PlainLender

Bank Iowa

West Des Moines, IA

Bank Iowa processed 867 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 689 loans with a 10.3% denial rate. Home Purchase was the primary loan purpose. Based in West Des Moines, IA. The approval rate of 79.5% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Bank Iowa processed 867 HMDA-reported mortgage applications in 2024, originating 689 loans and denying 89 for a denial rate of 10.3% (applicants themselves withdrew 64 files before a decision). The average loan amount was $195,358 at a 7.428% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300NDNZ6EWP8BJI88 from West Des Moines, IA.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Bank Iowa's 79.5% origination rate tells you how often an application turned into funded money; the 10.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (836 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

867
Applications
689
Originated
10.3%
Denial Rate
$195,358
Avg Loan Amount
Avg Interest Rate: 7.428% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 836 667 81 $198,373
USDA 31 22 8 $114,032

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Bank Iowa (LEI: 549300NDNZ6EWP8BJI88) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
45
Credit history
42
Collateral
9
Other
6
Insufficient cash
6
Employment history
1
Unverifiable information
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 407 329 $246,843
Other 177 134 $82,232
Refinancing 155 130 $263,839
Home Improvement 102 80 $63,235
Cash-out Refinancing 26 16 $269,615

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 724 78.2% 10.8%
Asian 13 69.2% 23.1%
Joint 7 100.0% 0.0%
Black or African American 6 83.3% 0.0%
American Indian or Alaska Native 2 50.0% 50.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 650 78.3% 10.8%
Hispanic or Latino 88 79.5% 13.6%
Joint 2 100.0% 0.0%

Nearby Lenders in IA

Other HMDA-reporting lenders in IA with similar activity. Compare any two side-by-side.

GREENSTATE CREDIT UNION

NORTH LIBERTY, IA

18,672 apps 12,784 originated 11.1% denied

VERIDIAN CREDIT UNION

WATERLOO, IA

11,053 apps 7,554 originated 12.1% denied

IOWA BANKERS MORTGAGE CORPORATION

JOHNSTON, IA

5,751 apps 2,402 originated 7.6% denied

DUPACO COMMUNITY CREDIT UNION

DUBUQUE, IA

3,587 apps 2,580 originated 19.3% denied

HILLS BANK AND TRUST COMPANY

HILLS, IA

2,597 apps 2,128 originated 7.0% denied
Compare Bank Iowa vs GREENSTATE CREDIT UNION →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Bank Iowa process?
Bank Iowa processed 867 mortgage applications in the 2023 HMDA reporting year. Of these, 689 were originated (approved and funded), 64 were withdrawn by the applicant, and 89 were denied.
What is Bank Iowa's mortgage approval rate?
Bank Iowa has an approval (origination) rate of 79.5%, meaning 79.5% of all applications resulted in a funded mortgage. The denial rate is 10.3%.
What is the average loan amount at Bank Iowa?
The average mortgage loan amount at Bank Iowa is $195,358. The average interest rate is 7.428%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Bank Iowa?
The most common reasons for mortgage denial at Bank Iowa are: Debt-to-income ratio, Credit history, Collateral. In total, 89 applications were denied out of 867 total applications.
What types of mortgage loans does Bank Iowa offer?
Bank Iowa processes Conventional, USDA loans. The most common type is Conventional with 836 applications and an average loan amount of $198,373.
What loan purposes does Bank Iowa serve?
Bank Iowa serves the following loan purposes: Home Purchase (407 applications), Other (177 applications), Refinancing (155 applications), Home Improvement (102 applications), Cash-out Refinancing (26 applications). Home Purchase is the most common purpose.
Where is Bank Iowa located?
Bank Iowa is headquartered in West Des Moines, IA. The lender is identified by LEI 549300NDNZ6EWP8BJI88 in HMDA data.
How does Bank Iowa compare in lending across racial demographics?
Bank Iowa reports demographic lending data under HMDA requirements. White applicants have an approval rate of 78.2% and denial rate of 10.8%; Asian applicants have an approval rate of 69.2% and denial rate of 23.1%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.