Ottawa Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Ottawa averaged 7.14% for the week of 2024-06-13, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-06) was 6.78% and one month ago for the week of 2024-05-09, the average rate was 6.98%.

Ottawa's average rate one year ago was 6.5%.

For refis of the same type during the week of 2024-06-13, the average rate was 7.15%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-13 6.95%
Ottawa 30 Year Fixed Rate 2024-06-13 7.14%
Ottawa 30 Year Fixed Rate Refi 2024-06-13 7.15%
Ottawa 15 Year Fixed Rate 2024-06-13 6.37%
Ottawa 15 Year Fixed Rate Refi 2024-06-13 6.07%
Ottawa 30 Year FHA 2024-06-13 6.58%
Ottawa 30 Year FHA Refi 2024-06-13 6.51%
Ottawa 30 Year USDA 2024-06-13 6.51%
Ottawa 30 Year USDA Refi 2024-06-13 6.61%
Ottawa 30 Year VA 2024-06-13 6.67%
Ottawa 30 Year VA Refi 2024-06-13 6.42%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ottawa, IL.

Ottawa 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 Ottawa, 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
First State Bank 79 6.57% $1,822
Ottawa Savings Bank 61 6.49% $3,020
FINANCIAL PLUS 56 6.50% $1,228
The First National Bank of Ottawa 53 6.54% $2,827
First Federal Savings Bank 49 6.82% $2,769
Heartland Bank and Trust Company 43 6.71% $2,350
Central Bank Illinois 37 6.58% $2,227
QUICKEN LOANS, LLC 35 7.09% $5,293
Wells Fargo Bank 29 6.63% $3,295
GUARANTEED RATE, INC. 27 6.77% $5,119
Community Mortgage Banc Corporation 24 6.96% $2,402
FIRST CENTENNIAL MORTGAGE CORPORATION 17 6.66% $4,634
LOANDEPOT.COM, LLC 16 7.24% $4,822
CALIBER HOME LOANS, INC. 13 6.57% $4,697
JPMorgan Chase Bank 13 7.08% $3,613
Old Second National Bank 13 6.75% $3,603
NEWREZ LLC 11 7.31% $4,846
UNITED WHOLESALE MORTGAGE, LLC 10 7.26% $5,192
COMPEER FINANCIAL, FLCA 9 7.89% $3,673
PLANET HOME LENDING, LLC 8 6.47% $3,255
U.S. Bank 7 7.14% $4,142
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 7.12% $6,991
FIRST STATE MORTGAGE SERVICES, LLC 7 6.75% $3,719
First National Bank of Omaha 6 6.71% $3,529
Midland States Bank 6 6.71% $3,931
The Huntington National Bank 6 7.15% $5,367
CROSSCOUNTRY MORTGAGE, LLC 5 6.97% $5,660
AMERICAN PACIFIC MORTGAGE CORPORATION 5 7.02% $5,088
Busey Bank 5 6.20% $2,938
COMPASS MORTGAGE, INC. 5 7.30% $5,853
FLAT BRANCH MORTGAGE, INC. 5 6.50% $3,608
GREENSTATE CREDIT UNION 5 6.25% $3,804
Grundy Bank 5 6.98% $2,715
Old National Bank 5 7.33% $3,070
Neighborhood Loans, Inc. 4 6.25% $6,184
Flanagan State Bank 4 7.09% $4,030
Key Mortgage Services, Inc. 4 6.50% $5,278
Mortgage Research Center, LLC 4 6.69% $3,301
PENNYMAC LOAN SERVICES, LLC 4 7.11% $7,404
NUMARK CREDIT UNION 4 6.34% $3,091
CITIZENS EQUITY FIRST 3 6.67% $1,086
The Federal Savings Bank 3 6.50% $5,125
Ixonia Bank 3 6.71% $6,631
GUARANTEED RATE AFFINITY, LLC 3 7.29% $4,143
BAY EQUITY LLC 3 6.45% $4,442
BROKER SOLUTIONS, INC. 3 7.21% $4,573
Mr. Cooper ( Nationstar Mortgage ) 3 6.75% $5,857
EMBRACE HOME LOANS, INC. 2 8.00% $4,961
Fifth Third Bank 2 7.25% $4,081
CMG MORTGAGE, INC. 2 6.62% $4,925
Citibank 2 6.63% $4,107
CIBM Bank 2 6.50% $3,530
AmeriHome Mortgage Company, LLC 2 7.31% $4,318
Carrington Mortgage Services, LLC 2 6.50% $6,467
INB 2 6.69% $2,356
MEMBER FIRST MORTGAGE, LLC 2 6.38% $4,196
BETTER MORTGAGE CORPORATION 2 6.69% $2,566
Morton Community Bank 2 7.69% $2,761
Nations Lending Corporation 2 6.63% $1,813
Barrington Bank & Trust Company, N.A. 2 7.44% $7,268
PARLAY MORTGAGE & PROPERTY, INC. 2 6.75% $7,479
Plains Commerce Bank 2 6.63% $6,853
PLAZA HOME MORTGAGE, INC. 2 6.81% $4,281
ROYAL UNITED MORTGAGE LLC 2 6.88% $7,289
Servion, Inc. 2 7.00% $3,868
THE ANDERSON FINANCIAL GROUP, INC. 2 6.63% $5,083
Discover Bank 2 8.62% $0
Liberty Bank for Savings 1 6.38% $3,745
Flagstar Bank, FSB 1 7.13% $4,361
RUHL MORTGAGE, LLC 1 6.50% $3,158
DRAPER AND KRAMER MORTGAGE CORP. 1 6.50% $2,748
MLD MORTGAGE INC. 1 7.00% $3,996
Morgan Stanley Private Bank 1 6.35% $3,993
First Savings Bank 1 5.88% $7,407
Stifel Bank and Trust 1 6.88% $3,061
First National Bank of America 1 9.87% $6,025
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $7,145
DuTrac Community Credit Union 1 6.13% $3,364
NAVY FEDERAL CREDIT UNION 1 6.25% $1,950
First Mid Bank & Trust 1 5.63% $2,318
First Federal Bank 1 7.75% $7,054
NexBank 1 5.75% $7,228
CoVantage Credit Union 1 6.13% $4,681
AMCAP MORTGAGE, LTD. 1 7.50% $5,132
Allied First Bank,sb 1 6.38% $3,101
Bank of England 1 7.13% $3,675
Arvest Bank 1 7.00% $2,587
First American Bank 1 5.50% $3,022
PENTAGON FEDERAL CREDIT UNION 1 6.13% $4,339
Peoples Bank 1 6.00% $3,862
Petefish, Skiles & Co. 1 6.25% $1,839
AMERISAVE MORTGAGE CORPORATION 1 7.13% $5,529
Bank of America 1 6.38% $3,441
THRIVENT Federal Credit Union 1 6.75% $4,723
PNC Bank 1 7.50% $5,047
POINT Mortgage 1 7.25% $4,852
PROPER RATE, LLC 1 7.88% $3,696
Prosperity Home Mortgage, LLC 1 7.38% $4,018
PROVIDENT FUNDING ASSOCIATES, L.P. 1 7.00% $4,236
PURDUE FEDERAL CREDIT UNION 1 6.88% $2,118
AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $5,673
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $7,150
CHURCHILL MORTGAGE CORPORATION 1 6.38% $4,383
GUILD MORTGAGE COMPANY 1 7.50% $4,388
HEARTLAND 1 7.13% $1,684
Associated Bank 1 6.75% $5,784
IAA Credit Union 1 6.63% $2,469
I. H. MISSISSIPPI VALLEY CREDIT UNION 1 7.38% $3,199
ILLINOIS STATE CREDIT UNION 1 7.13% $2,450
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.63% $5,898
FREEDOM MORTGAGE CORPORATION 1 7.63% $3,282
CARDINAL FINANCIAL 1 5.88% $7,554
UNION HOME MORTGAGE CORP. 1 7.38% $4,946
LENDSURE MORTGAGE CORP. 1 10.50% $6,854

Ottawa Average Closing Costs & Other Stats

Ottawa, IL's 114 lenders originated 2,028 loans during 2023. The total origination value was $278,180,000, with an average loan value of $137,170.

Ottawa's average closing costs are $3,687.

The top Ottawa lender as defined by loan originations is First State Bank, with 79 loans originated. Their average total fees are $1,822, which is $1,198 lower than the next largest lender, Ottawa Savings Bank.

The lowest fee Ottawa lenders (with over 10 loans originated) are FINANCIAL PLUS ($1,228), First State Bank ($1,822), Central Bank Illinois ($2,227), Heartland Bank and Trust Company ($2,350) and Community Mortgage Banc Corporation ($2,402).

The lowest rate Ottawa lenders (with over 10 loans originated) are Ottawa Savings Bank (6.49%), FINANCIAL PLUS (6.50%), The First National Bank of Ottawa (6.54%), First State Bank (6.57%) and CALIBER HOME LOANS, INC. (6.57%).

Ottawa, 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
First State Bank $26,640,000 $19,395,000 -27.2% 7.0%
QUICKEN LOANS, LLC $21,260,000 $14,885,000 -30.0% 5.4%
Central Bank Illinois $13,305,000 $14,260,000 7.2% 5.1%
First Federal Savings Bank $12,170,000 $13,305,000 9.3% 4.8%
Ottawa Savings Bank $20,275,000 $11,815,000 -41.7% 4.2%
FINANCIAL PLUS $16,590,000 $9,490,000 -42.8% 3.4%
GUARANTEED RATE, INC. $12,915,000 $8,865,000 -31.4% 3.2%
The First National Bank of Ottawa $12,330,000 $8,135,000 -34.0% 2.9%
Wells Fargo Bank $13,520,000 $6,720,000 -50.3% 2.4%
Heartland Bank and Trust Company $6,315,000 $6,645,000 5.2% 2.4%
LOANDEPOT.COM, LLC $5,435,000 $6,570,000 20.9% 2.4%
Mortgage Research Center, LLC $4,630,000 $5,805,000 25.4% 2.1%
FIRST CENTENNIAL MORTGAGE CORPORATION $6,050,000 $5,235,000 -13.5% 1.9%
Community Mortgage Banc Corporation $5,165,000 $4,440,000 -14.0% 1.6%
Streator Onized Credit Union $3,400,000 $4,415,000 29.9% 1.6%
Old Second National Bank $5,115,000 $4,275,000 -16.4% 1.5%
U.S. Bank $1,985,000 $4,150,000 109.1% 1.5%
UNITED WHOLESALE MORTGAGE, LLC $3,745,000 $4,025,000 7.5% 1.4%
CALIBER HOME LOANS, INC. $12,465,000 $4,005,000 -67.9% 1.4%
COMPEER FINANCIAL, FLCA $2,795,000 $3,605,000 29.0% 1.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,110,000 $3,345,000 7.6% 1.2%
Old National Bank $3,190,000 $3,345,000 4.9% 1.2%
First National Bank of Omaha $4,435,000 $2,945,000 -33.6% 1.1%
NEWREZ LLC $1,445,000 $2,880,000 99.3% 1.0%
Hometown National Bank $3,040,000 $2,820,000 -7.2% 1.0%
Grundy Bank $2,500,000 $2,480,000 -0.8% 0.9%
Midland States Bank $5,220,000 $2,425,000 -53.5% 0.9%
JPMorgan Chase Bank $5,640,000 $2,395,000 -57.5% 0.9%
CROSSCOUNTRY MORTGAGE, LLC $3,815,000 $2,360,000 -38.1% 0.8%
COMPASS MORTGAGE, INC. $3,455,000 $2,125,000 -38.5% 0.8%
FIRST STATE MORTGAGE SERVICES, LLC $5,045,000 $2,125,000 -57.9% 0.8%
The Federal Savings Bank $1,475,000 $2,110,000 43.1% 0.8%
Neighborhood Loans, Inc. $1,830,000 $1,765,000 -3.6% 0.6%
The Huntington National Bank $1,450,000 $1,680,000 15.9% 0.6%
GUARANTEED RATE AFFINITY, LLC $1,220,000 $1,590,000 30.3% 0.6%
AMERICAN PACIFIC MORTGAGE CORPORATION $3,470,000 $1,550,000 -55.3% 0.6%
PLANET HOME LENDING, LLC $1,485,000 $1,530,000 3.0% 0.6%
AMERISAVE MORTGAGE CORPORATION $1,915,000 $1,495,000 -21.9% 0.5%
Bank of America $1,160,000 $1,480,000 27.6% 0.5%
Resource Bank, N.A. $1,430,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $3,325,000 $1,250,000 -62.4% 0.4%
GREENSTATE CREDIT UNION $245,000 $1,235,000 404.1% 0.4%
PENNYMAC LOAN SERVICES, LLC $1,245,000 $1,195,000 -4.0% 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $1,400,000 $1,160,000 -17.1% 0.4%
Flanagan State Bank $1,165,000 $1,095,000 -6.0% 0.4%
Peoples National Bank of Kewanee $1,095,000 n/a 0.4%
Barrington Bank & Trust Company, N.A. $770,000 $1,030,000 33.8% 0.4%
St Charles Bank & Trust $1,025,000 n/a 0.4%
GUILD MORTGAGE COMPANY $995,000 n/a 0.4%
NUMARK CREDIT UNION $305,000 $955,000 213.1% 0.3%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $155,000 $935,000 503.2% 0.3%
FLAT BRANCH MORTGAGE, INC. $915,000 $900,000 -1.6% 0.3%
NAVY FEDERAL CREDIT UNION $2,825,000 $890,000 -68.5% 0.3%
Morton Community Bank $765,000 $875,000 14.4% 0.3%
Plains Commerce Bank $145,000 $870,000 500.0% 0.3%
Nations Lending Corporation $855,000 n/a 0.3%
Carrington Mortgage Services, LLC $580,000 $820,000 41.4% 0.3%
Ixonia Bank $220,000 $795,000 261.4% 0.3%
Busey Bank $570,000 $760,000 33.3% 0.3%
United Community Bank $1,540,000 $760,000 -50.6% 0.3%
PENTAGON FEDERAL CREDIT UNION $270,000 $740,000 174.1% 0.3%
CIBM Bank $275,000 $730,000 165.5% 0.3%
Bank of Pontiac $635,000 $710,000 11.8% 0.3%
BMO Harris Bank $845,000 $700,000 -17.2% 0.3%
BROKER SOLUTIONS, INC. $720,000 $700,000 -2.8% 0.3%
North Shore Trust and Savings $690,000 n/a 0.2%
THE ANDERSON FINANCIAL GROUP, INC. $665,000 $675,000 1.5% 0.2%
BAY EQUITY LLC $330,000 $660,000 100.0% 0.2%
First Savings Bank $390,000 $610,000 56.4% 0.2%
Key Mortgage Services, Inc. $240,000 $610,000 154.2% 0.2%
CITIZENS EQUITY FIRST $865,000 $600,000 -30.6% 0.2%
HOMEBRIDGE FINANCIAL SERVICES, INC. $585,000 n/a 0.2%
Citibank $105,000 $575,000 447.6% 0.2%
FREEDOM MORTGAGE CORPORATION $1,430,000 $565,000 -60.5% 0.2%
SUN WEST MORTGAGE COMPANY, INC. $220,000 $565,000 156.8% 0.2%
Fifth Third Bank $1,295,000 $560,000 -56.8% 0.2%
Century Mortgage Company DBA Century Lending Company $730,000 $555,000 -24.0% 0.2%
Flagstar Bank, FSB $3,570,000 $550,000 -84.6% 0.2%
Allied First Bank,sb $440,000 $545,000 23.9% 0.2%
PNC Bank $1,625,000 $535,000 -67.1% 0.2%
STATE BANK OFTOULON $520,000 n/a 0.2%
UNION HOME MORTGAGE CORP. $580,000 $520,000 -10.3% 0.2%
USAA Federal Savings Bank $1,160,000 $515,000 -55.6% 0.2%
Prosperity Home Mortgage, LLC $285,000 $505,000 77.2% 0.2%
Discover Bank $255,000 $495,000 94.1% 0.2%
DRAPER AND KRAMER MORTGAGE CORP. $400,000 $490,000 22.5% 0.2%
PARLAY MORTGAGE & PROPERTY, INC. $380,000 $480,000 26.3% 0.2%
PLAZA HOME MORTGAGE, INC. $2,325,000 $455,000 -80.4% 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $870,000 $455,000 -47.7% 0.2%
Associated Bank $7,200,000 $445,000 -93.8% 0.2%
Servion, Inc. $810,000 $445,000 -45.1% 0.2%
Citizens Bank $375,000 $440,000 17.3% 0.2%
First State Bank of Forrest $35,000 $430,000 1,128.6% 0.2%
ROYAL UNITED MORTGAGE LLC $280,000 $430,000 53.6% 0.2%
MID AMERICA MORTGAGE, INC. $420,000 n/a 0.2%
Liberty Bank for Savings $405,000 n/a 0.1%
First American Bank $625,000 $400,000 -36.0% 0.1%
BETTER MORTGAGE CORPORATION $485,000 $375,000 -22.7% 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $370,000 n/a 0.1%
NEW DAY FINANCIAL, LLC $1,035,000 $370,000 -64.3% 0.1%
ZILLOW HOME LOANS, LLC $515,000 $365,000 -29.1% 0.1%
CMG MORTGAGE, INC. $495,000 $360,000 -27.3% 0.1%
Stifel Bank and Trust $355,000 n/a 0.1%
21ST MORTGAGE CORPORATION $170,000 $350,000 105.9% 0.1%
CARDINAL FINANCIAL $1,175,000 $350,000 -70.2% 0.1%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $145,000 $350,000 141.4% 0.1%
ILLINOIS STATE CREDIT UNION $295,000 $350,000 18.6% 0.1%
MEMBER FIRST MORTGAGE, LLC $350,000 n/a 0.1%
Farmers National Bank $355,000 $340,000 -4.2% 0.1%
INB $65,000 $340,000 423.1% 0.1%
PREMIA MORTGAGE, LLC $305,000 $325,000 6.6% 0.1%
Cf Bank $315,000 n/a 0.1%
DuTrac Community Credit Union $315,000 n/a 0.1%
STOCKTON MORTGAGE CORPORATION $305,000 n/a 0.1%
Wyndham Capital Mortgage, Inc. $390,000 $305,000 -21.8% 0.1%
ACADEMY MORTGAGE CORPORATION $290,000 n/a 0.1%
AmeriHome Mortgage Company, LLC $475,000 $290,000 -38.9% 0.1%
THRIVENT Federal Credit Union $140,000 $290,000 107.1% 0.1%
COMMUNITY STATE BANK $280,000 n/a 0.1%
Mortgage Assurance Inc. $275,000 n/a 0.1%
Paramount Residential Mortgage Group, Inc. $310,000 $275,000 -11.3% 0.1%
PROPER RATE, LLC $275,000 n/a 0.1%
PROVIDENT FUNDING ASSOCIATES, L.P. $145,000 $275,000 89.7% 0.1%
Sauk Valley Bank & Trust Company $35,000 $270,000 671.4% 0.1%
Morgan Stanley Private Bank $400,000 $265,000 -33.8% 0.1%
First Federal Bank $255,000 n/a 0.1%
FIRST MORTGAGE COMPANY, INC. $255,000 n/a 0.1%
MLD MORTGAGE INC. $255,000 n/a 0.1%
RUHL MORTGAGE, LLC $235,000 n/a 0.1%
Goodfield State Bank $15,000 $230,000 1,433.3% 0.1%
Mutual Federal Bank $690,000 $215,000 -68.8% 0.1%
Pacor Mortgage Corp $400,000 $215,000 -46.3% 0.1%
DUPACO COMMUNITY $65,000 $205,000 215.4% 0.1%
Merchants and Manufacturers Bank $225,000 $205,000 -8.9% 0.1%
Midwest Bank $205,000 n/a 0.1%
United Fidelity Funding Corp. $205,000 n/a 0.1%
LENDINGONE, LLC $200,000 n/a 0.1%
CHURCHILL MORTGAGE CORPORATION $55,000 $195,000 254.5% 0.1%
SENB Bank $115,000 $195,000 69.6% 0.1%
GENEVA FINANCIAL, LLC $75,000 $190,000 153.3% 0.1%
Arvest Bank $185,000 n/a 0.1%
Merchants Mortgage & Trust Corporation $185,000 n/a 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $185,000 n/a 0.1%
Peoples Bank $325,000 $175,000 -46.2% 0.1%
Petefish, Skiles & Co. $175,000 n/a 0.1%
FNBC Bank & Trust $155,000 $165,000 6.5% 0.1%
NATIONS DIRECT MORTGAGE, LLC $435,000 $165,000 -62.1% 0.1%
GREAT LAKES $35,000 $155,000 342.9% 0.1%
Ipava State Bank $390,000 $155,000 -60.3% 0.1%
Republic Bank of Chicago $155,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $850,000 $150,000 -82.4% 0.1%
POINT Mortgage $150,000 n/a 0.1%
Figure Lending LLC $270,000 $145,000 -46.3% 0.1%
NEXERA HOLDING LLC $145,000 n/a 0.1%
Coastal Community Bank $140,000 n/a 0.1%
DAS Acquisition Company, LLC $220,000 $135,000 -38.6% 0.0%
FINANCE OF AMERICA REVERSE LLC $135,000 n/a 0.0%
HOMESIDE FINANCIAL, LLC $600,000 $135,000 -77.5% 0.0%
PREMIER MORTGAGE RESOURCES, L.L.C. $135,000 n/a 0.0%
TOWNE MORTGAGE COMPANY $135,000 n/a 0.0%
Bank of England $135,000 $130,000 -3.7% 0.0%
I. H. MISSISSIPPI VALLEY CREDIT UNION $785,000 $130,000 -83.4% 0.0%
Third Federal Savings and Loan Association of Cleveland $130,000 n/a 0.0%
AMERICAN FINANCIAL NETWORK, INC. $125,000 n/a 0.0%
CoVantage Credit Union $125,000 n/a 0.0%
HOMEXPRESS MORTGAGE CORP. $125,000 n/a 0.0%
LENDSURE MORTGAGE CORP. $125,000 n/a 0.0%
EMBRACE HOME LOANS, INC. $120,000 n/a 0.0%
AMCAP MORTGAGE, LTD. $115,000 n/a 0.0%
HEARTLAND $115,000 n/a 0.0%
IAA Credit Union $115,000 n/a 0.0%
NexBank $115,000 n/a 0.0%
DEEPHAVEN MORTGAGE LLC $105,000 n/a 0.0%
First Mid Bank & Trust $105,000 n/a 0.0%
LIMA ONE CAPITAL, LLC $155,000 $105,000 -32.3% 0.0%
MOVEMENT MORTGAGE, LLC $555,000 $105,000 -81.1% 0.0%
TRIAD FINANCIAL SERVICES, INC. $35,000 $105,000 200.0% 0.0%
EVERETT FINANCIAL, INC. $95,000 n/a 0.0%
ENDEAVOR CAPITAL, LLC. $90,000 n/a 0.0%
First National Bank of America $85,000 n/a 0.0%
Providence Bank & Trust $85,000 n/a 0.0%
State Bank of Graymont $130,000 $80,000 -38.5% 0.0%
ALLIANT CREDIT UNION $240,000 $75,000 -68.8% 0.0%
SKYONE Federal Credit Union $75,000 n/a 0.0%
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $35,000 $65,000 85.7% 0.0%
PURDUE FEDERAL CREDIT UNION $65,000 n/a 0.0%
Union Federal Savings and Loan Association $90,000 $65,000 -27.8% 0.0%
Deere Employees Credit Union $120,000 $60,000 -50.0% 0.0%
First Merchants Bank $55,000 n/a 0.0%
Iroquois Federal Savings and Loan Association $250,000 $55,000 -78.0% 0.0%
NATIONS RELIABLE LENDING, LLC $65,000 $55,000 -15.4% 0.0%
MidAmerica National Bank $345,000 $45,000 -87.0% 0.0%
Baxter Credit Union $35,000 n/a 0.0%
EVANSVILLE TEACHERS $35,000 n/a 0.0%
First Financial Bank $35,000 n/a 0.0%
Illinois Community Credit Unio $115,000 $35,000 -69.6% 0.0%
Lakeview Community Capital, LLC $35,000 n/a 0.0%
Marquette Bank $35,000 n/a 0.0%
Toyota Financial Savings Bank $35,000 n/a 0.0%
APCI Federal Credit Union $25,000 $25,000 0.0% 0.0%
Credit Union 1 $25,000 n/a 0.0%

Ottawa's top lender by overall market share is First State Bank, with 7.0% market share. In second place, with 5.4%, is QUICKEN LOANS, LLC, having originated $14,885,000 in loans. In third place, with 5.1%, is Central Bank Illinois, having originated $14,260,000 in loans. In fourth place, with 4.8%, is First Federal Savings Bank, having originated $13,305,000 in loans. In fifth place, with 4.2%, is Ottawa Savings Bank, having originated $11,815,000 in loans.

Ottawa, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 1,405 $217,085,000 $154,509
Cash Out Refi 179 $22,395,000 $125,112
Refi 164 $19,200,000 $117,073
Other 149 $11,125,000 $74,664
Home Improvement 131 $8,375,000 $63,931

Ottawa's most frequently cited loan purpose was Home Purchase, with 1,405 originations. The 2nd most popular reason was Cash Out Refi, with 179 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 822 $130,630,000 $158,917
7-8% 481 $70,275,000 $146,102
5-6% 204 $30,300,000 $148,529
Over 8% 159 $13,815,000 $86,887
<2.5% 49 $675,000 $13,776
4-5% 18 $1,540,000 $85,556
3-4% 11 $465,000 $42,273

During 2023, Ottawa's most frequently originated rate bucket was 6-7%, with 822 originations.

Loan Sizing (Ottawa, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 885 $50,585,000 $57,158
$100k-200k 745 $104,495,000 $140,262
$200k-400k 345 $92,455,000 $267,986
$400k-600k 42 $20,480,000 $487,619
$600k-1000k 7 $5,025,000 $717,857
$Over $1MM 4 $5,140,000 $1,285,000

Ottawa's loan sizing saw the bucket of loans from $100,000 or less with 885 originations, totaling $50,585,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 870 $143,580,000 $165,034
60-80% 411 $64,475,000 $156,873
Under 20% 165 $4,875,000 $29,545
20-40% 149 $12,925,000 $86,745
40-60% 136 $17,650,000 $129,779
Over 100% 15 $3,525,000 $235,000

Ottawa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 870 originations, totaling $143,580,000 in origination value.