Best mortgage lenders in Iowa
No lender is best for everyone, so this page ranks Iowa lenders on what federal records can measure: who makes the most loans here, who leads for FHA and VA, and what their Iowa borrowers paid. All figures are 2025 HMDA data; no lender pays to be listed.
Who leads for what in Iowa
"Most loans" and "Largest average loan" are among the 15 lenders with the most Iowa originations in 2025 (the latter counts lenders with at least 300 loans in the state); FHA and VA leaders count every lender's home-purchase loans.
The 15 lenders that made the most home loans in Iowa
| # | Lender | Type | Loans | FHA | VA | Avg loan | Approval* |
|---|---|---|---|---|---|---|---|
| 1 | Greenstate Credit Union | — | 10,661 | 2.5% | 1.9% | $180,777 | 92.9% |
| 2 | Veridian Credit Union | — | 6,247 | 0.0% | 1.1% | $147,678 | 89.0% |
| 3 | Hills Bank and Trust Company | — | 2,874 | 0.0% | 0.0% | $220,191 | 93.2% |
| 4 | Rocket Mortgage | Nonbank lender | 2,551 | 25.3% | 9.3% | $173,330 | 74.9% |
| 5 | Dupaco Community | — | 1,990 | 0.0% | 0.0% | $124,990 | 82.2% |
| 6 | Iowa Bankers Mortgage Corporation | — | 1,849 | 2.7% | 2.3% | $218,440 | 83.2% |
| 7 | Community Choice Credit Union | — | 1,760 | 2.6% | 1.5% | $196,108 | 84.9% |
| 8 | Northwest Bank | — | 1,743 | 2.1% | 0.9% | $219,814 | 93.4% |
| 9 | U.S. Bank | Bank | 1,593 | 3.8% | 2.6% | $174,868 | 69.5% |
| 10 | New American Funding | Nonbank lender | 1,432 | 32.6% | 7.8% | $180,978 | 90.4% |
| 11 | United Wholesale Mortgage | Nonbank lender | 1,391 | 24.8% | 31.8% | $251,520 | 86.1% |
| 12 | MidWestOne Bank | — | 1,090 | 0.0% | 0.0% | $174,991 | 82.6% |
| 13 | Veterans United | Nonbank lender | 957 | 4.6% | 91.0% | $244,352 | 74.0% |
| 14 | Community 1ST Credit Union | — | 946 | 0.0% | 0.0% | $87,706 | 84.5% |
| 15 | Central Bank | — | 916 | 6.7% | 2.5% | $277,139 | 94.8% |
Source: 2025 HMDA originations, FFIEC/CFPB. FHA/VA = share of each lender's Iowa loans. *Approval = originated ÷ (originated + denied); it mirrors a lender's channel and borrower mix, not how hard it is to qualify.
Also among the 25 lenders with the most HMDA filings here: PennyMac, Newrez, AmeriHome Mortgage Company, LLC, 21st Mortgage Corporation, Planet Home Lending, Collins Community Credit Union, Guaranteed Rate (Rate), Empeople Credit Union, Freedom Mortgage, AmeriSave Mortgage.
FHA lenders in Iowa
4,209 FHA home-purchase loans were made in Iowa in 2025 by 165 lenders. The typical FHA buyer here paid $7,413 in loan costs, including the 1.75% upfront mortgage insurance premium, at a median rate of 6.50%. The ten lenders that made the most:
| # | Lender | FHA purchases | Share | Loan costs | APR vs benchmark |
|---|---|---|---|---|---|
| 1 | New American Funding | 365 | 8.7% | $7,726 | +0.93 |
| 2 | Rocket Mortgage | 257 | 6.1% | $7,840 | +0.65 |
| 3 | Greenstate Credit Union | 252 | 6.0% | $5,816 | +0.03 |
| 4 | DHI Mortgage | 199 | 4.7% | $7,816 | −0.89 |
| 5 | United Wholesale Mortgage | 164 | 3.9% | $7,582 | +0.59 |
| 6 | Guild Mortgage | 135 | 3.2% | $8,050 | +0.89 |
| 7 | Cardinal Financial | 125 | 3.0% | $10,360 | +1.34 |
| 8 | Guaranteed Rate (Rate) | 113 | 2.7% | $7,895 | +0.69 |
| 9 | CMG Home Loans | 110 | 2.6% | $7,467 | +0.62 |
| 10 | American Pacific Mortgage Corporation | 97 | 2.3% | $8,717 | +1.16 |
| All Iowa FHA buyers | 4,209 | 100% | $7,413 | +0.66 |
Among them, Greenstate Credit Union had the lowest median loan costs ($5,816) and Cardinal Financial the highest ($10,360) — $4,544 apart on similar loans, which is why a second Loan Estimate is worth getting. Homebuilder-owned lenders can show far-below-market APRs because builders pay to buy down the rate on their own new homes.
Source: 2025 HMDA loan-level records (FFIEC/CFPB), first-lien FHA home purchases in Iowa. Costs and APR vs benchmark are medians of each lender's 30-year fixed loans here; "—" = fewer than 30. How we compare lenders.
VA lenders in Iowa
2,436 VA home-purchase loans were made in Iowa in 2025 by 129 lenders. The typical VA buyer here paid $4,237 in loan costs (including the VA funding fee for borrowers who owe it) at a median rate of 6.25%. The ten lenders that made the most:
| # | Lender | VA purchases | Share | Loan costs | APR vs benchmark |
|---|---|---|---|---|---|
| 1 | Veterans United | 702 | 28.8% | $3,815 | −0.17 |
| 2 | Greenstate Credit Union | 176 | 7.2% | $2,332 | −0.72 |
| 3 | Residential Mortgage Network, Inc. | 119 | 4.9% | $2,712 | −0.45 |
| 4 | New American Funding | 83 | 3.4% | $7,209 | +0.08 |
| 5 | Navy Federal Credit Union | 74 | 3.0% | $2,146 | −0.59 |
| 6 | DHI Mortgage | 73 | 3.0% | $1,951 | −1.40 |
| 7 | United Wholesale Mortgage | 71 | 2.9% | $4,363 | −0.14 |
| 8 | Veridian Credit Union | 66 | 2.7% | $5,762 | −0.73 |
| 9 | USAA | 58 | 2.4% | $4,761 | −0.24 |
| 10 | Newrez | 54 | 2.2% | $3,830 | −0.44 |
| All Iowa VA buyers | 2,436 | 100% | $4,237 | −0.28 |
Among them, DHI Mortgage had the lowest median loan costs ($1,951) and New American Funding the highest ($7,209) — $5,258 apart, though VA costs also depend on how many of a lender's borrowers are exempt from the funding fee.
Source: 2025 HMDA loan-level records (FFIEC/CFPB), first-lien VA home purchases in Iowa. Costs and APR vs benchmark are medians of each lender's 30-year fixed loans here; "—" = fewer than 30. Data notes and limits.
How concentrated is the Iowa market?
739 institutions reported Iowa home-loan records for 2025 — the 24th-fewest of any state. The single most active lender accounts for 11.2% of all records and the top five for 27.9%, the 8th-most concentrated market of 51. With volume spread across many lenders, there is plenty of room to shop beyond the biggest names.
How to choose a lender in Iowa
Iowa borrowers took FHA loans 7.9% of the time and VA loans 5.5% (U.S. 13.2% and 8.2%). Every Iowa county uses the $832,750 conforming limit, so loans above it are jumbo and priced separately.
Get Loan Estimates from three or more lenders in the same two-week window (one credit inquiry) and compare APRs. For down-payment help, ask whether they are approved for Iowa Finance Authority's FirstHome or Military Homeownership Assistance — only participating lenders can offer them (terms and sources).
Iowa lender FAQ
Who is the biggest mortgage lender in Iowa?
By 2025 federal HMDA data, Greenstate Credit Union originated the most home loans in Iowa — about 10,661, or 14.0% of the state's originations.
Which lender makes the most FHA loans in Iowa?
New American Funding made the most FHA home-purchase loans in Iowa in 2025 — 365, or 8.7% of the 4,209 FHA purchases made by 165 lenders. Rocket Mortgage (257) was second.
Which lender makes the most VA loans in Iowa?
Veterans United made the most VA home-purchase loans in Iowa in 2025 (702, 28.8% of the state's VA purchases). VA loans were 5.5% of Iowa originations, the 14th-lowest VA share among the states.
How much are closing costs on an FHA loan in Iowa?
The typical Iowa FHA buyer in 2025 paid $7,413 in total loan costs on a median $205,000 loan — lender fees, required third-party services and the 1.75% upfront mortgage insurance premium, per the Closing Disclosure.
That figure excludes recording taxes, prepaid interest and insurance, escrow deposits and the down payment.
Rankings are editorial and independent, built from public federal data — no lender pays to be listed. This is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.
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