SPRINGFIELD 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 Springfield averaged 6.62% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

    The average rate for the prior week (2023-03-16) was 6.8% and one month ago for the week of 2023-02-16, the average rate was 6.32%.

    Springfield's average rate one year ago was 4.15%.

    For refis of the same type during the week of 2023-03-23, the average rate was 6.49%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-23 6.42%
    Springfield 30 Year Fixed Rate 2023-03-23 6.62%
    Springfield 30 Year Fixed Rate Refi 2023-03-23 6.49%
    Springfield 15 Year Fixed Rate 2023-03-23 5.98%
    Springfield 15 Year Fixed Rate Refi 2023-03-23 5.71%
    Springfield 30 Year FHA 2023-03-23 6.35%
    Springfield 30 Year FHA Refi 2023-03-23 6.33%
    Springfield 30 Year USDA 2023-03-23 6.11%
    Springfield 30 Year USDA Refi 2023-03-23 5.93%
    Springfield 30 Year VA 2023-03-23 6.19%
    Springfield 30 Year VA Refi 2023-03-23 5.78%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within SPRINGFIELD, IL.

    SPRINGFIELD 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 SPRINGFIELD, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    INB 260 5.21% $2,062
    Bank of Springfield 197 4.94% $2,218
    United Community Bank 166 5.20% $1,837
    HEARTLAND 132 4.77% $1,932
    Town & Country Banc Mortgage Services, Inc. 127 5.28% $1,975
    Marine Bank 115 4.80% $1,974
    CITIZENS EQUITY FIRST 109 4.79% $1,425
    FLAT BRANCH MORTGAGE, INC. 95 5.10% $2,977
    Alliance Community Bank 72 4.43% $1,818
    QUICKEN LOANS, LLC 48 5.32% $5,783
    Carrollton Bank 48 4.92% $2,052
    PNC Bank 36 4.95% $3,135
    Prairie State Bank and Trust 35 5.30% $1,796
    JPMorgan Chase Bank 35 4.93% $3,121
    U.S. Bank 32 4.97% $2,479
    Wells Fargo Bank 22 4.93% $3,227
    Hickory Point Bank and Trust 18 5.49% $2,163
    Petefish, Skiles & Co. 18 5.17% $2,379
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 14 6.24% $3,624
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 14 4.41% $2,714
    The Huntington National Bank 11 4.38% $4,158
    LOANDEPOT.COM, LLC 10 4.57% $4,491
    Regions Bank 10 4.80% $2,643
    MEMBER FIRST MORTGAGE, LLC 9 5.19% $3,322
    UNITED WHOLESALE MORTGAGE, LLC 7 5.23% $4,661
    Busey Bank 6 4.92% $2,003
    Credit Union 1 6 5.35% $3,721
    LEADERONE FINANCIAL CORPORATION 6 5.46% $3,015
    GUARANTEED RATE, INC. 6 5.75% $2,895
    NEWREZ LLC 5 6.12% $4,625
    First Bankers Trust Company 5 5.50% $2,234
    Flagstar Bank, FSB 5 4.28% $4,596
    CNB Bank And Trust, N.A. 5 5.24% $2,698
    NAVY FEDERAL CREDIT UNION 5 5.93% $1,927
    Mr. Cooper ( Nationstar Mortgage ) 5 4.65% $5,078
    Bank of America 4 3.94% $3,067
    ROYAL UNITED MORTGAGE LLC 3 5.83% $5,336
    BROKER SOLUTIONS, INC. 3 5.16% $3,070
    BMO Harris Bank 3 5.08% $2,800
    CROSSCOUNTRY MORTGAGE, LLC 3 3.54% $9,027
    FREEDOM MORTGAGE CORPORATION 3 5.42% $5,413
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.54% $4,995
    Farm Credit Mid-America, ACA 3 5.19% $5,351
    HOME POINT FINANCIAL CORPORATION 3 4.82% $3,534
    FIRST STATE MORTGAGE SERVICES, LLC 3 6.21% $4,353
    CALIBER HOME LOANS, INC. 3 6.29% $4,574
    ACADEMY MORTGAGE CORPORATION 2 4.94% $5,005
    Ally Bank 2 4.94% $3,583
    AMERICAN FINANCING CORPORATION 2 4.75% $5,489
    DELMAR FINANCIAL COMPANY 2 4.88% $6,217
    DIGITAL Federal Credit Union 2 4.50% $2,994
    DRAPER AND KRAMER MORTGAGE CORP. 2 5.31% $2,876
    Fifth Third Bank 2 5.81% $2,746
    First Mid Bank & Trust 2 5.44% $1,873
    GUILD MORTGAGE COMPANY 2 5.38% $3,848
    INLAND BANK & TRUST 2 5.56% $2,615
    KeyBank 2 3.25% $2,801
    Nations Lending Corporation 2 5.25% $3,675
    PLAZA HOME MORTGAGE, INC. 2 4.81% $5,656
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.31% $4,123
    Stifel Bank and Trust 2 4.56% $1,984
    Wyndham Capital Mortgage, Inc. 2 4.94% $2,560
    IOWA BANKERS MORTGAGE CORPORATION 1 6.13% $2,148
    First United Bank and Trust Company 1 5.50% $4,906
    Bell Bank 1 6.25% $6,413
    First State Bank 1 3.75% $1,721
    First Federal Savings and Loan Association of Lakewood 1 2.98% $3,115
    Longview Bank & Trust 1 6.00% $3,922
    FINANCE OF AMERICA MORTGAGE LLC 1 3.88% $3,596
    MAYO EMPLOYEES FEDERAL CREDIT UNION 1 5.13% $5,349
    FEDERATED MORTGAGE CORP. 1 6.50% $2,958
    Mortgage Research Center, LLC 1 4.75% $3,101
    Morton Community Bank 1 5.88% $1,781
    MOVEMENT MORTGAGE, LLC 1 5.88% $2,358
    Evolve Bank & Trust 1 4.88% $4,790
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.38% $3,925
    UNIVERSITY OF ILLINOIS COMMUNITY 1 6.88% $1,637
    DUPACO COMMUNITY 1 5.00% $3,060
    NBKC BANK 1 3.99% $2,351
    Deere Employees Credit Union 1 3.99% $3,063
    NexBank 1 5.75% $4,199
    North American Savings Bank, F.S.B. 1 4.88% $6,401
    Northpointe Bank 1 2.88% $5,009
    OMNI Community Credit Union 1 4.88% $3,160
    DAS Acquisition Company, LLC 1 6.13% $4,061
    Plains Commerce Bank 1 5.50% $2,867
    PLANET HOME LENDING, LLC 1 5.63% $2,297
    Barrington Bank & Trust Company, N.A. 1 5.38% $6,427
    COMPASS MORTGAGE, INC. 1 4.13% $2,973
    Commerce Bank 1 3.75% $2,102
    Vibrant Credit Union 1 5.25% $1,383
    PROPER RATE, LLC 1 3.38% $2,652
    Citadel Servicing Corporation 1 9.00% $4,519
    CIBM Bank 1 5.00% $2,138
    Carrington Mortgage Services, LLC 1 5.50% $4,892
    S1L, Inc. 1 4.50% $3,116
    SCOTT CREDIT UNION 1 5.75% $2,147
    AmeriHome Mortgage Company, LLC 1 5.38% $7,996
    Strong Home Mortgage, LLC 1 3.50% $1,544
    Boeing Employees Credit Union 1 5.63% $1,108
    BLUELEAF LENDING, LLC 1 3.75% $3,500
    GVC MORTGAGE, INC. 1 5.88% $10,818
    GERSHMAN INVESTMENT CORP. 1 4.13% $3,845
    GENEVA FINANCIAL, LLC 1 3.88% $3,686
    HOMESIDE FINANCIAL, LLC 1 4.00% $7,708
    I. H. MISSISSIPPI VALLEY CREDIT UNION 1 4.38% $1,947
    FRONTIER FINANCIAL, INC. 1 7.50% $3,654
    BETTER MORTGAGE CORPORATION 1 5.38% $1,734

    SPRINGFIELD Average Closing Costs & Other Stats

    SPRINGFIELD, IL's 108 lenders originated 5,119 loans during 2022. The total origination value was $815,165,000, with an average loan value of $159,243.

    SPRINGFIELD's average closing costs are $2,791.

    The top SPRINGFIELD lender as defined by loan originations is INB, with 260 loans originated. Their average total fees are $2,062, which is $155 lower than the next largest lender, Bank of Springfield.

    The lowest fee SPRINGFIELD lenders (with over 10 loans originated) are CITIZENS EQUITY FIRST ($1,425), Prairie State Bank and Trust ($1,796), Alliance Community Bank ($1,818), United Community Bank ($1,837) and HEARTLAND ($1,932).

    The lowest rate SPRINGFIELD lenders (with over 10 loans originated) are The Huntington National Bank (4.38%), DIAMOND RESIDENTIAL MORTGAGE CORPORATION (4.41%), Alliance Community Bank (4.43%), LOANDEPOT.COM, LLC (4.57%) and HEARTLAND (4.77%).

    SPRINGFIELD, 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
    INB $131,330,000 $93,115,000 -29.1% 11.4%
    Bank of Springfield $149,705,000 $83,500,000 -44.2% 10.2%
    United Community Bank $119,480,000 $61,580,000 -48.5% 7.6%
    Marine Bank $112,310,000 $45,175,000 -59.8% 5.5%
    Town & Country Banc Mortgage Services, Inc. $64,280,000 $35,450,000 -44.9% 4.3%
    FLAT BRANCH MORTGAGE, INC. $40,090,000 $32,545,000 -18.8% 4.0%
    Warren-Boynton State Bank $15,100,000 $31,255,000 107.0% 3.8%
    CITIZENS EQUITY FIRST $20,125,000 $30,740,000 52.7% 3.8%
    HEARTLAND $56,405,000 $27,645,000 -51.0% 3.4%
    QUICKEN LOANS, LLC $47,410,000 $21,230,000 -55.2% 2.6%
    Alliance Community Bank $33,870,000 $21,135,000 -37.6% 2.6%
    PNC Bank $28,450,000 $19,655,000 -30.9% 2.4%
    NORTHMARQ CAPITAL FINANCE, L.L.C. $19,295,000 n/a 2.4%
    Prairie State Bank and Trust $42,400,000 $18,615,000 -56.1% 2.3%
    Carrollton Bank $32,120,000 $18,230,000 -43.2% 2.2%
    Cedar Rapids Bank and Trust Company $15,700,000 n/a 1.9%
    U.S. Bank $21,790,000 $12,520,000 -42.5% 1.5%
    Mortgage Research Center, LLC $10,585,000 $12,340,000 16.6% 1.5%
    West Central Bank $11,590,000 $12,295,000 6.1% 1.5%
    Bank & Trust Company $17,120,000 $9,345,000 -45.4% 1.1%
    JPMorgan Chase Bank $10,100,000 $8,900,000 -11.9% 1.1%
    Security Bank, s.b. $29,740,000 $8,730,000 -70.6% 1.1%
    Hickory Point Bank and Trust $12,705,000 $8,350,000 -34.3% 1.0%
    Petefish, Skiles & Co. $11,950,000 $7,410,000 -38.0% 0.9%
    Arbor Realty Trust, Inc. $7,005,000 n/a 0.9%
    Wells Fargo Bank $11,770,000 $6,525,000 -44.6% 0.8%
    Williamsville State Bank & Trust $6,935,000 $6,170,000 -11.0% 0.8%
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION $22,420,000 $5,855,000 -73.9% 0.7%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $5,675,000 n/a 0.7%
    The Huntington National Bank $3,590,000 $5,310,000 47.9% 0.7%
    First Bankers Trust Company $2,130,000 $5,030,000 136.2% 0.6%
    Town and Country Bank $6,085,000 $4,650,000 -23.6% 0.6%
    BOKF $4,505,000 n/a 0.6%
    USAA Federal Savings Bank $3,965,000 $4,170,000 5.2% 0.5%
    FREEDOM MORTGAGE CORPORATION $23,710,000 $3,830,000 -83.8% 0.5%
    LEADERONE FINANCIAL CORPORATION $9,525,000 $3,815,000 -59.9% 0.5%
    Regions Bank $5,715,000 $3,690,000 -35.4% 0.5%
    LOANDEPOT.COM, LLC $8,745,000 $3,050,000 -65.1% 0.4%
    FORTE BANK $2,805,000 n/a 0.3%
    UNITED WHOLESALE MORTGAGE, LLC $2,620,000 $2,545,000 -2.9% 0.3%
    AMERISAVE MORTGAGE CORPORATION $4,945,000 $2,540,000 -48.6% 0.3%
    NAVY FEDERAL CREDIT UNION $4,235,000 $2,490,000 -41.2% 0.3%
    Flagstar Bank, FSB $2,705,000 $2,305,000 -14.8% 0.3%
    GREENSTATE CREDIT UNION $11,090,000 $2,305,000 -79.2% 0.3%
    Plains Commerce Bank $3,335,000 $2,210,000 -33.7% 0.3%
    MEMBER FIRST MORTGAGE, LLC $2,120,000 $2,115,000 -0.2% 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,265,000 $2,075,000 -8.4% 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $1,355,000 $2,030,000 49.8% 0.2%
    NEWREZ LLC $2,425,000 $1,745,000 -28.0% 0.2%
    CNB Bank And Trust, N.A. $4,495,000 $1,720,000 -61.7% 0.2%
    FIRST STATE MORTGAGE SERVICES, LLC $1,460,000 $1,710,000 17.1% 0.2%
    GUARANTEED RATE, INC. $4,670,000 $1,615,000 -65.4% 0.2%
    Barrington Bank & Trust Company, N.A. $1,845,000 $1,560,000 -15.4% 0.2%
    CALIBER HOME LOANS, INC. $6,310,000 $1,525,000 -75.8% 0.2%
    BMO Harris Bank $1,290,000 $1,480,000 14.7% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $4,430,000 $1,435,000 -67.6% 0.2%
    BROKER SOLUTIONS, INC. $2,865,000 $1,395,000 -51.3% 0.2%
    HOME POINT FINANCIAL CORPORATION $2,975,000 $1,375,000 -53.8% 0.2%
    NEW DAY FINANCIAL, LLC $1,985,000 $1,320,000 -33.5% 0.2%
    North American Savings Bank, F.S.B. $165,000 $1,240,000 651.5% 0.2%
    Credit Union 1 $3,355,000 $1,215,000 -63.8% 0.1%
    PENNYMAC LOAN SERVICES, LLC $7,655,000 $1,210,000 -84.2% 0.1%
    Carrington Mortgage Services, LLC $1,550,000 $1,125,000 -27.4% 0.1%
    Bank of America $2,145,000 $1,115,000 -48.0% 0.1%
    Busey Bank $1,110,000 n/a 0.1%
    TrustBank $300,000 $1,045,000 248.3% 0.1%
    Illinois State Police Federal Credit Union $460,000 $975,000 112.0% 0.1%
    KeyBank $17,260,000 $965,000 -94.4% 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $2,135,000 $925,000 -56.7% 0.1%
    Ally Bank $465,000 $875,000 88.2% 0.1%
    DAS Acquisition Company, LLC $1,105,000 $810,000 -26.7% 0.1%
    LAKEVIEW LOAN SERVICING, LLC $2,635,000 $790,000 -70.0% 0.1%
    DIGITAL Federal Credit Union $780,000 n/a 0.1%
    Nations Lending Corporation $310,000 $770,000 148.4% 0.1%
    FIRST CHOICE MH LLC $770,000 $750,000 -2.6% 0.1%
    Waterstone Mortgage Corporation $220,000 $750,000 240.9% 0.1%
    Farm Credit Mid-America, ACA $155,000 $665,000 329.0% 0.1%
    Stifel Bank and Trust $725,000 $665,000 -8.3% 0.1%
    AMERICAN ADVISORS GROUP $455,000 $640,000 40.7% 0.1%
    First State Bank $175,000 $640,000 265.7% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $325,000 $640,000 96.9% 0.1%
    INLAND BANK & TRUST $620,000 $620,000 0.0% 0.1%
    Morton Community Bank $630,000 $620,000 -1.6% 0.1%
    NBKC BANK $1,555,000 $620,000 -60.1% 0.1%
    SKYONE Federal Credit Union $615,000 n/a 0.1%
    ACADEMY MORTGAGE CORPORATION $70,000 $590,000 742.9% 0.1%
    GUILD MORTGAGE COMPANY $1,390,000 $585,000 -57.9% 0.1%
    VILLAGE CAPITAL MORTGAGE $2,330,000 $580,000 -75.1% 0.1%
    Hometown Lenders, Inc. $550,000 n/a 0.1%
    DRAPER AND KRAMER MORTGAGE CORP. $380,000 $530,000 39.5% 0.1%
    Citizens Bank $510,000 $520,000 2.0% 0.1%
    BETTER MORTGAGE CORPORATION $985,000 $515,000 -47.7% 0.1%
    FEDERATED MORTGAGE CORP. $495,000 n/a 0.1%
    ROYAL UNITED MORTGAGE LLC $465,000 $495,000 6.5% 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $1,020,000 $490,000 -52.0% 0.1%
    CHURCHILL MORTGAGE CORPORATION $185,000 $470,000 154.1% 0.1%
    MAYO EMPLOYEES FEDERAL CREDIT UNION $465,000 n/a 0.1%
    PENTAGON FEDERAL CREDIT UNION $475,000 $440,000 -7.4% 0.1%
    BLUELEAF LENDING, LLC $425,000 $425,000 0.0% 0.1%
    CBI Bank & Trust $420,000 n/a 0.1%
    Wyndham Capital Mortgage, Inc. $420,000 $420,000 0.0% 0.1%
    AMERICAN FINANCING CORPORATION $240,000 $415,000 72.9% 0.1%
    First Federal Savings and Loan Association of Lakewood $415,000 n/a 0.1%
    GENEVA FINANCIAL, LLC $545,000 $410,000 -24.8% 0.1%
    21ST MORTGAGE CORPORATION $175,000 $405,000 131.4% 0.0%
    Evolve Bank & Trust $405,000 n/a 0.0%
    HOMESIDE FINANCIAL, LLC $555,000 $380,000 -31.5% 0.0%
    BNC National Bank $375,000 n/a 0.0%
    Bell Bank $175,000 $365,000 108.6% 0.0%
    SPRING EQ, LLC $365,000 n/a 0.0%
    LONGBRIDGE FINANCIAL, LLC $360,000 n/a 0.0%
    PLANET HOME LENDING, LLC $820,000 $360,000 -56.1% 0.0%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $55,000 $345,000 527.3% 0.0%
    Commerce Bank $150,000 $340,000 126.7% 0.0%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $980,000 $335,000 -65.8% 0.0%
    Fifth Third Bank $1,445,000 $335,000 -76.8% 0.0%
    SCOTT CREDIT UNION $335,000 n/a 0.0%
    PLAZA HOME MORTGAGE, INC. $375,000 $330,000 -12.0% 0.0%
    FCB Banks $625,000 $320,000 -48.8% 0.0%
    Equity Prime Mortgage LLC $240,000 $315,000 31.3% 0.0%
    COMPASS MORTGAGE, INC. $445,000 $310,000 -30.3% 0.0%
    First Mid Bank & Trust $410,000 $310,000 -24.4% 0.0%
    Midwest BankCentre $305,000 n/a 0.0%
    SOFI LENDING CORP. $470,000 $305,000 -35.1% 0.0%
    Strong Home Mortgage, LLC $305,000 n/a 0.0%
    Third Federal Savings and Loan Association of Cleveland $365,000 $300,000 -17.8% 0.0%
    Better Banks $275,000 $295,000 7.3% 0.0%
    Discover Bank $585,000 $295,000 -49.6% 0.0%
    GVC MORTGAGE, INC. $285,000 n/a 0.0%
    Midwest Heritage Bank FSB $275,000 n/a 0.0%
    AMERICAN PORTFOLIO MORTGAGE CORPORATION $185,000 $270,000 45.9% 0.0%
    GUIDANCE RESIDENTIAL, LLC $1,270,000 $265,000 -79.1% 0.0%
    Northpointe Bank $265,000 n/a 0.0%
    Chicago Mortgage Solutions LLC $425,000 $260,000 -38.8% 0.0%
    TOP FLITE FINANCIAL, INC. $240,000 $260,000 8.3% 0.0%
    ALLIANT CREDIT UNION $230,000 $255,000 10.9% 0.0%
    City National Bank $255,000 n/a 0.0%
    Community Bank of Trenton $255,000 n/a 0.0%
    FAIR WAY LENDING LLC $255,000 n/a 0.0%
    NATIONS RELIABLE LENDING, LLC $295,000 $255,000 -13.6% 0.0%
    CHERRY CREEK MORTGAGE, LLC $250,000 n/a 0.0%
    Deere Employees Credit Union $245,000 n/a 0.0%
    PROPER RATE, LLC $245,000 n/a 0.0%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $230,000 n/a 0.0%
    Servion, Inc. $260,000 $220,000 -15.4% 0.0%
    First Guaranty Mortgage Corporation $985,000 $205,000 -79.2% 0.0%
    Oakstar Bank $195,000 n/a 0.0%
    Figure Lending LLC $345,000 $190,000 -44.9% 0.0%
    Neighborhood Loans, Inc. $1,040,000 $180,000 -82.7% 0.0%
    Citadel Servicing Corporation $175,000 n/a 0.0%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $145,000 $175,000 20.7% 0.0%
    First State Bank of Forrest $175,000 n/a 0.0%
    FIRST ALLIANCE HOME MORTGAGE, LLC $165,000 n/a 0.0%
    Heartland Bank and Trust Company $475,000 $160,000 -66.3% 0.0%
    Bank of Belleville $155,000 n/a 0.0%
    SILVER HILL FUNDING, LLC $155,000 n/a 0.0%
    The Bradford National Bank of Greenville $155,000 n/a 0.0%
    DELMAR FINANCIAL COMPANY $150,000 n/a 0.0%
    AmeriHome Mortgage Company, LLC $580,000 $145,000 -75.0% 0.0%
    MOVEMENT MORTGAGE, LLC $75,000 $145,000 93.3% 0.0%
    OMNI Community Credit Union $145,000 n/a 0.0%
    Secured Investment Corp. $145,000 n/a 0.0%
    S1L, Inc. $140,000 n/a 0.0%
    DUPACO COMMUNITY $535,000 $135,000 -74.8% 0.0%
    IOWA BANKERS MORTGAGE CORPORATION $135,000 n/a 0.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $35,000 $130,000 271.4% 0.0%
    The Central Trust Bank $125,000 n/a 0.0%
    The State Bank $125,000 n/a 0.0%
    UNIVERSITY OF ILLINOIS COMMUNITY $125,000 n/a 0.0%
    FINANCE OF AMERICA MORTGAGE LLC $155,000 $120,000 -22.6% 0.0%
    GERSHMAN INVESTMENT CORP. $500,000 $120,000 -76.0% 0.0%
    FAMILY FINANCE MORTGAGE, LLC $115,000 n/a 0.0%
    First Bank $65,000 $115,000 76.9% 0.0%
    FRONTIER FINANCIAL, INC. $125,000 $115,000 -8.0% 0.0%
    Lakeview Community Capital, LLC $115,000 n/a 0.0%
    Land of Lincoln Credit Union $470,000 $115,000 -75.5% 0.0%
    MidAmerica National Bank $115,000 n/a 0.0%
    Providence Bank & Trust $25,000 $115,000 360.0% 0.0%
    AMCAP MORTGAGE, LTD. $105,000 n/a 0.0%
    Boeing Employees Credit Union $105,000 n/a 0.0%
    First Savings Bank $75,000 $105,000 40.0% 0.0%
    Buena Vista National Bank $95,000 n/a 0.0%
    Longview Bank & Trust $175,000 $95,000 -45.7% 0.0%
    American Airlines Federal Credit Union $85,000 n/a 0.0%
    NexBank $85,000 n/a 0.0%
    PHH Mortgage Corporation $210,000 $85,000 -59.5% 0.0%
    VANTAGE Credit Union $85,000 n/a 0.0%
    Vibrant Credit Union $280,000 $85,000 -69.6% 0.0%
    DECATUR EARTHMOVER CREDIT UNION $305,000 $80,000 -73.8% 0.0%
    CapStar Bank $145,000 $75,000 -48.3% 0.0%
    University of Wisconsin Credit Union $75,000 n/a 0.0%
    American Bank of Missouri $70,000 n/a 0.0%
    CIBM Bank $135,000 $65,000 -51.9% 0.0%
    First United Bank and Trust Company $65,000 n/a 0.0%
    First Internet Bank of Indiana $55,000 n/a 0.0%
    QUORUM FEDERAL CREDIT UNION $55,000 n/a 0.0%
    First American Bank $35,000 n/a 0.0%
    M&T Bank $600,000 $35,000 -94.2% 0.0%
    Notre Dame Federal Credit Union Corporation $175,000 $25,000 -85.7% 0.0%
    FirstBank $15,000 n/a 0.0%

    SPRINGFIELD's top lender by overall market share is INB, with 11.4% market share. In second place, with 10.2%, is Bank of Springfield, having originated $83,500,000 in loans. In third place, with 7.6%, is United Community Bank, having originated $61,580,000 in loans. In fourth place, with 5.5%, is Marine Bank, having originated $45,175,000 in loans. In fifth place, with 4.3%, is Town & Country Banc Mortgage Services, Inc., having originated $35,450,000 in loans.

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

    Realtor.com - SPRINGFIELD (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 $136,950 (1.9%) $182,107 (0.5%) 0.51 829
    2018-02-01 $137,500 (1.9%) $184,524 (0.7%) 0.50 831
    2018-03-01 $139,900 (-0.7%) $189,588 (-3.4%) 0.49 875
    2018-04-01 $144,900 (-3.3%) $192,321 (-4.1%) 0.49 886
    2018-05-01 $144,650 (-7.5%) $192,476 (-8.4%) 0.48 940
    2018-06-01 $143,900 (-10.0%) $195,637 (-7.6%) 0.48 1,027
    2018-07-01 $140,900 (-9.1%) $192,657 (-5.1%) 0.47 1,065
    2018-08-01 $144,900 (-4.9%) $191,130 (-4.6%) 0.49 1,055
    2018-09-01 $149,900 (0.0%) $190,452 (-4.5%) 0.50 1,041
    2018-10-01 $149,900 (0.8%) $193,627 (-0.1%) 0.51 997
    2018-11-01 $149,700 (7.0%) $194,421 (4.8%) 0.51 951
    2018-12-01 $139,900 (0.0%) $183,840 (2.1%) 0.48 867
    2019-01-01 $136,700 (-0.2%) $181,331 (-0.4%) 0.47 838
    2019-02-01 $139,000 (1.1%) $182,529 (-1.1%) 0.47 830
    2019-03-01 $142,279 (1.7%) $185,427 (-2.2%) 0.47 809
    2019-04-01 $147,575 (1.9%) $193,839 (0.8%) 0.47 782
    2019-05-01 $149,900 (3.6%) $198,127 (2.9%) 0.47 790
    2019-06-01 $151,000 (4.9%) $197,296 (0.9%) 0.47 858
    2019-07-01 $153,900 (9.2%) $197,060 (2.3%) 0.48 921
    2019-08-01 $152,155 (5.0%) $195,804 (2.5%) 0.48 906
    2019-09-01 $149,536 (-0.2%) $191,708 (0.7%) 0.48 867
    2019-10-01 $147,500 (-1.6%) $189,173 (-2.3%) 0.48 843
    2019-11-01 $139,900 (-6.6%) $181,698 (-6.5%) 0.46 816
    2019-12-01 $131,250 (-6.2%) $174,479 (-5.1%) 0.44 732
    2020-01-01 $131,150 (-4.1%) $177,224 (-2.3%) 0.44 671
    2020-02-01 $132,950 (-4.4%) $182,344 (-0.1%) 0.43 650
    2020-03-01 $147,950 (4.0%) $197,148 (6.3%) 0.46 617
    2020-04-01 $149,950 (1.6%) $201,211 (3.8%) 0.47 613
    2020-05-01 $144,900 (-3.3%) $200,964 (1.4%) 0.44 543
    2020-06-01 $150,425 (-0.4%) $207,978 (5.4%) 0.44 540
    2020-07-01 $152,400 (-1.0%) $206,062 (4.6%) 0.44 527
    2020-08-01 $139,900 (-8.1%) $194,492 (-0.7%) 0.40 494
    2020-09-01 $134,900 (-9.8%) $193,896 (1.1%) 0.39 453
    2020-10-01 $124,700 (-15.5%) $179,027 (-5.4%) 0.36 440
    2020-11-01 $113,300 (-19.0%) $167,143 (-8.0%) 0.33 437
    2020-12-01 $102,400 (-22.0%) $155,419 (-10.9%) 0.30 401
    2021-01-01 $99,900 (-23.8%) $156,968 (-11.4%) 0.30 335
    2021-02-01 $98,200 (-26.1%) $156,389 (-14.2%) 0.29 285
    2021-03-01 $99,900 (-32.5%) $168,588 (-14.5%) 0.28 237
    2021-04-01 $99,825 (-33.4%) $179,571 (-10.8%) 0.27 220
    2021-05-01 $110,000 (-24.1%) $194,730 (-3.1%) 0.29 218
    2021-06-01 $124,400 (-17.3%) $202,841 (-2.5%) 0.33 264
    2021-07-01 $129,900 (-14.8%) $211,187 (2.5%) 0.34 259
    2021-08-01 $127,450 (-8.9%) $212,737 (9.4%) 0.34 274
    2021-09-01 $124,900 (-7.4%) $197,930 (2.1%) 0.33 267
    2021-10-01 $118,000 (-5.4%) $184,105 (2.8%) 0.31 267
    2021-11-01 $108,075 (-4.6%) $172,594 (3.3%) 0.29 237
    2021-12-01 $117,450 (14.7%) $173,805 (11.8%) 0.32 208
    2022-01-01 $107,500 (7.6%) $175,743 (12.0%) 0.29 180
    2022-02-01 $104,200 (6.1%) $179,084 (14.5%) 0.27 144
    2022-03-01 $120,750 (20.9%) $210,377 (24.8%) 0.30 138
    2022-04-01 $139,900 (40.2%) $226,506 (26.1%) 0.33 145
    2022-05-01 $146,750 (33.4%) $257,527 (32.3%) 0.34 142
    2022-06-01 $166,050 (33.5%) $249,691 (23.1%) 0.37 186
    2022-07-01 $168,450 (29.7%) $257,670 (22.0%) 0.38 221
    2022-08-01 $171,175 (34.3%) $262,671 (23.5%) 0.39 216
    2022-09-01 $208,950 (67.3%) $275,770 (39.3%) 0.49 199
    2022-10-01 $191,950 (62.7%) $264,709 (43.8%) 0.45 219
    2022-11-01 $168,950 (56.3%) $236,436 (37.0%) 0.41 231
    2022-12-01 $164,900 (40.4%) $237,966 (36.9%) 0.41 221
    2023-01-01 $157,500 (46.5%) $237,356 (35.1%) 0.39 188
    2023-02-01 $163,050 (56.5%) $254,081 (41.9%) 0.39 146
    SPRINGFIELD's median listing price for 2023-02-01 was $163,050, a difference of $58,850 (56.5%) versus the prior year and $5,550 versus the prior month.

    SPRINGFIELD's median listing price comes in at 39% of the national average.

    SPRINGFIELD's average listing price for 2023-02-01 was $254,081, a difference of $74,997 (41.9%) versus the prior year and $16,725 versus the prior month.

    For the 2023-02-01 period, SPRINGFIELD had 146 MLS listings, a difference of -42 listings (-22%) versus the prior month and 2 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - SPRINGFIELD (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 1,730 sqft
    2018-02-01 93 days 1,763 sqft
    2018-03-01 72 days 1,800 sqft
    2018-04-01 61 days 1,802 sqft
    2018-05-01 60 days 1,800 sqft
    2018-06-01 57 days 1,841 sqft
    2018-07-01 59 days 1,815 sqft
    2018-08-01 65 days 1,806 sqft
    2018-09-01 72 days 1,810 sqft
    2018-10-01 78 days 1,831 sqft
    2018-11-01 80 days 1,827 sqft
    2018-12-01 85 days 1,736 sqft
    2019-01-01 94 days 1,700 sqft
    2019-02-01 96 days 1,700 sqft
    2019-03-01 75 days 1,747 sqft
    2019-04-01 55 days 1,817 sqft
    2019-05-01 54 days 1,854 sqft
    2019-06-01 56 days 1,864 sqft
    2019-07-01 59 days 1,893 sqft
    2019-08-01 62 days 1,890 sqft
    2019-09-01 65 days 1,875 sqft
    2019-10-01 70 days 1,874 sqft
    2019-11-01 73 days 1,824 sqft
    2019-12-01 78 days 1,773 sqft
    2020-01-01 85 days 1,750 sqft
    2020-02-01 86 days 1,744 sqft
    2020-03-01 69 days 1,796 sqft
    2020-04-01 71 days 1,800 sqft
    2020-05-01 68 days 1,770 sqft
    2020-06-01 56 days 1,862 sqft
    2020-07-01 53 days 1,821 sqft
    2020-08-01 53 days 1,714 sqft
    2020-09-01 55 days 1,742 sqft
    2020-10-01 53 days 1,688 sqft
    2020-11-01 52 days 1,570 sqft
    2020-12-01 59 days 1,526 sqft
    2021-01-01 68 days 1,482 sqft
    2021-02-01 75 days 1,445 sqft
    2021-03-01 65 days 1,437 sqft
    2021-04-01 41 days 1,421 sqft
    2021-05-01 31 days 1,500 sqft
    2021-06-01 32 days 1,559 sqft
    2021-07-01 38 days 1,685 sqft
    2021-08-01 31 days 1,676 sqft
    2021-09-01 39 days 1,622 sqft
    2021-10-01 39 days 1,602 sqft
    2021-11-01 45 days 1,578 sqft
    2021-12-01 51 days 1,631 sqft
    2022-01-01 65 days 1,543 sqft
    2022-02-01 48 days 1,562 sqft
    2022-03-01 34 days 1,533 sqft
    2022-04-01 26 days 1,607 sqft
    2022-05-01 28 days 1,685 sqft
    2022-06-01 37 days 1,721 sqft
    2022-07-01 33 days 1,685 sqft
    2022-08-01 38 days 1,724 sqft
    2022-09-01 43 days 1,800 sqft
    2022-10-01 35 days 1,841 sqft
    2022-11-01 33 days 1,742 sqft
    2022-12-01 45 days 1,703 sqft
    2023-01-01 57 days 1,654 sqft
    2023-02-01 57 days 1,723 sqft
    SPRINGFIELD's median listing age (time on market) for 2023-02-01 was 57 days. This is 17% longer than the same period one year ago.

    SPRINGFIELD's median square footage for active listings during the 2023-02-01 period was 1,723 sqft. One year prior, the average listing was 1,562 sqft.

    SPRINGFIELD, IL Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    62515 Springfield, IL $580 $700 $870 $1,110 $1,190
    62520 Springfield, IL $600 $740 $910 $1,160 $1,250
    62530 Springfield, IL $540 $650 $810 $1,040 $1,110
    62536 Springfield, IL $620 $760 $940 $1,200 $1,290
    62539 Springfield, IL $550 $670 $830 $1,060 $1,140
    62545 Springfield, IL $520 $620 $780 $970 $1,050
    62548 Springfield, IL $560 $680 $840 $1,070 $1,150
    62558 Springfield, IL $580 $700 $870 $1,110 $1,190
    62561 Springfield, IL $560 $690 $850 $1,090 $1,170
    62563 Springfield, IL $660 $810 $1,000 $1,280 $1,370
    62612 Springfield, IL $540 $660 $820 $1,040 $1,120
    62613 Springfield, IL $560 $690 $850 $1,090 $1,170
    62615 Springfield, IL $560 $680 $840 $1,070 $1,150
    62625 Springfield, IL $550 $670 $830 $1,060 $1,140
    62629 Springfield, IL $720 $880 $1,090 $1,390 $1,500
    62642 Springfield, IL $520 $630 $780 $1,000 $1,070
    62659 Springfield, IL $520 $640 $790 $1,010 $1,080
    62661 Springfield, IL $520 $630 $780 $1,000 $1,070
    62666 Springfield, IL $520 $620 $780 $970 $1,050
    62670 Springfield, IL $530 $650 $800 $1,020 $1,100
    62673 Springfield, IL $520 $620 $780 $970 $1,050
    62675 Springfield, IL $520 $620 $780 $980 $1,060
    62677 Springfield, IL $520 $620 $780 $970 $1,050
    62684 Springfield, IL $620 $750 $930 $1,190 $1,280
    62688 Springfield, IL $520 $620 $780 $970 $1,050
    62689 Springfield, IL $520 $620 $780 $970 $1,050
    62690 Springfield, IL $550 $620 $780 $980 $1,110
    62692 Springfield, IL $520 $620 $780 $970 $1,050
    62693 Springfield, IL $540 $650 $810 $1,040 $1,110
    62701 Springfield, IL $730 $890 $1,100 $1,410 $1,510
    62702 Springfield, IL $560 $680 $840 $1,070 $1,150
    62703 Springfield, IL $550 $670 $830 $1,060 $1,140
    62704 Springfield, IL $560 $690 $850 $1,090 $1,170
    62705 Springfield, IL $560 $680 $840 $1,070 $1,150
    62706 Springfield, IL $560 $680 $840 $1,070 $1,150
    62707 Springfield, IL $550 $670 $830 $1,060 $1,140
    62708 Springfield, IL $560 $680 $840 $1,070 $1,150
    62711 Springfield, IL $660 $800 $990 $1,270 $1,360
    62712 Springfield, IL $570 $690 $860 $1,100 $1,180
    62716 Springfield, IL $560 $680 $840 $1,070 $1,150
    62719 Springfield, IL $560 $680 $840 $1,070 $1,150
    62726 Springfield, IL $560 $680 $840 $1,070 $1,150
    62736 Springfield, IL $560 $680 $840 $1,070 $1,150
    62756 Springfield, IL $560 $680 $840 $1,070 $1,150
    62764 Springfield, IL $560 $680 $840 $1,070 $1,150
    62776 Springfield, IL $560 $680 $840 $1,070 $1,150
    62781 Springfield, IL $560 $680 $840 $1,070 $1,150
    62791 Springfield, IL $560 $680 $840 $1,070 $1,150
    62796 Springfield, IL $560 $680 $840 $1,070 $1,150

    2022 Average & Median Rent Data Statistics
    SPRINGFIELD, IL average 1BR rent: $682, median: $680
    SPRINGFIELD, IL average 2BR rent: $847, median: $840
    SPRINGFIELD, IL average 3BR rent: $1,077, median: $1,070

    SPRINGFIELD, IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 3,253 $578,115,000 $177,717
    Refi 744 $120,460,000 $161,909
    Cash Out Refi 518 $71,530,000 $138,089
    Home Improvement 369 $28,205,000 $76,436
    Other 235 $16,855,000 $71,723

    Springfield's most frequently cited loan purpose was Home Purchase, with 3,253 originations. The 2nd most popular reason was Refi, with 744 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 1,329 $212,985,000 $160,260
    4-5% 1,169 $189,085,000 $161,749
    3-4% 1,002 $160,510,000 $160,190
    6-7% 577 $81,745,000 $141,672
    2.5-3% 198 $47,980,000 $242,323
    7-8% 127 $17,325,000 $136,417
    <2.5% 120 $12,070,000 $100,583
    Over 8% 64 $4,000,000 $62,500

    During 2022, Springfield's most frequently originated rate bucket was 5-6%, with 1,329 originations.

    Loan Sizing (SPRINGFIELD, IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 2,127 $119,505,000 $56,185
    $100k-200k 1,780 $253,200,000 $142,247
    $200k-400k 1,003 $273,415,000 $272,597
    $400k-600k 140 $66,350,000 $473,929
    $600k-1000k 53 $36,975,000 $697,642
    $Over $1MM 16 $65,720,000 $4,107,500

    SPRINGFIELD's loan sizing saw the bucket of loans from $100,000 or less with 2,127 originations, totaling $119,505,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 2,124 $385,810,000 $181,643
    60-80% 1,186 $222,210,000 $187,361
    Under 20% 440 $14,920,000 $33,909
    40-60% 398 $51,400,000 $129,146
    20-40% 353 $31,805,000 $90,099
    Over 100% 42 $10,860,000 $258,571

    SPRINGFIELD's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,124 originations, totaling $385,810,000 in origination value.