Galesburg Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Galesburg averaged 6.82% for the week of 2024-06-06, compared to the national average of 6.99% for the same period.

The average rate for the prior week (2024-05-30) was 7.26% and one month ago for the week of 2024-05-02, the average rate was 7.25%.

Galesburg's average rate one year ago was 7.02%.

For refis of the same type during the week of 2024-06-06, the average rate was 6.99%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-06 6.99%
Galesburg 30 Year Fixed Rate 2024-06-06 6.82%
Galesburg 30 Year Fixed Rate Refi 2024-06-06 6.99%
Galesburg 15 Year Fixed Rate 2024-06-06 6.19%
Galesburg 15 Year Fixed Rate Refi 2024-06-06 6.19%
Galesburg 30 Year FHA 2024-06-06 6.6%
Galesburg 30 Year FHA Refi 2024-06-06 6.69%
Galesburg 30 Year USDA 2024-06-06 6.7%
Galesburg 30 Year USDA Refi 2024-06-06 6.7%
Galesburg 30 Year VA 2024-06-06 6.59%
Galesburg 30 Year VA Refi 2024-06-06 6.39%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Galesburg, IL.

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.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CBI Bank & Trust 58 7.39% $2,581
First Mid Bank & Trust 38 6.25% $2,033
I. H. MISSISSIPPI VALLEY CREDIT UNION 22 7.03% $2,139
Community Mortgage Banc Corporation 17 6.74% $2,678
QUICKEN LOANS, LLC 14 6.54% $5,207
INB 12 6.84% $1,975
FLAT BRANCH MORTGAGE, INC. 10 6.96% $3,237
CITIZENS EQUITY FIRST 8 6.45% $1,551
U.S. Bank 6 7.14% $2,740
Morton Community Bank 6 6.60% $1,976
Wells Fargo Bank 6 6.27% $2,658
UNITED WHOLESALE MORTGAGE, LLC 6 6.79% $3,848
Old National Bank 5 6.33% $2,835
GREENSTATE CREDIT UNION 5 6.60% $2,408
BROKER SOLUTIONS, INC. 4 7.02% $5,645
JPMorgan Chase Bank 4 7.75% $2,377
Deere Employees Credit Union 3 6.33% $2,509
Servion, Inc. 3 6.83% $3,541
Fortress Bank 3 5.96% $2,202
R.I.A. Federal Credit Union 2 6.63% $2,612
First Federal Bank 2 6.69% $2,329
NEWREZ LLC 2 6.88% $3,364
GUARANTEED RATE, INC. 2 7.76% $6,704
Busey Bank 2 6.19% $2,515
Mortgage Research Center, LLC 2 7.06% $1,909
American Bank and Trust Company 2 6.19% $3,638
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $3,621
COMPEER FINANCIAL, FLCA 2 7.69% $2,705
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 7.00% $3,369
ZILLOW HOME LOANS, LLC 1 7.63% $3,134
AMERISAVE MORTGAGE CORPORATION 1 5.88% $4,808
ASCENTRA 1 7.50% $2,293
Baxter Credit Union 1 6.63% $2,417
CALIBER HOME LOANS, INC. 1 5.63% $3,393
Carrollton Bank 1 6.00% $2,711
CIBM Bank 1 7.38% $4,581
Fifth Third Bank 1 6.63% $3,253
FIRST STATE MORTGAGE SERVICES, LLC 1 6.25% $5,795
GAS AND ELECTRIC CREDIT UNION 1 6.88% $2,657
Heartland Bank and Trust Company 1 7.22% $3,344
Heritage Bank 1 6.88% $2,260
HOMESIDE FINANCIAL, LLC 1 5.63% $2,298
IAA Credit Union 1 6.38% $1,829
Ixonia Bank 1 6.63% $4,465
LEADERONE FINANCIAL CORPORATION 1 6.38% $3,956
NAVY FEDERAL CREDIT UNION 1 6.13% $1,120
NP, Inc. 1 6.25% $3,249
PENNYMAC LOAN SERVICES, LLC 1 6.62% $5,727
Regions Bank 1 5.00% $8,239
The First National Bank of Ottawa 1 6.75% $2,430
TIB The Independent Bankersbank 1 5.75% $5,789
United Community Bank 1 7.00% $1,638
USAA Federal Savings Bank 1 5.63% $7,191
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.88% $2,113
VERITAS FUNDING, LLC 1 8.13% $2,865

Galesburg Average Closing Costs & Other Stats

Galesburg, IL's 55 lenders originated 825 loans during 2023. The total origination value was $85,295,000, with an average loan value of $103,388.

Galesburg's average closing costs are $2,966.

The top Galesburg lender as defined by loan originations is CBI Bank & Trust, with 58 loans originated. Their average total fees are $2,581, which is $549 higher than the next largest lender, First Mid Bank & Trust.

The lowest fee Galesburg lenders (with over 10 loans originated) are INB ($1,975), First Mid Bank & Trust ($2,033), I. H. MISSISSIPPI VALLEY CREDIT UNION ($2,139), CBI Bank & Trust ($2,581) and Community Mortgage Banc Corporation ($2,678).

The lowest rate Galesburg lenders (with over 10 loans originated) are First Mid Bank & Trust (6.25%), QUICKEN LOANS, LLC (6.54%), Community Mortgage Banc Corporation (6.74%), INB (6.84%) and FLAT BRANCH MORTGAGE, INC. (6.96%).

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
CBI Bank & Trust $17,035,000 $14,535,000 -14.7% 17.0%
First National Bank of Omaha $105,000 $8,965,000 8,438.1% 10.5%
First Mid Bank & Trust $5,615,000 $5,050,000 -10.1% 5.9%
QUICKEN LOANS, LLC $5,465,000 $4,910,000 -10.2% 5.8%
Midwest Bank $3,855,000 $4,030,000 4.5% 4.7%
INB $4,040,000 $3,495,000 -13.5% 4.1%
I. H. MISSISSIPPI VALLEY CREDIT UNION $5,060,000 $3,310,000 -34.6% 3.9%
Community Mortgage Banc Corporation $5,120,000 $2,440,000 -52.3% 2.9%
CITIZENS EQUITY FIRST $2,790,000 $2,370,000 -15.1% 2.8%
Mortgage Research Center, LLC $3,260,000 $2,150,000 -34.0% 2.5%
FLAT BRANCH MORTGAGE, INC. $2,280,000 $1,725,000 -24.3% 2.0%
UNITED WHOLESALE MORTGAGE, LLC $700,000 $1,430,000 104.3% 1.7%
Old National Bank $1,055,000 $1,405,000 33.2% 1.6%
Wells Fargo Bank $3,075,000 $1,390,000 -54.8% 1.6%
Morton Community Bank $2,055,000 $1,370,000 -33.3% 1.6%
GERSHMAN INVESTMENT CORP. $780,000 $1,205,000 54.5% 1.4%
U.S. Bank $675,000 $955,000 41.5% 1.1%
BROKER SOLUTIONS, INC. $190,000 $950,000 400.0% 1.1%
GREENSTATE CREDIT UNION $1,120,000 $925,000 -17.4% 1.1%
TRIAD FINANCIAL SERVICES, INC. $615,000 $920,000 49.6% 1.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,440,000 $890,000 -38.2% 1.0%
Servion, Inc. $1,005,000 $890,000 -11.4% 1.0%
PLAZA HOME MORTGAGE, INC. $435,000 $710,000 63.2% 0.8%
Fortress Bank $230,000 $625,000 171.7% 0.7%
USAA Federal Savings Bank $835,000 $625,000 -25.1% 0.7%
GUARANTEED RATE, INC. $545,000 $595,000 9.2% 0.7%
Bank of Farmington $535,000 n/a 0.6%
United Community Bank $510,000 $530,000 3.9% 0.6%
COMPEER FINANCIAL, FLCA $810,000 $475,000 -41.4% 0.6%
FIRST STATE MORTGAGE SERVICES, LLC $515,000 $470,000 -8.7% 0.6%
Barrington Bank & Trust Company, N.A. $405,000 $460,000 13.6% 0.5%
CRESCENT MORTGAGE COMPANY $520,000 $440,000 -15.4% 0.5%
R.I.A. Federal Credit Union $430,000 n/a 0.5%
MidAmerica National Bank $210,000 $425,000 102.4% 0.5%
HOMESIDE FINANCIAL, LLC $130,000 $420,000 223.1% 0.5%
Union Federal Savings and Loan Association $370,000 $410,000 10.8% 0.5%
CIBM Bank $365,000 n/a 0.4%
AMERISAVE MORTGAGE CORPORATION $600,000 $360,000 -40.0% 0.4%
SUCCESS MORTGAGE PARTNERS, INC. $95,000 $345,000 263.2% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $945,000 $330,000 -65.1% 0.4%
American Bank and Trust Company $690,000 $320,000 -53.6% 0.4%
Heartland Bank and Trust Company $305,000 n/a 0.4%
Heritage Bank $295,000 n/a 0.3%
Regions Bank $295,000 n/a 0.3%
STATE BANK OFTOULON $295,000 n/a 0.3%
NEWREZ LLC $245,000 $280,000 14.3% 0.3%
CALIBER HOME LOANS, INC. $1,145,000 $275,000 -76.0% 0.3%
IAA Credit Union $275,000 n/a 0.3%
Deere Employees Credit Union $315,000 $255,000 -19.0% 0.3%
RUHL MORTGAGE, LLC $1,100,000 $250,000 -77.3% 0.3%
JPMorgan Chase Bank $1,520,000 $240,000 -84.2% 0.3%
Ipava State Bank $395,000 $220,000 -44.3% 0.3%
SUN WEST MORTGAGE COMPANY, INC. $215,000 n/a 0.3%
Flanagan State Bank $530,000 $210,000 -60.4% 0.2%
Connexus Credit Union $450,000 $200,000 -55.6% 0.2%
Fifth Third Bank $230,000 $195,000 -15.2% 0.2%
Busey Bank $190,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $115,000 $185,000 60.9% 0.2%
Baxter Credit Union $185,000 n/a 0.2%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $165,000 n/a 0.2%
Allied First Bank,sb $85,000 $155,000 82.4% 0.2%
MORTGAGEONE, INC. $155,000 n/a 0.2%
NAVY FEDERAL CREDIT UNION $720,000 $150,000 -79.2% 0.2%
ZILLOW HOME LOANS, LLC $150,000 n/a 0.2%
NP, Inc. $145,000 n/a 0.2%
PNC Bank $45,000 $130,000 188.9% 0.2%
GAS AND ELECTRIC CREDIT UNION $75,000 $125,000 66.7% 0.1%
TIB The Independent Bankersbank $45,000 $125,000 177.8% 0.1%
First Federal Bank $135,000 $120,000 -11.1% 0.1%
Ixonia Bank $75,000 $120,000 60.0% 0.1%
Carrington Mortgage Services, LLC $95,000 $115,000 21.1% 0.1%
LOANDEPOT.COM, LLC $230,000 $115,000 -50.0% 0.1%
PREMIA MORTGAGE, LLC $855,000 $115,000 -86.5% 0.1%
ASCENTRA $310,000 $110,000 -64.5% 0.1%
CROSSCOUNTRY MORTGAGE, LLC $65,000 $95,000 46.2% 0.1%
NATIONS DIRECT MORTGAGE, LLC $430,000 $95,000 -77.9% 0.1%
LEADERONE FINANCIAL CORPORATION $90,000 n/a 0.1%
Associated Bank $350,000 $85,000 -75.7% 0.1%
FBC MORTGAGE, LLC $85,000 n/a 0.1%
NFM, INC. $75,000 $85,000 13.3% 0.1%
PENNYMAC LOAN SERVICES, LLC $350,000 $85,000 -75.7% 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $85,000 n/a 0.1%
SENB Bank $75,000 n/a 0.1%
COMMUNITY STATE BANK $70,000 n/a 0.1%
Carrollton Bank $65,000 n/a 0.1%
Stifel Bank and Trust $210,000 $65,000 -69.0% 0.1%
GUILD MORTGAGE COMPANY $55,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $95,000 $55,000 -42.1% 0.1%
VERITAS FUNDING, LLC $55,000 n/a 0.1%
The First National Bank of Ottawa $45,000 n/a 0.1%
Discover Bank $85,000 $35,000 -58.8% 0.0%
ROYAL UNITED MORTGAGE LLC $115,000 $35,000 -69.6% 0.0%
Coastal Community Bank $25,000 n/a 0.0%
York Traditions Bank $15,000 n/a 0.0%
Two Rivers Bank & Trust $5,000 n/a 0.0%

Galesburg's top lender by overall market share is CBI Bank & Trust, with 17.0% market share. In second place, with 10.5%, is First National Bank of Omaha, having originated $8,965,000 in loans. In third place, with 5.9%, is First Mid Bank & Trust, having originated $5,050,000 in loans. In fourth place, with 5.8%, is QUICKEN LOANS, LLC, having originated $4,910,000 in loans. In fifth place, with 4.7%, is Midwest Bank, having originated $4,030,000 in loans.


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

Realtor.com - Galesburg (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 $104,550 (1.3%) $137,069 (0.8%) 0.00 218
2018-02-01 $99,375 (-4.8%) $134,147 (-0.8%) 0.00 216
2018-03-01 $105,000 (-5.0%) $144,971 (2.5%) 0.00 232
2018-04-01 $112,950 (-1.7%) $151,595 (-2.6%) 0.00 243
2018-05-01 $109,800 (-10.7%) $145,199 (-12.1%) 0.00 261
2018-06-01 $110,700 (-12.5%) $151,052 (-9.9%) 0.00 282
2018-07-01 $111,375 (-10.2%) $148,758 (-9.9%) 0.00 308
2018-08-01 $99,250 (-20.6%) $138,257 (-18.2%) 0.00 329
2018-09-01 $97,400 (-22.5%) $131,576 (-22.0%) 0.00 324
2018-10-01 $94,500 (-20.2%) $130,682 (-19.7%) 0.00 312
2018-11-01 $94,975 (-14.3%) $132,992 (-14.5%) 0.00 278
2018-12-01 $99,500 (-5.2%) $130,497 (-6.8%) 0.00 234
2019-01-01 $103,725 (-0.8%) $131,890 (-3.8%) 0.00 224
2019-02-01 $107,750 (8.4%) $132,685 (-1.1%) 0.00 214
2019-03-01 $110,500 (5.2%) $140,202 (-3.3%) 0.00 198
2019-04-01 $113,450 (0.4%) $147,762 (-2.5%) 0.00 187
2019-05-01 $119,900 (9.2%) $155,489 (7.1%) 0.00 196
2019-06-01 $112,900 (2.0%) $152,152 (0.7%) 0.00 214
2019-07-01 $108,225 (-2.8%) $155,451 (4.5%) 0.00 220
2019-08-01 $96,964 (-2.3%) $155,664 (12.6%) 0.00 224
2019-09-01 $92,484 (-5.1%) $157,573 (19.8%) 0.00 233
2019-10-01 $89,250 (-5.6%) $158,846 (21.6%) 0.00 238
2019-11-01 $84,900 (-10.6%) $151,056 (13.6%) 0.00 241
2019-12-01 $84,925 (-14.7%) $151,227 (15.9%) 0.00 221
2020-01-01 $81,975 (-21.0%) $147,254 (11.7%) 0.00 197
2020-02-01 $84,900 (-21.2%) $151,073 (13.9%) 0.00 178
2020-03-01 $94,550 (-14.4%) $159,932 (14.1%) 0.00 182
2020-04-01 $96,250 (-15.2%) $138,955 (-6.0%) 0.00 184
2020-05-01 $101,900 (-15.0%) $166,957 (7.4%) 0.00 185
2020-06-01 $104,225 (-7.7%) $167,076 (9.8%) 0.00 174
2020-07-01 $109,450 (1.1%) $171,686 (10.4%) 0.00 167
2020-08-01 $107,000 (10.4%) $172,789 (11.0%) 0.00 141
2020-09-01 $96,950 (4.8%) $165,100 (4.8%) 0.00 131
2020-10-01 $84,450 (-5.4%) $160,105 (0.8%) 0.00 122
2020-11-01 $75,625 (-10.9%) $141,649 (-6.2%) 0.00 130
2020-12-01 $75,875 (-10.7%) $140,960 (-6.8%) 0.00 107
2021-01-01 $72,000 (-12.2%) $113,415 (-23.0%) 0.00 101
2021-02-01 $79,900 (-5.9%) $117,263 (-22.4%) 0.00 97
2021-03-01 $82,700 (-12.5%) $130,077 (-18.7%) 0.00 86
2021-04-01 $87,900 (-8.7%) $136,719 (-1.6%) 0.00 71
2021-05-01 $79,900 (-21.6%) $133,530 (-20.0%) 0.00 62
2021-06-01 $95,900 (-8.0%) $150,559 (-9.9%) 0.00 71
2021-07-01 $99,900 (-8.7%) $158,490 (-7.7%) 0.00 83
2021-08-01 $117,450 (9.8%) $157,351 (-8.9%) 0.00 82
2021-09-01 $129,950 (34.0%) $177,226 (7.3%) 0.00 94
2021-10-01 $110,900 (31.3%) $169,451 (5.8%) 0.00 97
2021-11-01 $102,200 (35.1%) $146,232 (3.2%) 0.00 104
2021-12-01 $96,375 (27.0%) $136,992 (-2.8%) 0.00 100
2022-01-01 $93,250 (29.5%) $130,841 (15.4%) 0.00 80
2022-02-01 $100,425 (25.7%) $145,894 (24.4%) 0.00 58
2022-03-01 $99,000 (19.7%) $149,532 (15.0%) 0.00 55
2022-04-01 $102,500 (16.6%) $162,160 (18.6%) 0.00 72
2022-05-01 $99,175 (24.1%) $158,363 (18.6%) 0.00 78
2022-06-01 $93,950 (-2.0%) $155,165 (3.1%) 0.00 67
2022-07-01 $96,200 (-3.7%) $160,344 (1.2%) 0.00 73
2022-08-01 $94,450 (-19.6%) $166,561 (5.9%) 0.00 74
2022-09-01 $99,575 (-23.4%) $163,119 (-8.0%) 0.00 78
2022-10-01 $114,950 (3.7%) $168,854 (-0.4%) 0.00 82
2022-11-01 $117,400 (14.9%) $159,848 (9.3%) 0.00 99
2022-12-01 $115,000 (19.3%) $166,887 (21.8%) 0.00 89
2023-01-01 $114,900 (23.2%) $160,181 (22.4%) 0.00 90
2023-02-01 $125,300 (24.8%) $173,602 (19.0%) 0.00 82
2023-03-01 $118,300 (19.5%) $173,322 (15.9%) 0.00 66
2023-04-01 $143,500 (40.0%) $198,608 (22.5%) 0.00 60
2023-05-01 $127,425 (28.5%) $195,406 (23.4%) 0.00 72
2023-06-01 $127,950 (36.2%) $203,371 (31.1%) 0.00 79
2023-07-01 $132,900 (38.2%) $205,653 (28.3%) 0.00 72
2023-08-01 $125,175 (32.5%) $203,185 (22.0%) 0.00 80
2023-09-01 $114,750 (15.2%) $173,496 (6.4%) 0.00 68
2023-10-01 $110,500 (-3.9%) $155,671 (-7.8%) 0.00 79
2023-11-01 $110,500 (-5.9%) $148,117 (-7.3%) 0.00 79
2023-12-01 $112,450 (-2.2%) $149,250 (-10.6%) 0.00 74
2024-01-01 $108,225 (-5.8%) $148,685 (-7.2%) 0.00 71
2024-02-01 $94,950 (-24.2%) $144,316 (-16.9%) 0.00 68
2024-03-01 $122,400 (3.5%) $183,432 (5.8%) 0.00 67
2024-04-01 $143,475 (0.0%) $205,836 (3.6%) 0.00 72
2024-05-01 $157,475 (23.6%) $212,265 (8.6%) 0.00 88
Galesburg's median listing price for 2024-05-01 was $157,475, a difference of $30,050 (23.6%) versus the prior year and $14,000 versus the prior month.

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

Galesburg's average listing price for 2024-05-01 was $212,265, a difference of $16,859 (8.6%) versus the prior year and $6,429 versus the prior month.

For the 2024-05-01 period, Galesburg had 88 MLS listings, a difference of 16 listings (22%) versus the prior month and 16 listings (22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,526 sqft
2018-02-01 0 days 1,506 sqft
2018-03-01 0 days 1,521 sqft
2018-04-01 0 days 1,557 sqft
2018-05-01 0 days 1,517 sqft
2018-06-01 0 days 1,515 sqft
2018-07-01 0 days 1,522 sqft
2018-08-01 0 days 1,488 sqft
2018-09-01 0 days 1,488 sqft
2018-10-01 0 days 1,502 sqft
2018-11-01 0 days 1,483 sqft
2018-12-01 0 days 1,501 sqft
2019-01-01 0 days 1,546 sqft
2019-02-01 0 days 1,544 sqft
2019-03-01 0 days 1,569 sqft
2019-04-01 0 days 1,588 sqft
2019-05-01 0 days 1,603 sqft
2019-06-01 0 days 1,664 sqft
2019-07-01 0 days 1,664 sqft
2019-08-01 0 days 1,591 sqft
2019-09-01 0 days 1,579 sqft
2019-10-01 0 days 1,571 sqft
2019-11-01 0 days 1,532 sqft
2019-12-01 0 days 1,524 sqft
2020-01-01 0 days 1,532 sqft
2020-02-01 0 days 1,536 sqft
2020-03-01 0 days 1,545 sqft
2020-04-01 0 days 1,539 sqft
2020-05-01 0 days 1,566 sqft
2020-06-01 0 days 1,542 sqft
2020-07-01 0 days 1,646 sqft
2020-08-01 0 days 1,640 sqft
2020-09-01 0 days 1,606 sqft
2020-10-01 0 days 1,581 sqft
2020-11-01 0 days 1,555 sqft
2020-12-01 0 days 1,532 sqft
2021-01-01 0 days 1,440 sqft
2021-02-01 0 days 1,371 sqft
2021-03-01 0 days 1,400 sqft
2021-04-01 0 days 1,582 sqft
2021-05-01 0 days 1,510 sqft
2021-06-01 0 days 1,442 sqft
2021-07-01 0 days 1,464 sqft
2021-08-01 0 days 1,586 sqft
2021-09-01 0 days 1,632 sqft
2021-10-01 0 days 1,473 sqft
2021-11-01 0 days 1,437 sqft
2021-12-01 0 days 1,462 sqft
2022-01-01 0 days 1,506 sqft
2022-02-01 0 days 1,412 sqft
2022-03-01 0 days 1,399 sqft
2022-04-01 0 days 1,422 sqft
2022-05-01 0 days 1,472 sqft
2022-06-01 0 days 1,452 sqft
2022-07-01 0 days 1,400 sqft
2022-08-01 0 days 1,410 sqft
2022-09-01 0 days 1,349 sqft
2022-10-01 0 days 1,380 sqft
2022-11-01 0 days 1,411 sqft
2022-12-01 0 days 1,404 sqft
2023-01-01 0 days 1,398 sqft
2023-02-01 0 days 1,412 sqft
2023-03-01 0 days 1,429 sqft
2023-04-01 0 days 1,420 sqft
2023-05-01 0 days 1,448 sqft
2023-06-01 0 days 1,548 sqft
2023-07-01 0 days 1,637 sqft
2023-08-01 0 days 1,642 sqft
2023-09-01 0 days 1,602 sqft
2023-10-01 0 days 1,521 sqft
2023-11-01 0 days 1,389 sqft
2023-12-01 0 days 1,521 sqft
2024-01-01 0 days 1,450 sqft
2024-02-01 0 days 1,384 sqft
2024-03-01 0 days 1,466 sqft
2024-04-01 0 days 1,724 sqft
2024-05-01 0 days 1,862 sqft
Galesburg's median listing age (time on market) for 2024-05-01 was 0 days.

Galesburg's median square footage for active listings during the 2024-05-01 period was 1,862 sqft. One year prior, the average listing was 1,448 sqft.

Galesburg, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 527 $58,395,000 $110,806
Refi 105 $16,315,000 $155,381
Home Improvement 79 $3,295,000 $41,709
Other 73 $2,975,000 $40,753
Cash Out Refi 41 $4,315,000 $105,244

Galesburg's most frequently cited loan purpose was Home Purchase, with 527 originations. The 2nd most popular reason was Refi, with 105 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
7-8% 256 $23,010,000 $89,883
6-7% 231 $26,605,000 $115,173
Over 8% 118 $5,690,000 $48,220
5-6% 93 $19,755,000 $212,419
<2.5% 7 $35,000 $5,000
4-5% 3 $515,000 $171,667
3-4% 1 $105,000 $105,000

During 2023, Galesburg's most frequently originated rate bucket was 7-8%, with 256 originations.

Loan Sizing (Galesburg, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 543 $27,415,000 $50,488
$100k-200k 210 $28,880,000 $137,524
$200k-400k 66 $17,720,000 $268,485
$400k-600k 5 $2,315,000 $463,000
$Over $1MM 1 $8,965,000 $8,965,000

Galesburg's loan sizing saw the bucket of loans from $100,000 or less with 543 originations, totaling $27,415,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 337 $40,115,000 $119,036
60-80% 128 $23,700,000 $185,156
20-40% 95 $3,515,000 $37,000
Under 20% 64 $1,880,000 $29,375
40-60% 49 $5,055,000 $103,163
Over 100% 2 $380,000 $190,000

Galesburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 337 originations, totaling $40,115,000 in origination value.