# Northwest Bank

> **Canonical URL:** https://saferate.com/lenders/northwest-bank-ia


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Northwest Bank is a bank, headquartered in Spencer, IA, serving borrowers across 17 states, with 1,045 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 21% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 28% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300RBJCM5B02O5U05
- **Headquarters:** Spencer, IA
- **Geographic Reach:** Multi-Region
- **States Served:** 17
- **State List:** AZ, CA, CO, FL, IA, ID, IL, KS, MN, MO, MS, NC, NE, NM, SD, TN, TX
- **Markets (MSAs):** 5
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Strong 😀
- Score: 79/100
- Rating: ●●●●○ (4/5)

### Pull Through: Strong 😀
- Score: 72/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** +0.060%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,064
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 1,045
- **Dollar Volume:** $293 million
- **Applications Received:** 1,277
- **Market Share:** 3.00%

## Typical Borrower Profile

- **Average Loan Amount:** $280,818
- **Average Borrower Income:** $148,622
- **Average Property Value:** $377,679

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (78%)
- ⭐ **Purchase Gold Superstar** (78%)
- ⭐ **Refinance Gold Superstar** (64%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 78/100 | 957 | +0.040% | $1,022 | Strong 😀 |
| FHA | 59/100 | 38 | +0.854% | $956 | Sound ☺️ |
| VA | 61/100 | 21 | -0.175% | $1,546 | Strong 😀 |
| Jumbo | 72/100 | 24 | +0.485% | $5,408 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 849 loans, Score: 78/100 (Strong)
- Refinance: 108 loans, Score: 64/100 (Strong)

**FHA:**
- Purchase: 37 loans, Score: 59/100 (Sound)

**VA:**
- Purchase: 20 loans, Score: 61/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 77/100 | 930 | $258M | +0.051% | Strong 😀 |
| Refinance | 63/100 | 115 | $35M | +0.127% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IA | 900 | 2.54% | 87/100 |
| NE | 91 | 0.43% | 67/100 |
| MN | 14 | 0.02% | 42/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 481 | 74/100 |
| Des Moines | IA | 316 | 86/100 |
| Sioux City, IA |  | 89 | 81/100 |
| Omaha, NE | NE-IA | 81 | 68/100 |
| Ames, IA | IA | 39 | 68/100 |

## Where This Lender Ranks

Northwest Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Iowa for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Iowa for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks/jumbo-loans)
- 🥇 **#1** in Des Moines for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/banks/conventional-loans)
- 🥇 **#1** in Des Moines for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Des Moines for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/banks/jumbo-loans)
- 🥈 **#2** in Iowa for Jumbo Loans
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/jumbo-loans)
- 🥈 **#2** in Iowa for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks/usda-loans)
- 🥈 **#2** in Des Moines for Jumbo Loans
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/jumbo-loans)
- 🥈 **#2** in Sioux City, IA Banks
  - [View Full Rankings](https://saferate.com/sioux-city-ia/best-mortgage-lenders/banks)
- 🥈 **#2** in Sioux City, IA for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-city-ia/best-mortgage-lenders/banks/conventional-loans)
- 🥈 **#2** in Ames, IA Banks
  - [View Full Rankings](https://saferate.com/ames-ia/best-mortgage-lenders/banks)
- 🥈 **#2** in Ames, IA for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/ames-ia/best-mortgage-lenders/banks/conventional-loans)
- 🥉 **#3** in Iowa for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks/conventional-loans)
- 🥉 **#3** in Des Moines Banks
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/banks)
- 🥉 **#3** in Sioux City, IA
  - [View Full Rankings](https://saferate.com/sioux-city-ia/best-mortgage-lenders)
- 🥉 **#3** in Sioux City, IA for Conventional Loans
  - [View Full Rankings](https://saferate.com/sioux-city-ia/best-mortgage-lenders/conventional-loans)
- 🏆 **#5** in Iowa Banks
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks)
- 🏆 **#5** in Des Moines for Conventional Loans
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/conventional-loans)
- 🏆 **#5** in Sioux City, IA for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-city-ia/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#6** in Des Moines for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/des-moines/best-mortgage-lenders/banks/fha-loans)

## Frequently Asked Questions

### What loan types does Northwest Bank offer?

Northwest Bank offers the following mortgage loan types: FHA, Conventional, VA, Jumbo. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Northwest Bank offer mortgages?

Northwest Bank offers mortgages in 17 states: AZ, CA, CO, FL, IA, ID, IL, KS, MN, MO, MS, NC, NE, NM, SD, TN, TX.

### How competitive are Northwest Bank's mortgage rates?

Northwest Bank has a pricing score of 79/100 (Strong), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.060% above market average.

### What type of lender is Northwest Bank?

Northwest Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Spencer, IA.

### What is Northwest Bank's loan approval success rate?

Northwest Bank has a pull-through score of 72/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/northwest-bank-ia

### How to Cite

> "Northwest Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/northwest-bank-ia

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