Compare Mortgage Rates

  • Refinance
  • Home Purchase
  • Home Equity
  • Debt Consolidation

Powered by SecureRights™
Include 1st & 2nd mortgages plus any equity loans or credit lines
Verisign
Powered by SecureRights™
Verisign
Powered by SecureRights™
Verisign
Powered by SecureRights™
Verisign

Illinois Mortgages at a glance

Average 25th Percentile 50th Percentile 75th Percentile
Loan Amount $188,225 $107,500 $162,500 $215,000
Property Values $267,512 $142,500 $205,000 $305,000
Average LTV 77.6%
Percent Refinance 77.7%
Pct of Refis Cashout 9.7%

Illinois Mortgage Rates

Perhaps you've chosen Illinois as your home state because of its rich culture and history. Or maybe you've always been a Windy City native. Whatever the reason, when you're on a mission to secure home financing, you're looking for the best deal possible.

Finding the best mortgage or mortgage refinance in Illinois can be challenging. Although you might search high and low for mortgage information, you'll find everything you need at Mortgageloan.com, including: informative articles, mortgage loan rates, mortgage calculators, and contact information for Illinois brokers. Here are some general pointers to get you started:

  • It's essential to understand the amortization of your prospective mortgage loan. Amortization refers to how the debt balance is reduced over time.
  • A mortgage can have a low monthly payment if the interest rate is low, or if the payment isn't reducing the loan balance.
  • The annual percentage rate (APR) helps you compare mortgages that have different closing costs.

Everbank

4.166%APR

Rates as of: 4/24/2014 30 Yr. Fixed
  • National Direct Lender without broker costs.
  • Dedicated Mortgage Specialists. Exceptional Service
  • Higher Balance Call for Rates !
Show Phone number

Call Now: 866.765.0740

Rate APR Term Point Payment
  • 4.125%
  • 4.166%
  • 30 Yr. Fixed
  • 0.000%
  • $994

Quicken Loans

4.473%APR

Rates as of: 4/24/2014 30 Yr. Fixed
  • We close our loans FAST - many in 30 days or less!
  • Rates are still historically low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Show Phone number

Call Now: 800-695-1899

Rate APR Term Point Payment
  • 4.125%
  • 4.250%
  • 4.375%
  • 4.500%
  • 4.625%
  • 4.625%
  • 4.473%
  • 4.514%
  • 4.520%
  • 4.646%
  • 4.696%
  • 4.696%
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 2.000%
  • 2.000%
  • 0.875%
  • 0.875%
  • 0.000%
  • 0.000%
  • $994
  • $1,008
  • $1,024
  • $1,039
  • $1,054
  • $1,054

Capital One

4.327%APR

Rates as of: 4/24/2014 30 Yr. Fixed
  • Saving just makes sense. Get $1000 Off Closing Costs.
  • Get a customized quote in minutes.
  • Free 60-day rate lock and no application fee
Show Phone number

Call Now: 855-238-8771

Rate APR Term Point Payment
  • 4.125%
  • 4.250%
  • 4.500%
  • 4.327%
  • 4.367%
  • 4.533%
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 2.000%
  • 1.000%
  • 0.000%
  • $994
  • $1,008
  • $1,039

Discover

4.336%APR

Rates as of: 4/24/2014 30 Yr. Fixed
  • Competitive rates and no hidden fees
  • One dedicated mortgage banker from first call to closing
  • Simple, straightforward process
Show Phone number

Call Now: 855-882-9568

Rate APR Term Point Payment
  • 4.125%
  • 4.250%
  • 4.375%
  • 4.500%
  • 4.625%
  • 4.336%
  • 4.376%
  • 4.448%
  • 4.520%
  • 4.602%
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 30 Yr. Fixed
  • 1.750%
  • 0.750%
  • 0.125%
  • -0.500%
  • -1.000%
  • $994
  • $1,008
  • $1,024
  • $1,039
  • $1,054
See more rates

The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes. More Info.. These quotes are from banks, thrifts and brokers who have paid for a link to their website in the listings above and you can find additional information about their loan programs on their websites.

Illinois Rate Map

What are mortgage rates like in your area? Our Illinois Rate Map provides rate information on individual mortgage loans obtained by borrowers just like you all across the state! Each colored marker represents a single loan – click on one to get information on the mortgage rate, loan amount, loan-to-value ratio and more.

To further refine your search, you can use the list of options at left to sort results by credit score and location.

This rate map project is part of our effort to make the mortgage process more transparent for all borrowers. If you found it useful in negotiating a mortgage and would like to anonymously add your own loan information, just click on “Share Your Rate” above the map. Your fellow borrowers will thank you!

NOTE: MortgageLoan.com cannot guarantee the accuracy of the data provided as it is submitted by our visitors.

Home Equity Loans

Existing homeowners who need to raise cash for a one-time expense might look into home equity loans and refinance mortgages. Home equity loans are fixed-rate second mortgages. In Illinois, home equity loan rates will be higher than mortgage refinance rates. If you have a low-rate first mortgage, however, a home equity loan still might be a better choice than a mortgage refinance.

Adjustable-Rate Mortgages

Adjustable-rate mortgages (ARMs) in Illinois are characterized by a low, fixed interest rate that later resets to a variable rate. The rate is tied to a benchmark financial index and moves up or down with macro-economic trends. ARMs might be best for self-employed borrowers whose income fluctuates with the economy, or borrowers who need a low payment in the first one, three, or five years of the loan.

Comparing Mortgages

You can find qualified Illinois brokers in our broker directory. Be willing to consult with several so that you have a few different offers to compare. Prepare for these consultations by considering the following:

  • How much loan you can afford. This is more complicated than it sounds, because how much you can afford depends on what type of mortgage or refinance you're considering. If you aren't sure, visit our mortgage calculators to test different mortgage rates, amounts, and loan types.
  • How long you plan to own the home. This could determine whether an ARM is more appropriate than a fixed-rate mortgage (FRM), or vice versa.
  • Any potential changes to your income level.

You'll also benefit by knowing how market rates differ for the various loan types. For example:

  • ARMs usually start with a lower rate than FRMs.
  • Second mortgages have higher rates than refinances.
  • Mortgages with shorter amortization periods have lower rates than the same loans with longer amortization periods.

You don't have to be a mortgage expert-a good lender should walk you through your options. But knowing more makes you better equipped to make the right decisions.

Additional Local Rates Pages

See Chicago Mortgage Rates.