Dixon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Dixon averaged
6.74%
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
6.57% and
one month ago for the week of 2024-10-03, the
average rate was 5.87%.
Dixon's average rate one year ago was 7.71%.
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% |
| Dixon 30 Year Fixed Rate | 2024-11-07 | 6.74% |
| Dixon 30 Year Fixed Rate Refi | 2024-11-07 | 7.29% |
| Dixon 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Dixon 15 Year Fixed Rate Refi | 2024-11-07 | 6.2% |
| Dixon 30 Year FHA | 2024-11-07 | 6.33% |
| Dixon 30 Year FHA Refi | 2024-11-07 | 6.73% |
| Dixon 30 Year USDA | 2024-11-07 | 6.38% |
| Dixon 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Dixon 30 Year VA | 2024-11-07 | 6.34% |
| Dixon 30 Year VA Refi | 2024-11-07 | 6.44% |
Dixon 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 Dixon, 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.).
Dixon Average Closing Costs & Other Stats
Dixon, IL's 55 lenders originated 361
loans during 2023. The total origination value was $49,415,000, with an average loan value of
$136,884.
Dixon's average closing costs are $3,998.
The top Dixon lender as defined by loan originations is ENVOY MORTGAGE, LTD, with
8 loans originated. Their average total fees are
$5,022, which is $1,895
higher than the next largest lender,
Midland States Bank.
The lowest fee Dixon lenders (with over 10 loans originated) are
.
The lowest rate Dixon lenders (with over 10 loans originated) are
.
Dixon, 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 |
|---|---|---|---|---|
| Sauk Valley Bank & Trust Company | $8,285,000 | $6,360,000 | -23.2% | 12.9% |
| Central Bank Illinois | $1,105,000 | $3,100,000 | 180.5% | 6.3% |
| QUICKEN LOANS, LLC | $4,275,000 | $2,700,000 | -36.8% | 5.5% |
| First State Bank | $5,400,000 | $1,925,000 | -64.4% | 3.9% |
| Midland States Bank | $1,740,000 | $1,815,000 | 4.3% | 3.7% |
| Mortgage Research Center, LLC | $2,100,000 | $1,715,000 | -18.3% | 3.5% |
| U.S. Bank | $3,555,000 | $1,625,000 | -54.3% | 3.3% |
| ENVOY MORTGAGE, LTD | $1,340,000 | $1,460,000 | 9.0% | 3.0% |
| JPMorgan Chase Bank | $765,000 | $1,240,000 | 62.1% | 2.5% |
| GUARANTEED RATE, INC. | $1,620,000 | $1,230,000 | -24.1% | 2.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $600,000 | $1,170,000 | 95.0% | 2.4% |
| GREENSTATE CREDIT UNION | $1,165,000 | n/a | 2.4% | |
| The Huntington National Bank | $470,000 | $1,095,000 | 133.0% | 2.2% |
| GUILD MORTGAGE COMPANY | $1,030,000 | n/a | 2.1% | |
| BROKER SOLUTIONS, INC. | $360,000 | $985,000 | 173.6% | 2.0% |
| First National Bank of Omaha | $160,000 | $940,000 | 487.5% | 1.9% |
| COMPEER FINANCIAL, FLCA | $820,000 | n/a | 1.7% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $810,000 | n/a | 1.6% | |
| CALIBER HOME LOANS, INC. | $1,225,000 | $715,000 | -41.6% | 1.4% |
| Ottawa Savings Bank | $700,000 | n/a | 1.4% | |
| UNITED WHOLESALE MORTGAGE, LLC | $1,215,000 | $655,000 | -46.1% | 1.3% |
| Fifth Third Bank | $1,390,000 | $635,000 | -54.3% | 1.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $645,000 | $585,000 | -9.3% | 1.2% |
| Flanagan State Bank | $870,000 | $565,000 | -35.1% | 1.1% |
| Old National Bank | $220,000 | $550,000 | 150.0% | 1.1% |
| PLANET HOME LENDING, LLC | $1,745,000 | $550,000 | -68.5% | 1.1% |
| COMPASS MORTGAGE, INC. | $1,340,000 | $515,000 | -61.6% | 1.0% |
| Wells Fargo Bank | $1,035,000 | $510,000 | -50.7% | 1.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $555,000 | $480,000 | -13.5% | 1.0% |
| Union Savings Bank | $265,000 | $440,000 | 66.0% | 0.9% |
| BMO Harris Bank | $330,000 | $405,000 | 22.7% | 0.8% |
| Deere Employees Credit Union | $400,000 | n/a | 0.8% | |
| Resource Bank, N.A. | $400,000 | n/a | 0.8% | |
| USAA Federal Savings Bank | $460,000 | $385,000 | -16.3% | 0.8% |
| CARDINAL FINANCIAL | $360,000 | n/a | 0.7% | |
| Wintrust Bank, N.A. | $355,000 | n/a | 0.7% | |
| Citizens Bank | $340,000 | n/a | 0.7% | |
| FINANCIAL PLUS | $585,000 | $340,000 | -41.9% | 0.7% |
| ILLINOIS STATE CREDIT UNION | $290,000 | n/a | 0.6% | |
| Plains Commerce Bank | $285,000 | n/a | 0.6% | |
| LOANDEPOT.COM, LLC | $1,600,000 | $280,000 | -82.5% | 0.6% |
| NUMARK CREDIT UNION | $270,000 | n/a | 0.5% | |
| Holcomb Bank | $935,000 | $260,000 | -72.2% | 0.5% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $350,000 | $250,000 | -28.6% | 0.5% |
| Old Second National Bank | $525,000 | $250,000 | -52.4% | 0.5% |
| Johnson Bank | $235,000 | n/a | 0.5% | |
| NEWREZ LLC | $85,000 | $235,000 | 176.5% | 0.5% |
| Stillman Bank | $150,000 | $235,000 | 56.7% | 0.5% |
| INB | $225,000 | n/a | 0.5% | |
| NEXERA HOLDING LLC | $215,000 | n/a | 0.4% | |
| ROYAL UNITED MORTGAGE LLC | $215,000 | n/a | 0.4% | |
| The Federal Savings Bank | $205,000 | n/a | 0.4% | |
| Morton Community Bank | $200,000 | n/a | 0.4% | |
| AmeriHome Mortgage Company, LLC | $195,000 | n/a | 0.4% | |
| Barrington Bank & Trust Company, N.A. | $195,000 | n/a | 0.4% | |
| Byron Bank | $155,000 | $195,000 | 25.8% | 0.4% |
| NexBank | $185,000 | n/a | 0.4% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $175,000 | n/a | 0.4% | |
| FIRST NORTHERN Credit Union | $170,000 | n/a | 0.3% | |
| Neighborhood Loans, Inc. | $335,000 | $170,000 | -49.3% | 0.3% |
| First Horizon Bank | $165,000 | n/a | 0.3% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $165,000 | n/a | 0.3% | |
| ACADEMY MORTGAGE CORPORATION | $110,000 | $160,000 | 45.5% | 0.3% |
| Community Mortgage Banc Corporation | $105,000 | $150,000 | 42.9% | 0.3% |
| BAY EQUITY LLC | $145,000 | n/a | 0.3% | |
| IAA Credit Union | $145,000 | n/a | 0.3% | |
| NAVY FEDERAL CREDIT UNION | $325,000 | $145,000 | -55.4% | 0.3% |
| UNION HOME MORTGAGE CORP. | $205,000 | $145,000 | -29.3% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $135,000 | n/a | 0.3% | |
| EVERETT FINANCIAL, INC. | $125,000 | n/a | 0.3% | |
| GREAT LAKES | $125,000 | n/a | 0.3% | |
| DUPACO COMMUNITY | $120,000 | n/a | 0.2% | |
| CoVantage Credit Union | $115,000 | n/a | 0.2% | |
| The Harvard State Bank | $115,000 | n/a | 0.2% | |
| ZILLOW HOME LOANS, LLC | $155,000 | $115,000 | -25.8% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $240,000 | $95,000 | -60.4% | 0.2% |
| Summit Credit Union | $85,000 | n/a | 0.2% | |
| The First National Bank of Ottawa | $85,000 | n/a | 0.2% | |
| Rock Valley Credit Union | $235,000 | $80,000 | -66.0% | 0.2% |
| Associated Bank | $85,000 | $75,000 | -11.8% | 0.2% |
| PNC Bank | $70,000 | n/a | 0.1% | |
| Blackhawk Bank | $115,000 | $65,000 | -43.5% | 0.1% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $215,000 | $60,000 | -72.1% | 0.1% |
| COMMUNITY STATE BANK | $55,000 | n/a | 0.1% | |
| Cornerstone Credit Union | $55,000 | n/a | 0.1% | |
| Discover Bank | $55,000 | n/a | 0.1% | |
| HealthCare Associates Credit Union | $90,000 | $45,000 | -50.0% | 0.1% |
| CITIZENS EQUITY FIRST | $155,000 | $25,000 | -83.9% | 0.1% |
| Coastal Community Bank | $25,000 | n/a | 0.1% |
Dixon's top lender by overall market share is Sauk Valley Bank & Trust Company, with 12.9% market share. In second place, with 6.3%, is Central Bank Illinois, having originated $3,100,000 in loans. In third place, with 5.5%, is QUICKEN LOANS, LLC, having originated $2,700,000 in loans. In fourth place, with 3.9%, is First State Bank, having originated $1,925,000 in loans. In fifth place, with 3.7%, is Midland States Bank, having originated $1,815,000 in loans.
Dixon, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 238 | $37,770,000 | $158,697 |
| Refi | 51 | $5,605,000 | $109,902 |
| Cash Out Refi | 28 | $3,000,000 | $107,143 |
| Other | 27 | $1,875,000 | $69,444 |
| Home Improvement | 17 | $1,165,000 | $68,529 |
Dixon's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Refi, with 51 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 128 | $20,130,000 | $157,266 |
| 7-8% | 80 | $11,400,000 | $142,500 |
| Over 8% | 39 | $3,635,000 | $93,205 |
| 5-6% | 31 | $4,605,000 | $148,548 |
| <2.5% | 11 | $115,000 | $10,455 |
| 3-4% | 5 | $275,000 | $55,000 |
| 4-5% | 4 | $690,000 | $172,500 |
During 2023, Dixon's most frequently originated rate bucket was 6-7%, with 128 originations.
Loan Sizing (Dixon, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 149 | $21,445,000 | $143,926 |
| $100,000 or less | 147 | $7,775,000 | $52,891 |
| $200k-400k | 57 | $16,075,000 | $282,018 |
| $400k-600k | 7 | $3,425,000 | $489,286 |
| $600k-1000k | 1 | $695,000 | $695,000 |
Dixon's loan sizing saw the bucket of loans from $100k-200k with 149 originations, totaling $21,445,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 141 | $23,165,000 | $164,291 |
| 60-80% | 66 | $10,290,000 | $155,909 |
| 20-40% | 34 | $2,740,000 | $80,588 |
| Under 20% | 29 | $605,000 | $20,862 |
| 40-60% | 26 | $2,830,000 | $108,846 |
| Over 100% | 5 | $1,235,000 | $247,000 |
Dixon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 141 originations, totaling $23,165,000 in origination value.