Galesburg Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Galesburg averaged
6.73%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.96% and
one month ago for the week of 2025-05-15, the
average rate was 6.73%.
Galesburg's average rate one year ago was 7.17%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.71%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Galesburg 30 Year Fixed Rate | 2025-06-18 | 6.73% |
| Galesburg 30 Year Fixed Rate Refi | 2025-06-18 | 6.71% |
| Galesburg 15 Year Fixed Rate | 2025-06-18 | 6.16% |
| Galesburg 15 Year Fixed Rate Refi | 2025-06-18 | 6.26% |
| Galesburg 30 Year FHA | 2025-06-18 | 0.37% |
| Galesburg 30 Year FHA Refi | 2025-06-18 | -0.2% |
| Galesburg 30 Year USDA | 2025-06-18 | -0.1% |
| Galesburg 30 Year USDA Refi | 2025-06-18 | -0.1% |
| Galesburg 30 Year VA | 2025-06-18 | -0.2% |
| Galesburg 30 Year VA Refi | 2025-06-18 | 0.1% |
Galesburg 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 Galesburg, 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.).
Galesburg Average Closing Costs & Other Stats
Galesburg, IL's 61 lenders originated 788
loans during 2024. The total origination value was $88,780,000, with an average loan value of
$112,665.
Galesburg's average closing costs are $3,027.
The top Galesburg lender as defined by loan originations is CBI Bank & Trust, with
57 loans originated. Their average total fees are
$2,485, which is $398
higher than the next largest lender,
First Mid Bank & Trust.
The lowest fee Galesburg lenders (with over 10 loans originated) are
CITIZENS EQUITY FIRST ($1,195), First Mid Bank & Trust ($2,087), I. H. MISSISSIPPI VALLEY CREDIT UNION ($2,120), Community Mortgage Banc Corporation ($2,131) and INB ($2,352).
The lowest rate Galesburg lenders (with over 10 loans originated) are
I. H. MISSISSIPPI VALLEY CREDIT UNION (6.36%), Community Mortgage Banc Corporation (6.38%), First Mid Bank & Trust (6.39%), CITIZENS EQUITY FIRST (6.50%) and QUICKEN LOANS, LLC (6.89%).
Galesburg, 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 |
|---|---|---|---|---|
| CBI Bank & Trust | $14,535,000 | $14,715,000 | 1.2% | 16.6% |
| WALKER & DUNLOP, LLC | $10,885,000 | n/a | 12.3% | |
| QUICKEN LOANS, LLC | $4,910,000 | $6,105,000 | 24.3% | 6.9% |
| First Mid Bank & Trust | $5,050,000 | $4,460,000 | -11.7% | 5.0% |
| Midwest Bank | $4,030,000 | $3,970,000 | -1.5% | 4.5% |
| Community Mortgage Banc Corporation | $2,440,000 | $3,720,000 | 52.5% | 4.2% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $3,310,000 | $3,665,000 | 10.7% | 4.1% |
| Mortgage Research Center, LLC | $2,150,000 | $3,635,000 | 69.1% | 4.1% |
| CITIZENS EQUITY FIRST | $2,370,000 | $2,435,000 | 2.7% | 2.7% |
| FLAT BRANCH MORTGAGE, INC. | $1,725,000 | $2,335,000 | 35.4% | 2.6% |
| INB | $3,495,000 | $2,245,000 | -35.8% | 2.5% |
| BROKER SOLUTIONS, INC. | $950,000 | $2,195,000 | 131.1% | 2.5% |
| Wells Fargo Bank | $1,390,000 | $1,610,000 | 15.8% | 1.8% |
| Morton Community Bank | $1,370,000 | $1,355,000 | -1.1% | 1.5% |
| Old National Bank | $1,405,000 | $1,150,000 | -18.1% | 1.3% |
| FIRST STATE MORTGAGE SERVICES, LLC | $470,000 | $970,000 | 106.4% | 1.1% |
| Barrington Bank & Trust Company, N.A. | $460,000 | $935,000 | 103.3% | 1.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,430,000 | $880,000 | -38.5% | 1.0% |
| Plains Commerce Bank | $735,000 | n/a | 0.8% | |
| TRIAD FINANCIAL SERVICES, INC. | $920,000 | $735,000 | -20.1% | 0.8% |
| U.S. Bank | $955,000 | $715,000 | -25.1% | 0.8% |
| Servion, Inc. | $890,000 | $700,000 | -21.3% | 0.8% |
| GREENSTATE CREDIT UNION | $925,000 | $680,000 | -26.5% | 0.8% |
| BANKORION | $585,000 | n/a | 0.7% | |
| GERSHMAN INVESTMENT CORP. | $1,205,000 | $570,000 | -52.7% | 0.6% |
| MLD MORTGAGE INC. | $570,000 | n/a | 0.6% | |
| JPMorgan Chase Bank | $240,000 | $560,000 | 133.3% | 0.6% |
| Deere Employees Credit Union | $255,000 | $550,000 | 115.7% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $150,000 | $550,000 | 266.7% | 0.6% |
| Flagstar Bank, FSB | $515,000 | n/a | 0.6% | |
| PENNYMAC LOAN SERVICES, LLC | $85,000 | $495,000 | 482.4% | 0.6% |
| Flanagan State Bank | $210,000 | $480,000 | 128.6% | 0.5% |
| GUARANTEED RATE, INC. | $595,000 | $455,000 | -23.5% | 0.5% |
| TOWNE MORTGAGE COMPANY | $455,000 | n/a | 0.5% | |
| HOMESIDE FINANCIAL, LLC | $420,000 | $450,000 | 7.1% | 0.5% |
| American Bank and Trust Company | $320,000 | $445,000 | 39.1% | 0.5% |
| Peoples National Bank of Kewanee | $410,000 | n/a | 0.5% | |
| GUILD MORTGAGE COMPANY | $55,000 | $385,000 | 600.0% | 0.4% |
| Bank of Pontiac | $355,000 | n/a | 0.4% | |
| Summit Credit Union | $340,000 | n/a | 0.4% | |
| Northeast Security Bank | $325,000 | n/a | 0.4% | |
| Quad City Bank and Trust Company | $305,000 | n/a | 0.3% | |
| United Community Bank | $530,000 | $285,000 | -46.2% | 0.3% |
| PLAZA HOME MORTGAGE, INC. | $710,000 | $280,000 | -60.6% | 0.3% |
| First Federal Bank | $120,000 | $270,000 | 125.0% | 0.3% |
| BMO Harris Bank | $255,000 | n/a | 0.3% | |
| MARINE | $255,000 | n/a | 0.3% | |
| Regions Bank | $295,000 | $250,000 | -15.3% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $95,000 | $240,000 | 152.6% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $240,000 | n/a | 0.3% | |
| Figure Lending LLC | $235,000 | n/a | 0.3% | |
| LEADERONE FINANCIAL CORPORATION | $90,000 | $230,000 | 155.6% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $35,000 | $225,000 | 542.9% | 0.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $890,000 | $220,000 | -75.3% | 0.2% |
| Connexus Credit Union | $200,000 | $215,000 | 7.5% | 0.2% |
| Fortress Bank | $625,000 | $210,000 | -66.4% | 0.2% |
| Busey Bank | $190,000 | $205,000 | 7.9% | 0.2% |
| Midwest Heritage Bank FSB | $205,000 | n/a | 0.2% | |
| USAA Federal Savings Bank | $625,000 | $195,000 | -68.8% | 0.2% |
| ZILLOW HOME LOANS, LLC | $150,000 | $190,000 | 26.7% | 0.2% |
| LOANDEPOT.COM, LLC | $115,000 | $185,000 | 60.9% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $330,000 | $180,000 | -45.5% | 0.2% |
| Bank of Farmington | $535,000 | $175,000 | -67.3% | 0.2% |
| DUPACO COMMUNITY | $175,000 | n/a | 0.2% | |
| NEWREZ LLC | $280,000 | $170,000 | -39.3% | 0.2% |
| Equity Prime Mortgage LLC | $155,000 | n/a | 0.2% | |
| T2 FINANCIAL LLC | $155,000 | n/a | 0.2% | |
| Third Federal Savings and Loan Association of Cleveland | $155,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $155,000 | n/a | 0.2% | |
| MidAmerica National Bank | $425,000 | $145,000 | -65.9% | 0.2% |
| ASCENTRA | $110,000 | $140,000 | 27.3% | 0.2% |
| Brighton Bank | $135,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $135,000 | n/a | 0.2% | |
| Nations Lending Corporation | $135,000 | n/a | 0.2% | |
| Petefish, Skiles & Co. | $135,000 | n/a | 0.2% | |
| The Huntington National Bank | $135,000 | n/a | 0.2% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $130,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
| Heartland Bank and Trust Company | $305,000 | $115,000 | -62.3% | 0.1% |
| R.I.A. Federal Credit Union | $430,000 | $115,000 | -73.3% | 0.1% |
| Union Savings Bank | $115,000 | n/a | 0.1% | |
| STATE BANK OFTOULON | $295,000 | $110,000 | -62.7% | 0.1% |
| ANDREWS FEDERAL CREDIT UNION | $105,000 | n/a | 0.1% | |
| Discover Bank | $35,000 | $105,000 | 200.0% | 0.1% |
| UNION HOME MORTGAGE CORP. | $100,000 | n/a | 0.1% | |
| Bankers' Bank | $95,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $90,000 | n/a | 0.1% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $185,000 | $85,000 | -54.1% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $85,000 | n/a | 0.1% | |
| The First National Bank of Ottawa | $45,000 | $85,000 | 88.9% | 0.1% |
| UNITED | $85,000 | n/a | 0.1% | |
| Coastal Community Bank | $25,000 | $80,000 | 220.0% | 0.1% |
| TIB The Independent Bankersbank | $125,000 | $75,000 | -40.0% | 0.1% |
| Havana National Bank | $70,000 | n/a | 0.1% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $65,000 | n/a | 0.1% | |
| S1L, Inc. | $65,000 | n/a | 0.1% | |
| SKYONE Federal Credit Union | $65,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $345,000 | $65,000 | -81.2% | 0.1% |
| UNITED HOME LOANS, INC. | $65,000 | n/a | 0.1% | |
| Blackhawk Bank & Trust | $55,000 | n/a | 0.1% | |
| Union Federal Savings and Loan Association | $410,000 | $45,000 | -89.0% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $360,000 | $25,000 | -93.1% | 0.0% |
| COMPEER FINANCIAL, FLCA | $475,000 | $25,000 | -94.7% | 0.0% |
| Home Loan Investment Bank, F.S.B. | $25,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $25,000 | n/a | 0.0% | |
| PNC Bank | $130,000 | $15,000 | -88.5% | 0.0% |
Galesburg's top lender by overall market share is CBI Bank & Trust, with 16.6% market share. In second place, with 12.3%, is WALKER & DUNLOP, LLC, having originated $10,885,000 in loans. In third place, with 6.9%, is QUICKEN LOANS, LLC, having originated $6,105,000 in loans. In fourth place, with 5.0%, is First Mid Bank & Trust, having originated $4,460,000 in loans. In fifth place, with 4.5%, is Midwest Bank, having originated $3,970,000 in loans.
Galesburg, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 505 | $58,215,000 | $115,277 |
| Refi | 104 | $19,480,000 | $187,308 |
| Home Improvement | 79 | $4,185,000 | $52,975 |
| Other | 51 | $2,295,000 | $45,000 |
| Cash Out Refi | 49 | $4,605,000 | $93,980 |
Galesburg's most frequently cited loan purpose was Home Purchase, with 505 originations. The 2nd most popular reason was Refi, with 104 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 278 | $33,050,000 | $118,885 |
| 7-8% | 221 | $21,555,000 | $97,534 |
| Over 8% | 134 | $7,260,000 | $54,179 |
| 5-6% | 77 | $20,255,000 | $263,052 |
During 2024, Galesburg's most frequently originated rate bucket was 6-7%, with 278 originations.
Loan Sizing (Galesburg, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 498 | $26,210,000 | $52,631 |
| $100k-200k | 215 | $29,615,000 | $137,744 |
| $200k-400k | 67 | $18,015,000 | $268,881 |
| $400k-600k | 5 | $2,505,000 | $501,000 |
| $600k-1000k | 2 | $1,550,000 | $775,000 |
| $Over $1MM | 1 | $10,885,000 | $10,885,000 |
Galesburg's loan sizing saw the bucket of loans from $100,000 or less with 498 originations, totaling $26,210,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 331 | $51,535,000 | $155,695 |
| 60-80% | 127 | $16,845,000 | $132,638 |
| 20-40% | 100 | $4,920,000 | $49,200 |
| Under 20% | 63 | $1,495,000 | $23,730 |
| 40-60% | 52 | $4,390,000 | $84,423 |
| Over 100% | 7 | $915,000 | $130,714 |
Galesburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 331 originations, totaling $51,535,000 in origination value.