Chicago USDA Loan Rates, Closing Costs & Stats

Chicago-Naperville-Elgin, IL-IN-WI

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Chicago's 28 lenders originated 61 USDA loans during 2024. The total origination value was $13,445,000, with an average USDA loan value of $220,410.

Chicago USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Chicago averaged 0.29% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Chicago's average USDA mortgage closing costs are $5,310.

The average rate for the prior week (2025-06-13) was 6.89% and one month ago for the week of 2025-05-16, the average rate was 6.65%.

The average rate one year ago was 6.88%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.06%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Chicago USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Chicago level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
AMERICAN FINANCIAL NETWORK, INC. 16 6.85% $6,832
LOANDEPOT.COM, LLC 4 6.75% $8,215
GUILD MORTGAGE COMPANY 3 6.33% $7,542
COMPASS MORTGAGE, INC. 3 6.92% $7,203
MICHIGAN MUTUAL, INC. 3 6.54% $10,014
U.S. Bank 2 6.19% $7,510
CANOPY MORTGAGE, LLC 2 6.63% $6,439
GUARANTEED RATE, INC. 2 6.41% $9,072
GVC MORTGAGE, INC. 2 7.25% $8,008
NVR Mortgage Finance, Inc. 2 5.38% $7,144
Paramount Residential Mortgage Group, Inc. 2 6.63% $5,333
RUOFF MORTGAGE COMPANY, INC. 2 6.94% $3,325
STOCKTON MORTGAGE CORPORATION 2 7.13% $6,726
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $8,944
CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $8,247
Ixonia Bank 1 7.13% $8,716
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.88% $5,626
DHI MORTGAGE COMPANY, LTD. 1 5.38% $5,662
NEWREZ LLC 1 6.75% $10,474
The Huntington National Bank 1 6.13% $6,605
TOWNE MORTGAGE COMPANY 1 6.25% $5,489
UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $16,589
FAIR WAY LENDING LLC 1 6.63% $6,421
FIRST COMMUNITY MORTGAGE, INC. 1 6.99% $10,027
Flagstar Bank, FSB 1 6.51% $6,397
Flanagan State Bank 1 6.88% $6,246
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $7,330
Servion, Inc. 1 7.13% $8,063

The top Chicago USDA lender as defined by loan originations is AMERICAN FINANCIAL NETWORK, INC., with 16 USDA loans originated. Their average total fees are $6,832, which is $1,383 lower than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Chicago USDA lenders (with over 10 loans originated) are AMERICAN FINANCIAL NETWORK, INC. ($6,832), .

The lowest rate Chicago USDA lenders (with over 10 loans originated) are AMERICAN FINANCIAL NETWORK, INC. (6.85%), .