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 6.83% for the week of 2025-07-03, compared to the national average of 6.67% for the same period.

    The average rate for the prior week (2025-06-26) was 6.73% and one month ago for the week of 2025-05-29, the average rate was 7.05%.

    Effingham's average rate one year ago was 6.92%.

    For refis of the same type during the week of 2025-07-03, the average rate was 6.57%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-07-03 6.67%
    Effingham 30 Year Fixed Rate 2025-07-03 6.83%
    Effingham 30 Year Fixed Rate Refi 2025-07-03 6.57%
    Effingham 15 Year Fixed Rate 2025-07-03 5.8%
    Effingham 15 Year Fixed Rate Refi 2025-07-03 6.5%
    Effingham 30 Year FHA 2025-07-03 0%
    Effingham 30 Year FHA Refi 2025-07-03 0%
    Effingham 30 Year USDA 2025-07-03 0.1%
    Effingham 30 Year USDA Refi 2025-07-03 0.1%
    Effingham 30 Year VA 2025-07-03 0.2%
    Effingham 30 Year VA Refi 2025-07-03 -0.2%
    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Petefish, Skiles & Co. 17 6.80% $2,726
    BROKER SOLUTIONS, INC. 11 6.87% $3,771
    Midland States Bank 11 6.93% $2,984
    First Mid Bank & Trust 7 6.27% $1,953
    Fifth Third Bank 5 6.57% $3,814
    QUICKEN LOANS, LLC 5 6.90% $7,456
    Bank of Hillsboro 3 6.25% $2,109
    21ST MORTGAGE CORPORATION 2 8.80% $5,923
    CROSSCOUNTRY MORTGAGE, LLC 2 6.91% $3,818
    Heartland Bank and Trust Company 2 7.06% $5,411
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 7.75% $5,530
    U.S. Bank 1 6.88% $2,791
    JPMorgan Chase Bank 1 6.38% $2,805
    LENDSURE MORTGAGE CORP. 1 8.50% $7,398
    Farm Credit Mid-America, ACA 1 7.00% $4,956
    Morgan Stanley Private Bank 1 5.80% $4,305
    NEWREZ LLC 1 6.50% $4,203
    Busey Bank 1 7.25% $2,965
    PREMIA MORTGAGE, LLC 1 6.80% $749
    Bank of America 1 6.75% $4,004
    SCOTT CREDIT UNION 1 6.50% $1,909
    SIRVA MORTGAGE, INC. 1 7.13% $2,527
    Stifel Bank and Trust 1 6.13% $2,157
    USAA Federal Savings Bank 1 6.63% $3,473
    Flagstar Bank, FSB 1 7.00% $1,997
    GAS AND ELECTRIC CREDIT UNION 1 5.88% $5,648

    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. Louis
    Date 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
    2025-04-01 $236,850 (-25.6%) $377,750 (-2.0%) 0.00 66
    2025-05-01 $264,900 (-15.1%) $402,868 (-0.3%) 0.00 66
    Effingham's median listing price for 2025-05-01 was $264,900, a difference of $-47,000 (-15.1%) versus the prior year and $28,050 versus the prior month.

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

    Effingham's average listing price for 2025-05-01 was $402,868, a difference of $-1,210 (-0.3%) versus the prior year and $25,118 versus the prior month.

    For the 2025-05-01 period, Effingham had 66 MLS listings, a difference of 0 listings (0%) versus the prior month and -14 listings (-18%) 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 1,929 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
    2025-04-01 0 days 2,178 sqft
    2025-05-01 0 days 2,186 sqft
    Effingham's median listing age (time on market) for 2025-05-01 was 0 days.

    Effingham's median square footage for active listings during the 2025-05-01 period was 2,186 sqft. One year prior, the average listing was 2,212 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.