Mortgage Rates in Illinois — June 2026
Compare mortgage rate benchmarks across 158 cities in Illinois. Amortio's estimated state average for a 30-year fixed loan is 6.72%, which is 0.24% above the Freddie Mac national benchmark of 6.48% from June 4, 2026. These figures are informational estimates, not lender quotes or APR offers.
What is the current Illinois mortgage-rate benchmark?
Amortio's Illinois state table shows an estimated 6.72% 30-year benchmark across 158 cities, versus Freddie Mac's 6.48% national 30-year PMMS benchmark from June 4, 2026. Use it to compare city payments, then request same-day lender Loan Estimates for APR, points, fees, lock period, and cash-to-close.
How to Read Illinois Mortgage Rates
Illinois is not one uniform mortgage market. The rate table below covers 158 cities, but the real payment difference comes from home price, income, property taxes, loan size, and whether a borrower fits conventional, FHA, VA, or jumbo pricing. Use this page to compare cities first, then use lender quotes for final APR and fee decisions.
- At the state-average payment of $1,199 per month and median income of $60,963, Illinois looks comparatively manageable against local median income.
- The observed city-level 30-year benchmark spread is 0.77 percentage points, from 6.13% to 6.9%. Even small rate differences matter more in expensive cities because they apply to larger loan balances.
- Property taxes are a bigger part of the payment conversation here, so compare principal-and-interest estimates with escrow included before choosing a lender.
- For buyers comparing down payment choices, pair this state page with the PMI calculator, affordability calculator, and closing cost estimator before assuming the lowest advertised rate creates the lowest total cost.
Payment-Efficient Illinois Cities
| City | P&I / Income | Monthly P&I | Median Income | 30-Year Rate |
|---|---|---|---|---|
| Fisher | 11.3% | $746 | $79,000 | 6.84% |
| Deer Creek | 13.1% | $688 | $63,000 | 6.76% |
| Danville | 13.5% | $338 | $30,000 | 6.78% |
| Decatur | 13.7% | $438 | $38,250 | 6.69% |
| Galesburg | 14.4% | $384 | $32,000 | 6.62% |
Highest-Priced Illinois Markets to Stress-Test
Illinois Mortgage Quote Comparison Worksheet
Use this checklist before choosing between lender quotes, state assistance, builder credits, or a temporary buydown. It is built to catch the costs that do not show up in a simple rate table.
| Line Item | What to Compare |
|---|---|
| Rate vs APR | APR exposes points, lender fees, and credits that can hide inside a lower advertised rate. |
| Cash to close | Compare down payment, closing costs, prepaid taxes, insurance escrow, and any assistance or seller credit. |
| Payment after escrow | Illinois buyers should compare principal, interest, property tax, insurance, HOA or condo dues, and mortgage insurance together. |
| Assistance terms | Down payment assistance can be a grant, forgivable second, deferred second, or repayable loan; the repayment rule changes the real cost. |
| Rate lock and buydown | Temporary buydowns and lender credits can improve the first-year payment while leaving a higher long-run payment. |
A strong Illinois mortgage comparison should include at least two lender Loan Estimates plus one program or assistance check where available. Pair this worksheet with the affordability calculator, PMI calculator, and closing cost estimator.
Illinois IHDA Access Home & Property Tax Notes
Illinois borrowers should compare the rate benchmark with IHDA program eligibility, property taxes, local transfer taxes, condo or HOA costs, and whether down payment assistance changes the best loan choice. This page is for planning and comparison, not a lender quote or APR offer.
- IHDA describes Access Home as first-time homebuyer assistance equal to 6% of the purchase price, up to $15,000, for down payment and closing costs.
- IHDA Mortgage says its programs use 30-year fixed-rate first mortgages, and Access Home assistance is structured as a deferred second mortgage.
- IHDA lists core requirements including primary-residence purchase, a 640+ credit score, income and purchase-price limits, borrower contribution, and DTI limits.
- Illinois property taxes can materially change the real payment, so compare principal-and-interest estimates with full escrow before choosing a lender.
Illinois Loan Limit & Assistance Checks
| Area | Conforming | FHA | Why It Matters |
|---|---|---|---|
| Illinois conventional loans | Use FHFA lookup | Use HUD lookup | Check county limits before deciding whether a loan is conforming, FHA, or jumbo. |
| IHDA Access Home | Program-specific | Program-specific | Assistance and eligibility depend on IHDA limits, lender approval, credit score, and property rules. |
| High-tax Illinois market | Loan limit plus escrow | HUD county lookup | Property taxes and HOA costs can affect approval even when principal and interest looks affordable. |
Official Illinois Mortgage Sources
Illinois Housing Highlights
All 158 Cities in Illinois
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| Chicago | 6.69% | $410,000 | $2,114 | 2,693,976 |
| Aurora | 6.74% | $260,000 | $1,348 | 180,542 |
| Joliet | 6.69% | $245,000 | $1,263 | 150,362 |
| Naperville | 6.69% | $465,000 | $2,398 | 149,540 |
| Rockford | 6.69% | $135,000 | $696 | 148,655 |
| Elgin | 6.73% | $281,000 | $1,455 | 114,797 |
| Springfield | 6.69% | $145,000 | $748 | 114,394 |
| Peoria | 6.69% | $115,000 | $593 | 113,150 |
| Waukegan | 6.62% | $257,000 | $1,316 | 88,826 |
| Champaign | 6.69% | $175,000 | $902 | 88,302 |
| Cicero | 6.75% | $245,000 | $1,271 | 83,891 |
| Schaumburg | 6.6% | $244,000 | $1,247 | 78,723 |
| Evanston | 6.6% | $279,000 | $1,425 | 78,110 |
| Arlington Heights | 6.69% | $289,000 | $1,490 | 77,676 |
| Bloomington | 6.69% | $195,000 | $1,006 | 77,104 |
| Bolingbrook | 6.68% | $277,000 | $1,427 | 74,039 |
| Decatur | 6.69% | $85,000 | $438 | 70,522 |
| Palatine | 6.8% | $264,000 | $1,377 | 69,144 |
| Skokie | 6.64% | $287,000 | $1,472 | 64,784 |
| Des Plaines | 6.66% | $246,000 | $1,265 | 59,773 |
| Orland Park | 6.8% | $291,000 | $1,518 | 58,720 |
| Tinley Park | 6.61% | $247,000 | $1,263 | 56,703 |
| Berwyn | 6.8% | $277,000 | $1,445 | 56,657 |
| Mount Prospect | 6.74% | $256,000 | $1,327 | 56,265 |
| Oak Lawn | 6.73% | $277,000 | $1,434 | 55,245 |
| Normal | 6.65% | $290,000 | $1,489 | 54,264 |
| Wheaton | 6.68% | $267,000 | $1,375 | 53,469 |
| Hoffman Estates | 6.83% | $287,000 | $1,501 | 52,398 |
| Oak Park | 6.66% | $261,000 | $1,342 | 52,233 |
| Downers Grove | 6.77% | $258,000 | $1,341 | 49,670 |
| Villa Park | 6.86% | $210,000 | $1,102 | 49,468 |
| New Athens | 6.61% | $235,000 | $1,202 | 48,662 |
| Glenview | 6.67% | $227,000 | $1,168 | 47,580 |
| Elmhurst | 6.82% | $217,000 | $1,134 | 46,756 |
| Plainfield | 6.65% | $217,000 | $1,114 | 44,762 |
| Belleville | 6.82% | $216,000 | $1,129 | 44,478 |
| Lombard | 6.7% | $271,000 | $1,399 | 44,050 |
| DeKalb | 6.77% | $224,000 | $1,165 | 42,849 |
| Metropolis | 6.86% | $285,000 | $1,496 | 42,290 |
| Moline | 6.79% | $260,000 | $1,355 | 41,836 |
| 118 more Illinois city mortgage-rate pages are available as individual pages and in the XML sitemap. | ||||
Illinois Mortgage Rates Guide — 2026
Illinois homebuyers can use an estimated 30-year fixed benchmark of 6.72%, with median home prices around $231,639. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $1,199.
The most affordable city for homebuyers in Illinois is Danville, where the median home price is $65,000. On the other end, Naperville has the highest prices at $465,000. Property tax rates across the state average 2.08%.
To comfortably afford a home at the state average price, a household income of approximately $51,386 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
For Illinois mortgage-rate searches, compare Chicago-area cities, collar counties, college towns, and downstate markets separately. A low purchase price can still produce a higher monthly cost if property taxes, insurance, or HOA fees are heavy.
IHDA Access Home can reduce cash-to-close, but borrowers should compare the assistance amount with APR, points, lender fees, repayment on sale or refinance, mortgage insurance, and how long they expect to keep the home.
Use our free loan calculator to see your estimated monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Methodology & Mortgage Rate Data Sources
How we calculate Illinois mortgage rates: Our rate estimates start with weekly mortgage-rate benchmarks and then compare city-level housing assumptions. They are designed for planning and comparison, not as a guarantee of lender pricing.
- Benchmark mortgage rates from Freddie Mac Primary Mortgage Market Survey (PMMS) — the most-cited weekly survey of 30-year and 15-year fixed conforming rates.
- Federal Reserve rate policy tracked via FRED — Federal Reserve Economic Data — the St. Louis Fed's authoritative database of interest rate series.
- Conforming loan limits set annually by the FHFA Conforming Loan Limit announcements (Illinois 2026: $832,750 baseline, with higher one-unit limits in high-cost counties).
- State lending regulation context from HUD State Information pages covering FHA, down payment assistance, and housing finance agency programs in Illinois.
- Mortgage market trends tracked via Mortgage Bankers Association (MBA) Weekly Applications Survey — the industry benchmark for mortgage demand and rate sensitivity.
Authoritative mortgage rate data sources:
- Freddie Mac PMMS — weekly 30yr and 15yr fixed rate benchmark
- FRED — Federal Reserve Economic Data — interest rate and housing series
- FHFA — Federal Housing Finance Agency — conforming loan limits and HPI
- HUD — Housing and Urban Development — FHA programs and state assistance
- IHDA Mortgage Homebuyer Center — Access Home details, lender list, education, and program directory
- CFPB Mortgage Rate Checker — personalized rate comparison tool
- VA Home Loan Program — zero down payment loan for eligible veterans
Rate Disclaimer: Rates shown are estimates based on current market surveys and may not reflect actual lender quotes. Your rate depends on credit score, loan-to-value ratio, down payment, property type, and lender. Always obtain personalized rate quotes from multiple lenders. Rates change daily.
Reviewed by Brazora Monk · Last updated May 2026 · Freddie Mac PMMS data current as of June 4, 2026
Frequently Asked Questions — Illinois Mortgages
What are current mortgage rates in Illinois?
As of June 4, 2026, Freddie Mac's national benchmark was 6.48% for the 30-year fixed and 5.79% for the 15-year fixed. Amortio's Illinois city comparison shows an estimated 30-year benchmark average of 6.72% and 15-year average of 5.96%. Rates vary by city, lender, lock date, fees, and borrower qualification.
What is the average home price in Illinois?
The median home price across 158 cities in Illinois is $231,639. Prices range from $65,000 in Danville to $465,000 in Naperville.
How much income do I need to buy a house in Illinois?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $51,386 to comfortably afford the average home in Illinois. The median household income in the state is approximately $60,963.
What is IHDA Access Home?
IHDA Access Home is an Illinois Housing Development Authority down payment assistance program for eligible first-time homebuyers. IHDA Mortgage describes assistance as 6% of the purchase price, up to $15,000, paired with a 30-year fixed-rate first mortgage.
Why should Illinois buyers stress-test property taxes?
Illinois property taxes can be a major part of the monthly payment. Two homes with similar prices and rates can have different total payments after taxes, insurance, HOA dues, transfer taxes, and lender fees are included.
Illinois Mortgage Rates by ZIP Code
Explore mortgage rates for specific ZIP codes in Illinois. Rates can vary by neighborhood based on local property values and lending conditions.
Browse Mortgage Rates by State
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