Mortgage Rates

The rates below are effective December 5, 2022, for single-family, owner-occupied purchases or rate/term refinances with escrows. Other term lengths are available for certain loan types. 

Fixed-Rate Mortgages

These mortgages have a stable interest rate for the life of the loan. Mortgage rates lock for 30 days for purchases and 60 days for refinances.

Purchase, 30-Year Term

Loan amount Rate APR Payment example
$300,000 5.875% 5.896% $1,774.61
$200,000 5.875% 5.907% $1,183.08
$100,000 5.750% 5.814% $583.57

Purchase, 15-Year Term

Loan amount Rate APR Payment example
$300,000 5.250% 5.292% $2,411.63
$200,000 5.375% 5.432% $1,620.93
$100,000 5.500% 5.618% $817.08

Refinance, 30-Year Term

Loan amount Rate APR Payment example
$300,000 5.875% 5.917% $1,774.61
$200,000 5.875% 5.907% $1,183.08
$100,000 5.750% 5.814% $583.57

Refinance, 15-Year Term

Loan amount Rate APR Payment example
$300,000 5.250% 5.292% $2,411.63
$200,000 5.500% 5.557% $1,634.17
$100,000 5.625% 5.743% $823.73

Adjustable-Rate Mortgages

These mortgages have an initial period with a fixed rate, then a variable rate that can increase or decrease annually for the rest of the 30-year term.

Fixed term Rate^ APR Payment example
5 years 5.875% 6.321% $887.31
7 years 6.000% 5.936% $899.33
10 years 6.125% 6.030% $911.42

Other Mortgages

Type Term Rate APR Payment example
Veterans Affairs (VA) Fixed-Rate Mortgage 30 years 5.375% 5.530% $839.96
Iowa Financing Authority (IFA) Fixed-Rate Mortgage 30 years See IFA website -- --

Construction and Lot Loans

These mortgages feature a one-time closing, and construction loans have the same interest rate during the construction draw and permanent financing.

Type Loan amount Rate APR Payment example
1-Year Lot Loan Balloon (15-year term)** $100,000 5.375% 6.193% $810.47
15-Year Fixed Mortgage $300,000 5.625% 5.859% $2,471.20
10-Year ARM (30-year term) $300,000 6.375%^ 6.521% $1,871.61
10-Year ARM (30-year term), 1 discount point $300,000 5.875%^ 6.371% $1,774.61

**A 3-year lot loan balloon is also available.

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APR = Annual Percentage Rate. Rates based on 740 credit score, 75% loan to value and, unless otherwise noted, a loan amount of $150,000 and no discount points. Lower interest rates available by paying discount points. Rates can vary for other loan amounts and are subject to change without notice. Rates and APRs shown for properties in Iowa. Veridian is not responsible for typographical errors or omissions. Payment examples do not include taxes and insurance; if applicable, payment will be higher. All Veridian mortgages have no origination fee. Other loan terms may be available. Veridian NMLS ID# 531586.

* Loan must be in first lien position. Loan-to-value ratio must not exceed 80%. Payment example is based on a balance of $25,000 and does not include taxes or insurance. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. 10 & Done loans only available in Iowa and Nebraska. All loans subject to membership and approval. See Veridian for details.

° Includes Loyalty Program discount of 0.25% APR when enrolled in eDocs and while maintaining direct deposit of net income to Veridian or, if unavailable, a minimum of 10 qualifying checking account transactions per month. Borrowers will lose discount if they fail to meet Loyalty Program qualifications during loan term.

^ARM rates are calculated by adding a margin, 2.75%, to an index, the 1-year Treasury rate. The minimum rate is 2.75%. Rates can increase or decrease no more than 2% each year and 6% total.


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