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5/1 ARM Mortgage Rates in Illinois

Updated: January 22, 2020

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

3.405%

APR
5 Year ARM
3.375% Rate $885/mo
  • Updated January 22, 2020
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4.716%

APR
5 Year ARM
3.375% Rate $884/mo
  • Updated January 22, 2020
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5.002%

APR
5 Year ARM
4.375% Rate $999/mo
  • Updated January 22, 2020
  • Compare up to 5 Offers, Against a Network of 1000s of Lenders
  • 3.411% APR
  • Fixed Rate 30yr
PRODUCTS RATES +/-
30 Year Fixed 3.58%
15 Year Fixed 3.35%
5/1 ARM 4.19%
Wednesday, January 22, 2020

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Mortgage rates for Illinois go down to 3.58%

Wednesday, January 22, 2020

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 3.58%. That dropped from 3.66% to 3.58%. The 15-year fixed rates are now at 3.35%. 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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