Chicago USDA Loan Rates, Closing Costs & Stats

Chicago-Naperville-Elgin, IL-IN-WI

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    • 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 32 lenders originated 59 USDA loans during 2023. The total origination value was $11,205,000, with an average USDA loan value of $189,915.

    Chicago USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Chicago averaged 6.48% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Chicago's average USDA mortgage closing costs are $5,192.

    The average rate for the prior week (2025-02-07) was 6.54% and one month ago for the week of 2025-01-10, the average rate was 6.68%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.82%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AMERICAN FINANCIAL NETWORK, INC. 13 7.08% $6,327
    Paramount Residential Mortgage Group, Inc. 5 6.30% $7,023
    CROSSCOUNTRY MORTGAGE, LLC 4 6.78% $8,554
    Flanagan State Bank 3 6.88% $9,519
    Grundy Bank 2 7.00% $5,601
    Community Mortgage Banc Corporation 2 7.31% $4,260
    LOANDEPOT.COM, LLC 2 7.63% $9,700
    UNITED WHOLESALE MORTGAGE, LLC 2 6.69% $8,493
    EVERETT FINANCIAL, INC. 1 7.63% $6,924
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $1,096
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $5,312
    First Federal Savings Bank 1 6.75% $9,473
    First National Bank of Omaha 1 6.13% $7,264
    Flagstar Bank, FSB 1 7.63% $8,446
    CARDINAL FINANCIAL 1 5.75% $8,152
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $5,557
    AXIA FINANCIAL, LLC 1 7.00% $12,190
    GVC MORTGAGE, INC. 1 6.88% $6,729
    Ixonia Bank 1 6.49% $5,636
    LEADERONE FINANCIAL CORPORATION 1 7.25% $8,458
    Wells Fargo Bank 1 5.75% $2,405
    MICHIGAN MUTUAL, INC. 1 7.13% $9,232
    NEWREZ LLC 1 5.75% $4,421
    NVR Mortgage Finance, Inc. 1 5.13% $12,994
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $8,796
    PLANET HOME LENDING, LLC 1 5.50% $6,096
    PLAZA HOME MORTGAGE, INC. 1 6.13% $10,169
    STOCKTON MORTGAGE CORPORATION 1 7.63% $6,467
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $14,084
    The Federal Savings Bank 1 6.25% $4,030
    COMPASS MORTGAGE, INC. 1 7.75% $6,849
    Carrington Mortgage Services, LLC 1 6.63% $8,058

    The top Chicago USDA lender as defined by loan originations is AMERICAN FINANCIAL NETWORK, INC., with 13 USDA loans originated. Their average total fees are $6,327, which is $696 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

    The lowest fee Chicago USDA lenders (with over 10 loans originated) are AMERICAN FINANCIAL NETWORK, INC. ($6,327), .

    The lowest rate Chicago USDA lenders (with over 10 loans originated) are AMERICAN FINANCIAL NETWORK, INC. (7.08%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chicago (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $288,700 (6.0%) $452,383 (4.3%) 1.06 27,019
    2018-02-01 $304,500 (6.1%) $471,391 (4.0%) 1.10 27,524
    2018-03-01 $325,000 (8.4%) $490,665 (4.9%) 1.14 29,305
    2018-04-01 $334,900 (7.3%) $494,784 (4.0%) 1.12 31,116
    2018-05-01 $335,000 (4.7%) $492,310 (3.1%) 1.12 33,181
    2018-06-01 $333,995 (4.4%) $484,353 (2.0%) 1.10 35,804
    2018-07-01 $327,000 (2.9%) $473,493 (0.9%) 1.09 37,861
    2018-08-01 $319,900 (4.0%) $462,089 (1.0%) 1.07 38,939
    2018-09-01 $317,000 (5.7%) $455,361 (0.7%) 1.06 39,631
    2018-10-01 $311,450 (3.8%) $450,517 (-0.8%) 1.05 39,337
    2018-11-01 $302,000 (1.7%) $447,125 (-0.8%) 1.02 37,019
    2018-12-01 $296,850 (2.4%) $439,278 (-1.2%) 1.02 32,322
    2019-01-01 $296,950 (2.9%) $442,525 (-2.2%) 1.02 29,475
    2019-02-01 $312,300 (2.6%) $464,293 (-1.5%) 1.05 29,818
    2019-03-01 $327,571 (0.8%) $478,426 (-2.5%) 1.06 31,821
    2019-04-01 $339,250 (1.3%) $486,079 (-1.8%) 1.07 33,866
    2019-05-01 $339,900 (1.5%) $482,549 (-2.0%) 1.06 36,232
    2019-06-01 $338,450 (1.3%) $477,556 (-1.4%) 1.05 38,296
    2019-07-01 $331,450 (1.4%) $470,195 (-0.7%) 1.03 39,704
    2019-08-01 $325,155 (1.6%) $461,247 (-0.2%) 1.03 40,118
    2019-09-01 $319,386 (0.8%) $454,617 (-0.2%) 1.02 40,033
    2019-10-01 $314,945 (1.1%) $449,911 (-0.1%) 1.01 39,754
    2019-11-01 $306,950 (1.6%) $444,237 (-0.7%) 1.00 36,265
    2019-12-01 $299,400 (0.9%) $440,601 (0.3%) 1.00 31,134
    2020-01-01 $299,450 (0.8%) $443,832 (0.3%) 1.00 28,367
    2020-02-01 $319,000 (2.2%) $466,426 (0.5%) 1.03 28,915
    2020-03-01 $326,550 (-0.3%) $475,570 (-0.6%) 1.02 29,490
    2020-04-01 $324,900 (-4.2%) $465,809 (-4.2%) 1.01 28,034
    2020-05-01 $329,900 (-2.9%) $477,805 (-1.0%) 1.00 28,100
    2020-06-01 $339,000 (0.2%) $489,639 (2.5%) 0.99 28,012
    2020-07-01 $344,000 (3.8%) $497,445 (5.8%) 0.99 27,048
    2020-08-01 $346,350 (6.5%) $502,586 (9.0%) 0.99 26,677
    2020-09-01 $347,000 (8.7%) $505,515 (11.2%) 0.98 26,852
    2020-10-01 $340,000 (8.0%) $500,832 (11.3%) 0.97 26,905
    2020-11-01 $334,500 (9.0%) $498,102 (12.1%) 0.97 24,409
    2020-12-01 $325,000 (8.6%) $495,332 (12.4%) 0.97 20,674
    2021-01-01 $325,000 (8.5%) $505,448 (13.9%) 0.97 17,802
    2021-02-01 $339,996 (6.6%) $544,070 (16.7%) 0.99 15,859
    2021-03-01 $349,900 (7.2%) $552,140 (16.1%) 0.99 15,575
    2021-04-01 $349,950 (7.7%) $552,512 (18.6%) 0.95 16,203
    2021-05-01 $350,000 (6.1%) $549,011 (14.9%) 0.93 17,076
    2021-06-01 $350,000 (3.2%) $537,537 (9.8%) 0.92 19,235
    2021-07-01 $349,900 (1.7%) $521,806 (4.9%) 0.92 21,317
    2021-08-01 $339,495 (-2.0%) $500,342 (-0.5%) 0.90 22,220
    2021-09-01 $330,000 (-4.9%) $491,049 (-2.9%) 0.88 22,144
    2021-10-01 $329,000 (-3.2%) $487,604 (-2.6%) 0.87 21,486
    2021-11-01 $322,400 (-3.6%) $485,721 (-2.5%) 0.86 18,712
    2021-12-01 $312,500 (-3.9%) $480,195 (-3.1%) 0.85 15,355
    2022-01-01 $314,500 (-3.2%) $492,440 (-2.6%) 0.84 12,564
    2022-02-01 $324,500 (-4.6%) $517,338 (-4.9%) 0.84 11,457
    2022-03-01 $332,500 (-5.0%) $526,309 (-4.7%) 0.83 11,868
    2022-04-01 $349,900 (0.0%) $534,868 (-3.2%) 0.83 12,067
    2022-05-01 $355,375 (1.5%) $538,395 (-1.9%) 0.81 14,480
    2022-06-01 $359,950 (2.8%) $532,521 (-0.9%) 0.80 16,656
    2022-07-01 $350,000 (0.0%) $515,494 (-1.2%) 0.79 19,291
    2022-08-01 $349,875 (3.1%) $509,289 (1.8%) 0.81 19,478
    2022-09-01 $340,000 (3.0%) $503,762 (2.6%) 0.79 19,384
    2022-10-01 $339,900 (3.3%) $499,744 (2.5%) 0.80 19,411
    2022-11-01 $329,950 (2.3%) $492,242 (1.3%) 0.79 18,653
    2022-12-01 $322,938 (3.3%) $482,288 (0.4%) 0.80 15,983
    2023-01-01 $327,450 (4.1%) $493,642 (0.2%) 0.81 14,035
    2023-02-01 $337,500 (4.0%) $519,123 (0.4%) 0.81 12,692
    2023-03-01 $352,450 (6.0%) $546,041 (3.8%) 0.83 12,065
    2023-04-01 $369,000 (5.5%) $569,789 (6.5%) 0.86 11,604
    2023-05-01 $377,150 (6.1%) $594,429 (10.4%) 0.85 11,885
    2023-06-01 $382,500 (6.3%) $592,009 (11.2%) 0.86 12,817
    2023-07-01 $389,000 (11.1%) $590,305 (14.5%) 0.88 13,667
    2023-08-01 $384,950 (10.0%) $581,283 (14.1%) 0.88 14,106
    2023-09-01 $377,000 (10.9%) $568,437 (12.8%) 0.87 14,689
    2023-10-01 $371,950 (9.4%) $562,710 (12.6%) 0.87 15,119
    2023-11-01 $360,000 (9.1%) $550,718 (11.9%) 0.86 14,971
    2023-12-01 $350,000 (8.4%) $536,637 (11.3%) 0.85 13,067
    2024-01-01 $351,190 (7.3%) $549,940 (11.4%) 0.86 11,461
    2024-02-01 $359,950 (6.7%) $575,673 (10.9%) 0.87 10,969
    2024-03-01 $374,990 (6.4%) $596,249 (9.2%) 0.88 11,106
    2024-04-01 $389,450 (5.5%) $609,529 (7.0%) 0.91 11,593
    2024-05-01 $394,950 (4.7%) $623,747 (4.9%) 0.90 12,295
    2024-06-01 $395,000 (3.3%) $603,861 (2.0%) 0.90 13,522
    2024-07-01 $394,500 (1.4%) $585,038 (-0.9%) 0.90 14,906
    2024-08-01 $385,000 (0.0%) $567,463 (-2.4%) 0.90 15,706
    2024-09-01 $379,900 (0.8%) $554,881 (-2.4%) 0.89 16,735
    2024-10-01 $371,500 (-0.1%) $542,967 (-3.5%) 0.87 17,050
    2024-11-01 $359,900 (0.0%) $530,896 (-3.6%) 0.86 16,518
    2024-12-01 $347,450 (-0.7%) $517,358 (-3.6%) 0.86 13,880
    2025-01-01 $343,498 (-2.2%) $519,117 (-5.6%) 0.00 12,423
    Chicago's median listing price for 2025-01-01 was $343,498, a difference of $-7,692 (-2.2%) versus the prior year and $-3,952 versus the prior month.

    Chicago's median listing price comes in at 0% of the national average.

    Chicago's average listing price for 2025-01-01 was $519,117, a difference of $-30,823 (-5.6%) versus the prior year and $1,759 versus the prior month.

    For the 2025-01-01 period, Chicago had 12,423 MLS listings, a difference of -1,457 listings (-10%) versus the prior month and 962 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chicago (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,898 sqft
    2018-02-01 54 days 1,955 sqft
    2018-03-01 43 days 2,000 sqft
    2018-04-01 40 days 2,022 sqft
    2018-05-01 40 days 2,027 sqft
    2018-06-01 42 days 2,021 sqft
    2018-07-01 44 days 2,000 sqft
    2018-08-01 47 days 1,986 sqft
    2018-09-01 49 days 1,971 sqft
    2018-10-01 51 days 1,938 sqft
    2018-11-01 56 days 1,904 sqft
    2018-12-01 67 days 1,870 sqft
    2019-01-01 73 days 1,866 sqft
    2019-02-01 55 days 1,908 sqft
    2019-03-01 43 days 1,966 sqft
    2019-04-01 39 days 2,000 sqft
    2019-05-01 40 days 2,000 sqft
    2019-06-01 43 days 2,000 sqft
    2019-07-01 45 days 2,000 sqft
    2019-08-01 48 days 1,972 sqft
    2019-09-01 51 days 1,941 sqft
    2019-10-01 54 days 1,918 sqft
    2019-11-01 61 days 1,900 sqft
    2019-12-01 74 days 1,870 sqft
    2020-01-01 76 days 1,863 sqft
    2020-02-01 45 days 1,918 sqft
    2020-03-01 43 days 1,959 sqft
    2020-04-01 51 days 1,929 sqft
    2020-05-01 59 days 1,950 sqft
    2020-06-01 45 days 1,939 sqft
    2020-07-01 41 days 1,906 sqft
    2020-08-01 40 days 1,872 sqft
    2020-09-01 40 days 1,807 sqft
    2020-10-01 43 days 1,792 sqft
    2020-11-01 50 days 1,731 sqft
    2020-12-01 58 days 1,700 sqft
    2021-01-01 64 days 1,682 sqft
    2021-02-01 45 days 1,680 sqft
    2021-03-01 40 days 1,676 sqft
    2021-04-01 33 days 1,693 sqft
    2021-05-01 33 days 1,702 sqft
    2021-06-01 32 days 1,728 sqft
    2021-07-01 33 days 1,728 sqft
    2021-08-01 36 days 1,703 sqft
    2021-09-01 38 days 1,690 sqft
    2021-10-01 40 days 1,669 sqft
    2021-11-01 45 days 1,641 sqft
    2021-12-01 53 days 1,602 sqft
    2022-01-01 59 days 1,600 sqft
    2022-02-01 39 days 1,600 sqft
    2022-03-01 34 days 1,620 sqft
    2022-04-01 30 days 1,653 sqft
    2022-05-01 29 days 1,700 sqft
    2022-06-01 30 days 1,718 sqft
    2022-07-01 32 days 1,728 sqft
    2022-08-01 36 days 1,717 sqft
    2022-09-01 40 days 1,703 sqft
    2022-10-01 40 days 1,705 sqft
    2022-11-01 44 days 1,702 sqft
    2022-12-01 54 days 1,694 sqft
    2023-01-01 60 days 1,700 sqft
    2023-02-01 44 days 1,702 sqft
    2023-03-01 40 days 1,743 sqft
    2023-04-01 38 days 1,782 sqft
    2023-05-01 34 days 1,800 sqft
    2023-06-01 34 days 1,800 sqft
    2023-07-01 36 days 1,813 sqft
    2023-08-01 36 days 1,802 sqft
    2023-09-01 37 days 1,800 sqft
    2023-10-01 37 days 1,794 sqft
    2023-11-01 41 days 1,779 sqft
    2023-12-01 50 days 1,759 sqft
    2024-01-01 56 days 1,759 sqft
    2024-02-01 40 days 1,765 sqft
    2024-03-01 33 days 1,800 sqft
    2024-04-01 34 days 1,800 sqft
    2024-05-01 25 days 1,840 sqft
    2024-06-01 26 days 1,825 sqft
    2024-07-01 33 days 1,824 sqft
    2024-08-01 36 days 1,800 sqft
    2024-09-01 36 days 1,794 sqft
    2024-10-01 37 days 1,772 sqft
    2024-11-01 43 days 1,750 sqft
    2024-12-01 51 days 1,713 sqft
    2025-01-01 0 days 1,698 sqft
    Chicago's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Chicago's median square footage for active listings during the 2025-01-01 period was 1,698 sqft. One year prior, the average listing was 1,759 sqft.