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 6.43% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2024-12-05) was 6.42% and one month ago for the week of 2024-11-07, the average rate was 6.82%.

    Springfield's average rate one year ago was 7.16%.

    For refis of the same type during the week of 2024-12-12, the average rate was 6.47%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-12-12 6.6%
    Springfield 30 Year Fixed Rate 2024-12-12 6.43%
    Springfield 30 Year Fixed Rate Refi 2024-12-12 6.47%
    Springfield 15 Year Fixed Rate 2024-12-12 6.26%
    Springfield 15 Year Fixed Rate Refi 2024-12-12 6.14%
    Springfield 30 Year FHA 2024-12-12 6.14%
    Springfield 30 Year FHA Refi 2024-12-12 6.18%
    Springfield 30 Year USDA 2024-12-12 6.2%
    Springfield 30 Year USDA Refi 2024-12-12 6.5%
    Springfield 30 Year VA 2024-12-12 6.07%
    Springfield 30 Year VA Refi 2024-12-12 5.88%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    INB 243 6.95% $2,293
    Bank of Springfield 189 6.56% $2,197
    United Community Bank 125 6.70% $1,822
    Heartland Bank and Trust Company 112 6.63% $2,192
    HEARTLAND 102 6.42% $1,986
    FLAT BRANCH MORTGAGE, INC. 97 6.81% $3,195
    CITIZENS EQUITY FIRST 69 6.59% $1,367
    Morton Community Bank 51 6.66% $2,422
    Carrollton Bank 40 6.47% $2,250
    QUICKEN LOANS, LLC 34 6.97% $5,654
    Marine Bank 32 6.02% $1,863
    PNC Bank 31 6.90% $2,913
    JPMorgan Chase Bank 25 7.04% $3,579
    Prairie State Bank and Trust 24 6.58% $1,819
    Petefish, Skiles & Co. 24 6.35% $1,882
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 20 6.87% $4,889
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 17 6.98% $5,001
    U.S. Bank 16 7.14% $2,603
    GUARANTEED RATE, INC. 16 7.05% $4,443
    Regions Bank 15 6.72% $2,879
    LEADERONE FINANCIAL CORPORATION 11 7.11% $4,890
    FIRST STATE MORTGAGE SERVICES, LLC 10 6.39% $3,785
    Wells Fargo Bank 9 6.51% $4,026
    UNITED WHOLESALE MORTGAGE, LLC 9 6.86% $6,330
    CROSSCOUNTRY MORTGAGE, LLC 7 6.97% $4,733
    USAA Federal Savings Bank 6 6.60% $4,254
    Credit Union 1 5 7.15% $3,888
    GUILD MORTGAGE COMPANY 5 6.98% $3,873
    BROKER SOLUTIONS, INC. 5 7.05% $3,810
    Fifth Third Bank 4 6.34% $7,139
    DAS Acquisition Company, LLC 4 6.56% $3,997
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.75% $2,708
    Bank of America 3 6.71% $3,032
    NAVY FEDERAL CREDIT UNION 3 7.21% $1,678
    CNB Bank And Trust, N.A. 3 7.08% $2,568
    MEMBER FIRST MORTGAGE, LLC 3 6.92% $3,326
    LOANDEPOT.COM, LLC 3 6.79% $8,882
    PENTAGON FEDERAL CREDIT UNION 2 6.00% $3,559
    Busey Bank 2 6.69% $2,259
    CALIBER HOME LOANS, INC. 2 7.06% $4,583
    CHURCHILL MORTGAGE CORPORATION 2 8.63% $5,404
    CIBM Bank 2 6.75% $3,037
    CMG MORTGAGE, INC. 2 6.63% $6,490
    COMPASS MORTGAGE, INC. 2 6.69% $3,286
    Farm Credit Mid-America, ACA 2 7.31% $5,591
    First Bankers Trust Company 2 8.25% $2,439
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 5.88% $2,218
    GUIDANCE RESIDENTIAL, LLC 2 7.13% $5,549
    LAKE MICHIGAN CREDIT UNION 2 5.13% $2,983
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.38% $6,231
    ROYAL UNITED MORTGAGE LLC 2 7.06% $6,482
    THRIVE MORTGAGE, LLC 2 7.44% $4,534
    ZILLOW HOME LOANS, LLC 2 6.88% $4,245
    First Federal Savings and Loan Association of Lakewood 1 5.50% $2,257
    HOMESIDE FINANCIAL, LLC 1 6.38% $2,993
    I. H. MISSISSIPPI VALLEY CREDIT UNION 1 7.50% $2,152
    DUPACO COMMUNITY 1 5.13% $2,391
    INTERCAP LENDING INC. 1 6.88% $7,441
    DIGITAL Federal Credit Union 1 5.63% $2,565
    Key Mortgage Services, Inc. 1 6.38% $5,563
    University of Wisconsin Credit Union 1 5.75% $1,831
    DELMAR FINANCIAL COMPANY 1 7.99% $2,740
    Deere Employees Credit Union 1 6.75% $2,949
    CONSUMERS COOPERATIVE CREDIT UNION 1 7.38% $4,003
    Colonial Savings, F.A. 1 6.63% $5,998
    MORTGAGE ACCESS CORP. 1 6.25% $3,744
    Mortgage Research Center, LLC 1 6.25% $863
    CITY-COUNTY CREDIT UNION 1 6.75% $3,148
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $6,841
    Nations Lending Corporation 1 5.88% $4,867
    CHARTER WEST BANK 1 6.99% $5,684
    Northpointe Bank 1 6.00% $4,415
    Old National Bank 1 6.75% $5,441
    1ST MIDAMERICA 1 6.25% $2,245
    BETTER MORTGAGE CORPORATION 1 6.75% $2,638
    Plains Commerce Bank 1 7.75% $2,582
    BAY-VALLEY MORTGAGE GROUP 1 7.50% $5,543
    Barrington Bank & Trust Company, N.A. 1 6.50% $3,615
    American Bank of Missouri 1 9.00% $1,169
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 5.75% $2,596
    Associated Bank 1 5.50% $2,183
    QUORUM FEDERAL CREDIT UNION 1 6.38% $1,969
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $12,059
    ALLIED MORTGAGE GROUP, INC. 1 7.00% $6,252
    SCOTT CREDIT UNION 1 7.63% $2,481
    Servion, Inc. 1 6.75% $100
    Stifel Bank and Trust 1 5.38% $1,715
    The Central Trust Bank 1 6.62% $1,563
    The Federal Savings Bank 1 6.88% $12,186
    The Huntington National Bank 1 5.75% $2,810
    AFFINITY 1 5.88% $2,547
    American Mortgage & Equity Consultants, Inc. 1 6.50% $4,165
    GREENSTATE CREDIT UNION 1 6.75% $2,039
    GUARANTEED RATE AFFINITY, LLC 1 7.10% $2,723
    GENEVA FINANCIAL, LLC 1 6.63% $6,623
    AMERICAN FINANCING CORPORATION 1 6.99% $4,756
    Gate City Bank 1 6.88% $4,855
    Flagstar Bank, FSB 1 5.38% $7,030

    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 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
    2024-01-01 $169,100 (7.4%) $251,057 (7.8%) 0.41 172
    2024-02-01 $174,925 (12.9%) $253,375 (7.0%) 0.42 166
    2024-03-01 $180,000 (20.4%) $255,181 (7.7%) 0.42 183
    2024-04-01 $198,675 (10.4%) $260,212 (3.7%) 0.46 199
    2024-05-01 $216,225 (18.4%) $283,367 (6.5%) 0.49 208
    2024-06-01 $207,250 (11.2%) $278,733 (0.6%) 0.47 217
    2024-07-01 $211,200 (17.4%) $278,215 (3.9%) 0.48 221
    2024-08-01 $209,900 (7.9%) $273,936 (-0.9%) 0.49 240
    2024-09-01 $209,075 (17.8%) $279,745 (3.1%) 0.49 259
    2024-10-01 $199,125 (15.5%) $283,385 (8.7%) 0.47 248
    2024-11-01 $189,950 (5.6%) $261,488 (0.7%) 0.46 269
    SPRINGFIELD's median listing price for 2024-11-01 was $189,950, a difference of $10,000 (5.6%) versus the prior year and $-9,175 versus the prior month.

    SPRINGFIELD's median listing price comes in at 46% of the national average.

    SPRINGFIELD's average listing price for 2024-11-01 was $261,488, a difference of $1,713 (0.7%) versus the prior year and $-21,897 versus the prior month.

    For the 2024-11-01 period, SPRINGFIELD had 269 MLS listings, a difference of 21 listings (8%) versus the prior month and 52 listings (24%) 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 65 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 1,784 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
    2024-01-01 52 days 1,745 sqft
    2024-02-01 43 days 1,759 sqft
    2024-03-01 35 days 1,685 sqft
    2024-04-01 32 days 1,733 sqft
    2024-05-01 23 days 1,808 sqft
    2024-06-01 33 days 1,792 sqft
    2024-07-01 32 days 1,821 sqft
    2024-08-01 36 days 1,863 sqft
    2024-09-01 37 days 1,852 sqft
    2024-10-01 38 days 1,857 sqft
    2024-11-01 39 days 1,777 sqft
    SPRINGFIELD's median listing age (time on market) for 2024-11-01 was 39 days. This is -3% shorter than the same period one year ago.

    SPRINGFIELD's median square footage for active listings during the 2024-11-01 period was 1,777 sqft. One year prior, the average listing was 1,794 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 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.