Mortgage Lenders and Brokers in Spencer, Iowa
Brian McKay
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iEditorial Disclosure
Editorial DisclosureLender lists come from federal HMDA loan data. Average rates come from our daily monitoring network. Editorial content is independent of any advertiser relationships.
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✓Fact Checked
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Loan Rates Last Updated and Verified: October 7, 2026
Spencer, Iowa mortgage lenders include Northwest BankNorthwest Bank705 Grand Ave, Spencer, IA 51301A+5.0 ★Texas Ratio: 1.69%, US Bank, N.A.US Bank, N.A.126 Grand Ave, Spencer, IA 51301A+5.0 ★Texas Ratio: 2.85%, Central BankCentral Bank2805 N Ankeny Blvd, Ankeny, IA 50023A+5.0 ★Texas Ratio: 2.72%, First Federal Credit UnionFirst Federal Credit Union901 11th St SW Ste 27, Spencer, IA 51301 5500A5.0 ★Texas Ratio: 8.81%, Greenstate Credit UnionGreenstate Credit Union104 8th St SE, Altoona, IA 50009A5.0 ★Texas Ratio: 10.18%, Iowa Bankers Mortgage CorporationIowa Bankers Mortgage CorporationJohnston, IA, Rocket Mortgage, Flanagan State BankFlanagan State BankA4.7 ★Texas Ratio: 2.58%, Mortgage Research Center, and United Wholesale Mortgage. Banks, credit unions and mortgage companies are listed together, with FHA, VA and local options flagged for quick comparison.
Lenders are ranked only by the number of home loans they closed in Spencer, Iowa in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Spencer are listed first, then lenders elsewhere in Iowa, then lenders from other states that closed loans there. Banks and credit unions carry a MonitorBankRates health grade, star rating and Texas Ratio, so you can judge how financially sound they are. Mortgage companies have no deposits to rate, so compare their loan programs, median loan and borrower reviews instead. Compare at least three lenders and ask each for a written loan estimate before you choose.
Mortgage Lenders and Brokers in Spencer, Iowa
Market share is the lender's share of all home loans closed in Spencer, Iowa. Approval share is approvals divided by completed applications. Grade is the MonitorBankRates Health and Safety Grade, available for banks and credit unions only. Average loan is the lender's mean loan amount here.
| Lender | Programs | Loans closed | Market share | Approval share | Average loan | View |
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705 Grand Ave, Spencer, IA 51301 A+5.0 ★Texas Ratio: 1.69% |
Conventional, FHA, VA, USDA, HELOC | 66 +48 HELOCs |
43.7% | 95.8% | $146,666 | View |
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1 office in Spencer 126 Grand Ave, Spencer, IA 51301 A+5.0 ★Texas Ratio: 2.85% |
Conventional, HELOC | 2 +1 HELOCs |
1.3% | 40% | $475,000 | View |
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2805 N Ankeny Blvd, Ankeny, IA 50023 A+5.0 ★Texas Ratio: 2.72% |
Conventional, USDA | 7 | 4.6% | 100% | $150,714 | View |
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901 11th St SW Ste 27, Spencer, IA 51301 5500 A5.0 ★Texas Ratio: 8.81% |
Conventional | 5 | 3.3% | 100% | $87,000 | View |
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104 8th St SE, Altoona, IA 50009 A5.0 ★Texas Ratio: 10.18% |
Conventional | 1 | 0.7% | 100% | $45,000 | View |
Iowa Bankers Mortgage Corporation
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Conventional, VA, USDA | 18 | 11.9% | 85.7% | $162,777 | |
Rocket Mortgage
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Conventional, FHA | 8 | 5.3% | 90% | $113,750 | |
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A4.7 ★Texas Ratio: 2.58% |
Conventional, USDA | 7 | 4.6% | 87.5% | $189,285 | View |
Mortgage Research Center
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Conventional, FHA, VA | 5 | 3.3% | 83.3% | $157,000 | |
United Wholesale Mortgage
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Conventional, FHA | 3 | 2% | 100% | $201,666 | |
First Colony Mortgage Corporat
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USDA | 3 | 2% | 100% | $161,666 | |
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A5.0 ★Texas Ratio: 7.37% |
Conventional | 3 | 2% | 100% | $175,000 | View |
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A5.0 ★Texas Ratio: 7.16% |
VA, USDA | 2 | 1.3% | 100% | $180,000 | View |
Guaranteed Rate, Inc.
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Conventional, VA | 2 | 1.3% | 100% | $195,000 | |
American Financial Network, Inc.
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Conventional, FHA | 2 | 1.3% | 100% | $105,000 | |
Homeowners Financial Group, LLC
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Conventional, FHA | 2 | 1.3% | 100% | $50,000 | |
Towne Mortgage Company
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USDA | 2 | 1.3% | 100% | $185,000 | |
American Financial Resources LLC
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VA | 1 | 0.7% | 100% | $195,000 | |
Servion
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Conventional | 1 | 0.7% | 100% | $265,000 | |
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A+5.0 ★Texas Ratio: 0.00% |
FHA | 1 | 0.7% | 100% | $195,000 | View |
Newrez LLC
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Conventional | 1 | 0.7% | 33.3% | $55,000 | |
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C3.9 ★Texas Ratio: 28.08% |
Conventional | 1 | 0.7% | 100% | $115,000 | View |
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A+5.0 ★Texas Ratio: 2.78% |
Conventional | 1 | 0.7% | 100% | $185,000 | View |
Cardinal Financial Company, Li
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FHA | 1 | 0.7% | 100% | $125,000 | |
Castle & Cooke Mortgage, LLC
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Conventional | 1 | 0.7% | 100% | $185,000 | |
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A+5.0 ★Texas Ratio: 2.20% |
Conventional | 1 | 0.7% | 100% | $105,000 | View |
Nationstar Mortgage
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Conventional | 1 | 0.7% | 100% | $405,000 | |
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A+5.0 ★Texas Ratio: 4.99% |
FHA | 1 | 0.7% | 100% | $265,000 | View |
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C+4.1 ★Texas Ratio: 26.29% |
Conventional | 1 | 0.7% | 100% | $105,000 | View |
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A+5.0 ★Texas Ratio: 0.51% |
Conventional | 1 | 0.7% | 100% | $65,000 | View |
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B4.5 ★Texas Ratio: 20.96% |
HELOC | 0 +2 HELOCs |
0% | n/a | View | |
HomeBridge Financial Services, Inc
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HELOC | 0 +1 HELOCs |
0% | n/a | ||
New American Funding, LLC.
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HELOC | 0 +1 HELOCs |
0% | 0% |
Spencer Mortgage Rate Trends
Daily average mortgage rates for Iowa compared with the national average, updated every evening.
Mortgage Lenders and Mortgage Brokers Near Me in Spencer, Iowa
Looking for mortgage lenders near me or mortgage brokers near me in Spencer? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Spencer in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Spencer, IA
Use these to narrow the list above. Each category shows how many Spencer, IA lenders fit and what that kind of lender is usually best for.
Who Lends in Spencer, IA
Independent mortgage companies closed 35.1 percent of home loans in Spencer, Iowa in 2025, banks 60.9 percent and credit unions 4 percent. Iowa Bankers Mortgage Corporation was the largest mortgage company, Northwest Bank the largest bank and First Federal Credit Union the largest credit union. Among lenders headquartered in Iowa, Northwest Bank led with 66 loans.
How to Read This List
A high approval share with a small median loan usually points to a lender comfortable with first time and FHA borrowers. A large median loan with conventional and jumbo programs points to a move up and jumbo specialist. The health grade says whether a bank or credit union is financially sound; it says nothing about service, which is what the reviews below are for.
Attorneys customarily handle closings in Iowa. State real estate transfer tax of $1.60 per $1,000 of consideration above the first $500, paid by the seller; no mortgage recording tax.
More Iowa Mortgage Lender Pages
Frequently Asked Questions About Mortgage Lenders in Spencer, IA
By home loans closed in 2025, Northwest Bank was the largest mortgage lender in Spencer, Iowa with 66 loans, about 43.7 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Among lenders with meaningful volume in Spencer, Iowa, Northwest Bank approved the highest share of completed applications in 2025 at 95.8 percent, against a 91.3 percent average for all lenders. Approval share reflects the applicants a lender attracts as much as its underwriting, so compare it alongside loan programs and median loan size. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
9 lenders closed FHA loans in Spencer, Iowa in 2025, led by Northwest Bank with 4. 6 lenders closed VA loans, led by Mortgage Research Center, and 7 closed USDA rural loans. Use the FHA and VA filters above the table to see only those lenders; FHA loans allow 3.5 percent down and lower credit scores, VA loans need no down payment for eligible veterans. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Yes. 12 banks and 2 credit unions closed home loans in Spencer, Iowa in 2025, alongside 19 independent mortgage companies and brokers. Banks and credit unions carry a MonitorBankRates health grade. Mortgage companies are not deposit institutions, so they have no health grade; their HMDA figures and borrower reviews stand in. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Lenders are ranked only by the number of home loans they closed in Spencer, Iowa during 2025 as reported under the federal Home Mortgage Disclosure Act. No lender pays to be listed or to rank higher, and reviews do not change the order. Counts cover first and second lien loans on one to four unit homes for purchase, refinance and home improvement; home equity lines are counted separately.
Methodology and Sources
Lender rankings use the loan level records that lenders file under the Home Mortgage Disclosure Act, published by the FFIEC and the Consumer Financial Protection Bureau for the 2025 reporting year. Counts include originated first and subordinate lien loans on one to four unit homes in Spencer, Iowa for purchase, refinance and other purposes; home equity lines of credit are counted separately and reverse mortgages and business purpose loans are excluded. Approval share is originations plus approved but not accepted applications divided by all completed applications (withdrawn and incomplete files are excluded). Lender type comes from the lender's federal regulator and the FFIEC National Information Center. City figures use the Census tracts that make up Spencer. Health grades are MonitorBankRates data and are current as of the date shown. Lenders below the HMDA reporting thresholds do not appear. MonitorBankRates receives no payment for placement on this page. Last updated October 8, 2026.
