Illinois Mortgage Rates (2026)
Current average mortgage rates, median home prices, and top lenders in Illinois. Rates apply to primary residence purchases with good credit (740+).
30yr Fixed
7.05%
Avg APR
15yr Fixed
6.45%
Avg APR
Median Price
$285,000
Median home
Monthly P&I
$1,520
30yr at 80% LTV
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Top Mortgage Lenders in Illinois
1
Get RateRocket Mortgage
Online convenience
30yr Fixed
7%
15yr Fixed
6.4%
Min Down
3%
2
Get RateChase
Existing customers
30yr Fixed
6.9%
15yr Fixed
6.3%
Min Down
3%
3
Get RateWells Fargo
Branch access
30yr Fixed
7.1%
15yr Fixed
6.5%
Min Down
3%
4
Get RateBank of America
Preferred Rewards
30yr Fixed
7%
15yr Fixed
6.4%
Min Down
3%
5
Get RateloanDepot
Low down payment
30yr Fixed
6.9%
15yr Fixed
6.3%
Min Down
3%
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First-Time Buyer Programs in Illinois
- ✓IHDA Access Forgivable
- ✓IHDA SmartBuy
- ✓1stHomeIllinois
Mortgage Requirements in Illinois
- •Min 640 credit score for IHDA programs
- •DTI under 50%
- •Homebuyer education required for all IHDA products
Illinois Housing Market Facts
Chicago metro dominates IL real estate — 65% of transactions.
Illinois has the 2nd highest property tax rate nationally (2.27%).
IHDA Access Forgivable provides $6,000 as a 10-year forgivable loan.
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