Mortgage Rates in Bloomington, Illinois — March 2026
Updated March 2026 | Based on Bloomington market data and regional lending conditions
Bloomington is a growing city in Illinois with a population of 77,104. The current 30-year fixed mortgage rate in Bloomington is 6.69%, which is 0.04% above the national average. With a median home price of $195,000 and a 20% down payment of $39,000, homebuyers can expect a monthly principal and interest payment of approximately $1,006.
Current Mortgage Rates in Bloomington, IL
Below are the current average mortgage rates available in the Bloomington area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.69% | 6.65% | +0.04% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.29% | 6.25% | +0.04% |
| VA | 6.09% | 6.05% | +0.04% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Bloomington Housing Market Overview
The Bloomington housing market offers relatively affordable housing compared to many major cities. The median household income in Bloomington is $62,250, and the cost of living index is 89.5 (national average = 100). Based on the 28% affordability rule, the median income in Bloomington is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Bloomington
Based on the median home price of $195,000 with 20% down ($39,000), here is what you can expect to pay monthly in Bloomington:
15-Year vs. 30-Year Mortgage in Bloomington
Choosing a 15-year mortgage in Bloomington at 5.93% instead of a 30-year at 6.69% would save you $126,180 in total interest over the life of the loan. However, your monthly payment would be $1,311 instead of $1,006 — an increase of $305 per month.
Calculate Your Bloomington Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Bloomington
What are the current mortgage rates in Bloomington, IL?
As of March 2026, the average 30-year fixed mortgage rate in Bloomington, Illinois is 6.69%, while the 15-year fixed rate is 5.93%. FHA loans average 6.29% and VA loans 6.09%. These rates are 0.04% above the national average of 6.65%.
How much is a monthly mortgage payment in Bloomington?
Based on the median home price of $195,000 with 20% down, the estimated monthly mortgage payment in Bloomington is $1,006 for principal and interest. Including property taxes of $336/month, the total monthly housing cost is approximately $1,342.
What income do I need to buy a home in Bloomington?
Using the 28% rule, you would need an annual income of approximately $57,514 to afford the median-priced home in Bloomington at $195,000. The median household income in Bloomington is $62,250. The median income is currently sufficient to meet this threshold.
Is Bloomington a good place to buy a home in 2026?
Bloomington offers a below-average cost of living with a cost of living index of 89.5 (national average = 100). The property tax rate in Illinois is 2.07%, which is above the national average. Bloomington has a population of 77,104 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Bloomington, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.