market by year

YearApplicationsOriginatedDenial rateMedian rateMedian loanLenders
202393,49764,22212.8%6.75%$115,000727
202499,11967,74913.4%6.75%$125,000739
2025110,91975,93312.9%6.50%$135,000739

Iowa counties

Counties with at least 200 applications in 2025, most active first.

Polk County20k Linn County9.4k Scott County6.2k Johnson County5.6k Dallas County5.2k Black Hawk County5.1k Pottawattamie County3.7k Dubuque County3.4k Woodbury County2.9k Warren County2.6k Story County2.2k Jasper County1.3k Muscatine County1.1k Clinton County1.1k Boone County984 Benton County975 Bremer County920 Marshall County879 Washington County871 Marion County851 Wapello County784 Webster County779 Cedar County706 Sioux County700 Des Moines County689 Buchanan County679 Madison County663 Poweshiek County634 Cerro Gordo County632 Dickinson County600 Mills County585 Mahaska County554 Iowa County547 Jones County519 Delaware County517 Fayette County490 Plymouth County485 Lee County458 Harrison County433 Grundy County401 Clayton County389 Buena Vista County379 Butler County369 Jackson County362 Jefferson County361 Hardin County344 Henry County337 Carroll County324 Tama County323 Guthrie County321 Page County321 Cass County312 Clay County295 Crawford County290 Chickasaw County272 Clarke County272 Union County269 Kossuth County261 Shelby County261 Lucas County257 Montgomery County254 Lyon County248 Hamilton County230 Appanoose County218 Winneshiek County208

Frequently asked questions

12.9% of mortgage applications in Iowa were denied in 2025 (15.3% of applications that reached a decision). Nationally the rate was 18.0%.

GREENSTATE Credit Union handled the most applications in Iowa in 2025: 13,829, with a denial rate of 5.9%.

Among lenders that decided at least 300 applications in Iowa, Flat Branch Mortgage had the lowest decision denial rate at 0.3%.

The median interest rate on loans originated in Iowa in 2025 was 6.50%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.