SPRINGFIELD Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Springfield averaged
6.5%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.82% and
one month ago for the week of 2024-06-13, the
average rate was 6.88%.
Springfield's average rate one year ago was 6.69%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.64%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Springfield 30 Year Fixed Rate | 2024-07-18 | 6.5% |
| Springfield 30 Year Fixed Rate Refi | 2024-07-18 | 6.64% |
| Springfield 15 Year Fixed Rate | 2024-07-18 | 6.47% |
| Springfield 15 Year Fixed Rate Refi | 2024-07-18 | 5.95% |
| Springfield 30 Year FHA | 2024-07-18 | 6.76% |
| Springfield 30 Year FHA Refi | 2024-07-18 | 6.59% |
| Springfield 30 Year USDA | 2024-07-18 | 6.83% |
| Springfield 30 Year USDA Refi | 2024-07-18 | 6.83% |
| Springfield 30 Year VA | 2024-07-18 | 6.29% |
| Springfield 30 Year VA Refi | 2024-07-18 | 6.3% |
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.).
SPRINGFIELD Average Closing Costs & Other Stats
SPRINGFIELD, IL's 98 lenders originated 3,969
loans during 2023. The total origination value was $621,815,000, with an average loan value of
$156,668.
SPRINGFIELD's average closing costs are $2,881.
The top SPRINGFIELD lender as defined by loan originations is INB, with
243 loans originated. Their average total fees are
$2,293, which is $96
higher than the next largest lender,
Bank of Springfield.
The lowest fee SPRINGFIELD lenders (with over 10 loans originated) are
CITIZENS EQUITY FIRST ($1,367), Prairie State Bank and Trust ($1,819), United Community Bank ($1,822), Marine Bank ($1,863) and Petefish, Skiles & Co. ($1,882).
The lowest rate SPRINGFIELD lenders (with over 10 loans originated) are
Marine Bank (6.02%), Petefish, Skiles & Co. (6.35%), FIRST STATE MORTGAGE SERVICES, LLC (6.39%), HEARTLAND (6.42%) and Carrollton Bank (6.47%).
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| INB | $93,115,000 | $82,750,000 | -11.1% | 13.3% |
| Bank of Springfield | $83,500,000 | $57,320,000 | -31.4% | 9.2% |
| United Community Bank | $61,580,000 | $50,895,000 | -17.4% | 8.2% |
| FLAT BRANCH MORTGAGE, INC. | $32,545,000 | $30,375,000 | -6.7% | 4.9% |
| Heartland Bank and Trust Company | $160,000 | $26,460,000 | 16,437.5% | 4.3% |
| Alliance Community Bank | $21,135,000 | $26,390,000 | 24.9% | 4.2% |
| CITIZENS EQUITY FIRST | $30,740,000 | $20,870,000 | -32.1% | 3.4% |
| Morton Community Bank | $620,000 | $18,660,000 | 2,909.7% | 3.0% |
| HEARTLAND | $27,645,000 | $16,865,000 | -39.0% | 2.7% |
| QUICKEN LOANS, LLC | $21,230,000 | $16,800,000 | -20.9% | 2.7% |
| Old National Bank | $16,555,000 | n/a | 2.7% | |
| PNC Bank | $19,655,000 | $14,995,000 | -23.7% | 2.4% |
| Carrollton Bank | $18,230,000 | $14,775,000 | -19.0% | 2.4% |
| Prairie State Bank and Trust | $18,615,000 | $14,550,000 | -21.8% | 2.3% |
| Marine Bank | $45,175,000 | $12,390,000 | -72.6% | 2.0% |
| West Central Bank | $12,295,000 | $10,440,000 | -15.1% | 1.7% |
| Warren-Boynton State Bank | $31,255,000 | $10,310,000 | -67.0% | 1.7% |
| Mortgage Research Center, LLC | $12,340,000 | $9,535,000 | -22.7% | 1.5% |
| WALKER & DUNLOP, LLC | $9,105,000 | n/a | 1.5% | |
| Bank & Trust Company | $9,345,000 | $8,445,000 | -9.6% | 1.4% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $5,675,000 | $7,620,000 | 34.3% | 1.2% |
| GUARANTEED RATE, INC. | $1,615,000 | $7,495,000 | 364.1% | 1.2% |
| U.S. Bank | $12,520,000 | $6,440,000 | -48.6% | 1.0% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $5,855,000 | $6,080,000 | 3.8% | 1.0% |
| Security Bank, s.b. | $8,730,000 | $5,805,000 | -33.5% | 0.9% |
| Petefish, Skiles & Co. | $7,410,000 | $5,775,000 | -22.1% | 0.9% |
| Regions Bank | $3,690,000 | $5,770,000 | 56.4% | 0.9% |
| Citibank | $5,100,000 | n/a | 0.8% | |
| JPMorgan Chase Bank | $8,900,000 | $4,795,000 | -46.1% | 0.8% |
| FIRST STATE MORTGAGE SERVICES, LLC | $1,710,000 | $4,180,000 | 144.4% | 0.7% |
| American Bank of Missouri | $70,000 | $4,090,000 | 5,742.9% | 0.7% |
| LEADERONE FINANCIAL CORPORATION | $3,815,000 | $3,995,000 | 4.7% | 0.6% |
| Williamsville State Bank & Trust | $6,170,000 | $3,960,000 | -35.8% | 0.6% |
| Hickory Point Bank and Trust | $8,350,000 | $3,270,000 | -60.8% | 0.5% |
| BROKER SOLUTIONS, INC. | $1,395,000 | $2,915,000 | 109.0% | 0.5% |
| USAA Federal Savings Bank | $4,170,000 | $2,850,000 | -31.7% | 0.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $2,545,000 | $2,470,000 | -2.9% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $3,830,000 | $2,245,000 | -41.4% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,030,000 | $1,925,000 | -5.2% | 0.3% |
| Credit Union 1 | $1,215,000 | $1,895,000 | 56.0% | 0.3% |
| Plains Commerce Bank | $2,210,000 | $1,790,000 | -19.0% | 0.3% |
| LOANDEPOT.COM, LLC | $3,050,000 | $1,675,000 | -45.1% | 0.3% |
| Wells Fargo Bank | $6,525,000 | $1,630,000 | -75.0% | 0.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,075,000 | $1,590,000 | -23.4% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $1,210,000 | $1,530,000 | 26.4% | 0.2% |
| Fifth Third Bank | $335,000 | $1,420,000 | 323.9% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,435,000 | $1,405,000 | -2.1% | 0.2% |
| DAS Acquisition Company, LLC | $810,000 | $1,380,000 | 70.4% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $2,490,000 | $1,340,000 | -46.2% | 0.2% |
| MEMBER FIRST MORTGAGE, LLC | $2,115,000 | $1,285,000 | -39.2% | 0.2% |
| Stifel Bank and Trust | $665,000 | $1,180,000 | 77.4% | 0.2% |
| GUIDANCE RESIDENTIAL, LLC | $265,000 | $1,170,000 | 341.5% | 0.2% |
| NEWREZ LLC | $1,745,000 | $1,050,000 | -39.8% | 0.2% |
| BankFirst | $1,045,000 | n/a | 0.2% | |
| GUILD MORTGAGE COMPANY | $585,000 | $1,025,000 | 75.2% | 0.2% |
| CNB Bank And Trust, N.A. | $1,720,000 | $995,000 | -42.2% | 0.2% |
| First Federal Savings and Loan Association of Lakewood | $415,000 | $965,000 | 132.5% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $490,000 | $955,000 | 94.9% | 0.2% |
| Farm Credit Mid-America, ACA | $665,000 | $905,000 | 36.1% | 0.1% |
| Bank of America | $1,115,000 | $900,000 | -19.3% | 0.1% |
| Discover Bank | $295,000 | $835,000 | 183.1% | 0.1% |
| BankPlus | $825,000 | n/a | 0.1% | |
| American Mortgage & Equity Consultants, Inc. | $810,000 | n/a | 0.1% | |
| First National Bank in Tremont | $810,000 | n/a | 0.1% | |
| CALIBER HOME LOANS, INC. | $1,525,000 | $785,000 | -48.5% | 0.1% |
| LAKE MICHIGAN CREDIT UNION | $780,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $2,540,000 | $745,000 | -70.7% | 0.1% |
| Land of Lincoln Credit Union | $115,000 | $700,000 | 508.7% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $1,560,000 | $660,000 | -57.7% | 0.1% |
| NEW DAY FINANCIAL, LLC | $1,320,000 | $645,000 | -51.1% | 0.1% |
| 21ST MORTGAGE CORPORATION | $405,000 | $615,000 | 51.9% | 0.1% |
| Busey Bank | $1,110,000 | $610,000 | -45.0% | 0.1% |
| CIBM Bank | $65,000 | $605,000 | 830.8% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $580,000 | $585,000 | 0.9% | 0.1% |
| ZILLOW HOME LOANS, LLC | $570,000 | n/a | 0.1% | |
| Magnolia Bank | $550,000 | n/a | 0.1% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $535,000 | n/a | 0.1% | |
| PENTAGON FEDERAL CREDIT UNION | $440,000 | $525,000 | 19.3% | 0.1% |
| GREENSTATE CREDIT UNION | $2,305,000 | $520,000 | -77.4% | 0.1% |
| First Bankers Trust Company | $5,030,000 | $510,000 | -89.9% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $300,000 | $505,000 | 68.3% | 0.1% |
| The Federal Savings Bank | $490,000 | n/a | 0.1% | |
| THRIVE MORTGAGE, LLC | $470,000 | n/a | 0.1% | |
| NBKC BANK | $620,000 | $465,000 | -25.0% | 0.1% |
| People's Bank of Seneca | $435,000 | n/a | 0.1% | |
| Servion, Inc. | $220,000 | $425,000 | 93.2% | 0.1% |
| MidAmerica National Bank | $115,000 | $415,000 | 260.9% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $470,000 | $410,000 | -12.8% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $640,000 | $410,000 | -35.9% | 0.1% |
| The First National Bank of Raymond | $410,000 | n/a | 0.1% | |
| Colonial Savings, F.A. | $385,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $380,000 | n/a | 0.1% | |
| The Huntington National Bank | $5,310,000 | $380,000 | -92.8% | 0.1% |
| DIGITAL Federal Credit Union | $780,000 | $360,000 | -53.8% | 0.1% |
| Figure Lending LLC | $190,000 | $355,000 | 86.8% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $495,000 | $355,000 | -28.3% | 0.1% |
| COMPASS MORTGAGE, INC. | $310,000 | $350,000 | 12.9% | 0.1% |
| ENDEAVOR CAPITAL, LLC. | $350,000 | n/a | 0.1% | |
| AFFINITY | $345,000 | n/a | 0.1% | |
| GENEVA FINANCIAL, LLC | $410,000 | $345,000 | -15.9% | 0.1% |
| The Central Trust Bank | $125,000 | $335,000 | 168.0% | 0.1% |
| PHH Mortgage Corporation | $85,000 | $325,000 | 282.4% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $320,000 | n/a | 0.1% | |
| SCOTT CREDIT UNION | $335,000 | $320,000 | -4.5% | 0.1% |
| FCB Banks | $320,000 | $315,000 | -1.6% | 0.1% |
| GERSHMAN INVESTMENT CORP. | $120,000 | $315,000 | 162.5% | 0.1% |
| Deere Employees Credit Union | $245,000 | $300,000 | 22.4% | 0.0% |
| OCMBC, INC. | $300,000 | n/a | 0.0% | |
| Coastal Community Bank | $295,000 | n/a | 0.0% | |
| INTERCAP LENDING INC. | $295,000 | n/a | 0.0% | |
| MORTGAGE ACCESS CORP. | $295,000 | n/a | 0.0% | |
| QUORUM FEDERAL CREDIT UNION | $55,000 | $295,000 | 436.4% | 0.0% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $290,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $290,000 | n/a | 0.0% | |
| Associated Bank | $265,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $1,125,000 | $260,000 | -76.9% | 0.0% |
| Key Mortgage Services, Inc. | $250,000 | n/a | 0.0% | |
| Midland States Bank | $230,000 | n/a | 0.0% | |
| Gate City Bank | $225,000 | n/a | 0.0% | |
| Havana National Bank | $225,000 | n/a | 0.0% | |
| CARDINAL FINANCIAL | $335,000 | $220,000 | -34.3% | 0.0% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $220,000 | n/a | 0.0% | |
| MOVEMENT MORTGAGE, LLC | $145,000 | $210,000 | 44.8% | 0.0% |
| CONSUMERS COOPERATIVE CREDIT UNION | $205,000 | n/a | 0.0% | |
| First Federal Bank | $205,000 | n/a | 0.0% | |
| HomeBank | $200,000 | n/a | 0.0% | |
| DUPACO COMMUNITY | $135,000 | $185,000 | 37.0% | 0.0% |
| ENVOY MORTGAGE, LTD | $185,000 | n/a | 0.0% | |
| First Mid Bank & Trust | $310,000 | $185,000 | -40.3% | 0.0% |
| First State Bank of Forrest | $175,000 | $185,000 | 5.7% | 0.0% |
| Simmons Bank | $185,000 | n/a | 0.0% | |
| University of Wisconsin Credit Union | $75,000 | $185,000 | 146.7% | 0.0% |
| Flagstar Bank, FSB | $2,305,000 | $170,000 | -92.6% | 0.0% |
| ALLIED MORTGAGE GROUP, INC. | $165,000 | n/a | 0.0% | |
| ALAMEDA MORTGAGE CORPORATION | $160,000 | n/a | 0.0% | |
| Merchants Mortgage & Trust Corporation | $160,000 | n/a | 0.0% | |
| General Mortgage Capital Corporation | $155,000 | n/a | 0.0% | |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $230,000 | $155,000 | -32.6% | 0.0% |
| TOP FLITE FINANCIAL, INC. | $260,000 | $145,000 | -44.2% | 0.0% |
| BAY-VALLEY MORTGAGE GROUP | $135,000 | n/a | 0.0% | |
| DELMAR FINANCIAL COMPANY | $150,000 | $135,000 | -10.0% | 0.0% |
| FRONTIER FINANCIAL, INC. | $115,000 | $135,000 | 17.4% | 0.0% |
| GSF Mortgage Corporation | $135,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $135,000 | n/a | 0.0% | |
| SUN WEST MORTGAGE COMPANY, INC. | $135,000 | n/a | 0.0% | |
| BMO Harris Bank | $1,480,000 | $130,000 | -91.2% | 0.0% |
| DECATUR EARTHMOVER CREDIT UNION | $80,000 | $130,000 | 62.5% | 0.0% |
| ALLIANT CREDIT UNION | $255,000 | $125,000 | -51.0% | 0.0% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $175,000 | $125,000 | -28.6% | 0.0% |
| SPRING EQ, LLC | $365,000 | $125,000 | -65.8% | 0.0% |
| Holcomb Bank | $115,000 | n/a | 0.0% | |
| HOMESIDE FINANCIAL, LLC | $380,000 | $115,000 | -69.7% | 0.0% |
| LENDSURE MORTGAGE CORP. | $115,000 | n/a | 0.0% | |
| CITY-COUNTY CREDIT UNION | $105,000 | n/a | 0.0% | |
| Flanagan State Bank | $105,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $100,000 | n/a | 0.0% | |
| Bank of Hillsboro | $95,000 | n/a | 0.0% | |
| BETTER MORTGAGE CORPORATION | $515,000 | $95,000 | -81.6% | 0.0% |
| CHARTER WEST BANK | $95,000 | n/a | 0.0% | |
| Northpointe Bank | $265,000 | $95,000 | -64.2% | 0.0% |
| CONTOUR MORTGAGE CORPORATION | $75,000 | n/a | 0.0% | |
| EVANSVILLE TEACHERS | $75,000 | n/a | 0.0% | |
| Fortress Bank | $75,000 | n/a | 0.0% | |
| Home Loan Investment Bank, F.S.B. | $75,000 | n/a | 0.0% | |
| Illinois State Police Federal Credit Union | $975,000 | $75,000 | -92.3% | 0.0% |
| 1ST MIDAMERICA | $65,000 | n/a | 0.0% | |
| Community Mortgage Banc Corporation | $65,000 | n/a | 0.0% | |
| MYCUMORTGAGE, LLC | $65,000 | n/a | 0.0% | |
| Nations Lending Corporation | $770,000 | $65,000 | -91.6% | 0.0% |
| Pike Bancorp | $65,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $415,000 | $55,000 | -86.7% | 0.0% |
| Bank of O'Fallon | $55,000 | n/a | 0.0% | |
| GUARANTEED RATE AFFINITY, LLC | $55,000 | n/a | 0.0% | |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $345,000 | $55,000 | -84.1% | 0.0% |
| M&T Bank | $35,000 | $45,000 | 28.6% | 0.0% |
| First Bank | $115,000 | $35,000 | -69.6% | 0.0% |
| FIRST COMMUNITY | $25,000 | n/a | 0.0% | |
| TOGETHER CREDIT UNION | $25,000 | n/a | 0.0% | |
| Centier Bank | $15,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $15,000 | n/a | 0.0% |
SPRINGFIELD's top lender by overall market share is INB, with 13.3% market share. In second place, with 9.2%, is Bank of Springfield, having originated $57,320,000 in loans. In third place, with 8.2%, is United Community Bank, having originated $50,895,000 in loans. In fourth place, with 4.9%, is FLAT BRANCH MORTGAGE, INC., having originated $30,375,000 in loans. In fifth place, with 4.3%, is Heartland Bank and Trust Company, having originated $26,460,000 in loans.
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.
| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 62515 | Springfield, IL MSA | $680 | $820 | $1,010 | $1,320 | $1,390 |
| 62520 | Springfield, IL MSA | $680 | $830 | $1,020 | $1,340 | $1,400 |
| 62530 | Springfield, IL MSA | $620 | $760 | $930 | $1,220 | $1,280 |
| 62536 | Springfield, IL MSA | $680 | $820 | $1,010 | $1,330 | $1,390 |
| 62539 | Springfield, IL MSA | $580 | $710 | $870 | $1,140 | $1,200 |
| 62545 | Springfield, IL MSA | $530 | $650 | $800 | $1,050 | $1,100 |
| 62548 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62558 | Springfield, IL MSA | $630 | $760 | $940 | $1,230 | $1,290 |
| 62561 | Springfield, IL MSA | $630 | $760 | $940 | $1,230 | $1,290 |
| 62563 | Springfield, IL MSA | $770 | $940 | $1,150 | $1,510 | $1,580 |
| 62612 | Springfield, IL MSA | $590 | $720 | $890 | $1,160 | $1,220 |
| 62613 | Springfield, IL MSA | $620 | $760 | $930 | $1,220 | $1,280 |
| 62615 | Springfield, IL MSA | $620 | $750 | $920 | $1,210 | $1,270 |
| 62625 | Springfield, IL MSA | $600 | $730 | $900 | $1,180 | $1,240 |
| 62629 | Springfield, IL MSA | $760 | $930 | $1,140 | $1,490 | $1,570 |
| 62642 | Springfield, IL MSA | $580 | $700 | $860 | $1,130 | $1,180 |
| 62659 | Springfield, IL MSA | $580 | $700 | $860 | $1,130 | $1,180 |
| 62661 | Springfield, IL MSA | $560 | $680 | $840 | $1,100 | $1,160 |
| 62666 | Springfield, IL MSA | $530 | $640 | $790 | $1,040 | $1,090 |
| 62670 | Springfield, IL MSA | $560 | $680 | $840 | $1,100 | $1,160 |
| 62673 | Springfield, IL MSA | $520 | $630 | $770 | $1,020 | $1,080 |
| 62675 | Springfield, IL MSA | $560 | $680 | $840 | $1,100 | $1,160 |
| 62677 | Springfield, IL MSA | $520 | $630 | $770 | $1,020 | $1,080 |
| 62684 | Springfield, IL MSA | $680 | $820 | $1,010 | $1,320 | $1,390 |
| 62688 | Springfield, IL MSA | $550 | $670 | $820 | $1,070 | $1,130 |
| 62689 | Springfield, IL MSA | $520 | $630 | $780 | $1,020 | $1,070 |
| 62690 | Springfield, IL MSA | $580 | $620 | $770 | $1,040 | $1,150 |
| 62692 | Springfield, IL MSA | $520 | $630 | $770 | $1,020 | $1,080 |
| 62693 | Springfield, IL MSA | $580 | $710 | $870 | $1,140 | $1,200 |
| 62701 | Springfield, IL MSA | $770 | $940 | $1,150 | $1,510 | $1,580 |
| 62702 | Springfield, IL MSA | $620 | $750 | $920 | $1,210 | $1,270 |
| 62703 | Springfield, IL MSA | $600 | $730 | $900 | $1,180 | $1,240 |
| 62704 | Springfield, IL MSA | $620 | $760 | $930 | $1,220 | $1,280 |
| 62705 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62706 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62707 | Springfield, IL MSA | $600 | $730 | $900 | $1,180 | $1,240 |
| 62708 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62711 | Springfield, IL MSA | $720 | $880 | $1,080 | $1,420 | $1,490 |
| 62712 | Springfield, IL MSA | $640 | $780 | $960 | $1,260 | $1,320 |
| 62716 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62719 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62726 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62736 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62756 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62764 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62776 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62781 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62791 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
| 62796 | Springfield, IL MSA | $610 | $740 | $910 | $1,190 | $1,250 |
2022 Average & Median Rent Data Statistics
SPRINGFIELD, IL average 1BR rent: $741, median: $740
SPRINGFIELD, IL average 2BR rent: $911, median: $910
SPRINGFIELD, IL average 3BR rent: $1,194, median: $1,190
SPRINGFIELD, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,627 | $485,865,000 | $184,951 |
| Refi | 515 | $58,555,000 | $113,699 |
| Cash Out Refi | 303 | $42,815,000 | $141,304 |
| Home Improvement | 267 | $19,105,000 | $71,554 |
| Other | 257 | $15,475,000 | $60,214 |
Springfield's most frequently cited loan purpose was Home Purchase, with 2,627 originations. The 2nd most popular reason was Refi, with 515 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,491 | $259,455,000 | $174,014 |
| 7-8% | 941 | $147,065,000 | $156,286 |
| 5-6% | 474 | $89,470,000 | $188,755 |
| Over 8% | 398 | $42,710,000 | $107,312 |
| 4-5% | 139 | $9,535,000 | $68,597 |
| <2.5% | 20 | $250,000 | $12,500 |
| 3-4% | 5 | $445,000 | $89,000 |
| 2.5-3% | 1 | $195,000 | $195,000 |
During 2023, Springfield's most frequently originated rate bucket was 6-7%, with 1,491 originations.
Loan Sizing (SPRINGFIELD, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 1,654 | $90,590,000 | $54,770 |
| $100k-200k | 1,403 | $200,065,000 | $142,598 |
| $200k-400k | 752 | $203,630,000 | $270,785 |
| $400k-600k | 114 | $53,020,000 | $465,088 |
| $600k-1000k | 34 | $24,840,000 | $730,588 |
| $Over $1MM | 12 | $49,670,000 | $4,139,167 |
SPRINGFIELD's loan sizing saw the bucket of loans from $100,000 or less with 1,654 originations, totaling $90,590,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,606 | $290,850,000 | $181,102 |
| 60-80% | 758 | $153,940,000 | $203,087 |
| Under 20% | 415 | $18,755,000 | $45,193 |
| 20-40% | 369 | $30,425,000 | $82,453 |
| 40-60% | 286 | $46,680,000 | $163,217 |
| Over 100% | 28 | $7,440,000 | $265,714 |
SPRINGFIELD's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,606 originations, totaling $290,850,000 in origination value.