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5/1 ARM Mortgage Rates in Illinois

Updated: October 20, 2019

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Displaying rates for Mortgage Refinance in IL for $200,000

4.716%

APR
5 Year ARM
3.375% Rate $884/mo
  • Updated October 20, 2019
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5.002%

APR
5 Year ARM
4.375% Rate $999/mo
  • Updated October 20, 2019
  • Compare up to 5 Offers, Against a Network of 1000s of Lenders
  • 3.75% APR
  • Fixed Rate 15yr
PRODUCTS RATES +/-
30 Year Fixed 3.70%
15 Year Fixed 3.43%
5/1 ARM 4.19%
Sunday, October 20, 2019

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Mortgage rates for Illinois go down to 3.70%

Sunday, October 20, 2019

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 3.70%. That dropped from 3.70% to 3.70%. The 15-year fixed rates are now at 3.43%. The 5/1 ARM mortgage for Illinois is now at 4.19%.

5/1 ARM Mortgage Rate Explained

5/1 ARM is an adjustable rate mortgage where the interest rate on the loan and hence the payment of the loan stays the same during the first 5 years. After that the rate will change based on its "margin" and "index" . Above you will find 5/1 ARM refinance rates for national and local lenders in Illinois. 

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