SPRINGFIELD Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Springfield averaged 6.36% for the week of 2024-02-15, compared to the national average of 6.77% for the same period.

The average rate for the prior week (2024-02-08) was 6.53% and one month ago for the week of 2024-01-11, the average rate was 6.35%.

Springfield's average rate one year ago was 5.71%.

For refis of the same type during the week of 2024-02-15, the average rate was 5.77%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-02-15 6.77%
Springfield 30 Year Fixed Rate 2024-02-15 6.36%
Springfield 30 Year Fixed Rate Refi 2024-02-15 5.77%
Springfield 15 Year Fixed Rate 2024-02-15 5.68%
Springfield 15 Year Fixed Rate Refi 2024-02-15 5.71%
Springfield 30 Year FHA 2024-02-15 5.97%
Springfield 30 Year FHA Refi 2024-02-15 6.51%
Springfield 30 Year USDA 2024-02-15 6.59%
Springfield 30 Year USDA Refi 2024-02-15 6.49%
Springfield 30 Year VA 2024-02-15 6.02%
Springfield 30 Year VA Refi 2024-02-15 6.26%
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 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 (-7.8%) $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 $136,950 (0.0%) $181,503 (-0.3%) 0.47 839
2019-02-01 $139,225 (1.3%) $182,700 (-1.0%) 0.47 831
2019-03-01 $142,471 (1.8%) $185,598 (-2.1%) 0.47 809
2019-04-01 $147,800 (2.0%) $193,868 (0.8%) 0.47 783
2019-05-01 $149,900 (3.6%) $198,267 (3.0%) 0.47 791
2019-06-01 $154,250 (7.2%) $198,332 (1.4%) 0.48 859
2019-07-01 $153,925 (9.2%) $197,056 (2.3%) 0.48 922
2019-08-01 $152,191 (5.0%) $195,923 (2.5%) 0.48 907
2019-09-01 $149,552 (-0.2%) $191,832 (0.7%) 0.48 868
2019-10-01 $147,500 (-1.6%) $189,301 (-2.2%) 0.48 844
2019-11-01 $139,900 (-6.6%) $181,831 (-6.5%) 0.46 817
2019-12-01 $131,375 (-6.1%) $174,626 (-5.0%) 0.44 733
2020-01-01 $131,200 (-4.2%) $177,365 (-2.3%) 0.44 672
2020-02-01 $133,000 (-4.5%) $182,486 (-0.1%) 0.44 651
2020-03-01 $147,975 (3.9%) $197,148 (6.2%) 0.46 617
2020-04-01 $149,950 (1.5%) $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 (-2.5%) $207,978 (4.9%) 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 (-8.1%) 0.33 437
2020-12-01 $102,400 (-22.1%) $155,419 (-11.0%) 0.30 401
2021-01-01 $99,900 (-23.9%) $156,968 (-11.5%) 0.30 335
2021-02-01 $98,200 (-26.2%) $156,389 (-14.3%) 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 $165,000 (27.0%) $256,210 (21.3%) 0.37 221
2022-08-01 $175,000 (37.3%) $256,117 (20.4%) 0.40 216
2022-09-01 $193,950 (55.3%) $271,496 (37.2%) 0.45 199
2022-10-01 $186,500 (58.1%) $250,575 (36.1%) 0.44 219
2022-11-01 $169,425 (56.8%) $229,425 (32.9%) 0.41 231
2022-12-01 $165,000 (40.5%) $232,606 (33.8%) 0.41 221
2023-01-01 $157,475 (46.5%) $232,968 (32.6%) 0.39 188
2023-02-01 $154,950 (48.7%) $236,733 (32.2%) 0.37 146
2023-03-01 $149,475 (23.8%) $236,979 (12.7%) 0.35 149
2023-04-01 $179,900 (28.6%) $251,032 (10.8%) 0.42 137
2023-05-01 $182,573 (24.4%) $266,066 (3.3%) 0.41 136
2023-06-01 $186,345 (12.2%) $277,081 (11.0%) 0.42 144
2023-07-01 $179,900 (9.0%) $267,720 (4.5%) 0.41 169
2023-08-01 $194,575 (11.2%) $276,310 (7.9%) 0.45 189
2023-09-01 $177,450 (-8.5%) $271,466 (0.0%) 0.41 194
2023-10-01 $172,475 (-7.5%) $260,745 (4.1%) 0.41 212
2023-11-01 $179,950 (6.2%) $259,775 (13.2%) 0.43 217
2023-12-01 $168,950 (2.4%) $246,610 (6.0%) 0.41 193
SPRINGFIELD's median listing price for 2023-12-01 was $168,950, a difference of $3,950 (2.4%) versus the prior year and $-11,000 versus the prior month.

SPRINGFIELD's median listing price comes in at 41% of the national average.

SPRINGFIELD's average listing price for 2023-12-01 was $246,610, a difference of $14,004 (6.0%) versus the prior year and $-13,165 versus the prior month.

For the 2023-12-01 period, SPRINGFIELD had 193 MLS listings, a difference of -24 listings (-11%) versus the prior month and -28 listings (-13%) 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 89 days 1,730 sqft
2018-02-01 90 days 1,763 sqft
2018-03-01 68 days 1,800 sqft
2018-04-01 59 days 1,802 sqft
2018-05-01 58 days 1,800 sqft
2018-06-01 53 days 1,841 sqft
2018-07-01 57 days 1,815 sqft
2018-08-01 63 days 1,806 sqft
2018-09-01 69 days 1,810 sqft
2018-10-01 74 days 1,831 sqft
2018-11-01 76 days 1,827 sqft
2018-12-01 81 days 1,736 sqft
2019-01-01 89 days 1,700 sqft
2019-02-01 92 days 1,700 sqft
2019-03-01 69 days 1,748 sqft
2019-04-01 51 days 1,820 sqft
2019-05-01 51 days 1,855 sqft
2019-06-01 53 days 1,866 sqft
2019-07-01 56 days 1,893 sqft
2019-08-01 61 days 1,891 sqft
2019-09-01 64 days 1,875 sqft
2019-10-01 67 days 1,874 sqft
2019-11-01 70 days 1,824 sqft
2019-12-01 75 days 1,773 sqft
2020-01-01 84 days 1,750 sqft
2020-02-01 83 days 1,744 sqft
2020-03-01 67 days 1,794 sqft
2020-04-01 67 days 1,800 sqft
2020-05-01 65 days 1,770 sqft
2020-06-01 52 days 1,862 sqft
2020-07-01 50 days 1,821 sqft
2020-08-01 52 days 1,714 sqft
2020-09-01 52 days 1,742 sqft
2020-10-01 51 days 1,688 sqft
2020-11-01 51 days 1,570 sqft
2020-12-01 58 days 1,526 sqft
2021-01-01 68 days 1,482 sqft
2021-02-01 74 days 1,445 sqft
2021-03-01 63 days 1,437 sqft
2021-04-01 39 days 1,421 sqft
2021-05-01 30 days 1,500 sqft
2021-06-01 31 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 50 days 1,631 sqft
2022-01-01 64 days 1,543 sqft
2022-02-01 46 days 1,562 sqft
2022-03-01 34 days 1,533 sqft
2022-04-01 26 days 1,607 sqft
2022-05-01 27 days 1,685 sqft
2022-06-01 36 days 1,721 sqft
2022-07-01 35 days 1,685 sqft
2022-08-01 42 days 1,749 sqft
2022-09-01 42 days 1,778 sqft
2022-10-01 39 days 1,786 sqft
2022-11-01 39 days 1,740 sqft
2022-12-01 45 days 1,710 sqft
2023-01-01 56 days 1,649 sqft
2023-02-01 54 days 1,662 sqft
2023-03-01 46 days 1,689 sqft
2023-04-01 39 days 1,700 sqft
2023-05-01 37 days 1,733 sqft
2023-06-01 37 days 1,787 sqft
2023-07-01 36 days 1,808 sqft
2023-08-01 33 days 1,882 sqft
2023-09-01 38 days 1,859 sqft
2023-10-01 40 days 1,844 sqft
2023-11-01 40 days 1,794 sqft
2023-12-01 49 days 1,741 sqft
SPRINGFIELD's median listing age (time on market) for 2023-12-01 was 49 days. This is 9% longer than the same period one year ago.

SPRINGFIELD's median square footage for active listings during the 2023-12-01 period was 1,741 sqft. One year prior, the average listing was 1,710 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.