Charleston - Mattoon Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Charleston - Mattoon averaged 6.09% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 5.79% and one month ago for the week of 2024-09-05, the average rate was 6.02%.

Charleston - Mattoon's average rate one year ago was 7.26%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.92%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Charleston - Mattoon 30 Year Fixed Rate 2024-10-10 6.09%
Charleston - Mattoon 30 Year Fixed Rate Refi 2024-10-10 6.92%
Charleston - Mattoon 15 Year Fixed Rate 2024-10-10 5.31%
Charleston - Mattoon 15 Year Fixed Rate Refi 2024-10-10 6.01%
Charleston - Mattoon 30 Year FHA 2024-10-10 6.35%
Charleston - Mattoon 30 Year FHA Refi 2024-10-10 6.1%
Charleston - Mattoon 30 Year USDA 2024-10-10 6.08%
Charleston - Mattoon 30 Year USDA Refi 2024-10-10 5.88%
Charleston - Mattoon 30 Year VA 2024-10-10 5.75%
Charleston - Mattoon 30 Year VA Refi 2024-10-10 5.75%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Charleston-Mattoon, IL.

Charleston - Mattoon 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 Charleston-Mattoon, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
First Mid Bank & Trust 72 6.48% $2,189
FLAT BRANCH MORTGAGE, INC. 24 6.88% $3,213
Prairie State Bank and Trust 23 6.28% $1,608
QUICKEN LOANS, LLC 11 6.52% $4,047
First Financial Bank 6 6.98% $3,126
1786 6 6.75% $2,398
GUARANTEED RATE, INC. 6 6.55% $3,394
Morton Community Bank 6 6.52% $2,209
First National Bank of Waterloo 5 6.93% $1,757
Heartland Bank and Trust Company 4 7.26% $4,010
Dieterich Bank 4 6.36% $1,727
JPMorgan Chase Bank 3 7.38% $3,048
Busey Bank 3 6.63% $2,115
ZILLOW HOME LOANS, LLC 3 7.29% $4,275
Fifth Third Bank 3 7.41% $6,384
CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $4,692
AMERITRUST MORTGAGE CORPORATION 2 8.19% $7,056
Bank of America 2 6.31% $2,973
Farm Credit Mid-America, ACA 2 6.50% $4,311
First Farmers Bank and Trust Company 2 7.00% $2,400
FIRST STATE MORTGAGE SERVICES, LLC 2 6.63% $2,811
Flagstar Bank, FSB 2 7.63% $5,306
Midland States Bank 2 6.81% $2,424
Mortgage Research Center, LLC 2 6.56% $5,948
NAVY FEDERAL CREDIT UNION 2 8.06% $2,924
VANDERBILT MORTGAGE AND FINANCE, INC. 2 7.50% $4,482
GSF Mortgage Corporation 1 5.88% $5,745
CITIZENS EQUITY FIRST 1 6.00% $766
Carrollton Bank 1 5.88% $2,130
INB 1 7.75% $2,524
CARDINAL FINANCIAL 1 7.63% $2,897
LAKEVIEW LOAN SERVICING, LLC 1 6.88% $7,774
Marine Bank 1 5.88% $2,667
U.S. Bank 1 7.38% $1,936
AMERISAVE MORTGAGE CORPORATION 1 6.88% $4,774
BAY EQUITY LLC 1 6.63% $3,242
Nations Lending Corporation 1 7.38% $5,826
Wells Fargo Bank 1 7.25% $6,292
North American Savings Bank, F.S.B. 1 6.99% $5,414
Bank of Springfield 1 6.18% $2,173
Arvest Bank 1 6.50% $3,553
ROYAL UNITED MORTGAGE LLC 1 7.00% $6,217
RUOFF MORTGAGE COMPANY, INC. 1 6.38% $2,351
SCOTT CREDIT UNION 1 7.50% $1,913
T2 FINANCIAL LLC 1 6.38% $4,004
The Federal Savings Bank 1 6.88% $4,798
UNION HOME MORTGAGE CORP. 1 8.38% $3,431
First Financial Bank 1 6.75% $2,989
FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.38% $2,380
FCB Banks 1 7.00% $2,147
United Community Bank 1 6.75% $2,077
USAA Federal Savings Bank 1 5.50% $5,645
CMG MORTGAGE, INC. 1 7.88% $3,338

Charleston - Mattoon Average Closing Costs & Other Stats

Charleston-Mattoon, IL's 53 lenders originated 609 loans during 2023. The total origination value was $81,665,000, with an average loan value of $134,097.

Charleston - Mattoon's average closing costs are $3,230.

The top Charleston - Mattoon lender as defined by loan originations is First Mid Bank & Trust, with 72 loans originated. Their average total fees are $2,189, which is $1,023 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Charleston - Mattoon lenders (with over 10 loans originated) are Prairie State Bank and Trust ($1,608), First Mid Bank & Trust ($2,189), FLAT BRANCH MORTGAGE, INC. ($3,213), QUICKEN LOANS, LLC ($4,047) and .

The lowest rate Charleston - Mattoon lenders (with over 10 loans originated) are Prairie State Bank and Trust (6.28%), First Mid Bank & Trust (6.48%), QUICKEN LOANS, LLC (6.52%), FLAT BRANCH MORTGAGE, INC. (6.88%) and .

Charleston-Mattoon, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
First Mid Bank & Trust $14,240,000 $13,265,000 -6.8% 16.2%
First Merchants Bank $7,495,000 n/a 9.2%
FLAT BRANCH MORTGAGE, INC. $2,880,000 $6,380,000 121.5% 7.8%
Iroquois Federal Savings and Loan Association $715,000 $4,700,000 557.3% 5.8%
QUICKEN LOANS, LLC $6,920,000 $4,320,000 -37.6% 5.3%
Mortgage Research Center, LLC $3,790,000 $3,680,000 -2.9% 4.5%
Prairie State Bank and Trust $5,865,000 $3,265,000 -44.3% 4.0%
Morton Community Bank $660,000 $2,140,000 224.2% 2.6%
CROSSCOUNTRY MORTGAGE, LLC $195,000 $1,725,000 784.6% 2.1%
First Financial Bank $1,465,000 $1,355,000 -7.5% 1.7%
TRIAD FINANCIAL SERVICES, INC. $425,000 $1,295,000 204.7% 1.6%
1786 $1,245,000 n/a 1.5%
Fifth Third Bank $515,000 $1,175,000 128.2% 1.4%
Dieterich Bank $3,250,000 $1,135,000 -65.1% 1.4%
Community Mortgage Banc Corporation $975,000 $1,020,000 4.6% 1.2%
Heartland Bank and Trust Company $260,000 $1,010,000 288.5% 1.2%
Old National Bank $155,000 $1,005,000 548.4% 1.2%
NAVY FEDERAL CREDIT UNION $150,000 $845,000 463.3% 1.0%
First National Bank of Waterloo $680,000 $805,000 18.4% 1.0%
GUARANTEED RATE, INC. $2,115,000 $805,000 -61.9% 1.0%
USAA Federal Savings Bank $360,000 $695,000 93.1% 0.9%
The Fisher National Bank $70,000 $665,000 850.0% 0.8%
U.S. Bank $1,620,000 $620,000 -61.7% 0.8%
United Community Bank $335,000 $595,000 77.6% 0.7%
VANDERBILT MORTGAGE AND FINANCE, INC. $35,000 $580,000 1,557.1% 0.7%
Wells Fargo Bank $855,000 $570,000 -33.3% 0.7%
Busey Bank $1,020,000 $565,000 -44.6% 0.7%
The Federal Savings Bank $550,000 n/a 0.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,145,000 $540,000 -52.8% 0.7%
Citizens Bank $770,000 $525,000 -31.8% 0.6%
PENNYMAC LOAN SERVICES, LLC $340,000 $525,000 54.4% 0.6%
Carrington Mortgage Services, LLC $155,000 $520,000 235.5% 0.6%
JPMorgan Chase Bank $1,045,000 $510,000 -51.2% 0.6%
Farm Credit Mid-America, ACA $640,000 $480,000 -25.0% 0.6%
Midland States Bank $1,785,000 $475,000 -73.4% 0.6%
RUOFF MORTGAGE COMPANY, INC. $460,000 n/a 0.6%
GERSHMAN INVESTMENT CORP. $430,000 n/a 0.5%
AMERISAVE MORTGAGE CORPORATION $140,000 $410,000 192.9% 0.5%
Bank of America $215,000 $405,000 88.4% 0.5%
First National Bank of Pana $400,000 n/a 0.5%
UNITED WHOLESALE MORTGAGE, LLC $355,000 $380,000 7.0% 0.5%
Arvest Bank $535,000 $350,000 -34.6% 0.4%
FIRST STATE MORTGAGE SERVICES, LLC $135,000 $350,000 159.3% 0.4%
ON Q FINANCIAL, INC. $345,000 n/a 0.4%
Nations Lending Corporation $330,000 n/a 0.4%
Barrington Bank & Trust Company, N.A. $85,000 $320,000 276.5% 0.4%
BROKER SOLUTIONS, INC. $630,000 $320,000 -49.2% 0.4%
ZILLOW HOME LOANS, LLC $315,000 n/a 0.4%
Flagstar Bank, FSB $130,000 $310,000 138.5% 0.4%
AMERITRUST MORTGAGE CORPORATION $300,000 n/a 0.4%
MOVEMENT MORTGAGE, LLC $315,000 $285,000 -9.5% 0.3%
VILLAGE CAPITAL MORTGAGE $135,000 $285,000 111.1% 0.3%
Prospect Bank $295,000 $275,000 -6.8% 0.3%
The Gifford State Bank $270,000 n/a 0.3%
SUN WEST MORTGAGE COMPANY, INC. $265,000 n/a 0.3%
FCB Banks $260,000 n/a 0.3%
Hickory Point Bank and Trust $285,000 $260,000 -8.8% 0.3%
OPEN MORTGAGE, LLC $670,000 $260,000 -61.2% 0.3%
First Farmers Bank and Trust Company $255,000 n/a 0.3%
NBKC BANK $225,000 n/a 0.3%
The FNB Community Bank $210,000 n/a 0.3%
The Huntington National Bank $415,000 $210,000 -49.4% 0.3%
FREEDOM MORTGAGE CORPORATION $1,300,000 $195,000 -85.0% 0.2%
North American Savings Bank, F.S.B. $195,000 n/a 0.2%
SCOTT CREDIT UNION $190,000 n/a 0.2%
BAY EQUITY LLC $175,000 n/a 0.2%
CARDINAL FINANCIAL $85,000 $175,000 105.9% 0.2%
LAKEVIEW LOAN SERVICING, LLC $190,000 $175,000 -7.9% 0.2%
Third Federal Savings and Loan Association of Cleveland $170,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $280,000 $165,000 -41.1% 0.2%
PNC Bank $165,000 n/a 0.2%
UNION HOME MORTGAGE CORP. $165,000 n/a 0.2%
CITIZENS EQUITY FIRST $360,000 $160,000 -55.6% 0.2%
21ST MORTGAGE CORPORATION $25,000 $155,000 520.0% 0.2%
Equity Prime Mortgage LLC $200,000 $155,000 -22.5% 0.2%
Marine Bank $105,000 $155,000 47.6% 0.2%
NATIONS RELIABLE LENDING, LLC $215,000 $155,000 -27.9% 0.2%
CMG MORTGAGE, INC. $145,000 n/a 0.2%
INB $220,000 $145,000 -34.1% 0.2%
Network Funding, L.P. $225,000 $145,000 -35.6% 0.2%
First State Bank $485,000 $135,000 -72.2% 0.2%
Servion, Inc. $85,000 $135,000 58.8% 0.2%
Neighborhood Loans, Inc. $130,000 n/a 0.2%
Bank of Springfield $135,000 $125,000 -7.4% 0.2%
DECATUR EARTHMOVER CREDIT UNION $125,000 n/a 0.2%
Figure Lending LLC $105,000 $125,000 19.0% 0.2%
FIRST CENTENNIAL MORTGAGE CORPORATION $245,000 $125,000 -49.0% 0.2%
First Federal Savings Bank of Champaign-Urbana $125,000 n/a 0.2%
HealthCare Associates Credit Union $55,000 $125,000 127.3% 0.2%
First Financial Bank $1,465,000 $115,000 -92.2% 0.1%
LIBERTY HOME MORTGAGE CORPORATION $115,000 n/a 0.1%
T2 FINANCIAL LLC $115,000 n/a 0.1%
GSF Mortgage Corporation $105,000 n/a 0.1%
Scott State Bank $1,005,000 $105,000 -89.6% 0.1%
EVANSVILLE TEACHERS $45,000 $100,000 122.2% 0.1%
Carrollton Bank $350,000 $95,000 -72.9% 0.1%
Petefish, Skiles & Co. $1,600,000 $95,000 -94.1% 0.1%
ROYAL UNITED MORTGAGE LLC $345,000 $85,000 -75.4% 0.1%
DELMAR FINANCIAL COMPANY $75,000 n/a 0.1%
First State Bank $485,000 $75,000 -84.5% 0.1%
NEWREZ LLC $300,000 $75,000 -75.0% 0.1%
SPRING EQ, LLC $55,000 $75,000 36.4% 0.1%
TOP FLITE FINANCIAL, INC. $75,000 n/a 0.1%
Discover Bank $65,000 n/a 0.1%
CenterBank $55,000 n/a 0.1%
Southern Bank $45,000 n/a 0.1%
University of Wisconsin Credit Union $35,000 n/a 0.0%
First American Bank $15,000 n/a 0.0%

Charleston - Mattoon's top lender by overall market share is First Mid Bank & Trust, with 16.2% market share. In second place, with 9.2%, is First Merchants Bank, having originated $7,495,000 in loans. In third place, with 7.8%, is FLAT BRANCH MORTGAGE, INC., having originated $6,380,000 in loans. In fourth place, with 5.8%, is Iroquois Federal Savings and Loan Association, having originated $4,700,000 in loans. In fifth place, with 5.3%, is QUICKEN LOANS, LLC, having originated $4,320,000 in loans.

Charleston-Mattoon, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 461 $69,995,000 $151,833
Home Improvement 48 $2,190,000 $45,625
Other 36 $2,400,000 $66,667
Refi 36 $3,820,000 $106,111
Cash Out Refi 28 $3,260,000 $116,429

Charleston - Mattoon's most frequently cited loan purpose was Home Purchase, with 461 originations. The 2nd most popular reason was Home Improvement, with 48 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 221 $30,535,000 $138,167
7-8% 188 $23,060,000 $122,660
5-6% 87 $11,605,000 $133,391
Over 8% 80 $13,630,000 $170,375
<2.5% 3 $45,000 $15,000
4-5% 1 $145,000 $145,000

During 2023, Charleston - Mattoon's most frequently originated rate bucket was 6-7%, with 221 originations.

Loan Sizing (Charleston-Mattoon, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 325 $18,255,000 $56,169
$100k-200k 200 $27,680,000 $138,400
$200k-400k 74 $19,360,000 $261,622
$400k-600k 4 $1,660,000 $415,000
$600k-1000k 4 $2,970,000 $742,500
$Over $1MM 2 $11,740,000 $5,870,000

Charleston - Mattoon's loan sizing saw the bucket of loans from $100,000 or less with 325 originations, totaling $18,255,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 306 $42,930,000 $140,294
60-80% 99 $25,665,000 $259,242
20-40% 45 $2,465,000 $54,778
Under 20% 39 $965,000 $24,744
40-60% 38 $3,830,000 $100,789
Over 100% 6 $1,270,000 $211,667

Charleston - Mattoon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 306 originations, totaling $42,930,000 in origination value.