Metro area · IA
Lenders in Des Moines, IA
71 lenders made 385 multifamily loans in the Des Moines-West Des Moines, IA metro area in 2024 and 2025, $1.3B in all. Midwest Heritage Bank, FSB made the most, with 34. The typical loan was about $700K.
- Evidence
- Multifamily loans placed in the metro area, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 71
- HMDA,
- Multifamily loans, 2024-25
- 385
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $1.34B
- HMDA,
- Typical loan
- $700K
- HMDA,
Cite this
Source: The Lender Report, Lenders in Des Moines, IA, https://lender.report/lenders-in/des-moines-ia/, data as of December 31, 2025.
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This page lists who has made multifamily loans here. Loan Comps shows who has made a loan like yours, with the loans to prove it.
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| Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans |
|---|---|---|---|---|---|---|
| Midwest Heritage Bank, FSB multifamily record | Savings | West Des Moines, IA | 34 | $14.6M | 12 | 22 |
| Raccoon Valley Bank multifamily record | Bank | Perry, IA | 27 | $29.2M | 11 | 16 |
| Luana Savings Bank multifamily record | Bank | Luana, IA | 26 | $52.7M | 12 | 14 |
| First National Bank, Ames, Iowa multifamily record | Bank | Ames, IA | 23 | $32.3M | 14 | 9 |
| Bank Iowa multifamily record | Bank | West Des Moines, IA | 21 | $67.0M | 11 | 10 |
| Central Bank multifamily record | Bank | Storm Lake, IA | 16 | $35.4M | 9 | 7 |
| Community State Bank multifamily record | Bank | Ankeny, IA | 15 | $106M | 11 | 4 |
| Community Choice Credit Union multifamily record | Credit union | Johnston, IA | 14 | $11.4M | 12 | 2 |
| State Savings Bank multifamily record | Bank | West Des Moines, IA | 10 | $12.3M | 4 | 6 |
| City State Bank multifamily record | Bank | Norwalk, IA | 9 | $12.3M | 9 | 0 |
| CV3 Financial Services, LLC multifamily record | Non-bank | El Segundo, CA | 9 | $8.08M | 9 | 0 |
| Greystone Servicing Corporation, Inc. multifamily record | Non-bank | Memphis, TN | 8 | $153M | 7 | 1 |
| Peoples Bank multifamily record | Bank | Clive, IA | 8 | $15.7M | 1 | 7 |
| Earlham Savings Bank multifamily record | Bank | West Des Moines, IA | 8 | $12.1M | 4 | 4 |
| West Bank multifamily record | Bank | West Des Moines, IA | 7 | $50.3M | 2 | 5 |
| County | Loans | Dollars | Lenders |
|---|---|---|---|
| Polk County, IA | 258 | $966M | 57 |
| Dallas County, IA | 73 | $215M | 26 |
| Jasper County, IA | 22 | $8.32M | 11 |
| Warren County, IA | 8 | $44.5M | 7 |
| Madison County, IA | 5 | $440K | 3 |
A county is listed for a year only when the public file holds 5 or more multifamily loans there that year.
| Loan size | Loans |
|---|---|
| Under $1M | 226 |
| $1M to $2.5M | 58 |
| $2.5M to $5M | 36 |
| $5M to $10M | 23 |
| $10M or more | 42 |
- Lenders made 385 multifamily loans totaling $1.3B in Des Moines, IA in 2024 and 2025. HMDA,
- 4 of these loans were made by lenders that have since merged or closed. They are counted in the totals here and appear in no lender's row. HMDA,
- 210 of the loans were made in 2025 and 175 in 2024. HMDA,
- The typical loan in Des Moines, IA was about $700K, with the middle half between $200K and $2.6M. HMDA,
- 226 of the loans were under $1M, and 65 were $5M or more. HMDA,
- Lenders reported a median rate of 6.74% on 165 loans in Des Moines, IA, with the middle half between 6.00% and 7.25%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 70%. HMDA,
- 32% of the loans were refinancings and 59% were purchases. HMDA,
- Banks and savings institutions made 317 of the loans, credit unions 25, and non-banks 39. HMDA,
- The five most active lenders made 34.0% of the loans. HMDA,
- The three most active lenders were Midwest Heritage Bank, FSB with 34, Raccoon Valley Bank with 27, and Luana Savings Bank with 26. HMDA,
- 47 of the 71 lenders are based in Iowa. The rest are based elsewhere, most often in Illinois, Ohio and Wisconsin. HMDA,
- The most common property size was 5 to 24 units, with 234 loans. HMDA,
- 5 counties in the metro area have loans on record, and Polk County, IA has the most, with 258. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the Des Moines, IA metro area
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the metro area, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans there.
- Order
- Largest first by loans recorded in the place, then dollars, then name. Payment is not part of the order.
- As of
- 2025
- Source
- HMDA
- Changelog
- : First published, with the data built on this date.
What we don't know
- Whether any of these lenders is taking new loans today.
- What they charge or require beyond the rate and term that HMDA reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
A metro area or county is named for a year only when the public file holds 5 or more multifamily loans there that year, so a small place is never exposed by a count.
HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date.
Lenders that merged or stopped filing are left out.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.