Sterling Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Sterling averaged 6.78% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 6.97% and one month ago for the week of 2023-08-17, the average rate was 6.68%.

Sterling's average rate one year ago was 5.91%.

For refis of the same type during the week of 2023-09-21, the average rate was 7.19%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Sterling 30 Year Fixed Rate 2023-09-21 6.78%
Sterling 30 Year Fixed Rate Refi 2023-09-21 7.19%
Sterling 15 Year Fixed Rate 2023-09-21 6.44%
Sterling 15 Year Fixed Rate Refi 2023-09-21 7.14%
Sterling 30 Year FHA 2023-09-21 6.8%
Sterling 30 Year FHA Refi 2023-09-21 7.14%
Sterling 30 Year USDA 2023-09-21 7.12%
Sterling 30 Year USDA Refi 2023-09-21 6.82%
Sterling 30 Year VA 2023-09-21 6.82%
Sterling 30 Year VA Refi 2023-09-21 6.92%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Sterling, IL.

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.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
U.S. Bank 29 5.14% $2,497
ASCENTRA 13 3.96% $1,885
QUICKEN LOANS, LLC 13 5.17% $4,921
GREENSTATE CREDIT UNION 11 3.89% $1,867
I. H. MISSISSIPPI VALLEY CREDIT UNION 9 4.14% $1,845
Ixonia Bank 9 5.05% $4,335
Vibrant Credit Union 9 4.60% $2,149
HOMESIDE FINANCIAL, LLC 8 5.64% $3,791
Central Bank Illinois 7 4.84% $1,570
Deere Employees Credit Union 6 4.54% $2,661
Waterstone Mortgage Corporation 5 6.18% $4,692
Midland States Bank 5 6.43% $3,379
JPMorgan Chase Bank 5 5.17% $2,985
FINANCE OF AMERICA MORTGAGE LLC 5 5.07% $4,202
Mr. Cooper ( Nationstar Mortgage ) 4 5.28% $5,786
Wells Fargo Bank 4 4.75% $3,411
LOANDEPOT.COM, LLC 4 6.78% $4,072
DuTrac Community Credit Union 4 4.09% $2,536
CALIBER HOME LOANS, INC. 4 6.00% $4,012
Morton Community Bank 4 5.06% $3,048
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 5.09% $3,748
Fifth Third Bank 3 5.08% $2,994
Flagstar Bank, FSB 3 4.87% $4,348
Mortgage Research Center, LLC 3 5.13% $2,795
Community Mortgage Banc Corporation 3 6.62% $4,741
BROKER SOLUTIONS, INC. 3 5.54% $4,995
R.I.A. Federal Credit Union 2 3.88% $2,296
Bankers' Bank 2 4.13% $2,589
NEWREZ LLC 2 5.00% $4,225
PENNYMAC LOAN SERVICES, LLC 2 4.94% $5,814
Key Mortgage Services, Inc. 2 5.25% $2,464
ROYAL UNITED MORTGAGE LLC 2 4.63% $5,560
RUHL MORTGAGE, LLC 2 5.31% $2,841
Stillman Bank 2 4.44% $1,913
COMPEER FINANCIAL, FLCA 2 4.75% $3,109
FREEDOM MORTGAGE CORPORATION 2 6.19% $4,110
UNITED WHOLESALE MORTGAGE, LLC 2 5.94% $3,372
CROSSCOUNTRY MORTGAGE, LLC 2 5.98% $3,930
Discover Bank 2 7.99% $0
ZILLOW HOME LOANS, LLC 1 7.50% $3,691
American Bank and Trust Company 1 4.50% $3,618
Bank of America 1 3.75% $2,832
BOKF 1 7.13% $2,762
CHERRY CREEK MORTGAGE, LLC 1 6.88% $625
CHURCHILL MORTGAGE CORPORATION 1 5.13% $3,516
Citizens Bank 1 4.88% $3,320
COMPASS MORTGAGE, INC. 1 6.50% $4,424
DUPACO COMMUNITY 1 5.75% $2,488
ENDEAVOR CAPITAL, LLC. 1 5.49% $4,532
ENVOY MORTGAGE, LTD 1 4.25% $2,818
First American Bank 1 6.63% $2,477
FIRST CENTENNIAL MORTGAGE CORPORATION 1 5.88% $1,747
First Federal Savings Bank 1 5.75% $2,121
Flanagan State Bank 1 6.38% $2,074
GUARANTEED RATE AFFINITY, LLC 1 4.75% $3,072
GUARANTEED RATE, INC. 1 5.58% $3,186
ILLINOIS STATE CREDIT UNION 1 6.13% $1,913
LAKEVIEW LOAN SERVICING, LLC 1 3.50% $3,088
Marine Bank 1 5.25% $1,890
MEMBER FIRST MORTGAGE, LLC 1 5.50% $2,899
Midwest Community Bank 1 5.25% $2,141
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.38% $7,682
NBKC BANK 1 6.38% $1,997
Old Second National Bank 1 6.38% $5,248
PNC Bank 1 3.38% $4,748
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.88% $6,163
Regions Bank 1 3.38% $2,580
Servion, Inc. 1 4.13% $3,805
The Federal Savings Bank 1 5.88% $4,058
THRIVENT Federal Credit Union 1 4.75% $2,586
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.00% $2,681
WINGS FINANCIAL 1 3.88% $2,648
Ally Bank 1 5.50% $1,095

Sterling Average Closing Costs & Other Stats

Sterling, IL's 73 lenders originated 904 loans during 2022. The total origination value was $104,650,000, with an average loan value of $115,763.

Sterling's average closing costs are $3,561.

The top Sterling lender as defined by loan originations is U.S. Bank, with 29 loans originated. Their average total fees are $2,497, which is $612 higher than the next largest lender, ASCENTRA.

The lowest fee Sterling lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION ($1,867), ASCENTRA ($1,885), U.S. Bank ($2,497), QUICKEN LOANS, LLC ($4,921) and .

The lowest rate Sterling lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (3.89%), ASCENTRA (3.96%), U.S. Bank (5.14%), QUICKEN LOANS, LLC (5.17%) 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Sauk Valley Bank & Trust Company $16,545,000 $10,225,000 -38.2% 9.8%
U.S. Bank $16,910,000 $8,445,000 -50.1% 8.1%
Central Bank Illinois $6,550,000 $6,435,000 -1.8% 6.1%
Farmers National Bank $13,495,000 $6,330,000 -53.1% 6.0%
QUICKEN LOANS, LLC $9,805,000 $5,860,000 -40.2% 5.6%
Ixonia Bank $8,555,000 $5,135,000 -40.0% 4.9%
Mortgage Research Center, LLC $5,340,000 $3,850,000 -27.9% 3.7%
HOMESIDE FINANCIAL, LLC $6,810,000 $2,865,000 -57.9% 2.7%
Morton Community Bank $2,270,000 $2,825,000 24.4% 2.7%
ASCENTRA $4,005,000 $2,655,000 -33.7% 2.5%
FINANCE OF AMERICA MORTGAGE LLC $4,210,000 $2,590,000 -38.5% 2.5%
Waterstone Mortgage Corporation $2,120,000 n/a 2.0%
BROKER SOLUTIONS, INC. $1,045,000 $1,890,000 80.9% 1.8%
GREENSTATE CREDIT UNION $1,465,000 $1,825,000 24.6% 1.7%
Midland States Bank $2,690,000 $1,795,000 -33.3% 1.7%
Vibrant Credit Union $1,640,000 $1,780,000 8.5% 1.7%
I. H. MISSISSIPPI VALLEY CREDIT UNION $2,945,000 $1,765,000 -40.1% 1.7%
CALIBER HOME LOANS, INC. $2,670,000 $1,545,000 -42.1% 1.5%
COMPEER FINANCIAL, FLCA $685,000 $1,540,000 124.8% 1.5%
Deere Employees Credit Union $500,000 $1,300,000 160.0% 1.2%
LOANDEPOT.COM, LLC $2,190,000 $1,170,000 -46.6% 1.1%
First Central State Bank $1,605,000 $1,060,000 -34.0% 1.0%
JPMorgan Chase Bank $930,000 $1,015,000 9.1% 1.0%
FREEDOM MORTGAGE CORPORATION $3,155,000 $960,000 -69.6% 0.9%
AMERICAN PACIFIC MORTGAGE CORPORATION $835,000 $875,000 4.8% 0.8%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $595,000 $865,000 45.4% 0.8%
Fifth Third Bank $980,000 $865,000 -11.7% 0.8%
Wells Fargo Bank $1,800,000 $825,000 -54.2% 0.8%
AMERISAVE MORTGAGE CORPORATION $950,000 $770,000 -18.9% 0.7%
Mr. Cooper ( Nationstar Mortgage ) $1,615,000 $730,000 -54.8% 0.7%
Bankers' Bank $540,000 $690,000 27.8% 0.7%
UNITED WHOLESALE MORTGAGE, LLC $1,550,000 $690,000 -55.5% 0.7%
DuTrac Community Credit Union $525,000 $680,000 29.5% 0.6%
Community Mortgage Banc Corporation $855,000 $615,000 -28.1% 0.6%
PLAZA HOME MORTGAGE, INC. $115,000 $610,000 430.4% 0.6%
TBK BANK, SSB $295,000 $570,000 93.2% 0.5%
The Huntington National Bank $85,000 $570,000 570.6% 0.5%
Plains Commerce Bank $845,000 $545,000 -35.5% 0.5%
ROYAL UNITED MORTGAGE LLC $285,000 $545,000 91.2% 0.5%
PNC Bank $105,000 $500,000 376.2% 0.5%
Barrington Bank & Trust Company, N.A. $370,000 $485,000 31.1% 0.5%
CHERRY CREEK MORTGAGE, LLC $470,000 n/a 0.4%
Flagstar Bank, FSB $515,000 $465,000 -9.7% 0.4%
CHURCHILL MORTGAGE CORPORATION $135,000 $430,000 218.5% 0.4%
CROSSCOUNTRY MORTGAGE, LLC $425,000 n/a 0.4%
FIRST CENTENNIAL MORTGAGE CORPORATION $305,000 $415,000 36.1% 0.4%
GUARANTEED RATE, INC. $740,000 $415,000 -43.9% 0.4%
CMG MORTGAGE, INC. $370,000 n/a 0.4%
INLAND BANK & TRUST $360,000 n/a 0.3%
Midwest Community Bank $430,000 $355,000 -17.4% 0.3%
RUHL MORTGAGE, LLC $1,055,000 $340,000 -67.8% 0.3%
Mid-Continent Funding, Inc. $335,000 n/a 0.3%
The Federal Savings Bank $335,000 n/a 0.3%
Marine Bank $225,000 $330,000 46.7% 0.3%
PENNYMAC LOAN SERVICES, LLC $470,000 $330,000 -29.8% 0.3%
DUPACO COMMUNITY $325,000 n/a 0.3%
USAA Federal Savings Bank $1,170,000 $305,000 -73.9% 0.3%
FIRST STATE MORTGAGE SERVICES, LLC $295,000 n/a 0.3%
R.I.A. Federal Credit Union $515,000 $295,000 -42.7% 0.3%
Key Mortgage Services, Inc. $770,000 $290,000 -62.3% 0.3%
HOME POINT FINANCIAL CORPORATION $200,000 $280,000 40.0% 0.3%
NEWREZ LLC $1,050,000 $280,000 -73.3% 0.3%
Blackhawk Bank & Trust $265,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $210,000 $260,000 23.8% 0.2%
T2 FINANCIAL LLC $255,000 n/a 0.2%
BOKF $245,000 n/a 0.2%
First State Bank of Forrest $310,000 $245,000 -21.0% 0.2%
Neighborhood Loans, Inc. $235,000 n/a 0.2%
CIVIC FINANCIAL SERVICES, LLC $210,000 $225,000 7.1% 0.2%
MARINE $25,000 $225,000 800.0% 0.2%
Old Second National Bank $85,000 $225,000 164.7% 0.2%
Citizens Bank $220,000 n/a 0.2%
Discover Bank $165,000 $215,000 30.3% 0.2%
GUARANTEED RATE AFFINITY, LLC $85,000 $215,000 152.9% 0.2%
RF Renovo Management Company, LLC $215,000 n/a 0.2%
Stillman BancCorp N.A. $280,000 $210,000 -25.0% 0.2%
First American Bank $25,000 $205,000 720.0% 0.2%
MidAmerica National Bank $205,000 n/a 0.2%
MOVEMENT MORTGAGE, LLC $125,000 $195,000 56.0% 0.2%
Regions Bank $195,000 n/a 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $185,000 n/a 0.2%
First Federal Bank $125,000 $175,000 40.0% 0.2%
Allied First Bank,sb $165,000 n/a 0.2%
AMERICAN FINANCING CORPORATION $165,000 n/a 0.2%
HOMEBRIDGE FINANCIAL SERVICES, INC. $410,000 $165,000 -59.8% 0.2%
PRIMARY RESIDENTIAL MORTGAGE, INC. $165,000 n/a 0.2%
PHH Mortgage Corporation $160,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $1,170,000 $145,000 -87.6% 0.1%
Bank of America $125,000 $135,000 8.0% 0.1%
MORTGAGE SOLUTIONS OF COLORADO, LLC $135,000 n/a 0.1%
NBKC BANK $135,000 n/a 0.1%
SIRVA MORTGAGE, INC. $135,000 n/a 0.1%
BNC National Bank $805,000 $125,000 -84.5% 0.1%
COMPASS MORTGAGE, INC. $125,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $125,000 n/a 0.1%
Servion, Inc. $35,000 $125,000 257.1% 0.1%
First State Bank $165,000 $120,000 -27.3% 0.1%
LAKEVIEW LOAN SERVICING, LLC $200,000 $120,000 -40.0% 0.1%
First Savings Bank $115,000 n/a 0.1%
21ST MORTGAGE CORPORATION $15,000 $105,000 600.0% 0.1%
ENDEAVOR CAPITAL, LLC. $105,000 n/a 0.1%
MEMBER FIRST MORTGAGE, LLC $280,000 $105,000 -62.5% 0.1%
Paramount Residential Mortgage Group, Inc. $470,000 $105,000 -77.7% 0.1%
Flanagan State Bank $650,000 $100,000 -84.6% 0.1%
American Bank and Trust Company $430,000 $95,000 -77.9% 0.1%
Bank of England $155,000 $95,000 -38.7% 0.1%
Carrington Mortgage Services, LLC $405,000 $95,000 -76.5% 0.1%
CRESCENT MORTGAGE COMPANY $95,000 n/a 0.1%
First Guaranty Mortgage Corporation $270,000 $95,000 -64.8% 0.1%
WINGS FINANCIAL $95,000 n/a 0.1%
Ally Bank $85,000 n/a 0.1%
ILLINOIS STATE CREDIT UNION $65,000 $85,000 30.8% 0.1%
ENVOY MORTGAGE, LTD $420,000 $75,000 -82.1% 0.1%
Figure Lending LLC $90,000 $75,000 -16.7% 0.1%
First Federal Savings Bank $565,000 $75,000 -86.7% 0.1%
SUCCESS MORTGAGE PARTNERS, INC. $75,000 $75,000 0.0% 0.1%
ZILLOW HOME LOANS, LLC $75,000 n/a 0.1%
THRIVENT Federal Credit Union $145,000 $65,000 -55.2% 0.1%
VILLAGE CAPITAL MORTGAGE $725,000 $65,000 -91.0% 0.1%
Fidelity Bank & Trust $55,000 n/a 0.1%
Union Savings Bank $205,000 $45,000 -78.0% 0.0%
NORTHWEST BANK OF ROCKFORD $35,000 n/a 0.0%
Transportation Federal Credit Union $35,000 n/a 0.0%

Sterling's top lender by overall market share is Sauk Valley Bank & Trust Company, with 9.8% market share. In second place, with 8.1%, is U.S. Bank, having originated $8,445,000 in loans. In third place, with 6.1%, is Central Bank Illinois, having originated $6,435,000 in loans. In fourth place, with 6.0%, is Farmers National Bank, having originated $6,330,000 in loans. In fifth place, with 5.6%, is QUICKEN LOANS, LLC, having originated $5,860,000 in loans.


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

Realtor.com - Sterling (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 $89,900 (-9.8%) $110,614 (-9.2%) 0.00 252
2018-02-01 $89,950 (-9.7%) $114,807 (-8.3%) 0.00 242
2018-03-01 $89,900 (-12.7%) $117,849 (-8.5%) 0.00 224
2018-04-01 $91,900 (-7.6%) $119,210 (-2.4%) 0.00 239
2018-05-01 $89,900 (-9.9%) $116,679 (-8.5%) 0.00 255
2018-06-01 $92,700 (-9.5%) $120,166 (-7.0%) 0.00 273
2018-07-01 $99,700 (-0.2%) $133,199 (6.0%) 0.00 281
2018-08-01 $89,998 (-9.7%) $127,828 (2.9%) 0.00 293
2018-09-01 $94,900 (0.0%) $127,829 (6.4%) 0.00 298
2018-10-01 $96,575 (3.2%) $126,820 (7.2%) 0.00 274
2018-11-01 $99,900 (11.1%) $132,617 (20.8%) 0.00 256
2018-12-01 $99,200 (10.3%) $131,227 (19.7%) 0.00 252
2019-01-01 $98,675 (9.8%) $132,628 (19.9%) 0.00 237
2019-02-01 $96,425 (7.2%) $133,640 (16.4%) 0.00 228
2019-03-01 $96,614 (7.5%) $131,493 (11.6%) 0.00 229
2019-04-01 $94,900 (3.3%) $127,804 (7.2%) 0.00 236
2019-05-01 $97,400 (8.3%) $129,233 (10.8%) 0.00 234
2019-06-01 $99,900 (7.8%) $132,365 (10.2%) 0.00 227
2019-07-01 $99,900 (0.2%) $136,961 (2.8%) 0.00 236
2019-08-01 $97,173 (8.0%) $135,370 (5.9%) 0.00 248
2019-09-01 $93,082 (-1.9%) $132,820 (3.9%) 0.00 268
2019-10-01 $90,175 (-6.6%) $130,708 (3.1%) 0.00 279
2019-11-01 $89,900 (-10.0%) $129,244 (-2.5%) 0.00 274
2019-12-01 $88,625 (-10.7%) $129,536 (-1.3%) 0.00 256
2020-01-01 $89,375 (-9.4%) $129,886 (-2.1%) 0.00 233
2020-02-01 $89,000 (-7.7%) $134,065 (0.3%) 0.00 210
2020-03-01 $89,700 (-7.2%) $134,300 (2.1%) 0.00 213
2020-04-01 $93,350 (-1.6%) $125,688 (-1.7%) 0.00 209
2020-05-01 $91,900 (-5.7%) $127,396 (-1.4%) 0.00 194
2020-06-01 $94,450 (-5.5%) $129,932 (-1.8%) 0.00 182
2020-07-01 $84,900 (-15.0%) $136,083 (-0.6%) 0.00 179
2020-08-01 $89,900 (-7.5%) $137,136 (1.3%) 0.00 182
2020-09-01 $89,900 (-3.4%) $137,987 (3.9%) 0.00 177
2020-10-01 $89,900 (-0.3%) $134,993 (3.3%) 0.00 167
2020-11-01 $85,225 (-5.2%) $144,353 (11.7%) 0.00 156
2020-12-01 $85,375 (-3.7%) $132,627 (2.4%) 0.00 156
2021-01-01 $83,900 (-6.1%) $125,209 (-3.6%) 0.00 138
2021-02-01 $84,925 (-4.6%) $120,703 (-10.0%) 0.00 121
2021-03-01 $79,900 (-10.9%) $133,002 (-1.0%) 0.00 93
2021-04-01 $79,900 (-14.4%) $133,321 (6.1%) 0.00 90
2021-05-01 $79,900 (-13.1%) $132,624 (4.1%) 0.00 92
2021-06-01 $99,900 (5.8%) $136,049 (4.7%) 0.00 96
2021-07-01 $104,900 (23.6%) $129,736 (-4.7%) 0.00 108
2021-08-01 $110,000 (22.4%) $144,557 (5.4%) 0.00 120
2021-09-01 $112,450 (25.1%) $144,677 (4.9%) 0.00 120
2021-10-01 $107,900 (20.0%) $148,544 (10.0%) 0.00 108
2021-11-01 $114,900 (34.8%) $158,975 (10.1%) 0.00 117
2021-12-01 $99,575 (16.6%) $148,412 (11.9%) 0.00 121
2022-01-01 $103,950 (23.9%) $154,284 (23.2%) 0.00 104
2022-02-01 $103,198 (21.5%) $160,429 (32.9%) 0.00 84
2022-03-01 $96,475 (20.7%) $170,772 (28.4%) 0.00 74
2022-04-01 $107,450 (34.5%) $172,194 (29.2%) 0.00 69
2022-05-01 $117,400 (46.9%) $163,221 (23.1%) 0.00 86
2022-06-01 $117,450 (17.6%) $161,857 (19.0%) 0.00 96
2022-07-01 $119,900 (14.3%) $165,636 (27.7%) 0.00 113
2022-08-01 $132,400 (20.4%) $169,714 (17.4%) 0.00 127
2022-09-01 $133,650 (18.9%) $171,413 (18.5%) 0.00 127
2022-10-01 $134,900 (25.0%) $181,096 (21.9%) 0.00 122
2022-11-01 $141,075 (22.8%) $184,670 (16.2%) 0.00 116
2022-12-01 $129,900 (30.5%) $166,755 (12.4%) 0.00 107
2023-01-01 $121,225 (16.6%) $159,761 (3.6%) 0.00 103
2023-02-01 $119,900 (16.2%) $163,589 (2.0%) 0.00 99
2023-03-01 $141,625 (46.8%) $175,535 (2.8%) 0.00 85
2023-04-01 $148,700 (38.4%) $188,494 (9.5%) 0.00 66
2023-05-01 $141,150 (20.2%) $198,365 (21.5%) 0.00 73
2023-06-01 $138,450 (17.9%) $186,814 (15.4%) 0.00 78
2023-07-01 $133,400 (11.3%) $174,525 (5.4%) 0.00 86
2023-08-01 $133,900 (1.1%) $172,919 (1.9%) 0.00 91
Sterling's median listing price for 2023-08-01 was $133,900, a difference of $1,500 (1.1%) versus the prior year and $500 versus the prior month.

Sterling's median listing price comes in at 0% of the national average.

Sterling's average listing price for 2023-08-01 was $172,919, a difference of $3,205 (1.9%) versus the prior year and $-1,606 versus the prior month.

For the 2023-08-01 period, Sterling had 91 MLS listings, a difference of 5 listings (6%) versus the prior month and -36 listings (-28%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sterling (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,424 sqft
2018-02-01 0 days 1,443 sqft
2018-03-01 0 days 1,448 sqft
2018-04-01 0 days 1,486 sqft
2018-05-01 0 days 1,442 sqft
2018-06-01 0 days 1,443 sqft
2018-07-01 0 days 1,459 sqft
2018-08-01 0 days 1,438 sqft
2018-09-01 0 days 1,489 sqft
2018-10-01 0 days 1,501 sqft
2018-11-01 0 days 1,483 sqft
2018-12-01 0 days 1,484 sqft
2019-01-01 0 days 1,454 sqft
2019-02-01 0 days 1,400 sqft
2019-03-01 0 days 1,398 sqft
2019-04-01 0 days 1,393 sqft
2019-05-01 0 days 1,401 sqft
2019-06-01 0 days 1,419 sqft
2019-07-01 0 days 1,515 sqft
2019-08-01 0 days 1,485 sqft
2019-09-01 0 days 1,465 sqft
2019-10-01 0 days 1,454 sqft
2019-11-01 0 days 1,472 sqft
2019-12-01 0 days 1,466 sqft
2020-01-01 0 days 1,464 sqft
2020-02-01 0 days 1,450 sqft
2020-03-01 0 days 1,456 sqft
2020-04-01 0 days 1,455 sqft
2020-05-01 0 days 1,450 sqft
2020-06-01 0 days 1,519 sqft
2020-07-01 0 days 1,454 sqft
2020-08-01 0 days 1,466 sqft
2020-09-01 0 days 1,479 sqft
2020-10-01 0 days 1,464 sqft
2020-11-01 0 days 1,436 sqft
2020-12-01 0 days 1,400 sqft
2021-01-01 0 days 1,400 sqft
2021-02-01 0 days 1,405 sqft
2021-03-01 0 days 1,382 sqft
2021-04-01 0 days 1,367 sqft
2021-05-01 0 days 1,353 sqft
2021-06-01 0 days 1,386 sqft
2021-07-01 0 days 1,440 sqft
2021-08-01 0 days 1,500 sqft
2021-09-01 0 days 1,473 sqft
2021-10-01 0 days 1,469 sqft
2021-11-01 0 days 1,489 sqft
2021-12-01 0 days 1,479 sqft
2022-01-01 0 days 1,478 sqft
2022-02-01 0 days 1,468 sqft
2022-03-01 0 days 1,416 sqft
2022-04-01 0 days 1,486 sqft
2022-05-01 0 days 1,400 sqft
2022-06-01 0 days 1,434 sqft
2022-07-01 0 days 1,498 sqft
2022-08-01 0 days 1,495 sqft
2022-09-01 0 days 1,534 sqft
2022-10-01 0 days 1,502 sqft
2022-11-01 0 days 1,533 sqft
2022-12-01 0 days 1,532 sqft
2023-01-01 0 days 1,474 sqft
2023-02-01 0 days 1,459 sqft
2023-03-01 0 days 1,491 sqft
2023-04-01 0 days 1,505 sqft
2023-05-01 0 days 1,555 sqft
2023-06-01 0 days 1,468 sqft
2023-07-01 0 days 1,501 sqft
2023-08-01 0 days 1,564 sqft
Sterling's median listing age (time on market) for 2023-08-01 was 0 days.

Sterling's median square footage for active listings during the 2023-08-01 period was 1,564 sqft. One year prior, the average listing was 1,495 sqft.

Sterling, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 565 $74,085,000 $131,124
Refi 131 $11,785,000 $89,962
Cash Out Refi 106 $13,070,000 $123,302
Home Improvement 56 $3,150,000 $56,250
Other 46 $2,560,000 $55,652

Sterling's most frequently cited loan purpose was Home Purchase, with 565 originations. The 2nd most popular reason was Refi, with 131 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 215 $26,515,000 $123,326
4-5% 166 $20,230,000 $121,867
3-4% 144 $18,940,000 $131,528
6-7% 94 $10,520,000 $111,915
<2.5% 34 $1,500,000 $44,118
7-8% 33 $4,295,000 $130,152
2.5-3% 25 $3,075,000 $123,000
Over 8% 18 $630,000 $35,000

During 2022, Sterling's most frequently originated rate bucket was 5-6%, with 215 originations.

Loan Sizing (Sterling, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 447 $25,385,000 $56,790
$100k-200k 353 $48,785,000 $138,201
$200k-400k 93 $24,375,000 $262,097
$400k-600k 9 $4,015,000 $446,111
$600k-1000k 1 $965,000 $965,000
$Over $1MM 1 $1,125,000 $1,125,000

Sterling's loan sizing saw the bucket of loans from $100,000 or less with 447 originations, totaling $25,385,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 388 $53,740,000 $138,505
60-80% 143 $18,875,000 $131,993
Under 20% 67 $1,925,000 $28,731
20-40% 56 $3,190,000 $56,964
40-60% 51 $4,085,000 $80,098
Over 100% 11 $2,335,000 $212,273

Sterling's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 388 originations, totaling $53,740,000 in origination value.