Mortgage Rates in Matteson, Illinois — March 2026
Updated March 2026 | Based on Matteson market data and regional lending conditions
Matteson is a growing city in Illinois with a population of 19,009. The current 30-year fixed mortgage rate in Matteson is 6.74%, which is 0.09% above the national average. With a median home price of $216,000 and a 20% down payment of $43,200, homebuyers can expect a monthly principal and interest payment of approximately $1,120.
Current Mortgage Rates in Matteson, IL
Below are the current average mortgage rates available in the Matteson 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 | 6.74% | 6.65% | +0.09% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.99% | 6.85% | +0.14% |
Matteson Housing Market Overview
The Matteson housing market offers relatively affordable housing compared to many major cities. The median household income in Matteson is $57,500, and the cost of living index is 88.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $64,371 to comfortably afford the median-priced home in Matteson, which exceeds the current median household income.
Monthly Payment Breakdown for Matteson
Based on the median home price of $216,000 with 20% down ($43,200), here is what you can expect to pay monthly in Matteson:
15-Year vs. 30-Year Mortgage in Matteson
Choosing a 15-year mortgage in Matteson at 5.98% instead of a 30-year at 6.74% would save you $141,120 in total interest over the life of the loan. However, your monthly payment would be $1,456 instead of $1,120 — an increase of $336 per month.
Calculate Your Matteson Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Matteson
What are the current mortgage rates in Matteson, IL?
As of March 2026, the average 30-year fixed mortgage rate in Matteson, Illinois is 6.74%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.09% above the national average of 6.65%.
How much is a monthly mortgage payment in Matteson?
Based on the median home price of $216,000 with 20% down, the estimated monthly mortgage payment in Matteson is $1,120 for principal and interest. Including property taxes of $382/month, the total monthly housing cost is approximately $1,502.
What income do I need to buy a home in Matteson?
Using the 28% rule, you would need an annual income of approximately $64,371 to afford the median-priced home in Matteson at $216,000. The median household income in Matteson is $57,500. This means most households would need to either earn above the median or consider homes below $216,000.
Is Matteson a good place to buy a home in 2026?
Matteson offers a below-average cost of living with a cost of living index of 88.9 (national average = 100). The property tax rate in Illinois is 2.12%, which is above the national average. Matteson has a population of 19,009 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Matteson, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.