Effingham Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Effingham averaged 7% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.68% and one month ago for the week of 2024-03-14, the average rate was 6.34%.

    Effingham's average rate one year ago was 5.77%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.2%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Effingham 30 Year Fixed Rate 2024-04-18 7%
    Effingham 30 Year Fixed Rate Refi 2024-04-18 7.2%
    Effingham 15 Year Fixed Rate 2024-04-18 6.39%
    Effingham 15 Year Fixed Rate Refi 2024-04-18 6.79%
    Effingham 30 Year FHA 2024-04-18 7.06%
    Effingham 30 Year FHA Refi 2024-04-18 7.06%
    Effingham 30 Year USDA 2024-04-18 6.86%
    Effingham 30 Year USDA Refi 2024-04-18 6.96%
    Effingham 30 Year VA 2024-04-18 6.86%
    Effingham 30 Year VA Refi 2024-04-18 6.86%
    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.