Effingham Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Effingham averaged
6.98%
for the week of 2025-04-10, compared to the national average of
6.62% for the same period.
The average rate for the prior week (2025-04-03) was
7% and
one month ago for the week of 2025-03-06, the
average rate was 6.59%.
Effingham's average rate one year ago was 6.98%.
For refis of the same type during the week of 2025-04-10, the average rate
was 6.82%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2025-04-10 | 6.62% |
Effingham 30 Year Fixed Rate | 2025-04-10 | 6.98% |
Effingham 30 Year Fixed Rate Refi | 2025-04-10 | 6.82% |
Effingham 15 Year Fixed Rate | 2025-04-10 | 5.82% |
Effingham 15 Year Fixed Rate Refi | 2025-04-10 | 6.12% |
Effingham 30 Year FHA | 2025-04-10 | 6.63% |
Effingham 30 Year FHA Refi | 2025-04-10 | 6.63% |
Effingham 30 Year USDA | 2025-04-10 | 6.45% |
Effingham 30 Year USDA Refi | 2025-04-10 | 6.35% |
Effingham 30 Year VA | 2025-04-10 | 6.19% |
Effingham 30 Year VA Refi | 2025-04-10 | 6.39% |
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.).
Effingham Average Closing Costs & Other Stats
Effingham, IL's 26 lenders originated 352
loans during 2024. The total origination value was $59,540,000, with an average loan value of
$169,148.
Effingham's average closing costs are $3,700.
The top Effingham lender as defined by loan originations is Petefish, Skiles & Co., with
17 loans originated. Their average total fees are
$2,726, which is $1,045
lower than the next largest lender,
BROKER SOLUTIONS, INC..
The lowest fee Effingham lenders (with over 10 loans originated) are
Petefish, Skiles & Co. ($2,726), Midland States Bank ($2,984), BROKER SOLUTIONS, INC. ($3,771), .
The lowest rate Effingham lenders (with over 10 loans originated) are
Petefish, Skiles & Co. (6.80%), BROKER SOLUTIONS, INC. (6.87%), Midland States Bank (6.93%), .
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
---|---|---|---|---|
Dieterich Bank | $18,370,000 | $14,650,000 | -20.3% | 24.6% |
Midland States Bank | $2,400,000 | $4,910,000 | 104.6% | 8.2% |
BROKER SOLUTIONS, INC. | $1,605,000 | $4,175,000 | 160.1% | 7.0% |
QUICKEN LOANS, LLC | $2,455,000 | $3,625,000 | 47.7% | 6.1% |
Mortgage Research Center, LLC | $2,965,000 | $3,620,000 | 22.1% | 6.1% |
Petefish, Skiles & Co. | $2,440,000 | $3,120,000 | 27.9% | 5.2% |
Fifth Third Bank | $1,175,000 | $2,585,000 | 120.0% | 4.3% |
CROSSCOUNTRY MORTGAGE, LLC | $1,670,000 | $2,150,000 | 28.7% | 3.6% |
First Mid Bank & Trust | $1,445,000 | $1,660,000 | 14.9% | 2.8% |
The Peoples State Bank of Newton, Illinois | $950,000 | $1,215,000 | 27.9% | 2.0% |
UNITED WHOLESALE MORTGAGE, LLC | $980,000 | n/a | 1.6% | |
Community Mortgage Banc Corporation | $920,000 | n/a | 1.5% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $150,000 | $855,000 | 470.0% | 1.4% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,065,000 | $825,000 | -22.5% | 1.4% |
Morgan Stanley Private Bank | $765,000 | n/a | 1.3% | |
Heartland Bank and Trust Company | $415,000 | $705,000 | 69.9% | 1.2% |
Minnwest Bank | $675,000 | n/a | 1.1% | |
MORIA DEVELOPMENT, INC. | $645,000 | n/a | 1.1% | |
Bank of Hillsboro | $1,765,000 | $530,000 | -70.0% | 0.9% |
First National Bank of Waterloo | $455,000 | $465,000 | 2.2% | 0.8% |
21ST MORTGAGE CORPORATION | $450,000 | $450,000 | 0.0% | 0.8% |
GAS AND ELECTRIC CREDIT UNION | $425,000 | n/a | 0.7% | |
U.S. Bank | $410,000 | n/a | 0.7% | |
LOANDEPOT.COM, LLC | $320,000 | $400,000 | 25.0% | 0.7% |
The Huntington National Bank | $380,000 | n/a | 0.6% | |
Ixonia Bank | $365,000 | n/a | 0.6% | |
SCOTT CREDIT UNION | $35,000 | $365,000 | 942.9% | 0.6% |
JPMorgan Chase Bank | $1,070,000 | $350,000 | -67.3% | 0.6% |
Flagstar Bank, FSB | $220,000 | $330,000 | 50.0% | 0.6% |
PLANET HOME LENDING, LLC | $305,000 | n/a | 0.5% | |
Iroquois Federal Savings and Loan Association | $295,000 | n/a | 0.5% | |
Scott State Bank | $295,000 | n/a | 0.5% | |
FREEDOM MORTGAGE CORPORATION | $290,000 | n/a | 0.5% | |
FIRST COMMUNITY MORTGAGE, INC. | $285,000 | n/a | 0.5% | |
Stifel Bank and Trust | $285,000 | n/a | 0.5% | |
NEWREZ LLC | $260,000 | n/a | 0.4% | |
Old National Bank | $255,000 | n/a | 0.4% | |
AMERISAVE MORTGAGE CORPORATION | $265,000 | $245,000 | -7.5% | 0.4% |
DELMAR FINANCIAL COMPANY | $235,000 | n/a | 0.4% | |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $215,000 | n/a | 0.4% | |
LENDINGHOME FUNDING CORPORATION | $215,000 | n/a | 0.4% | |
Busey Bank | $195,000 | n/a | 0.3% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $195,000 | n/a | 0.3% | |
PREMIA MORTGAGE, LLC | $195,000 | n/a | 0.3% | |
USAA Federal Savings Bank | $215,000 | $195,000 | -9.3% | 0.3% |
GUARANTEED RATE, INC. | $1,210,000 | $185,000 | -84.7% | 0.3% |
NAVY FEDERAL CREDIT UNION | $135,000 | $185,000 | 37.0% | 0.3% |
PENNYMAC LOAN SERVICES, LLC | $970,000 | $185,000 | -80.9% | 0.3% |
Farm Credit Mid-America, ACA | $490,000 | $165,000 | -66.3% | 0.3% |
The FNB Community Bank | $760,000 | $165,000 | -78.3% | 0.3% |
AmRes Corporation | $195,000 | $155,000 | -20.5% | 0.3% |
Bank of America | $155,000 | n/a | 0.3% | |
INB | $445,000 | $155,000 | -65.2% | 0.3% |
EVANSVILLE TEACHERS | $150,000 | n/a | 0.3% | |
Equity Prime Mortgage LLC | $145,000 | n/a | 0.2% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $135,000 | n/a | 0.2% | |
SOUTHWEST STAGE FUNDING, LLC | $135,000 | n/a | 0.2% | |
LENDSURE MORTGAGE CORP. | $125,000 | n/a | 0.2% | |
SIRVA MORTGAGE, INC. | $125,000 | n/a | 0.2% | |
Discover Bank | $310,000 | $115,000 | -62.9% | 0.2% |
Prospect Bank | $85,000 | n/a | 0.1% | |
ALLIANT CREDIT UNION | $65,000 | n/a | 0.1% | |
DECATUR EARTHMOVER CREDIT UNION | $45,000 | n/a | 0.1% | |
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $45,000 | n/a | 0.1% | |
Figure Lending LLC | $165,000 | $45,000 | -72.7% | 0.1% |
First Financial Bank | $200,000 | $45,000 | -77.5% | 0.1% |
Mr. Cooper ( Nationstar Mortgage ) | $215,000 | $45,000 | -79.1% | 0.1% |
Coastal Community Bank | $25,000 | $25,000 | 0.0% | 0.0% |
United Community Bank | $105,000 | $25,000 | -76.2% | 0.0% |
Morton Community Bank | $15,000 | n/a | 0.0% |
Effingham's top lender by overall market share is Dieterich Bank, with 24.6% market share. In second place, with 8.2%, is Midland States Bank, having originated $4,910,000 in loans. In third place, with 7.0%, is BROKER SOLUTIONS, INC., having originated $4,175,000 in loans. In fourth place, with 6.1%, is QUICKEN LOANS, LLC, having originated $3,625,000 in loans. In fifth place, with 6.1%, is Mortgage Research Center, LLC, having originated $3,620,000 in loans.
Effingham Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Effingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $158,700 (0.1%) | $211,201 (-1.1%) | 0.00 | 102 |
2018-02-01 | $157,350 (-4.6%) | $206,030 (-5.8%) | 0.00 | 106 |
2018-03-01 | $188,500 (10.9%) | $221,440 (-3.7%) | 0.00 | 124 |
2018-04-01 | $189,925 (11.7%) | $225,052 (-3.7%) | 0.00 | 136 |
2018-05-01 | $187,425 (9.9%) | $238,597 (0.7%) | 0.00 | 154 |
2018-06-01 | $188,200 (10.9%) | $222,100 (0.3%) | 0.00 | 159 |
2018-07-01 | $189,900 (13.9%) | $222,108 (-0.8%) | 0.00 | 155 |
2018-08-01 | $187,900 (9.0%) | $215,284 (-6.6%) | 0.00 | 151 |
2018-09-01 | $169,900 (6.3%) | $207,926 (-0.6%) | 0.00 | 159 |
2018-10-01 | $157,000 (3.1%) | $201,044 (-4.5%) | 0.00 | 168 |
2018-11-01 | $157,900 (1.7%) | $200,202 (-7.6%) | 0.00 | 155 |
2018-12-01 | $149,950 (-6.2%) | $191,714 (-10.0%) | 0.00 | 143 |
2019-01-01 | $144,350 (-9.0%) | $190,322 (-9.9%) | 0.00 | 142 |
2019-02-01 | $149,250 (-5.2%) | $200,865 (-2.5%) | 0.00 | 139 |
2019-03-01 | $147,050 (-22.0%) | $204,349 (-7.7%) | 0.00 | 138 |
2019-04-01 | $144,725 (-23.8%) | $201,444 (-10.5%) | 0.00 | 140 |
2019-05-01 | $154,175 (-17.7%) | $214,338 (-10.2%) | 0.00 | 141 |
2019-06-01 | $152,000 (-19.2%) | $214,775 (-3.3%) | 0.00 | 156 |
2019-07-01 | $147,325 (-22.4%) | $203,555 (-8.4%) | 0.00 | 173 |
2019-08-01 | $143,536 (-23.6%) | $204,016 (-5.2%) | 0.00 | 170 |
2019-09-01 | $141,491 (-16.7%) | $207,706 (-0.1%) | 0.00 | 170 |
2019-10-01 | $142,627 (-9.2%) | $212,487 (5.7%) | 0.00 | 173 |
2019-11-01 | $139,900 (-11.4%) | $206,528 (3.2%) | 0.00 | 181 |
2019-12-01 | $139,000 (-7.3%) | $216,093 (12.7%) | 0.00 | 161 |
2020-01-01 | $139,450 (-3.4%) | $217,204 (14.1%) | 0.00 | 155 |
2020-02-01 | $136,500 (-8.5%) | $224,598 (11.8%) | 0.00 | 141 |
2020-03-01 | $155,700 (5.9%) | $242,095 (18.5%) | 0.00 | 146 |
2020-04-01 | $160,500 (10.9%) | $248,028 (23.1%) | 0.00 | 146 |
2020-05-01 | $152,900 (-0.8%) | $246,457 (15.0%) | 0.00 | 135 |
2020-06-01 | $178,900 (17.7%) | $270,529 (26.0%) | 0.00 | 121 |
2020-07-01 | $176,975 (20.1%) | $263,775 (29.6%) | 0.00 | 113 |
2020-08-01 | $196,950 (37.2%) | $272,304 (33.5%) | 0.00 | 98 |
2020-09-01 | $194,200 (37.3%) | $276,871 (33.3%) | 0.00 | 96 |
2020-10-01 | $189,900 (33.1%) | $274,763 (29.3%) | 0.00 | 94 |
2020-11-01 | $174,950 (25.1%) | $272,816 (32.1%) | 0.00 | 92 |
2020-12-01 | $169,250 (21.8%) | $259,893 (20.3%) | 0.00 | 89 |
2021-01-01 | $169,000 (21.2%) | $257,932 (18.8%) | 0.00 | 73 |
2021-02-01 | $177,900 (30.3%) | $292,824 (30.4%) | 0.00 | 62 |
2021-03-01 | $181,450 (16.5%) | $301,782 (24.7%) | 0.00 | 65 |
2021-04-01 | $173,250 (7.9%) | $316,062 (27.4%) | 0.00 | 67 |
2021-05-01 | $112,700 (-26.3%) | $276,074 (12.0%) | 0.00 | 66 |
2021-06-01 | $145,200 (-18.8%) | $297,230 (9.9%) | 0.00 | 66 |
2021-07-01 | $185,000 (4.5%) | $301,926 (14.5%) | 0.00 | 61 |
2021-08-01 | $172,900 (-12.2%) | $280,134 (2.9%) | 0.00 | 59 |
2021-09-01 | $184,500 (-5.0%) | $267,398 (-3.4%) | 0.00 | 57 |
2021-10-01 | $185,000 (-2.6%) | $261,875 (-4.7%) | 0.00 | 58 |
2021-11-01 | $180,225 (3.0%) | $251,055 (-8.0%) | 0.00 | 60 |
2021-12-01 | $164,975 (-2.5%) | $221,926 (-14.6%) | 0.00 | 52 |
2022-01-01 | $146,325 (-13.4%) | $213,028 (-17.4%) | 0.00 | 42 |
2022-02-01 | $163,675 (-8.0%) | $237,529 (-18.9%) | 0.00 | 33 |
2022-03-01 | $156,875 (-13.5%) | $282,144 (-6.5%) | 0.00 | 37 |
2022-04-01 | $170,000 (-1.9%) | $266,495 (-15.7%) | 0.00 | 37 |
2022-05-01 | $211,400 (87.6%) | $293,438 (6.3%) | 0.00 | 36 |
2022-06-01 | $257,450 (77.3%) | $312,932 (5.3%) | 0.00 | 29 |
2022-07-01 | $235,000 (27.0%) | $304,511 (0.9%) | 0.00 | 34 |
2022-08-01 | $147,500 (-14.7%) | $231,975 (-17.2%) | 0.00 | 45 |
2022-09-01 | $164,475 (-10.9%) | $253,116 (-5.3%) | 0.00 | 52 |
2022-10-01 | $157,400 (-14.9%) | $237,636 (-9.3%) | 0.00 | 53 |
2022-11-01 | $164,725 (-8.6%) | $276,584 (10.2%) | 0.00 | 54 |
2022-12-01 | $179,900 (9.1%) | $291,841 (31.5%) | 0.00 | 49 |
2023-01-01 | $232,975 (59.2%) | $314,623 (47.7%) | 0.00 | 45 |
2023-02-01 | $210,850 (28.8%) | $298,976 (25.9%) | 0.00 | 47 |
2023-03-01 | $204,350 (30.3%) | $312,862 (10.9%) | 0.00 | 43 |
2023-04-01 | $207,000 (21.8%) | $339,479 (27.4%) | 0.00 | 42 |
2023-05-01 | $295,750 (39.9%) | $366,729 (25.0%) | 0.00 | 43 |
2023-06-01 | $312,450 (21.4%) | $402,472 (28.6%) | 0.00 | 43 |
2023-07-01 | $292,250 (24.4%) | $411,126 (35.0%) | 0.00 | 52 |
2023-08-01 | $286,000 (93.9%) | $437,388 (88.6%) | 0.00 | 56 |
2023-09-01 | $325,000 (97.6%) | $458,725 (81.2%) | 0.00 | 58 |
2023-10-01 | $282,000 (79.2%) | $427,760 (80.0%) | 0.00 | 70 |
2023-11-01 | $290,700 (76.5%) | $436,757 (57.9%) | 0.00 | 66 |
2023-12-01 | $284,900 (58.4%) | $388,334 (33.1%) | 0.00 | 72 |
2024-01-01 | $299,900 (28.7%) | $389,082 (23.7%) | 0.00 | 69 |
2024-02-01 | $301,150 (42.8%) | $381,958 (27.8%) | 0.00 | 67 |
2024-03-01 | $327,000 (60.0%) | $409,966 (31.0%) | 0.00 | 59 |
2024-04-01 | $318,425 (53.8%) | $385,413 (13.5%) | 0.00 | 64 |
2024-05-01 | $311,900 (5.5%) | $404,078 (10.2%) | 0.00 | 80 |
2024-06-01 | $299,900 (-4.0%) | $411,557 (2.3%) | 0.00 | 81 |
2024-07-01 | $324,925 (11.2%) | $411,668 (0.1%) | 0.00 | 80 |
2024-08-01 | $302,450 (5.8%) | $386,045 (-11.7%) | 0.00 | 85 |
2024-09-01 | $292,450 (-10.0%) | $389,127 (-15.2%) | 0.00 | 91 |
2024-10-01 | $293,250 (4.0%) | $388,157 (-9.3%) | 0.00 | 78 |
2024-11-01 | $266,950 (-8.2%) | $361,922 (-17.1%) | 0.00 | 81 |
2024-12-01 | $269,225 (-5.5%) | $368,755 (-5.0%) | 0.00 | 72 |
2025-01-01 | $269,000 (-10.3%) | $376,422 (-3.3%) | 0.00 | 74 |
2025-02-01 | $265,625 (-11.8%) | $392,901 (2.9%) | 0.00 | 81 |
2025-03-01 | $250,000 (-23.6%) | $386,702 (-5.7%) | 0.00 | 66 |
Effingham's median listing price comes in at 0% of the national average.
Effingham's average listing price for 2025-03-01 was $386,702, a difference of $-23,264 (-5.7%) versus the prior year and $-6,199 versus the prior month.
For the 2025-03-01 period, Effingham had 66 MLS listings, a difference of -15 listings (-19%) versus the prior month and 7 listings (12%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Effingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,929 sqft |
2018-02-01 | 0 days | 1,926 sqft |
2018-03-01 | 0 days | 2,048 sqft |
2018-04-01 | 0 days | 2,192 sqft |
2018-05-01 | 0 days | 2,035 sqft |
2018-06-01 | 0 days | 2,046 sqft |
2018-07-01 | 0 days | 2,064 sqft |
2018-08-01 | 0 days | 2,038 sqft |
2018-09-01 | 0 days | 1,970 sqft |
2018-10-01 | 0 days | 1,908 sqft |
2018-11-01 | 0 days | 1,923 sqft |
2018-12-01 | 0 days | 1,865 sqft |
2019-01-01 | 0 days | 1,736 sqft |
2019-02-01 | 0 days | 1,706 sqft |
2019-03-01 | 0 days | 1,716 sqft |
2019-04-01 | 0 days | 1,699 sqft |
2019-05-01 | 0 days | 1,738 sqft |
2019-06-01 | 0 days | 1,758 sqft |
2019-07-01 | 0 days | 1,719 sqft |
2019-08-01 | 0 days | 1,717 sqft |
2019-09-01 | 0 days | 1,744 sqft |
2019-10-01 | 0 days | 1,764 sqft |
2019-11-01 | 0 days | 1,755 sqft |
2019-12-01 | 0 days | 1,755 sqft |
2020-01-01 | 0 days | 1,755 sqft |
2020-02-01 | 0 days | 1,794 sqft |
2020-03-01 | 0 days | 1,850 sqft |
2020-04-01 | 0 days | 1,868 sqft |
2020-05-01 | 0 days | 1,908 sqft |
2020-06-01 | 0 days | 1,984 sqft |
2020-07-01 | 0 days | 1,921 sqft |
2020-08-01 | 0 days | 2,034 sqft |
2020-09-01 | 0 days | 2,086 sqft |
2020-10-01 | 0 days | 2,131 sqft |
2020-11-01 | 0 days | 1,892 sqft |
2020-12-01 | 0 days | 1,749 sqft |
2021-01-01 | 0 days | 1,751 sqft |
2021-02-01 | 0 days | 1,825 sqft |
2021-03-01 | 0 days | 2,008 sqft |
2021-04-01 | 0 days | 1,871 sqft |
2021-05-01 | 0 days | 1,594 sqft |
2021-06-01 | 0 days | 1,747 sqft |
2021-07-01 | 0 days | 1,907 sqft |
2021-08-01 | 0 days | 1,699 sqft |
2021-09-01 | 0 days | 1,796 sqft |
2021-10-01 | 0 days | 1,806 sqft |
2021-11-01 | 0 days | 1,692 sqft |
2021-12-01 | 0 days | 1,541 sqft |
2022-01-01 | 0 days | 1,535 sqft |
2022-02-01 | 0 days | 1,624 sqft |
2022-03-01 | 0 days | 1,871 sqft |
2022-04-01 | 0 days | 1,842 sqft |
2022-05-01 | 0 days | 1,842 sqft |
2022-06-01 | 0 days | 1,902 sqft |
2022-07-01 | 0 days | 1,851 sqft |
2022-08-01 | 0 days | 1,735 sqft |
2022-09-01 | 0 days | 1,897 sqft |
2022-10-01 | 0 days | 1,940 sqft |
2022-11-01 | 0 days | 1,665 sqft |
2022-12-01 | 0 days | 1,782 sqft |
2023-01-01 | 0 days | 1,766 sqft |
2023-02-01 | 0 days | 1,747 sqft |
2023-03-01 | 0 days | 1,778 sqft |
2023-04-01 | 0 days | 1,778 sqft |
2023-05-01 | 0 days | 2,266 sqft |
2023-06-01 | 0 days | 2,304 sqft |
2023-07-01 | 0 days | 2,235 sqft |
2023-08-01 | 0 days | 2,272 sqft |
2023-09-01 | 0 days | 2,253 sqft |
2023-10-01 | 0 days | 2,055 sqft |
2023-11-01 | 0 days | 2,088 sqft |
2023-12-01 | 0 days | 1,922 sqft |
2024-01-01 | 0 days | 2,073 sqft |
2024-02-01 | 0 days | 2,216 sqft |
2024-03-01 | 0 days | 2,422 sqft |
2024-04-01 | 0 days | 2,330 sqft |
2024-05-01 | 0 days | 2,212 sqft |
2024-06-01 | 0 days | 2,283 sqft |
2024-07-01 | 0 days | 2,460 sqft |
2024-08-01 | 0 days | 2,401 sqft |
2024-09-01 | 0 days | 2,376 sqft |
2024-10-01 | 0 days | 2,451 sqft |
2024-11-01 | 0 days | 2,313 sqft |
2024-12-01 | 0 days | 2,333 sqft |
2025-01-01 | 0 days | 2,313 sqft |
2025-02-01 | 0 days | 2,246 sqft |
2025-03-01 | 0 days | 2,313 sqft |
Effingham's median square footage for active listings during the 2025-03-01 period was 2,313 sqft. One year prior, the average listing was 2,422 sqft.
Effingham, IL Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 235 | $43,685,000 | $185,894 |
Refi | 43 | $8,095,000 | $188,256 |
Cash Out Refi | 39 | $5,725,000 | $146,795 |
Other | 26 | $1,660,000 | $63,846 |
Home Improvement | 9 | $375,000 | $41,667 |
Effingham's most frequently cited loan purpose was Home Purchase, with 235 originations. The 2nd most popular reason was Refi, with 43 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 109 | $22,235,000 | $203,991 |
7-8% | 60 | $12,050,000 | $200,833 |
Over 8% | 41 | $3,535,000 | $86,220 |
5-6% | 22 | $4,610,000 | $209,545 |
4-5% | 6 | $230,000 | $38,333 |
<2.5% | 2 | $10,000 | $5,000 |
3-4% | 1 | $155,000 | $155,000 |
During 2024, Effingham's most frequently originated rate bucket was 6-7%, with 109 originations.
Loan Sizing (Effingham, IL MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 154 | $22,630,000 | $146,948 |
$100,000 or less | 103 | $5,865,000 | $56,942 |
$200k-400k | 77 | $20,595,000 | $267,468 |
$600k-1000k | 10 | $6,850,000 | $685,000 |
$400k-600k | 8 | $3,600,000 | $450,000 |
Effingham's loan sizing saw the bucket of loans from $100k-200k with 154 originations, totaling $22,630,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 129 | $26,875,000 | $208,333 |
60-80% | 40 | $7,770,000 | $194,250 |
20-40% | 30 | $3,060,000 | $102,000 |
Under 20% | 24 | $740,000 | $30,833 |
40-60% | 15 | $3,045,000 | $203,000 |
Over 100% | 2 | $600,000 | $300,000 |
Effingham's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 129 originations, totaling $26,875,000 in origination value.