Effingham Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Effingham averaged 6.68% for the week of 2024-04-11, compared to the national average of 6.88% for the same period.

The average rate for the prior week (2024-04-04) was 6.52% and one month ago for the week of 2024-03-07, the average rate was 6.58%.

Effingham's average rate one year ago was 6.08%.

For refis of the same type during the week of 2024-04-11, the average rate was 7.38%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-04-11 6.88%
Effingham 30 Year Fixed Rate 2024-04-11 6.68%
Effingham 30 Year Fixed Rate Refi 2024-04-11 7.38%
Effingham 15 Year Fixed Rate 2024-04-11 6.16%
Effingham 15 Year Fixed Rate Refi 2024-04-11 6.46%
Effingham 30 Year FHA 2024-04-11 6.84%
Effingham 30 Year FHA Refi 2024-04-11 6.84%
Effingham 30 Year USDA 2024-04-11 6.81%
Effingham 30 Year USDA Refi 2024-04-11 6.71%
Effingham 30 Year VA 2024-04-11 6.77%
Effingham 30 Year VA Refi 2024-04-11 6.57%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Effingham, IL.

Effingham 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 Effingham, 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
Dieterich Bank 53 6.16% $1,881
Petefish, Skiles & Co. 12 6.61% $2,654
Midland States Bank 8 6.64% $2,724
QUICKEN LOANS, LLC 5 7.20% $5,715
First Mid Bank & Trust 5 6.40% $2,235
GUARANTEED RATE, INC. 3 6.42% $2,760
BROKER SOLUTIONS, INC. 3 7.75% $3,541
Bank of Hillsboro 3 6.67% $1,907
Fifth Third Bank 3 6.70% $3,112
First National Bank of Waterloo 3 7.04% $1,823
CROSSCOUNTRY MORTGAGE, LLC 3 6.30% $7,089
Mortgage Research Center, LLC 2 6.88% $4,634
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.49% $3,387
Heartland Bank and Trust Company 2 7.00% $2,056
FLAT BRANCH MORTGAGE, INC. 2 6.68% $4,199
Farm Credit Mid-America, ACA 2 7.31% $5,542
JPMorgan Chase Bank 2 6.44% $6,195
Wells Fargo Bank 1 6.88% $5,629
CHURCHILL MORTGAGE CORPORATION 1 7.38% $4,951
Discover Bank 1 7.24% $0
EVERETT FINANCIAL, INC. 1 7.38% $5,382
Flagstar Bank, FSB 1 6.63% $2,711
GERSHMAN INVESTMENT CORP. 1 6.63% $2,351
INB 1 5.75% $3,045
LAKEVIEW LOAN SERVICING, LLC 1 5.88% $7,750
MidWestOne Bank 1 6.88% $2,771
Mr. Cooper ( Nationstar Mortgage ) 1 7.49% $5,295
NAVY FEDERAL CREDIT UNION 1 6.88% $1,337
NBKC BANK 1 5.88% $3,056
ON Q FINANCIAL, INC. 1 6.62% $4,669
Sierra Pacific Mortgage Company, Inc. 1 6.88% $8,970
TOGETHER CREDIT UNION 1 7.25% $2,576
United Fidelity Bank, fsb 1 6.63% $3,188
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $2,317

Effingham Average Closing Costs & Other Stats

Effingham, IL's 34 lenders originated 343 loans during 2023. The total origination value was $56,715,000, with an average loan value of $165,350.

Effingham's average closing costs are $3,575.

The top Effingham lender as defined by loan originations is Dieterich Bank, with 53 loans originated. Their average total fees are $1,881, which is $772 lower than the next largest lender, Petefish, Skiles & Co..

The lowest fee Effingham lenders (with over 10 loans originated) are Dieterich Bank ($1,881), Petefish, Skiles & Co. ($2,654), .

The lowest rate Effingham lenders (with over 10 loans originated) are Dieterich Bank (6.16%), Petefish, Skiles & Co. (6.61%), .

Effingham, 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
Dieterich Bank $22,625,000 $18,370,000 -18.8% 32.4%
WALKER & DUNLOP, LLC $3,225,000 n/a 5.7%
Mortgage Research Center, LLC $2,120,000 $2,965,000 39.9% 5.2%
QUICKEN LOANS, LLC $3,290,000 $2,455,000 -25.4% 4.3%
Petefish, Skiles & Co. $2,690,000 $2,440,000 -9.3% 4.3%
Midland States Bank $5,980,000 $2,400,000 -59.9% 4.2%
Bank of Hillsboro $985,000 $1,765,000 79.2% 3.1%
CROSSCOUNTRY MORTGAGE, LLC $605,000 $1,670,000 176.0% 2.9%
BROKER SOLUTIONS, INC. $2,060,000 $1,605,000 -22.1% 2.8%
First Mid Bank & Trust $1,565,000 $1,445,000 -7.7% 2.5%
GUARANTEED RATE, INC. $4,515,000 $1,210,000 -73.2% 2.1%
Fifth Third Bank $3,780,000 $1,175,000 -68.9% 2.1%
JPMorgan Chase Bank $1,055,000 $1,070,000 1.4% 1.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,510,000 $1,065,000 -29.5% 1.9%
PENNYMAC LOAN SERVICES, LLC $450,000 $970,000 115.6% 1.7%
The Peoples State Bank of Newton, Illinois $1,580,000 $950,000 -39.9% 1.7%
FLAT BRANCH MORTGAGE, INC. $385,000 $860,000 123.4% 1.5%
The FNB Community Bank $655,000 $760,000 16.0% 1.3%
TOGETHER CREDIT UNION $615,000 n/a 1.1%
GERSHMAN INVESTMENT CORP. $510,000 $535,000 4.9% 0.9%
Farm Credit Mid-America, ACA $1,010,000 $490,000 -51.5% 0.9%
First National Bank of Waterloo $6,685,000 $455,000 -93.2% 0.8%
21ST MORTGAGE CORPORATION $80,000 $450,000 462.5% 0.8%
INB $445,000 n/a 0.8%
Heartland Bank and Trust Company $415,000 n/a 0.7%
ON Q FINANCIAL, INC. $415,000 n/a 0.7%
NBKC BANK $405,000 n/a 0.7%
Paramount Residential Mortgage Group, Inc. $385,000 n/a 0.7%
MidWestOne Bank $365,000 n/a 0.6%
LOANDEPOT.COM, LLC $515,000 $320,000 -37.9% 0.6%
Wells Fargo Bank $525,000 $320,000 -39.0% 0.6%
Discover Bank $95,000 $310,000 226.3% 0.5%
Sierra Pacific Mortgage Company, Inc. $295,000 n/a 0.5%
AMERISAVE MORTGAGE CORPORATION $1,595,000 $265,000 -83.4% 0.5%
GREENSTATE CREDIT UNION $225,000 n/a 0.4%
Flagstar Bank, FSB $370,000 $220,000 -40.5% 0.4%
Carrollton Bank $215,000 n/a 0.4%
Mr. Cooper ( Nationstar Mortgage ) $390,000 $215,000 -44.9% 0.4%
USAA Federal Savings Bank $275,000 $215,000 -21.8% 0.4%
United Fidelity Bank, fsb $205,000 n/a 0.4%
First Financial Bank $375,000 $200,000 -46.7% 0.4%
AmRes Corporation $195,000 n/a 0.3%
CHURCHILL MORTGAGE CORPORATION $485,000 $195,000 -59.8% 0.3%
LAKEVIEW LOAN SERVICING, LLC $95,000 $185,000 94.7% 0.3%
FirstBank $175,000 n/a 0.3%
Illinois State Police Federal Credit Union $175,000 n/a 0.3%
Figure Lending LLC $35,000 $165,000 371.4% 0.3%
Mid-Continent Funding, Inc. $115,000 $155,000 34.8% 0.3%
VANDERBILT MORTGAGE AND FINANCE, INC. $215,000 $150,000 -30.2% 0.3%
UNIVERSITY OF ILLINOIS COMMUNITY $145,000 n/a 0.3%
NAVY FEDERAL CREDIT UNION $800,000 $135,000 -83.1% 0.2%
EVERETT FINANCIAL, INC. $125,000 n/a 0.2%
LIBERTY HOME MORTGAGE CORPORATION $105,000 n/a 0.2%
United Community Bank $105,000 n/a 0.2%
DOMINION FINANCIAL SERVICES, LLC $95,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $65,000 n/a 0.1%
Lakeview Community Capital, LLC $45,000 n/a 0.1%
SCOTT CREDIT UNION $85,000 $35,000 -58.8% 0.1%
Citizens Bank $25,000 n/a 0.0%
Coastal Community Bank $25,000 n/a 0.0%

Effingham's top lender by overall market share is Dieterich Bank, with 32.4% market share. In second place, with 5.7%, is WALKER & DUNLOP, LLC, having originated $3,225,000 in loans. In third place, with 5.2%, is Mortgage Research Center, LLC, having originated $2,965,000 in loans. In fourth place, with 4.3%, is QUICKEN LOANS, LLC, having originated $2,455,000 in loans. In fifth place, with 4.3%, is Petefish, Skiles & Co., having originated $2,440,000 in loans.


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

Realtor.com - Effingham (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 $185,300 (12.9%) $239,462 (1.4%) 0.00 79
2018-02-01 $166,150 (-2.2%) $228,282 (-7.7%) 0.00 84
2018-03-01 $199,900 (7.9%) $238,183 (-6.2%) 0.00 102
2018-04-01 $199,900 (8.1%) $241,687 (-5.1%) 0.00 115
2018-05-01 $199,450 (6.1%) $238,552 (-8.3%) 0.00 126
2018-06-01 $199,900 (9.7%) $220,654 (-10.0%) 0.00 128
2018-07-01 $199,900 (8.1%) $219,956 (-11.7%) 0.00 128
2018-08-01 $198,700 (10.0%) $210,187 (-15.3%) 0.00 124
2018-09-01 $189,950 (7.4%) $208,527 (-9.0%) 0.00 128
2018-10-01 $173,700 (-1.8%) $206,431 (-11.5%) 0.00 128
2018-11-01 $175,725 (-1.8%) $203,560 (-15.6%) 0.00 121
2018-12-01 $164,950 (-13.7%) $193,387 (-19.2%) 0.00 107
2019-01-01 $149,900 (-19.1%) $189,407 (-20.9%) 0.00 103
2019-02-01 $156,225 (-6.0%) $202,345 (-11.4%) 0.00 103
2019-03-01 $162,714 (-18.6%) $217,097 (-8.9%) 0.00 101
2019-04-01 $167,689 (-16.1%) $222,849 (-7.8%) 0.00 102
2019-05-01 $174,575 (-12.5%) $237,703 (-0.4%) 0.00 108
2019-06-01 $168,950 (-15.5%) $231,487 (4.9%) 0.00 117
2019-07-01 $168,475 (-15.7%) $226,479 (3.0%) 0.00 124
2019-08-01 $168,136 (-15.4%) $227,972 (8.5%) 0.00 126
2019-09-01 $168,341 (-11.4%) $229,892 (10.3%) 0.00 131
2019-10-01 $170,500 (-1.8%) $231,838 (12.3%) 0.00 136
2019-11-01 $158,500 (-9.8%) $226,329 (11.2%) 0.00 140
2019-12-01 $139,900 (-15.2%) $222,436 (15.0%) 0.00 123
2020-01-01 $154,900 (3.3%) $217,902 (15.0%) 0.00 122
2020-02-01 $152,400 (-2.5%) $224,540 (11.0%) 0.00 112
2020-03-01 $169,950 (4.5%) $245,518 (13.1%) 0.00 121
2020-04-01 $176,500 (5.3%) $246,700 (10.7%) 0.00 123
2020-05-01 $198,750 (13.9%) $252,683 (6.3%) 0.00 113
2020-06-01 $207,000 (22.5%) $281,999 (21.8%) 0.00 97
2020-07-01 $207,700 (23.3%) $289,058 (27.6%) 0.00 94
2020-08-01 $218,950 (30.2%) $295,080 (29.4%) 0.00 84
2020-09-01 $222,000 (31.9%) $299,424 (30.3%) 0.00 85
2020-10-01 $224,900 (31.9%) $295,877 (27.6%) 0.00 82
2020-11-01 $182,425 (15.1%) $286,836 (26.7%) 0.00 84
2020-12-01 $169,900 (21.4%) $274,512 (23.4%) 0.00 79
2021-01-01 $176,450 (13.9%) $281,539 (29.2%) 0.00 61
2021-02-01 $208,750 (37.0%) $318,895 (42.0%) 0.00 54
2021-03-01 $209,500 (23.3%) $329,139 (34.1%) 0.00 58
2021-04-01 $220,755 (25.1%) $350,933 (42.3%) 0.00 57
2021-05-01 $142,500 (-28.3%) $306,687 (21.4%) 0.00 58
2021-06-01 $187,000 (-9.7%) $320,583 (13.7%) 0.00 60
2021-07-01 $194,950 (-6.1%) $324,875 (12.4%) 0.00 56
2021-08-01 $187,725 (-14.3%) $307,856 (4.3%) 0.00 49
2021-09-01 $186,500 (-16.0%) $283,295 (-5.4%) 0.00 51
2021-10-01 $186,000 (-17.3%) $278,440 (-5.9%) 0.00 47
2021-11-01 $189,250 (3.7%) $264,874 (-7.7%) 0.00 49
2021-12-01 $164,900 (-2.9%) $234,643 (-14.5%) 0.00 41
2022-01-01 $139,900 (-20.7%) $220,988 (-21.5%) 0.00 36
2022-02-01 $164,925 (-21.0%) $252,108 (-20.9%) 0.00 29
2022-03-01 $161,975 (-22.7%) $289,084 (-12.2%) 0.00 33
2022-04-01 $170,000 (-23.0%) $272,287 (-22.4%) 0.00 33
2022-05-01 $228,200 (60.1%) $313,923 (2.4%) 0.00 28
2022-06-01 $263,725 (41.0%) $333,793 (4.1%) 0.00 24
2022-07-01 $235,000 (20.5%) $327,731 (0.9%) 0.00 27
2022-08-01 $147,500 (-21.4%) $239,656 (-22.2%) 0.00 38
2022-09-01 $173,225 (-7.1%) $266,134 (-6.1%) 0.00 45
2022-10-01 $159,900 (-14.0%) $251,539 (-9.7%) 0.00 45
2022-11-01 $163,175 (-13.8%) $290,547 (9.7%) 0.00 45
2022-12-01 $179,900 (9.1%) $299,513 (27.7%) 0.00 39
2023-01-01 $226,975 (62.2%) $333,138 (50.8%) 0.00 34
2023-02-01 $228,675 (38.7%) $344,499 (36.7%) 0.00 28
2023-03-01 $219,625 (35.6%) $364,102 (26.0%) 0.00 27
2023-04-01 $239,000 (40.6%) $399,037 (46.6%) 0.00 29
2023-05-01 $321,825 (41.0%) $415,592 (32.4%) 0.00 30
2023-06-01 $327,475 (24.2%) $445,135 (33.4%) 0.00 32
2023-07-01 $305,000 (29.8%) $474,041 (44.6%) 0.00 39
2023-08-01 $287,450 (94.9%) $479,314 (100.0%) 0.00 45
2023-09-01 $325,000 (87.6%) $502,683 (88.9%) 0.00 46
2023-10-01 $276,950 (73.2%) $475,163 (88.9%) 0.00 54
2023-11-01 $285,700 (75.1%) $468,862 (61.4%) 0.00 54
2023-12-01 $299,900 (66.7%) $426,504 (42.4%) 0.00 58
2024-01-01 $323,725 (42.6%) $420,612 (26.3%) 0.00 57
2024-02-01 $324,975 (42.1%) $415,823 (20.7%) 0.00 56
2024-03-01 $337,450 (53.7%) $429,361 (17.9%) 0.00 47
Effingham's median listing price for 2024-03-01 was $337,450, a difference of $117,825 (53.7%) versus the prior year and $12,475 versus the prior month.

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

Effingham's average listing price for 2024-03-01 was $429,361, a difference of $65,259 (17.9%) versus the prior year and $13,538 versus the prior month.

For the 2024-03-01 period, Effingham had 47 MLS listings, a difference of -9 listings (-16%) versus the prior month and 20 listings (74%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Effingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,992 sqft
2018-02-01 0 days 2,001 sqft
2018-03-01 0 days 2,248 sqft
2018-04-01 0 days 2,325 sqft
2018-05-01 0 days 2,091 sqft
2018-06-01 0 days 2,184 sqft
2018-07-01 0 days 2,185 sqft
2018-08-01 0 days 2,088 sqft
2018-09-01 0 days 2,047 sqft
2018-10-01 0 days 2,001 sqft
2018-11-01 0 days 1,989 sqft
2018-12-01 0 days 1,915 sqft
2019-01-01 0 days 1,776 sqft
2019-02-01 0 days 1,774 sqft
2019-03-01 0 days 1,864 sqft
2019-04-01 0 days 1,944 sqft
2019-05-01 0 days 2,021 sqft
2019-06-01 0 days 1,950 sqft
2019-07-01 0 days 1,922 sqft
2019-08-01 0 days 1,861 sqft
2019-09-01 0 days 1,815 sqft
2019-10-01 0 days 1,785 sqft
2019-11-01 0 days 1,783 sqft
2019-12-01 0 days 1,784 sqft
2020-01-01 0 days 1,784 sqft
2020-02-01 0 days 1,795 sqft
2020-03-01 0 days 1,889 sqft
2020-04-01 0 days 1,943 sqft
2020-05-01 0 days 2,041 sqft
2020-06-01 0 days 2,093 sqft
2020-07-01 0 days 2,086 sqft
2020-08-01 0 days 2,119 sqft
2020-09-01 0 days 2,152 sqft
2020-10-01 0 days 2,280 sqft
2020-11-01 0 days 1,970 sqft
2020-12-01 0 days 1,812 sqft
2021-01-01 0 days 1,825 sqft
2021-02-01 0 days 1,999 sqft
2021-03-01 0 days 2,038 sqft
2021-04-01 0 days 2,041 sqft
2021-05-01 0 days 1,598 sqft
2021-06-01 0 days 1,871 sqft
2021-07-01 0 days 2,040 sqft
2021-08-01 0 days 1,932 sqft
2021-09-01 0 days 1,921 sqft
2021-10-01 0 days 2,008 sqft
2021-11-01 0 days 1,980 sqft
2021-12-01 0 days 1,584 sqft
2022-01-01 0 days 1,520 sqft
2022-02-01 0 days 1,761 sqft
2022-03-01 0 days 1,899 sqft
2022-04-01 0 days 1,745 sqft
2022-05-01 0 days 1,904 sqft
2022-06-01 0 days 1,938 sqft
2022-07-01 0 days 1,940 sqft
2022-08-01 0 days 1,735 sqft
2022-09-01 0 days 1,931 sqft
2022-10-01 0 days 2,104 sqft
2022-11-01 0 days 1,777 sqft
2022-12-01 0 days 1,912 sqft
2023-01-01 0 days 2,017 sqft
2023-02-01 0 days 1,924 sqft
2023-03-01 0 days 1,960 sqft
2023-04-01 0 days 2,458 sqft
2023-05-01 0 days 2,423 sqft
2023-06-01 0 days 2,472 sqft
2023-07-01 0 days 2,481 sqft
2023-08-01 0 days 2,388 sqft
2023-09-01 0 days 2,285 sqft
2023-10-01 0 days 2,100 sqft
2023-11-01 0 days 2,141 sqft
2023-12-01 0 days 2,080 sqft
2024-01-01 0 days 2,263 sqft
2024-02-01 0 days 2,324 sqft
2024-03-01 0 days 2,602 sqft
Effingham's median listing age (time on market) for 2024-03-01 was 0 days.

Effingham's median square footage for active listings during the 2024-03-01 period was 2,602 sqft. One year prior, the average listing was 1,960 sqft.

Effingham, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 208 $40,230,000 $193,413
Other 41 $3,465,000 $84,512
Refi 33 $6,325,000 $191,667
Cash Out Refi 32 $4,580,000 $143,125
Home Improvement 29 $2,115,000 $72,931

Effingham's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Other, with 41 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 142 $27,040,000 $190,423
7-8% 77 $11,125,000 $144,481
5-6% 46 $11,050,000 $240,217
Over 8% 37 $2,335,000 $63,108
4-5% 17 $2,725,000 $160,294
<2.5% 6 $230,000 $38,333
3-4% 4 $260,000 $65,000
2.5-3% 1 $235,000 $235,000

During 2023, Effingham's most frequently originated rate bucket was 6-7%, with 142 originations.

Loan Sizing (Effingham, IL MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 127 $18,245,000 $143,661
$100,000 or less 122 $6,320,000 $51,803
$200k-400k 80 $21,240,000 $265,500
$400k-600k 8 $3,620,000 $452,500
$600k-1000k 4 $2,760,000 $690,000
$Over $1MM 2 $4,530,000 $2,265,000

Effingham's loan sizing saw the bucket of loans from $100k-200k with 127 originations, totaling $18,245,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 144 $27,660,000 $192,083
60-80% 61 $16,185,000 $265,328
20-40% 43 $4,045,000 $94,070
Under 20% 43 $1,535,000 $35,698
40-60% 39 $5,435,000 $139,359
Over 100% 1 $145,000 $145,000

Effingham's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 144 originations, totaling $27,660,000 in origination value.