Ottawa Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ottawa averaged
7.32%
for the week of 2023-09-21, compared to the national average of
7.19% for the same period.
The average rate for the prior week (2023-09-14) was
7.31% and
one month ago for the week of 2023-08-17, the
average rate was 6.92%.
Ottawa's average rate one year ago was 5.75%.
For refis of the same type during the week of 2023-09-21, the average rate
was 6.47%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-21 | 7.19% |
| Ottawa 30 Year Fixed Rate | 2023-09-21 | 7.32% |
| Ottawa 30 Year Fixed Rate Refi | 2023-09-21 | 6.47% |
| Ottawa 15 Year Fixed Rate | 2023-09-21 | 6.34% |
| Ottawa 15 Year Fixed Rate Refi | 2023-09-21 | 6.44% |
| Ottawa 30 Year FHA | 2023-09-21 | 6.42% |
| Ottawa 30 Year FHA Refi | 2023-09-21 | 6.84% |
| Ottawa 30 Year USDA | 2023-09-21 | 6.92% |
| Ottawa 30 Year USDA Refi | 2023-09-21 | 6.82% |
| Ottawa 30 Year VA | 2023-09-21 | 6.74% |
| Ottawa 30 Year VA Refi | 2023-09-21 | 6.62% |
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.).
Ottawa Average Closing Costs & Other Stats
Ottawa, IL's 132 lenders originated 2,646
loans during 2022. The total origination value was $366,280,000, with an average loan value of
$138,428.
Ottawa's average closing costs are $3,566.
The top Ottawa lender as defined by loan originations is First State Bank, with
84 loans originated. Their average total fees are
$1,859, which is $663
higher than the next largest lender,
FINANCIAL PLUS.
The lowest fee Ottawa lenders (with over 10 loans originated) are
FINANCIAL PLUS ($1,196), Central Bank Illinois ($1,683), First State Bank ($1,859), Community Mortgage Banc Corporation ($2,172) and First Federal Savings Bank ($2,265).
The lowest rate Ottawa lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC (4.06%), FINANCIAL PLUS (4.45%), First State Bank (4.61%), Ottawa Savings Bank (4.84%) and Old Second National Bank (4.94%).
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| First State Bank | $52,885,000 | $26,640,000 | -49.6% | 7.3% |
| QUICKEN LOANS, LLC | $31,830,000 | $21,260,000 | -33.2% | 5.8% |
| Ottawa Savings Bank | $41,400,000 | $20,275,000 | -51.0% | 5.5% |
| FINANCIAL PLUS | $17,590,000 | $16,590,000 | -5.7% | 4.5% |
| Wells Fargo Bank | $21,810,000 | $13,520,000 | -38.0% | 3.7% |
| Central Bank Illinois | $26,095,000 | $13,305,000 | -49.0% | 3.6% |
| GUARANTEED RATE, INC. | $18,350,000 | $12,915,000 | -29.6% | 3.5% |
| CALIBER HOME LOANS, INC. | $25,410,000 | $12,465,000 | -50.9% | 3.4% |
| The First National Bank of Ottawa | $32,460,000 | $12,330,000 | -62.0% | 3.4% |
| First Federal Savings Bank | $26,095,000 | $12,170,000 | -53.4% | 3.3% |
| Associated Bank | $1,310,000 | $7,200,000 | 449.6% | 2.0% |
| Heartland Bank and Trust Company | $12,375,000 | $6,315,000 | -49.0% | 1.7% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $8,530,000 | $6,050,000 | -29.1% | 1.7% |
| JPMorgan Chase Bank | $8,240,000 | $5,640,000 | -31.6% | 1.5% |
| LOANDEPOT.COM, LLC | $13,690,000 | $5,435,000 | -60.3% | 1.5% |
| Midland States Bank | $9,225,000 | $5,220,000 | -43.4% | 1.4% |
| Community Mortgage Banc Corporation | $6,770,000 | $5,165,000 | -23.7% | 1.4% |
| Old Second National Bank | $8,405,000 | $5,115,000 | -39.1% | 1.4% |
| FIRST STATE MORTGAGE SERVICES, LLC | $4,370,000 | $5,045,000 | 15.4% | 1.4% |
| Mortgage Research Center, LLC | $8,620,000 | $4,630,000 | -46.3% | 1.3% |
| First National Bank of Omaha | $9,030,000 | $4,435,000 | -50.9% | 1.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $6,405,000 | $3,815,000 | -40.4% | 1.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $6,120,000 | $3,745,000 | -38.8% | 1.0% |
| Flagstar Bank, FSB | $2,435,000 | $3,570,000 | 46.6% | 1.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $2,075,000 | $3,470,000 | 67.2% | 0.9% |
| COMPASS MORTGAGE, INC. | $4,415,000 | $3,455,000 | -21.7% | 0.9% |
| Streator Onized Credit Union | $5,885,000 | $3,400,000 | -42.2% | 0.9% |
| Mr. Cooper ( Nationstar Mortgage ) | $8,120,000 | $3,325,000 | -59.1% | 0.9% |
| Old National Bank | $3,190,000 | n/a | 0.9% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,670,000 | $3,110,000 | -15.3% | 0.8% |
| Hometown National Bank | $7,240,000 | $3,040,000 | -58.0% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $1,905,000 | $2,825,000 | 48.3% | 0.8% |
| COMPEER FINANCIAL, FLCA | $2,255,000 | $2,795,000 | 23.9% | 0.8% |
| Grundy Bank | $7,505,000 | $2,500,000 | -66.7% | 0.7% |
| PLAZA HOME MORTGAGE, INC. | $4,920,000 | $2,325,000 | -52.7% | 0.6% |
| U.S. Bank | $5,055,000 | $1,985,000 | -60.7% | 0.5% |
| HOME POINT FINANCIAL CORPORATION | $2,865,000 | $1,930,000 | -32.6% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $1,280,000 | $1,915,000 | 49.6% | 0.5% |
| Neighborhood Loans, Inc. | $2,580,000 | $1,830,000 | -29.1% | 0.5% |
| PNC Bank | $785,000 | $1,625,000 | 107.0% | 0.4% |
| Kerndt Brothers Savings Bank | $1,575,000 | n/a | 0.4% | |
| United Community Bank | $835,000 | $1,540,000 | 84.4% | 0.4% |
| PLANET HOME LENDING, LLC | $1,785,000 | $1,485,000 | -16.8% | 0.4% |
| The Federal Savings Bank | $2,980,000 | $1,475,000 | -50.5% | 0.4% |
| The Huntington National Bank | $1,430,000 | $1,450,000 | 1.4% | 0.4% |
| NEWREZ LLC | $3,545,000 | $1,445,000 | -59.2% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $9,125,000 | $1,430,000 | -84.3% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $4,120,000 | $1,400,000 | -66.0% | 0.4% |
| Fifth Third Bank | $1,860,000 | $1,295,000 | -30.4% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $2,495,000 | $1,245,000 | -50.1% | 0.3% |
| GUARANTEED RATE AFFINITY, LLC | $940,000 | $1,220,000 | 29.8% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,255,000 | $1,175,000 | -6.4% | 0.3% |
| Flanagan State Bank | $1,170,000 | $1,165,000 | -0.4% | 0.3% |
| Bank of America | $1,085,000 | $1,160,000 | 6.9% | 0.3% |
| USAA Federal Savings Bank | $2,030,000 | $1,160,000 | -42.9% | 0.3% |
| NEW DAY FINANCIAL, LLC | $1,500,000 | $1,035,000 | -31.0% | 0.3% |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $1,260,000 | $975,000 | -22.6% | 0.3% |
| FLAT BRANCH MORTGAGE, INC. | $505,000 | $915,000 | 81.2% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,065,000 | $870,000 | -18.3% | 0.2% |
| CITIZENS EQUITY FIRST | $885,000 | $865,000 | -2.3% | 0.2% |
| AMERICAN FINANCING CORPORATION | $975,000 | $850,000 | -12.8% | 0.2% |
| BMO Harris Bank | $910,000 | $845,000 | -7.1% | 0.2% |
| Servion, Inc. | $1,610,000 | $810,000 | -49.7% | 0.2% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $180,000 | $785,000 | 336.1% | 0.2% |
| Barrington Bank & Trust Company, N.A. | $2,085,000 | $770,000 | -63.1% | 0.2% |
| Morton Community Bank | $1,400,000 | $765,000 | -45.4% | 0.2% |
| Century Mortgage Company DBA Century Lending Company | $730,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $1,935,000 | $720,000 | -62.8% | 0.2% |
| Mutual Federal Bank | $1,410,000 | $690,000 | -51.1% | 0.2% |
| THE ANDERSON FINANCIAL GROUP, INC. | $1,505,000 | $665,000 | -55.8% | 0.2% |
| FINANCE OF AMERICA MORTGAGE LLC | $660,000 | n/a | 0.2% | |
| BLUELEAF LENDING, LLC | $1,570,000 | $650,000 | -58.6% | 0.2% |
| Bank of Pontiac | $605,000 | $635,000 | 5.0% | 0.2% |
| Hometown Lenders, Inc. | $620,000 | $630,000 | 1.6% | 0.2% |
| EMM LOANS LLC | $625,000 | n/a | 0.2% | |
| First American Bank | $470,000 | $625,000 | 33.0% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $2,895,000 | $600,000 | -79.3% | 0.2% |
| Carrington Mortgage Services, LLC | $995,000 | $580,000 | -41.7% | 0.2% |
| UNION HOME MORTGAGE CORP. | $350,000 | $580,000 | 65.7% | 0.2% |
| Busey Bank | $570,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $275,000 | $555,000 | 101.8% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $1,780,000 | $515,000 | -71.1% | 0.1% |
| ZILLOW HOME LOANS, LLC | $320,000 | $515,000 | 60.9% | 0.1% |
| Holcomb Bank | $405,000 | $505,000 | 24.7% | 0.1% |
| CMG MORTGAGE, INC. | $1,530,000 | $495,000 | -67.6% | 0.1% |
| FIRST NORTHERN Credit Union | $490,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $2,530,000 | $485,000 | -80.8% | 0.1% |
| Chicago Mortgage Solutions LLC | $205,000 | $485,000 | 136.6% | 0.1% |
| AmeriHome Mortgage Company, LLC | $280,000 | $475,000 | 69.6% | 0.1% |
| INLANTA MORTGAGE, INC. | $595,000 | $475,000 | -20.2% | 0.1% |
| Allied First Bank,sb | $1,450,000 | $440,000 | -69.7% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $85,000 | $435,000 | 411.8% | 0.1% |
| DRAPER AND KRAMER MORTGAGE CORP. | $1,580,000 | $400,000 | -74.7% | 0.1% |
| Morgan Stanley Private Bank | $400,000 | n/a | 0.1% | |
| Pacor Mortgage Corp | $585,000 | $400,000 | -31.6% | 0.1% |
| Raymond James Bank | $395,000 | n/a | 0.1% | |
| First Savings Bank | $390,000 | n/a | 0.1% | |
| Ipava State Bank | $390,000 | n/a | 0.1% | |
| Wyndham Capital Mortgage, Inc. | $390,000 | n/a | 0.1% | |
| PARLAY MORTGAGE & PROPERTY, INC. | $825,000 | $380,000 | -53.9% | 0.1% |
| Citizens Bank | $320,000 | $375,000 | 17.2% | 0.1% |
| CHERRY CREEK MORTGAGE, LLC | $1,025,000 | $370,000 | -63.9% | 0.1% |
| Chicago Financial Services, Inc. | $355,000 | n/a | 0.1% | |
| Farmers National Bank | $880,000 | $355,000 | -59.7% | 0.1% |
| MidAmerica National Bank | $345,000 | n/a | 0.1% | |
| BAY EQUITY LLC | $330,000 | $330,000 | 0.0% | 0.1% |
| Peoples Bank | $750,000 | $325,000 | -56.7% | 0.1% |
| Vibrant Credit Union | $400,000 | $315,000 | -21.3% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $510,000 | $310,000 | -39.2% | 0.1% |
| American Airlines Federal Credit Union | $95,000 | $305,000 | 221.1% | 0.1% |
| NUMARK CREDIT UNION | $1,065,000 | $305,000 | -71.4% | 0.1% |
| PREMIA MORTGAGE, LLC | $380,000 | $305,000 | -19.7% | 0.1% |
| ILLINOIS STATE CREDIT UNION | $260,000 | $295,000 | 13.5% | 0.1% |
| Prosperity Home Mortgage, LLC | $285,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $215,000 | $280,000 | 30.2% | 0.1% |
| CIBM Bank | $185,000 | $275,000 | 48.6% | 0.1% |
| Figure Lending LLC | $150,000 | $270,000 | 80.0% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $650,000 | $270,000 | -58.5% | 0.1% |
| Regions Bank | $95,000 | $270,000 | 184.2% | 0.1% |
| Colten Mortgage, LLC | $250,000 | $265,000 | 6.0% | 0.1% |
| Truist | $205,000 | $265,000 | 29.3% | 0.1% |
| TEMPLE VIEW CAPITAL FUNDING, LP | $260,000 | n/a | 0.1% | |
| Discover Bank | $165,000 | $255,000 | 54.5% | 0.1% |
| GSF Mortgage Corporation | $255,000 | n/a | 0.1% | |
| Iroquois Federal Savings and Loan Association | $75,000 | $250,000 | 233.3% | 0.1% |
| CIVIC FINANCIAL SERVICES, LLC | $245,000 | n/a | 0.1% | |
| GREENSTATE CREDIT UNION | $160,000 | $245,000 | 53.1% | 0.1% |
| Hickory Point Bank and Trust | $45,000 | $245,000 | 444.4% | 0.1% |
| ALLIANT CREDIT UNION | $240,000 | n/a | 0.1% | |
| Key Mortgage Services, Inc. | $2,350,000 | $240,000 | -89.8% | 0.1% |
| Commerce Bank | $225,000 | n/a | 0.1% | |
| Merchants and Manufacturers Bank | $225,000 | n/a | 0.1% | |
| DAS Acquisition Company, LLC | $135,000 | $220,000 | 63.0% | 0.1% |
| Ixonia Bank | $145,000 | $220,000 | 51.7% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $1,080,000 | $220,000 | -79.6% | 0.1% |
| Ameris Bank | $215,000 | n/a | 0.1% | |
| Central Federal Savings and Loan Association | $205,000 | n/a | 0.1% | |
| First State Bank of Bloomington | $205,000 | n/a | 0.1% | |
| LADERA LENDING, INC. | $205,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $115,000 | $205,000 | 78.3% | 0.1% |
| First Trust Bank of Illinois | $45,000 | $200,000 | 344.4% | 0.1% |
| LIBERTY HOME MORTGAGE CORPORATION | $85,000 | $200,000 | 135.3% | 0.1% |
| First Guaranty Mortgage Corporation | $525,000 | $190,000 | -63.8% | 0.1% |
| Commerce Home Mortgage, Inc. | $185,000 | n/a | 0.1% | |
| Citadel Servicing Corporation | $175,000 | n/a | 0.0% | |
| GAS AND ELECTRIC CREDIT UNION | $175,000 | n/a | 0.0% | |
| 21ST MORTGAGE CORPORATION | $175,000 | $170,000 | -2.9% | 0.0% |
| SIRVA MORTGAGE, INC. | $165,000 | n/a | 0.0% | |
| UIF CORPORATION | $165,000 | n/a | 0.0% | |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $355,000 | $155,000 | -56.3% | 0.0% |
| FNBC Bank & Trust | $245,000 | $155,000 | -36.7% | 0.0% |
| LIMA ONE CAPITAL, LLC | $155,000 | n/a | 0.0% | |
| RAPID MORTGAGE COMPANY | $155,000 | n/a | 0.0% | |
| University of Wisconsin Credit Union | $155,000 | n/a | 0.0% | |
| Orion Federal Credit Union | $150,000 | n/a | 0.0% | |
| AMERICAN ADVISORS GROUP | $220,000 | $145,000 | -34.1% | 0.0% |
| BANKORION | $145,000 | n/a | 0.0% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $145,000 | $145,000 | 0.0% | 0.0% |
| Plains Commerce Bank | $145,000 | n/a | 0.0% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $130,000 | $145,000 | 11.5% | 0.0% |
| The First National Bank and Trust Company | $145,000 | n/a | 0.0% | |
| Town & Country Banc Mortgage Services, Inc. | $1,050,000 | $145,000 | -86.2% | 0.0% |
| THRIVENT Federal Credit Union | $140,000 | n/a | 0.0% | |
| Bank of England | $405,000 | $135,000 | -66.7% | 0.0% |
| First State Bank of St. Charles, Missouri | $135,000 | n/a | 0.0% | |
| State Bank of Graymont | $240,000 | $130,000 | -45.8% | 0.0% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $125,000 | n/a | 0.0% | |
| Better Banks | $65,000 | $125,000 | 92.3% | 0.0% |
| Carrollton Bank | $125,000 | n/a | 0.0% | |
| Hometown Equity Mortgage, LLC | $240,000 | $125,000 | -47.9% | 0.0% |
| Illiana Financial Credit Union | $125,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $390,000 | $120,000 | -69.2% | 0.0% |
| INLAND BANK & TRUST | $1,000,000 | $120,000 | -88.0% | 0.0% |
| DELMAR FINANCIAL COMPANY | $115,000 | n/a | 0.0% | |
| First Option Mortgage, LLC | $95,000 | $115,000 | 21.1% | 0.0% |
| Illinois Community Credit Unio | $115,000 | n/a | 0.0% | |
| SENB Bank | $115,000 | n/a | 0.0% | |
| First Midwest Bank | $10,510,000 | $110,000 | -99.0% | 0.0% |
| Citibank | $105,000 | n/a | 0.0% | |
| MORIA DEVELOPMENT, INC. | $105,000 | $105,000 | 0.0% | 0.0% |
| POLISH & SLAVIC FEDERAL CREDIT UNION | $105,000 | n/a | 0.0% | |
| Ally Bank | $135,000 | $95,000 | -29.6% | 0.0% |
| National Bank of St. Anne | $95,000 | n/a | 0.0% | |
| STAR USA FEDERAL CREDIT UNION | $95,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $165,000 | $90,000 | -45.5% | 0.0% |
| Union Federal Savings and Loan Association | $25,000 | $90,000 | 260.0% | 0.0% |
| Mid-Continent Funding, Inc. | $185,000 | $85,000 | -54.1% | 0.0% |
| Paramount Bank | $135,000 | $85,000 | -37.0% | 0.0% |
| VERIDIAN CREDIT UNION | $85,000 | $85,000 | 0.0% | 0.0% |
| GENEVA FINANCIAL, LLC | $75,000 | n/a | 0.0% | |
| LEADERONE FINANCIAL CORPORATION | $735,000 | $75,000 | -89.8% | 0.0% |
| Bankers' Bank | $65,000 | n/a | 0.0% | |
| Citywide Banks | $65,000 | n/a | 0.0% | |
| DUPACO COMMUNITY | $125,000 | $65,000 | -48.0% | 0.0% |
| INB | $335,000 | $65,000 | -80.6% | 0.0% |
| Low VA Rates, LLC | $65,000 | n/a | 0.0% | |
| NATIONS RELIABLE LENDING, LLC | $65,000 | n/a | 0.0% | |
| CHURCHILL MORTGAGE CORPORATION | $55,000 | n/a | 0.0% | |
| HealthCare Associates Credit Union | $55,000 | n/a | 0.0% | |
| LENDINGHOME FUNDING CORPORATION | $375,000 | $55,000 | -85.3% | 0.0% |
| ATLANTA POSTAL | $45,000 | n/a | 0.0% | |
| GERSHMAN INVESTMENT CORP. | $45,000 | n/a | 0.0% | |
| Union Savings Bank | $45,000 | n/a | 0.0% | |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $35,000 | n/a | 0.0% | |
| First State Bank of Forrest | $125,000 | $35,000 | -72.0% | 0.0% |
| GREAT LAKES | $55,000 | $35,000 | -36.4% | 0.0% |
| PHH Mortgage Corporation | $115,000 | $35,000 | -69.6% | 0.0% |
| Sauk Valley Bank & Trust Company | $165,000 | $35,000 | -78.8% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $115,000 | $35,000 | -69.6% | 0.0% |
| APCI Federal Credit Union | $25,000 | n/a | 0.0% | |
| EVERENCE FEDERAL CREDIT UNION | $25,000 | n/a | 0.0% | |
| Goodfield State Bank | $165,000 | $15,000 | -90.9% | 0.0% |
Ottawa's top lender by overall market share is First State Bank, with 7.3% market share. In second place, with 5.8%, is QUICKEN LOANS, LLC, having originated $21,260,000 in loans. In third place, with 5.5%, is Ottawa Savings Bank, having originated $20,275,000 in loans. In fourth place, with 4.5%, is FINANCIAL PLUS, having originated $16,590,000 in loans. In fifth place, with 3.7%, is Wells Fargo Bank, having originated $13,520,000 in loans.
Ottawa, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,653 | $254,535,000 | $153,984 |
| Cash Out Refi | 381 | $51,905,000 | $136,234 |
| Refi | 360 | $43,580,000 | $121,056 |
| Other | 142 | $8,510,000 | $59,930 |
| Home Improvement | 110 | $7,750,000 | $70,455 |
Ottawa's most frequently cited loan purpose was Home Purchase, with 1,653 originations. The 2nd most popular reason was Cash Out Refi, with 381 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 663 | $93,785,000 | $141,456 |
| 4-5% | 549 | $83,495,000 | $152,086 |
| 3-4% | 492 | $76,700,000 | $155,894 |
| 6-7% | 329 | $42,165,000 | $128,161 |
| 2.5-3% | 98 | $14,510,000 | $148,061 |
| <2.5% | 91 | $8,035,000 | $88,297 |
| 7-8% | 84 | $11,360,000 | $135,238 |
| Over 8% | 29 | $1,965,000 | $67,759 |
During 2022, Ottawa's most frequently originated rate bucket was 5-6%, with 663 originations.
Loan Sizing (Ottawa, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 1,114 | $68,700,000 | $61,670 |
| $100k-200k | 1,039 | $145,905,000 | $140,428 |
| $200k-400k | 429 | $113,185,000 | $263,834 |
| $400k-600k | 55 | $25,755,000 | $468,273 |
| $600k-1000k | 6 | $4,190,000 | $698,333 |
| $Over $1MM | 3 | $8,545,000 | $2,848,333 |
Ottawa's loan sizing saw the bucket of loans from $100,000 or less with 1,114 originations, totaling $68,700,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,151 | $184,195,000 | $160,030 |
| 60-80% | 643 | $92,385,000 | $143,678 |
| 40-60% | 223 | $33,995,000 | $152,444 |
| 20-40% | 154 | $12,020,000 | $78,052 |
| Under 20% | 145 | $5,005,000 | $34,517 |
| Over 100% | 13 | $2,785,000 | $214,231 |
Ottawa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,151 originations, totaling $184,195,000 in origination value.