Fee Schedule - Rates – All Rates and Fees – Lending

Mortgage Rates – Rates – All Rates and Fees – Lending

Veridian is not currently accepting new applications for mortgage refinancing due to an unprecedented number of submissions. We’re working to process this high volume quickly, and we’ll begin taking new applications as soon as we can. Please continue to check back for updates. Thanks for your patience!

The rates below are effective October 19, 2020, for 45-day rate locks for single-family, owner-occupied purchases. 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. Looking for our 10 & Done home equity loan?

30-Year Term

Loan amount Rate APR Payment example
$300,000 2.375% 2.396% $1,165.96
$200,000 2.375% 2.407% $777.31
$100,000 2.500% 2.558% $395.12

15-Year Term

Loan amount Rate APR Payment example
$300,000 2.000% 2.038% $1,930.53
$200,000 2.000% 2.057% $1,287.02
$100,000 2.125% 2.235% $649.28

10 & Done

Loan Type APR as low as* Loyalty APR as low as° Payment*
10-Year Fixed Home Equity 3.24% 2.99% $241

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 3.000% 4.030% $632.41
7 years 3.250% 4.111% $652.81
10 years 3.500% 3.983% $673.57

Other Mortgages

Type Term Rate APR Payment example
Veterans Affairs (VA) Fixed-Rate Mortgage 30 years 2.500% 2.597% $592.68
USDA Rural Development Fixed-Rate Mortgage 30 years 2.500% 3.191% $592.68
Iowa Financing Authority (IFA) Fixed-Rate Mortgage 30 years See IFA website
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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 2.000% 2.794% $643.51
15-Year Fixed Mortgage $300,000 2.250% 2.545% $1,965.25
10-Year ARM (30-year term) $300,000 3.750%^ 4.217% $1,389.35
10-Year ARM (30-year term), 1 discount point $300,000 3.250%^ 4.024% $1,305.62

**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.

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

* APR = Annual Percentage Rate. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval.

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° 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. See Veridian for details.

Payment example is based on a balance of $25,000 and does not include taxes or insurance. Loan must be in first lien position.