Chicago VA Loan Rates, Closing Costs & Stats
Chicago-Naperville-Elgin, IL-IN-WI
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
0.54%
for the week of 2025-07-04, 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 (2025-06-27) was
6.97% and
one month ago for the week of 2025-05-30, the
average rate was 6.9%.
The average rate one year ago was 7.01%.
For refis of the same type during the week of 2025-07-04, the average rate
was 0.31%.
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.
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%).
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%) | 1.07 | 27,019 |
| 2018-02-01 | $304,500 (6.1%) | $471,391 (4.0%) | 1.11 | 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%) | 1.14 | 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%) | 1.11 | 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%) | 1.07 | 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%) | 1.03 | 29,475 |
| 2019-02-01 | $312,300 (2.6%) | $464,293 (-1.5%) | 1.06 | 29,818 |
| 2019-03-01 | $327,571 (0.8%) | $478,426 (-2.5%) | 1.07 | 31,821 |
| 2019-04-01 | $339,250 (1.3%) | $486,079 (-1.8%) | 1.08 | 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%) | 1.06 | 38,296 |
| 2019-07-01 | $331,450 (1.4%) | $470,195 (-0.7%) | 1.04 | 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%) | 1.02 | 39,754 |
| 2019-11-01 | $306,950 (1.6%) | $444,237 (-0.7%) | 1.01 | 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%) | 1.04 | 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%) | 1.02 | 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%) | 1.00 | 28,012 |
| 2020-07-01 | $344,000 (3.8%) | $497,445 (5.8%) | 1.00 | 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%) | 0.99 | 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%) | 0.98 | 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%) | 0.91 | 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%) | 0.88 | 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%) | 0.85 | 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%) | 0.86 | 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%) | 0.88 | 14,689 |
| 2023-10-01 | $371,950 (9.4%) | $562,710 (12.6%) | 0.88 | 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%) | 0.86 | 12,423 |
| 2025-02-01 | $349,450 (-2.9%) | $539,603 (-6.3%) | 0.85 | 11,960 |
| 2025-03-01 | $360,000 (-4.0%) | $549,178 (-7.9%) | 0.85 | 12,282 |
| 2025-04-01 | $372,450 (-4.4%) | $559,903 (-8.1%) | 0.86 | 12,919 |
| 2025-05-01 | $379,900 (-3.8%) | $561,415 (-10.0%) | 0.86 | 14,082 |
Chicago's median listing price comes in at 86% of the national average.
Chicago's average listing price for 2025-05-01 was $561,415, a difference of $-62,332 (-10.0%) versus the prior year and $1,512 versus the prior month.
For the 2025-05-01 period, Chicago had 14,082 MLS listings, a difference of 1,163 listings (9%) versus the prior month and 1,787 listings (15%) 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 | 45 days | 2,000 sqft |
| 2018-08-01 | 47 days | 1,986 sqft |
| 2018-09-01 | 50 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 | 52 days | 1,929 sqft |
| 2020-05-01 | 60 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 | 44 days | 1,792 sqft |
| 2020-11-01 | 50 days | 1,731 sqft |
| 2020-12-01 | 59 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 | 34 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 | 31 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 | 35 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 | 42 days | 1,779 sqft |
| 2023-12-01 | 51 days | 1,759 sqft |
| 2024-01-01 | 56 days | 1,759 sqft |
| 2024-02-01 | 40 days | 1,765 sqft |
| 2024-03-01 | 34 days | 1,800 sqft |
| 2024-04-01 | 34 days | 1,800 sqft |
| 2024-05-01 | 29 days | 1,840 sqft |
| 2024-06-01 | 32 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 | 57 days | 1,698 sqft |
| 2025-02-01 | 43 days | 1,705 sqft |
| 2025-03-01 | 36 days | 1,711 sqft |
| 2025-04-01 | 33 days | 1,734 sqft |
| 2025-05-01 | 32 days | 1,756 sqft |
Chicago's median square footage for active listings during the 2025-05-01 period was 1,756 sqft. One year prior, the average listing was 1,840 sqft.