Charleston - Mattoon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Charleston - Mattoon averaged
6.46%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.49% and
one month ago for the week of 2024-10-03, the
average rate was 5.89%.
Charleston - Mattoon's average rate one year ago was 7.43%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.29%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Charleston - Mattoon 30 Year Fixed Rate | 2024-11-07 | 6.46% |
| Charleston - Mattoon 30 Year Fixed Rate Refi | 2024-11-07 | 7.29% |
| Charleston - Mattoon 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Charleston - Mattoon 15 Year Fixed Rate Refi | 2024-11-07 | 6% |
| Charleston - Mattoon 30 Year FHA | 2024-11-07 | 6.68% |
| Charleston - Mattoon 30 Year FHA Refi | 2024-11-07 | 6.43% |
| Charleston - Mattoon 30 Year USDA | 2024-11-07 | 6.68% |
| Charleston - Mattoon 30 Year USDA Refi | 2024-11-07 | 6.68% |
| Charleston - Mattoon 30 Year VA | 2024-11-07 | 6.24% |
| Charleston - Mattoon 30 Year VA Refi | 2024-11-07 | 6.54% |
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.).
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.