Who has low mortgage rates in Illinois?
A good rate for a primary, single-family home in for , and credit score
Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson Chief Data ScientistLenders with low rates in IL
It’s hard to find a lender in the good rate range—we’ve analyzed 442 lenders and found some likely to get you a good deal.
| Lender | Lender fees | Customer synopsis | |
|---|---|---|---|
Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson Chief Data ScientistLenders in IL likely to have high rates
We dont accept advertising, so TrueRate can give the real lender story. We looked at 442 lenders and these lenders are likely to offer you a high rate.
| Lender | Lender fees | Summary | |
|---|---|---|---|
Insights
Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.
George Robinson Chief Data ScientistMethodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Illinois is stepping into a promising phase for homebuyers
Your ideal home may be more affordable than you think, especially with the diverse range of options available across the state.
Chicago, as the state’s largest city, offers a vibrant urban lifestyle with its iconic skyline, cultural institutions, and thriving neighborhoods. While the city can be competitive, it still has pockets where you can find decent deals. With improving interest rates, now is a great time to explore areas like Logan Square or Pilsen, where you can get more bang for your buck while enjoying the city’s dynamic atmosphere.
However, Illinois isn’t just about the Windy City. If you prefer a quieter lifestyle, places like Naperville, Evanston, and even smaller towns like Peoria and Champaign offer charming communities with affordable housing options. You’ll find that the further you move away from Chicago, the more your dollar stretches—think larger homes, spacious yards, and that quintessential Midwestern charm without the urban hustle and bustle.
First-time homebuyers will also find support through various programs in Illinois aimed at making the transition to homeownership smoother. These resources can assist with down payments and provide guidance on navigating the buying process.
With a mix of urban excitement and peaceful suburban living, Illinois caters to a variety of lifestyles. With interest rates becoming more favorable, it’s an ideal time to consider making a move and exploring the unique opportunities this state has to offer. Whether you’re drawn to the city’s buzz or the tranquility of smaller towns, now’s the time to dive into the Illinois housing market!