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FHA Mortgage Rates in Illinois

Updated: April 08, 2020

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

PRODUCTS RATES +/-
30 Year Fixed 3.25%
15 Year Fixed 2.83%
5/1 ARM 4.17%
Wednesday, April 08, 2020

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Mortgage rates for Illinois go down to 3.25%

Wednesday, April 8, 2020

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 3.25%. That dropped from 3.38% to 3.25%. The 15-year fixed rates are now at 2.83%. The 5/1 ARM mortgage for Illinois is now at 4.17%.

FHA Mortgage Rates & Loan Limits in Illinois

An FHA mortgage loan is a home loan insured by the Federal Housing Administration, acquired through FHA-approved lenders. When buying a home in Illinois, FHA loans can provide you with the funds you need with minimal qualification.

Originally created to make home loans more accessible, FHA mortgages have low credit requirements, low down payment options, and some of the best mortgage rates available. Loan limits for FHA mortgages are determined by local housing prices and differ by county in Illinois. When deciding on a mortgage, remember to practice patience and persistence. Always set aside time to compare rates and lenders, rather than accepting the first offer presented. For more information, check out our main page on FHA mortgage rates.

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