Burlington Mortgage Rates & Closing Costs

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  • Trends
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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Burlington averaged 6.65% for the week of 2023-03-16, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2023-03-09) was 6.78% and one month ago for the week of 2023-02-09, the average rate was 6.37%.

    Burlington's average rate one year ago was 3.2%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.79%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Burlington 30 Year Fixed Rate 2023-03-16 6.65%
    Burlington 30 Year Fixed Rate Refi 2023-03-16 6.79%
    Burlington 15 Year Fixed Rate 2023-03-16 6.11%
    Burlington 15 Year Fixed Rate Refi 2023-03-16 6.45%
    Burlington 30 Year FHA 2023-03-16 6.23%
    Burlington 30 Year FHA Refi 2023-03-16 6.07%
    Burlington 30 Year USDA 2023-03-16 6.09%
    Burlington 30 Year VA 2023-03-16 6.12%
    Burlington 30 Year VA Refi 2023-03-16 6.15%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Burlington, IA-IL.

    Burlington Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Burlington, IA-IL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    IOWA BANKERS MORTGAGE CORPORATION 53 4.45% $2,110
    Plains Commerce Bank 24 5.11% $2,136
    QUICKEN LOANS, LLC 19 4.67% $5,209
    U.S. Bank 19 4.46% $2,503
    GREENSTATE CREDIT UNION 17 4.26% $2,048
    RUHL MORTGAGE, LLC 16 4.96% $1,969
    Wells Fargo Bank 5 5.03% $632
    I. H. MISSISSIPPI VALLEY CREDIT UNION 5 3.48% $1,414
    First Interstate Bank 4 5.91% $2,055
    MidWestOne Bank 4 5.53% $2,861
    LOANDEPOT.COM, LLC 4 4.78% $4,825
    COMMUNITY 1ST CREDIT UNION 3 5.13% $2,261
    BNC National Bank 3 5.29% $3,770
    ROYAL UNITED MORTGAGE LLC 3 5.67% $5,476
    DRAPER AND KRAMER MORTGAGE CORP. 2 4.13% $3,537
    Flagstar Bank, FSB 2 3.38% $3,143
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 5.25% $5,887
    AMERISAVE MORTGAGE CORPORATION 2 4.19% $4,950
    Mortgage Research Center, LLC 1 5.50% $5,087
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $4,157
    PHH Mortgage Corporation 1 7.13% $3,787
    SENB Bank 1 4.63% $2,494
    SIRVA MORTGAGE, INC. 1 5.63% $0
    SOUTHWEST FUNDING, LP 1 6.63% $8,326
    THE FAMILY CREDIT UNION 1 4.75% $2,817
    USAA Federal Savings Bank 1 6.00% $3,656
    VERIDIAN CREDIT UNION 1 3.50% $1,793
    Waterstone Mortgage Corporation 1 5.25% $5,901
    WINGS FINANCIAL 1 3.75% $2,340
    BROKER SOLUTIONS, INC. 1 4.75% $5,064
    Carrington Mortgage Services, LLC 1 3.50% $3,843
    CBI Bank & Trust 1 3.88% $2,404
    Collins Community Credit Union 1 2.99% $1,573
    Community Mortgage Banc Corporation 1 4.80% $2,278
    COMPASS MORTGAGE, INC. 1 5.25% $2,277
    CROSSCOUNTRY MORTGAGE, LLC 1 4.75% $3,534
    DUPACO COMMUNITY 1 4.75% $2,296
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.50% $3,945
    FIRST 1 2.63% $2,137
    Fortress Bank 1 4.75% $1,581
    FREEDOM MORTGAGE CORPORATION 1 5.25% $5,717
    GERSHMAN INVESTMENT CORP. 1 6.13% $3,847
    INB 1 6.50% $2,887
    INLAND BANK & TRUST 1 6.38% $2,608
    INLANTA MORTGAGE, INC. 1 3.75% $5,001
    LAKEVIEW LOAN SERVICING, LLC 1 4.99% $5,949

    Burlington Average Closing Costs & Other Stats

    Burlington, IA-IL's 46 lenders originated 737 loans during 2022. The total origination value was $101,875,000, with an average loan value of $138,229.

    Burlington's average closing costs are $3,114.

    The top Burlington lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with 53 loans originated. Their average total fees are $2,110, which is $26 lower than the next largest lender, Plains Commerce Bank.

    The lowest fee Burlington lenders (with over 10 loans originated) are RUHL MORTGAGE, LLC ($1,969), GREENSTATE CREDIT UNION ($2,048), IOWA BANKERS MORTGAGE CORPORATION ($2,110), Plains Commerce Bank ($2,136) and U.S. Bank ($2,503).

    The lowest rate Burlington lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (4.26%), IOWA BANKERS MORTGAGE CORPORATION (4.45%), U.S. Bank (4.46%), QUICKEN LOANS, LLC (4.67%) and RUHL MORTGAGE, LLC (4.96%).

    Burlington, IA-IL Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Two Rivers Bank & Trust $21,165,000 $35,340,000 67.0% 34.7%
    IOWA BANKERS MORTGAGE CORPORATION $23,880,000 $10,750,000 -55.0% 10.6%
    QUICKEN LOANS, LLC $9,730,000 $6,275,000 -35.5% 6.2%
    Plains Commerce Bank $10,290,000 $5,520,000 -46.4% 5.4%
    U.S. Bank $9,015,000 $5,115,000 -43.3% 5.0%
    GREENSTATE CREDIT UNION $5,150,000 $3,715,000 -27.9% 3.6%
    Royal Business Bank $2,815,000 n/a 2.8%
    RUHL MORTGAGE, LLC $475,000 $2,650,000 457.9% 2.6%
    Mortgage Research Center, LLC $3,345,000 $2,570,000 -23.2% 2.5%
    MidWestOne Bank $8,015,000 $1,800,000 -77.5% 1.8%
    Midwest Bank $2,995,000 $1,600,000 -46.6% 1.6%
    First Interstate Bank $1,280,000 n/a 1.3%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $1,840,000 $1,050,000 -42.9% 1.0%
    First Bankers Trust Company $85,000 $885,000 941.2% 0.9%
    LOANDEPOT.COM, LLC $1,020,000 $855,000 -16.2% 0.8%
    Mr. Cooper ( Nationstar Mortgage ) $800,000 $850,000 6.3% 0.8%
    ALLIANT $1,265,000 $770,000 -39.1% 0.8%
    AMERICAN PACIFIC MORTGAGE CORPORATION $1,440,000 $650,000 -54.9% 0.6%
    Wells Fargo Bank $3,385,000 $650,000 -80.8% 0.6%
    AMERISAVE MORTGAGE CORPORATION $570,000 $635,000 11.4% 0.6%
    NEW DAY FINANCIAL, LLC $600,000 n/a 0.6%
    CBI Bank & Trust $625,000 $580,000 -7.2% 0.6%
    Flagstar Bank, FSB $165,000 $530,000 221.2% 0.5%
    FREEDOM MORTGAGE CORPORATION $1,725,000 $470,000 -72.8% 0.5%
    BROKER SOLUTIONS, INC. $695,000 $465,000 -33.1% 0.5%
    COMMUNITY 1ST CREDIT UNION $345,000 $460,000 33.3% 0.5%
    Fortress Bank $1,235,000 $445,000 -64.0% 0.4%
    ROYAL UNITED MORTGAGE LLC $555,000 $425,000 -23.4% 0.4%
    BNC National Bank $1,170,000 $415,000 -64.5% 0.4%
    Carrington Mortgage Services, LLC $115,000 $410,000 256.5% 0.4%
    DUPACO COMMUNITY $400,000 n/a 0.4%
    HOME POINT FINANCIAL CORPORATION $135,000 $400,000 196.3% 0.4%
    Bankers Trust Company $395,000 n/a 0.4%
    VERIDIAN CREDIT UNION $920,000 $395,000 -57.1% 0.4%
    The Huntington National Bank $355,000 n/a 0.3%
    Bank of England $335,000 n/a 0.3%
    GERSHMAN INVESTMENT CORP. $325,000 n/a 0.3%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $720,000 $315,000 -56.3% 0.3%
    INLANTA MORTGAGE, INC. $315,000 n/a 0.3%
    PENNYMAC LOAN SERVICES, LLC $610,000 $305,000 -50.0% 0.3%
    DRAPER AND KRAMER MORTGAGE CORP. $300,000 n/a 0.3%
    Collins Community Credit Union $275,000 $280,000 1.8% 0.3%
    Waterstone Mortgage Corporation $480,000 $280,000 -41.7% 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $260,000 n/a 0.3%
    NAVY FEDERAL CREDIT UNION $425,000 $260,000 -38.8% 0.3%
    SIRVA MORTGAGE, INC. $260,000 n/a 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $540,000 $250,000 -53.7% 0.2%
    THE FAMILY CREDIT UNION $245,000 n/a 0.2%
    PHH Mortgage Corporation $95,000 $230,000 142.1% 0.2%
    Barrington Bank & Trust Company, N.A. $230,000 $205,000 -10.9% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $155,000 $190,000 22.6% 0.2%
    Union Federal Savings and Loan Association $190,000 n/a 0.2%
    HOMESERVICES LENDING, LLC $185,000 n/a 0.2%
    GUILD MORTGAGE COMPANY $855,000 $175,000 -79.5% 0.2%
    NEWREZ LLC $630,000 $175,000 -72.2% 0.2%
    SPRING EQ, LLC $175,000 n/a 0.2%
    COMPASS MORTGAGE, INC. $155,000 $170,000 9.7% 0.2%
    WINGS FINANCIAL $170,000 n/a 0.2%
    Illinois State Police Federal Credit Union $165,000 n/a 0.2%
    SOUTHWEST FUNDING, LP $185,000 $165,000 -10.8% 0.2%
    INLAND BANK & TRUST $155,000 n/a 0.2%
    United Community Bank $165,000 $150,000 -9.1% 0.1%
    AMERICAN FINANCING CORPORATION $245,000 $145,000 -40.8% 0.1%
    First International Bank & Trust $580,000 $145,000 -75.0% 0.1%
    INB $135,000 n/a 0.1%
    RESIDENTIAL MORTGAGE NETWORK, INC. $275,000 $135,000 -50.9% 0.1%
    Chicago Mortgage Solutions LLC $125,000 n/a 0.1%
    LAND HOME FINANCIAL SERVICES, INC. $165,000 $125,000 -24.2% 0.1%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $165,000 $125,000 -24.2% 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $205,000 $115,000 -43.9% 0.1%
    Luana Savings Bank $120,000 $110,000 -8.3% 0.1%
    MARINE $200,000 $110,000 -45.0% 0.1%
    Sauk Valley Bank & Trust Company $105,000 n/a 0.1%
    Simmons Bank $105,000 n/a 0.1%
    Baxter Credit Union $195,000 $100,000 -48.7% 0.1%
    Chickasaw Community Bank $95,000 n/a 0.1%
    Deere Employees Credit Union $95,000 n/a 0.1%
    FIRST $95,000 n/a 0.1%
    CALIBER HOME LOANS, INC. $125,000 $85,000 -32.0% 0.1%
    Flanagan State Bank $55,000 $85,000 54.5% 0.1%
    MidAmerica National Bank $85,000 n/a 0.1%
    Bank of America $320,000 $75,000 -76.6% 0.1%
    VILLAGE CAPITAL MORTGAGE $75,000 $75,000 0.0% 0.1%
    Arvest Bank $65,000 n/a 0.1%
    LIBERTY HOME MORTGAGE CORPORATION $65,000 n/a 0.1%
    Morton Community Bank $90,000 $65,000 -27.8% 0.1%
    SENB Bank $65,000 n/a 0.1%
    Community Mortgage Banc Corporation $245,000 $60,000 -75.5% 0.1%
    JPMorgan Chase Bank $830,000 $55,000 -93.4% 0.1%
    USAA Federal Savings Bank $175,000 $55,000 -68.6% 0.1%
    Citizens Bank $45,000 n/a 0.0%
    First Mid Bank & Trust $45,000 n/a 0.0%
    Community Choice Credit Union $35,000 n/a 0.0%
    Midwest Heritage Bank FSB $25,000 n/a 0.0%

    Burlington's top lender by overall market share is Two Rivers Bank & Trust, with 34.7% market share. In second place, with 10.6%, is IOWA BANKERS MORTGAGE CORPORATION, having originated $10,750,000 in loans. In third place, with 6.2%, is QUICKEN LOANS, LLC, having originated $6,275,000 in loans. In fourth place, with 5.4%, is Plains Commerce Bank, having originated $5,520,000 in loans. In fifth place, with 5.0%, is U.S. Bank, having originated $5,115,000 in loans.

    Burlington Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $109,450 (-17.4%) $146,841 (-16.8%) 0.00 250
    2018-02-01 $116,125 (-10.6%) $153,291 (-13.5%) 0.00 231
    2018-03-01 $119,500 (-5.4%) $154,531 (-7.5%) 0.00 236
    2018-04-01 $119,000 (-8.4%) $154,465 (-8.0%) 0.00 241
    2018-05-01 $117,500 (-6.0%) $154,546 (-8.2%) 0.00 252
    2018-06-01 $119,000 (-1.4%) $159,485 (-3.8%) 0.00 259
    2018-07-01 $118,900 (-0.1%) $163,325 (-0.4%) 0.00 274
    2018-08-01 $115,000 (1.1%) $160,939 (-0.5%) 0.00 270
    2018-09-01 $109,900 (-4.0%) $156,231 (-0.1%) 0.00 282
    2018-10-01 $113,088 (-1.6%) $158,370 (1.5%) 0.00 294
    2018-11-01 $115,000 (-3.9%) $156,361 (-3.3%) 0.00 303
    2018-12-01 $115,000 (4.6%) $160,548 (3.9%) 0.00 295
    2019-01-01 $117,450 (7.3%) $161,596 (10.1%) 0.00 269
    2019-02-01 $119,900 (3.3%) $165,938 (8.3%) 0.00 263
    2019-03-01 $118,686 (-0.7%) $165,674 (7.2%) 0.00 255
    2019-04-01 $117,161 (-1.6%) $167,127 (8.2%) 0.00 252
    2019-05-01 $119,900 (2.0%) $165,439 (7.1%) 0.00 255
    2019-06-01 $119,900 (0.8%) $165,930 (4.0%) 0.00 252
    2019-07-01 $125,125 (5.2%) $164,647 (0.8%) 0.00 259
    2019-08-01 $125,455 (9.1%) $159,265 (-1.0%) 0.00 272
    2019-09-01 $125,761 (14.4%) $159,367 (2.0%) 0.00 287
    2019-10-01 $127,950 (13.1%) $159,329 (0.6%) 0.00 293
    2019-11-01 $129,900 (13.0%) $156,345 (0.0%) 0.00 282
    2019-12-01 $129,900 (13.0%) $157,430 (-1.9%) 0.00 277
    2020-01-01 $122,450 (4.3%) $157,963 (-2.3%) 0.00 290
    2020-02-01 $119,900 (0.0%) $155,040 (-6.6%) 0.00 288
    2020-03-01 $119,950 (1.1%) $158,846 (-4.1%) 0.00 299
    2020-04-01 $124,900 (6.6%) $160,178 (-4.2%) 0.00 286
    2020-05-01 $125,900 (5.0%) $165,034 (-0.2%) 0.00 265
    2020-06-01 $133,950 (11.7%) $171,841 (3.6%) 0.00 263
    2020-07-01 $136,950 (9.5%) $175,261 (6.5%) 0.00 279
    2020-08-01 $137,500 (9.6%) $175,653 (10.3%) 0.00 280
    2020-09-01 $129,900 (3.3%) $172,106 (8.0%) 0.00 267
    2020-10-01 $129,900 (1.5%) $167,314 (5.0%) 0.00 260
    2020-11-01 $125,875 (-3.1%) $166,536 (6.5%) 0.00 248
    2020-12-01 $122,200 (-5.9%) $164,770 (4.7%) 0.00 224
    2021-01-01 $110,500 (-9.8%) $153,496 (-2.8%) 0.00 199
    2021-02-01 $108,450 (-9.6%) $152,009 (-2.0%) 0.00 173
    2021-03-01 $115,925 (-3.4%) $159,547 (0.4%) 0.00 170
    2021-04-01 $122,925 (-1.6%) $160,005 (-0.1%) 0.00 171
    2021-05-01 $139,900 (11.1%) $167,560 (1.5%) 0.00 165
    2021-06-01 $136,925 (2.2%) $167,936 (-2.3%) 0.00 169
    2021-07-01 $139,950 (2.2%) $169,371 (-3.4%) 0.00 164
    2021-08-01 $134,900 (-1.9%) $161,265 (-8.2%) 0.00 163
    2021-09-01 $132,675 (2.1%) $155,465 (-9.7%) 0.00 166
    2021-10-01 $122,900 (-5.4%) $147,449 (-11.9%) 0.00 183
    2021-11-01 $124,900 (-0.8%) $152,145 (-8.6%) 0.00 165
    2021-12-01 $130,050 (6.4%) $152,130 (-7.7%) 0.00 124
    2022-01-01 $138,400 (25.3%) $152,262 (-0.8%) 0.00 121
    2022-02-01 $127,500 (17.6%) $153,042 (0.7%) 0.00 112
    2022-03-01 $133,675 (15.3%) $153,352 (-3.9%) 0.00 93
    2022-04-01 $135,000 (9.8%) $157,131 (-1.8%) 0.00 77
    2022-05-01 $137,000 (-2.1%) $151,736 (-9.4%) 0.00 88
    2022-06-01 $140,000 (2.3%) $154,914 (-7.8%) 0.00 111
    2022-07-01 $139,950 (0.0%) $158,465 (-6.4%) 0.00 123
    2022-08-01 $139,500 (3.4%) $168,210 (4.3%) 0.00 100
    2022-09-01 $150,000 (13.1%) $175,917 (13.2%) 0.00 99
    2022-10-01 $158,950 (29.3%) $187,337 (27.1%) 0.00 97
    2022-11-01 $146,450 (17.3%) $169,351 (11.3%) 0.00 115
    2022-12-01 $149,000 (14.6%) $168,357 (10.7%) 0.00 107
    2023-01-01 $157,900 (14.1%) $170,426 (11.9%) 0.00 94
    2023-02-01 $151,175 (18.6%) $165,714 (8.3%) 0.00 81
    Burlington's median listing price for 2023-02-01 was $151,175, a difference of $23,675 (18.6%) versus the prior year and $-6,725 versus the prior month.

    Burlington's median listing price comes in at 0% of the national average.

    Burlington's average listing price for 2023-02-01 was $165,714, a difference of $12,672 (8.3%) versus the prior year and $-4,712 versus the prior month.

    For the 2023-02-01 period, Burlington had 81 MLS listings, a difference of -13 listings (-14%) versus the prior month and -31 listings (-28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,484 sqft
    2018-02-01 0 days 1,513 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 1,523 sqft
    2018-05-01 0 days 1,548 sqft
    2018-06-01 0 days 1,600 sqft
    2018-07-01 0 days 1,594 sqft
    2018-08-01 0 days 1,561 sqft
    2018-09-01 0 days 1,536 sqft
    2018-10-01 0 days 1,527 sqft
    2018-11-01 0 days 1,536 sqft
    2018-12-01 0 days 1,500 sqft
    2019-01-01 0 days 1,467 sqft
    2019-02-01 0 days 1,487 sqft
    2019-03-01 0 days 1,481 sqft
    2019-04-01 0 days 1,505 sqft
    2019-05-01 0 days 1,553 sqft
    2019-06-01 0 days 1,599 sqft
    2019-07-01 0 days 1,592 sqft
    2019-08-01 0 days 1,587 sqft
    2019-09-01 0 days 1,589 sqft
    2019-10-01 0 days 1,594 sqft
    2019-11-01 0 days 1,574 sqft
    2019-12-01 0 days 1,500 sqft
    2020-01-01 0 days 1,673 sqft
    2020-02-01 0 days 1,473 sqft
    2020-03-01 0 days 1,473 sqft
    2020-04-01 0 days 1,487 sqft
    2020-05-01 0 days 1,500 sqft
    2020-06-01 0 days 1,559 sqft
    2020-07-01 0 days 1,573 sqft
    2020-08-01 0 days 1,590 sqft
    2020-09-01 0 days 1,593 sqft
    2020-10-01 0 days 1,579 sqft
    2020-11-01 0 days 1,578 sqft
    2020-12-01 0 days 1,491 sqft
    2021-01-01 0 days 1,482 sqft
    2021-02-01 0 days 1,484 sqft
    2021-03-01 0 days 1,500 sqft
    2021-04-01 0 days 1,500 sqft
    2021-05-01 0 days 1,497 sqft
    2021-06-01 0 days 1,487 sqft
    2021-07-01 0 days 1,460 sqft
    2021-08-01 0 days 1,391 sqft
    2021-09-01 0 days 1,426 sqft
    2021-10-01 0 days 1,406 sqft
    2021-11-01 0 days 1,388 sqft
    2021-12-01 0 days 1,395 sqft
    2022-01-01 0 days 1,393 sqft
    2022-02-01 0 days 1,450 sqft
    2022-03-01 0 days 1,460 sqft
    2022-04-01 0 days 1,440 sqft
    2022-05-01 0 days 1,360 sqft
    2022-06-01 0 days 1,336 sqft
    2022-07-01 0 days 1,341 sqft
    2022-08-01 0 days 1,434 sqft
    2022-09-01 0 days 1,452 sqft
    2022-10-01 0 days 1,470 sqft
    2022-11-01 0 days 1,448 sqft
    2022-12-01 0 days 1,486 sqft
    2023-01-01 0 days 1,539 sqft
    2023-02-01 0 days 1,524 sqft
    Burlington's median listing age (time on market) for 2023-02-01 was 0 days.

    Burlington's median square footage for active listings during the 2023-02-01 period was 1,524 sqft. One year prior, the average listing was 1,450 sqft.

    Burlington, IA-IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 434 $73,290,000 $168,871
    Refi 127 $14,625,000 $115,157
    Cash Out Refi 87 $10,105,000 $116,149
    Home Improvement 59 $2,045,000 $34,661
    Other 30 $1,810,000 $60,333

    Burlington's most frequently cited loan purpose was Home Purchase, with 434 originations. The 2nd most popular reason was Refi, with 127 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 136 $17,150,000 $126,103
    5-6% 131 $18,245,000 $139,275
    4-5% 119 $13,785,000 $115,840
    6-7% 47 $4,855,000 $103,298
    2.5-3% 40 $5,900,000 $147,500
    <2.5% 19 $2,015,000 $106,053
    7-8% 16 $1,610,000 $100,625
    Over 8% 5 $225,000 $45,000

    During 2022, Burlington's most frequently originated rate bucket was 3-4%, with 136 originations.

    Loan Sizing (Burlington, IA-IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 387 $22,435,000 $57,972
    $100k-200k 256 $36,430,000 $142,305
    $200k-400k 71 $17,925,000 $252,465
    $400k-600k 17 $7,935,000 $466,765
    $600k-1000k 3 $2,395,000 $798,333
    $Over $1MM 3 $14,755,000 $4,918,333

    Burlington's loan sizing saw the bucket of loans from $100,000 or less with 387 originations, totaling $22,435,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 299 $41,035,000 $137,241
    60-80% 106 $15,220,000 $143,585
    40-60% 38 $4,210,000 $110,789
    20-40% 37 $2,015,000 $54,459
    Under 20% 30 $740,000 $24,667
    Over 100% 2 $520,000 $260,000

    Burlington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 299 originations, totaling $41,035,000 in origination value.