Mortgage Rates in Orland Park, Illinois — March 2026
Updated March 2026 | Based on Orland Park market data and regional lending conditions
Orland Park is a growing city in Illinois with a population of 58,720. The current 30-year fixed mortgage rate in Orland Park is 6.8%, which is 0.15% above the national average. With a median home price of $291,000 and a 20% down payment of $58,200, homebuyers can expect a monthly principal and interest payment of approximately $1,518.
Current Mortgage Rates in Orland Park, IL
Below are the current average mortgage rates available in the Orland Park 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 | 6.8% | 6.65% | +0.15% |
| 15-Year Fixed | 6.03% | 5.89% | +0.14% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.05% | 6.85% | +0.2% |
Orland Park Housing Market Overview
The Orland Park housing market offers relatively affordable housing compared to many major cities. The median household income in Orland Park is $57,500, and the cost of living index is 96.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $87,943 to comfortably afford the median-priced home in Orland Park, which exceeds the current median household income.
Monthly Payment Breakdown for Orland Park
Based on the median home price of $291,000 with 20% down ($58,200), here is what you can expect to pay monthly in Orland Park:
15-Year vs. 30-Year Mortgage in Orland Park
Choosing a 15-year mortgage in Orland Park at 6.03% instead of a 30-year at 6.8% would save you $192,240 in total interest over the life of the loan. However, your monthly payment would be $1,968 instead of $1,518 — an increase of $450 per month.
Calculate Your Orland Park Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Orland Park
What are the current mortgage rates in Orland Park, IL?
As of March 2026, the average 30-year fixed mortgage rate in Orland Park, Illinois is 6.8%, while the 15-year fixed rate is 6.03%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.15% above the national average of 6.65%.
How much is a monthly mortgage payment in Orland Park?
Based on the median home price of $291,000 with 20% down, the estimated monthly mortgage payment in Orland Park is $1,518 for principal and interest. Including property taxes of $534/month, the total monthly housing cost is approximately $2,052.
What income do I need to buy a home in Orland Park?
Using the 28% rule, you would need an annual income of approximately $87,943 to afford the median-priced home in Orland Park at $291,000. The median household income in Orland Park is $57,500. This means most households would need to either earn above the median or consider homes below $291,000.
Is Orland Park a good place to buy a home in 2026?
Orland Park offers a below-average cost of living with a cost of living index of 96.6 (national average = 100). The property tax rate in Illinois is 2.2%, which is above the national average. Orland Park has a population of 58,720 and offers a balanced 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 Orland Park, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.