Chicago VA Loan Rates, Closing Costs & Stats

Chicago-Naperville-Elgin, IL-IN-WI

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Chicago's 199 lenders originated 5,749 VA loans during 2024. The total origination value was $2,034,255,000, with an average VA loan value of $353,845.

    Chicago VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chicago averaged 0.44% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Chicago's average VA mortgage closing costs are $6,359.

    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 6.85%.

    The average rate one year ago was 7.15%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.11%.

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

    Chicago VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 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
    Mortgage Research Center, LLC 1,144 6.36% $6,715
    UNITED WHOLESALE MORTGAGE, LLC 495 5.88% $7,837
    QUICKEN LOANS, LLC 286 6.15% $10,790
    GUARANTEED RATE, INC. 261 6.20% $6,161
    FREEDOM MORTGAGE CORPORATION 249 6.21% $10,071
    NAVY FEDERAL CREDIT UNION 218 5.90% $6,481
    CROSSCOUNTRY MORTGAGE, LLC 186 6.42% $8,334
    PENNYMAC LOAN SERVICES, LLC 165 5.75% $8,347
    LOANDEPOT.COM, LLC 148 6.29% $10,374
    USAA Federal Savings Bank 123 6.16% $8,781
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 103 6.60% $8,024
    NEWREZ LLC 100 6.18% $7,481
    VILLAGE CAPITAL MORTGAGE 86 5.73% $7,733
    AMERICAN PACIFIC MORTGAGE CORPORATION 84 6.61% $9,360
    The Federal Savings Bank 76 6.49% $13,309
    Barrington Bank & Trust Company, N.A. 74 6.43% $6,214
    DHI MORTGAGE COMPANY, LTD. 61 5.49% $7,260
    EAGLE HOME MORTGAGE, LLC 60 5.19% $6,442
    PLANET HOME LENDING, LLC 58 5.98% $4,983
    Mr. Cooper ( Nationstar Mortgage ) 57 6.34% $9,002
    GUILD MORTGAGE COMPANY 54 6.66% $9,612
    JPMorgan Chase Bank 54 6.11% $4,937
    MUTUAL OF OMAHA MORTGAGE, INC. 42 6.44% $11,845
    NEW DAY FINANCIAL, LLC 42 7.48% $12,722
    Carrington Mortgage Services, LLC 40 5.99% $9,099
    COMPASS MORTGAGE, INC. 36 6.43% $11,116
    Key Mortgage Services, Inc. 35 6.49% $9,515
    BROKER SOLUTIONS, INC. 33 6.67% $10,729
    LAKEVIEW LOAN SERVICING, LLC 33 5.77% $6,479
    PROPER RATE, LLC 29 6.26% $9,529
    U.S. Bank 26 6.44% $8,654
    MORTGAGE SOLUTIONS OF COLORADO, LLC 26 7.37% $3,273
    TOWNE MORTGAGE COMPANY 26 6.50% $11,021
    NVR Mortgage Finance, Inc. 25 5.92% $6,985
    GUARANTEED RATE AFFINITY, LLC 25 6.49% $6,591
    UNION HOME MORTGAGE CORP. 24 6.42% $8,060
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 24 6.77% $9,457
    BAY EQUITY LLC 24 6.49% $9,574
    HOMESIDE FINANCIAL, LLC 24 6.88% $12,478
    The Huntington National Bank 23 6.42% $7,678
    NBKC BANK 23 5.86% $6,907
    University Bank 21 5.81% $6,637
    AMERICAN FINANCIAL NETWORK, INC. 20 6.71% $6,428
    Ixonia Bank 20 6.66% $6,661
    MOVEMENT MORTGAGE, LLC 20 6.62% $10,796
    Flagstar Bank, FSB 19 6.48% $10,393
    First Federal Bank 19 5.71% $8,241
    Prosperity Home Mortgage, LLC 18 6.01% $10,112
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 18 6.30% $7,574
    LEADERONE FINANCIAL CORPORATION 17 6.50% $10,675
    CLEARPATH LENDING 16 5.69% $6,040
    PENTAGON FEDERAL CREDIT UNION 16 5.94% $6,772
    CMG MORTGAGE, INC. 15 6.17% $10,192
    Magnolia Bank 14 5.98% $16,899
    Paramount Residential Mortgage Group, Inc. 14 6.44% $8,966
    CIBM Bank 14 6.46% $3,759
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 13 6.64% $8,410
    Lakeview Community Capital, LLC 13 5.79% $6,031
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 6.33% $7,330
    DIRECT MORTGAGE LOANS, LLC 13 6.39% $13,459
    Equity Prime Mortgage LLC 13 6.72% $9,933
    PULTE MORTGAGE LLC 12 6.22% $6,232
    M/I FINANCIAL, LLC 12 5.88% $11,645
    Nations Lending Corporation 11 6.11% $12,296
    SUN WEST MORTGAGE COMPANY, INC. 11 6.47% $8,753
    MICHIGAN MUTUAL, INC. 11 6.68% $7,022
    PRIMELENDING, A PLAINSCAPITAL COMPANY 10 6.44% $9,267
    MLD MORTGAGE INC. 10 6.28% $10,578
    PLAZA HOME MORTGAGE, INC. 10 6.16% $8,893
    AMERISAVE MORTGAGE CORPORATION 9 5.86% $25,007
    Pacor Mortgage Corp 9 6.17% $5,222
    GREENSTATE CREDIT UNION 9 6.18% $7,063
    Bank Five Nine 9 6.19% $5,757
    CARDINAL FINANCIAL 9 6.39% $12,181
    GATEWAY MORTGAGE CORPORATION 9 6.75% $5,758
    POINT Mortgage 8 6.81% $9,625
    Credence Funding Corporation 8 5.67% $7,551
    The Loan Store, Inc. 8 6.64% $7,116
    AmRes Corporation 7 6.63% $11,636
    Ameris Bank 7 6.27% $6,497
    Century Mortgage Company DBA Century Lending Company 7 6.54% $5,484
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.68% $4,458
    SUCCESS MORTGAGE PARTNERS, INC. 6 6.63% $13,374
    NORWICH COMMERCIAL GROUP, INC. 6 6.21% $9,265
    Fifth Third Bank 6 6.33% $6,749
    Armed Forces Bank 6 6.15% $10,085
    FIRST COMMUNITY MORTGAGE, INC. 6 6.54% $10,805
    Cornerstone First Mortgage, Inc 6 6.46% $10,015
    Old National Bank 6 5.79% $4,141
    PNC Bank 5 6.88% $2,996
    OCMBC, INC. 5 6.80% $10,156
    NATIONS RELIABLE LENDING, LLC 5 6.33% $12,415
    ZILLOW HOME LOANS, LLC 5 6.60% $8,705
    T2 FINANCIAL LLC 5 6.45% $8,539
    CALCON MUTUAL MORTGAGE LLC 5 6.50% $5,377
    Wells Fargo Bank 5 6.18% $14,123
    UNITED HOME LOANS, INC. 5 5.98% $6,487
    ROYAL UNITED MORTGAGE LLC 5 6.33% $14,210
    FIRST STATE MORTGAGE SERVICES, LLC 4 6.13% $7,145
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.59% $15,897
    RUOFF MORTGAGE COMPANY, INC. 4 6.22% $6,431
    DAS Acquisition Company, LLC 4 6.34% $7,231
    Servion, Inc. 4 6.56% $7,218
    Mid-Continent Funding, Inc. 4 6.19% $10,714
    MORTGAGEONE, INC. 4 6.84% $8,039
    AmeriHome Mortgage Company, LLC 4 6.34% $4,150
    American Mortgage & Equity Consultants, Inc. 4 6.69% $24,352
    LOANPAL, LLC 3 5.62% $12,204
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 6.71% $4,405
    North American Savings Bank, F.S.B. 3 5.63% $20,836
    NATIONS DIRECT MORTGAGE, LLC 3 7.08% $6,059
    Waterstone Mortgage Corporation 3 7.21% $6,110
    CROWN MORTGAGE COMPANY 3 6.67% $11,883
    Bank of England 3 6.96% $7,498
    AMERICAN FINANCIAL RESOURCES, INC. 3 7.08% $8,222
    M&T Bank 3 6.83% $6,597
    Mortgage Assurance Inc. 3 6.58% $4,030
    PHH Mortgage Corporation 3 5.58% $4,685
    TBI MORTGAGE COMPANY 3 6.29% $2,324
    CIBC Bank USA 3 6.63% $14,283
    Centier Bank 3 6.88% $6,033
    LADERA LENDING, INC. 3 6.58% $16,161
    JMAC LENDING, INC. 2 6.25% $18,508
    ALLIANT CREDIT UNION 2 6.06% $2,581
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.25% $9,495
    CANOPY MORTGAGE, LLC 2 6.25% $21,440
    Citizens Bank 2 6.63% $8,767
    EDUCATORS CREDIT UNION 2 6.25% $8,224
    FIRST COLONY MORTGAGE CORPORATION 2 6.38% $2,292
    NBH Bank 2 5.88% $13,402
    NETWORK CAPITAL FUNDING CORPORATION 2 5.94% $14,030
    Northpointe Bank 2 6.19% $15,667
    PANORAMA MORTGAGE GROUP, LLC 2 7.19% $13,337
    Plains Commerce Bank 2 6.13% $22,365
    RAPID MORTGAGE COMPANY 2 6.56% $5,195
    Sierra Pacific Mortgage Company, Inc. 2 6.87% $11,706
    SUMMIT FUNDING, INC. 2 6.69% $18,172
    The Central Trust Bank 2 6.00% $6,029
    OCEANSIDE MORTGAGE COMPANY 1 5.88% $4,311
    Hometown Equity Mortgage, LLC 1 7.25% $10,536
    HOMESTEAD FUNDING CORP. 1 5.88% $17,358
    Old Second National Bank 1 6.75% $22,251
    OPEN MORTGAGE, LLC 1 6.63% $19,932
    HALLMARK HOME MORTGAGE, LLC 1 7.25% $11,034
    VERITAS FUNDING, LLC 1 6.50% $19,355
    GVC MORTGAGE, INC. 1 7.63% $3,045
    Granite Community Bank 1 6.63% $18,052
    GMFS LLC 1 6.13% $1,820
    GENEVA FINANCIAL, LLC 1 7.13% $6,876
    AMERICAN INTERNET MORTGAGE, INC. 1 6.50% $8,622
    Gateway First Bank 1 6.25% $2,616
    FLAT BRANCH MORTGAGE, INC. 1 6.50% $8,938
    Flanagan State Bank 1 6.25% $4,866
    FIRST MORTGAGE COMPANY, INC. 1 6.25% $6,154
    POLARIS HOME FUNDING CORP. 1 6.75% $7,449
    PREMIA MORTGAGE, LLC 1 6.00% $16,217
    First Merchants Bank 1 7.13% $2,011
    Presidential Bank, FSB 1 7.13% $9,959
    First Financial Bank 1 6.13% $2,998
    First Financial Bank 1 7.25% $7,564
    FAMILY FINANCE MORTGAGE, LLC 1 6.75% $6,246
    ENVOY MORTGAGE, LTD 1 5.38% $18,785
    ENDEAVOR CAPITAL, LLC. 1 6.50% $18,004
    AMERICAN FINANCING CORPORATION 1 5.75% $12,884
    Regions Bank 1 6.63% $6,756
    RELIANCE FIRST CAPITAL, LLC 1 6.13% $7,552
    Encompass Lending Group, LP 1 5.75% $7,160
    EMM LOANS LLC 1 5.75% $21,344
    S1L, Inc. 1 6.00% $13,008
    CONTOUR MORTGAGE CORPORATION 1 6.25% $6,241
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $5,873
    SIRVA MORTGAGE, INC. 1 6.50% $17,270
    Stifel Bank and Trust 1 6.13% $7,158
    STOCKTON MORTGAGE CORPORATION 1 7.25% $9,389
    Community Mortgage Banc Corporation 1 7.13% $10,019
    WISCONSIN MORTGAGE CORPORATION 1 6.75% $1,554
    Summit Mortgage Corporation 1 6.25% $2,101
    Commerce Home Mortgage, Inc. 1 5.63% $3,381
    CME Federal Credit Union 1 6.75% $1,945
    Citibank 1 6.25% $5,134
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.25% $11,332
    Capital Bank 1 5.75% $3,956
    Busey Bank 1 6.63% $8,044
    BOKF 1 7.13% $6,671
    TJC Mortgage, Inc. 1 6.50% $23,769
    BM Real Estate Services, Inc. 1 6.63% $12,260
    BMO Harris Bank 1 6.25% $8,897
    BAY-VALLEY MORTGAGE GROUP 1 6.63% $1,798
    Bank of America 1 5.75% $5,362
    AXIA FINANCIAL, LLC 1 7.25% $8,552
    Associated Bank 1 6.13% $4,222
    A + MORTGAGE SERVICES, INC. 1 6.25% $3,125
    MJW Financial LLC 1 5.75% $4,461
    Midland States Bank 1 6.38% $6,146
    NexBank 1 6.63% $13,318
    MEMBER FIRST MORTGAGE, LLC 1 5.75% $10,121
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 4.99% $4,158
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.13% $10,785
    INSPIRE HOME LOANS INC. 1 5.63% $7,870

    The top Chicago VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,144 VA loans originated. Their average total fees are $6,715, which is $1,122 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Chicago VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($3,273), CIBM Bank ($3,759), JPMorgan Chase Bank ($4,937), PLANET HOME LENDING, LLC ($4,983) and Lakeview Community Capital, LLC ($6,031).

    The lowest rate Chicago VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.19%), DHI MORTGAGE COMPANY, LTD. (5.49%), CLEARPATH LENDING (5.69%), First Federal Bank (5.71%) and VILLAGE CAPITAL MORTGAGE (5.73%).

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.