Sterling Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Sterling averaged
6.91%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
7.14% and
one month ago for the week of 2025-05-15, the
average rate was 7.11%.
Sterling's average rate one year ago was 7.15%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.21%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
Sterling 30 Year Fixed Rate | 2025-06-18 | 6.91% |
Sterling 30 Year Fixed Rate Refi | 2025-06-18 | 7.21% |
Sterling 15 Year Fixed Rate | 2025-06-18 | 6.06% |
Sterling 15 Year Fixed Rate Refi | 2025-06-18 | 5.86% |
Sterling 30 Year FHA | 2025-06-18 | 0.21% |
Sterling 30 Year FHA Refi | 2025-06-18 | -0.2% |
Sterling 30 Year USDA | 2025-06-18 | 0.2% |
Sterling 30 Year USDA Refi | 2025-06-18 | -0.2% |
Sterling 30 Year VA | 2025-06-18 | 0% |
Sterling 30 Year VA Refi | 2025-06-18 | -0.2% |
Sterling 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 Sterling, 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.).
Sterling Average Closing Costs & Other Stats
Sterling, IL's 51 lenders originated 675
loans during 2024. The total origination value was $78,275,000, with an average loan value of
$115,963.
Sterling's average closing costs are $3,790.
The top Sterling lender as defined by loan originations is QUICKEN LOANS, LLC, with
19 loans originated. Their average total fees are
$5,372, which is $2,225
higher than the next largest lender,
U.S. Bank.
The lowest fee Sterling lenders (with over 10 loans originated) are
I. H. MISSISSIPPI VALLEY CREDIT UNION ($1,654), U.S. Bank ($3,147), GUILD MORTGAGE COMPANY ($4,805), QUICKEN LOANS, LLC ($5,372) and .
The lowest rate Sterling lenders (with over 10 loans originated) are
I. H. MISSISSIPPI VALLEY CREDIT UNION (6.33%), GUILD MORTGAGE COMPANY (6.74%), U.S. Bank (6.81%), QUICKEN LOANS, LLC (7.00%) and .
Sterling, 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
---|---|---|---|---|
Sauk Valley Bank & Trust Company | $8,005,000 | $9,825,000 | 22.7% | 12.6% |
Farmers National Bank | $4,430,000 | $5,580,000 | 26.0% | 7.1% |
Central Bank Illinois | $4,825,000 | $4,725,000 | -2.1% | 6.0% |
Mortgage Research Center, LLC | $2,350,000 | $4,545,000 | 93.4% | 5.8% |
QUICKEN LOANS, LLC | $3,760,000 | $4,415,000 | 17.4% | 5.6% |
U.S. Bank | $3,370,000 | $4,230,000 | 25.5% | 5.4% |
GUILD MORTGAGE COMPANY | $3,595,000 | $3,635,000 | 1.1% | 4.6% |
GREENSTATE CREDIT UNION | $2,325,000 | $2,125,000 | -8.6% | 2.7% |
UNITED WHOLESALE MORTGAGE, LLC | $1,360,000 | $1,980,000 | 45.6% | 2.5% |
BROKER SOLUTIONS, INC. | $2,185,000 | $1,685,000 | -22.9% | 2.2% |
I. H. MISSISSIPPI VALLEY CREDIT UNION | $485,000 | $1,660,000 | 242.3% | 2.1% |
Midland States Bank | $2,040,000 | $1,640,000 | -19.6% | 2.1% |
NAVY FEDERAL CREDIT UNION | $640,000 | $1,340,000 | 109.4% | 1.7% |
ASCENTRA | $2,775,000 | $1,280,000 | -53.9% | 1.6% |
PENNYMAC LOAN SERVICES, LLC | $305,000 | $1,165,000 | 282.0% | 1.5% |
Morton Community Bank | $885,000 | $1,125,000 | 27.1% | 1.4% |
First Central State Bank | $15,000 | $1,090,000 | 7,166.7% | 1.4% |
Flanagan State Bank | $485,000 | $950,000 | 95.9% | 1.2% |
LOANDEPOT.COM, LLC | $715,000 | $950,000 | 32.9% | 1.2% |
HOMESIDE FINANCIAL, LLC | $1,055,000 | $880,000 | -16.6% | 1.1% |
Fifth Third Bank | $425,000 | $770,000 | 81.2% | 1.0% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,325,000 | $765,000 | -42.3% | 1.0% |
Key Mortgage Services, Inc. | $550,000 | $765,000 | 39.1% | 1.0% |
First Federal Bank | $760,000 | n/a | 1.0% | |
FREEDOM MORTGAGE CORPORATION | $560,000 | $755,000 | 34.8% | 1.0% |
JPMorgan Chase Bank | $395,000 | $685,000 | 73.4% | 0.9% |
AMERISAVE MORTGAGE CORPORATION | $325,000 | $655,000 | 101.5% | 0.8% |
USAA Federal Savings Bank | $55,000 | $600,000 | 990.9% | 0.8% |
PREMIA MORTGAGE, LLC | $590,000 | n/a | 0.8% | |
Deere Employees Credit Union | $285,000 | $550,000 | 93.0% | 0.7% |
ZILLOW HOME LOANS, LLC | $65,000 | $520,000 | 700.0% | 0.7% |
Wells Fargo Bank | $465,000 | $490,000 | 5.4% | 0.6% |
SUCCESS MORTGAGE PARTNERS, INC. | $95,000 | $475,000 | 400.0% | 0.6% |
CROSSCOUNTRY MORTGAGE, LLC | $1,705,000 | $470,000 | -72.4% | 0.6% |
Hometown National Bank | $465,000 | n/a | 0.6% | |
CALCON MUTUAL MORTGAGE LLC | $455,000 | n/a | 0.6% | |
Barrington Bank & Trust Company, N.A. | $485,000 | $415,000 | -14.4% | 0.5% |
GUARANTEED RATE, INC. | $250,000 | $415,000 | 66.0% | 0.5% |
RUHL MORTGAGE, LLC | $860,000 | $410,000 | -52.3% | 0.5% |
ENVOY MORTGAGE, LTD | $400,000 | n/a | 0.5% | |
NEWREZ LLC | $535,000 | $380,000 | -29.0% | 0.5% |
Paramount Residential Mortgage Group, Inc. | $355,000 | $360,000 | 1.4% | 0.5% |
FIRST STATE MORTGAGE SERVICES, LLC | $350,000 | n/a | 0.4% | |
Bank of America | $345,000 | n/a | 0.4% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $440,000 | $345,000 | -21.6% | 0.4% |
American Mortgage & Equity Consultants, Inc. | $305,000 | n/a | 0.4% | |
International Bank of Chicago | $305,000 | n/a | 0.4% | |
Old Second National Bank | $305,000 | n/a | 0.4% | |
Community Mortgage Banc Corporation | $300,000 | $285,000 | -5.0% | 0.4% |
S1L, Inc. | $280,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $115,000 | $270,000 | 134.8% | 0.3% |
Stillman Bank | $75,000 | $265,000 | 253.3% | 0.3% |
MID AMERICA MORTGAGE, INC. | $265,000 | $260,000 | -1.9% | 0.3% |
MOVEMENT MORTGAGE, LLC | $260,000 | n/a | 0.3% | |
Mr. Cooper ( Nationstar Mortgage ) | $230,000 | $260,000 | 13.0% | 0.3% |
Cornerstone Credit Union | $200,000 | $230,000 | 15.0% | 0.3% |
American Bank and Trust Company | $395,000 | $220,000 | -44.3% | 0.3% |
First State Bank | $120,000 | $220,000 | 83.3% | 0.3% |
Ixonia Bank | $780,000 | $220,000 | -71.8% | 0.3% |
PLAZA HOME MORTGAGE, INC. | $115,000 | $205,000 | 78.3% | 0.3% |
DuTrac Community Credit Union | $230,000 | $195,000 | -15.2% | 0.2% |
Figure Lending LLC | $35,000 | $195,000 | 457.1% | 0.2% |
Quad City Bank and Trust Company | $195,000 | n/a | 0.2% | |
Peoples National Bank of Kewanee | $535,000 | $190,000 | -64.5% | 0.2% |
COMMUNITY STATE BANK | $185,000 | n/a | 0.2% | |
AMERICAN FINANCIAL RESOURCES, INC. | $175,000 | n/a | 0.2% | |
AXIA FINANCIAL, LLC | $175,000 | n/a | 0.2% | |
INB | $175,000 | n/a | 0.2% | |
NORTHWEST BANK OF ROCKFORD | $175,000 | n/a | 0.2% | |
VILLAGE CAPITAL MORTGAGE | $125,000 | $175,000 | 40.0% | 0.2% |
CANOPY MORTGAGE, LLC | $165,000 | n/a | 0.2% | |
COMPEER FINANCIAL, FLCA | $470,000 | $155,000 | -67.0% | 0.2% |
DUPACO COMMUNITY | $80,000 | $155,000 | 93.8% | 0.2% |
OCEANSIDE MORTGAGE COMPANY | $155,000 | n/a | 0.2% | |
T2 FINANCIAL LLC | $155,000 | n/a | 0.2% | |
TOWNE MORTGAGE COMPANY | $155,000 | n/a | 0.2% | |
TruHome Solutions, LLC | $155,000 | n/a | 0.2% | |
AMERICAN FINANCIAL NETWORK, INC. | $145,000 | n/a | 0.2% | |
BETTER MORTGAGE CORPORATION | $145,000 | n/a | 0.2% | |
Carrington Mortgage Services, LLC | $145,000 | n/a | 0.2% | |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $145,000 | n/a | 0.2% | |
Armed Forces Bank | $135,000 | n/a | 0.2% | |
North Shore Trust and Savings | $130,000 | n/a | 0.2% | |
UNION HOME MORTGAGE CORP. | $140,000 | $130,000 | -7.1% | 0.2% |
ALLIANT CREDIT UNION | $125,000 | n/a | 0.2% | |
FINANCE OF AMERICA REVERSE LLC | $125,000 | n/a | 0.2% | |
FLAT BRANCH MORTGAGE, INC. | $165,000 | $125,000 | -24.2% | 0.2% |
LEADERONE FINANCIAL CORPORATION | $155,000 | $125,000 | -19.4% | 0.2% |
THE FAMILY CREDIT UNION | $125,000 | n/a | 0.2% | |
Bell Bank | $115,000 | n/a | 0.1% | |
Union Savings Bank | $105,000 | n/a | 0.1% | |
BMO Harris Bank | $75,000 | $75,000 | 0.0% | 0.1% |
Coastal Community Bank | $120,000 | $70,000 | -41.7% | 0.1% |
AMERICAN FINANCING CORPORATION | $65,000 | n/a | 0.1% | |
CIBM Bank | $115,000 | $65,000 | -43.5% | 0.1% |
Equity Prime Mortgage LLC | $125,000 | $65,000 | -48.0% | 0.1% |
First Community Credit Union | $65,000 | n/a | 0.1% | |
First Federal Savings Bank | $65,000 | n/a | 0.1% | |
TBK BANK, SSB | $155,000 | $55,000 | -64.5% | 0.1% |
Connexus Credit Union | $35,000 | n/a | 0.0% | |
Discover Bank | $55,000 | $35,000 | -36.4% | 0.0% |
Third Federal Savings and Loan Association of Cleveland | $35,000 | n/a | 0.0% | |
PNC Bank | $225,000 | $25,000 | -88.9% | 0.0% |
WINGS FINANCIAL | $15,000 | $25,000 | 66.7% | 0.0% |
NUMARK CREDIT UNION | $15,000 | n/a | 0.0% |
Sterling's top lender by overall market share is Sauk Valley Bank & Trust Company, with 12.6% market share. In second place, with 7.1%, is Farmers National Bank, having originated $5,580,000 in loans. In third place, with 6.0%, is Central Bank Illinois, having originated $4,725,000 in loans. In fourth place, with 5.8%, is Mortgage Research Center, LLC, having originated $4,545,000 in loans. In fifth place, with 5.6%, is QUICKEN LOANS, LLC, having originated $4,415,000 in loans.
Sterling, IL Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 413 | $55,575,000 | $134,564 |
Refi | 116 | $11,490,000 | $99,052 |
Cash Out Refi | 64 | $7,670,000 | $119,844 |
Other | 48 | $2,310,000 | $48,125 |
Home Improvement | 34 | $1,230,000 | $36,176 |
Sterling's most frequently cited loan purpose was Home Purchase, with 413 originations. The 2nd most popular reason was Refi, with 116 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 240 | $34,330,000 | $143,042 |
7-8% | 101 | $11,585,000 | $114,703 |
Over 8% | 56 | $2,320,000 | $41,429 |
5-6% | 43 | $5,795,000 | $134,767 |
<2.5% | 13 | $95,000 | $7,308 |
4-5% | 12 | $990,000 | $82,500 |
During 2024, Sterling's most frequently originated rate bucket was 6-7%, with 240 originations.
Loan Sizing (Sterling, IL MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 320 | $17,380,000 | $54,313 |
$100k-200k | 278 | $38,200,000 | $137,410 |
$200k-400k | 66 | $17,120,000 | $259,394 |
$400k-600k | 10 | $4,490,000 | $449,000 |
$Over $1MM | 1 | $1,085,000 | $1,085,000 |
Sterling's loan sizing saw the bucket of loans from $100,000 or less with 320 originations, totaling $17,380,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 249 | $35,895,000 | $144,157 |
60-80% | 73 | $9,385,000 | $128,562 |
20-40% | 50 | $2,650,000 | $53,000 |
Under 20% | 50 | $1,410,000 | $28,200 |
40-60% | 29 | $2,975,000 | $102,586 |
Over 100% | 8 | $1,820,000 | $227,500 |
Sterling's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 249 originations, totaling $35,895,000 in origination value.