Largest lenders in Clay County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Northwest Bank | A | 184 | 151 | 4.9% | 6.50% |
| 2 | Iowa Bankers Mortgage | B | 30 | 21 | 26.7% | 6.38% |
| 3 | Rocket Mortgage | C | 16 | 11 | 18.8% | 6.99% |
| 4 | Flanagan State Bank | D | 16 | 9 | 12.5% | 6.75% |
| 5 | U.S. Bank | D | 13 | 5 | 53.9% | 7.13% |
| 6 | First | C | 12 | 7 | 0.0% | 5.99% |
| 7 | Central Bank | A | 11 | 10 | 9.1% | 6.44% |
| 8 | Mortgage Research Center | C | 7 | 5 | 14.3% | 6.99% |
| 9 | Guaranteed Rate | B | 6 | 2 | 0.0% | 6.69% |
Best approval odds in Clay County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Northwest Bank | 162 | 5.6% |
What Clay County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Clay County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 385 | 293 | 12.0% | 6.75% | $105,000 |
| 2024 | 417 | 271 | 17.0% | 6.63% | $115,000 |
| 2025 | 401 | 275 | 14.0% | 6.50% | $115,000 |
Frequently asked questions
14.0% of applications in Clay County were denied in 2025, against 12.9% statewide in Iowa.
Northwest Bank, with 184 applications in 2025 and a denial rate of 4.9%.
The median mortgage application in Clay County in 2025 was for $115,000; the median property value on originated loans was $195,000.