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 271 lenders originated 14,624 VA loans during 2021. The total origination value was $4,108,580,000, with an average VA loan value of $280,948.

Chicago VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Chicago averaged 0.44% for the week of 2022-11-25, compared to the national average (all VA variants) of 0% for the same period.

Chicago's average VA mortgage closing costs are $5,423.

The average rate for the prior week (2022-11-18) was 6.83% and one month ago for the week of 2022-10-21, the average rate was 7.07%.

The average rate one year ago was 3.46%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.17%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 1,662 2.86% $6,135
QUICKEN LOANS, LLC 1,142 2.49% $5,124
FREEDOM MORTGAGE CORPORATION 987 2.44% $3,225
GUARANTEED RATE, INC. 603 2.65% $6,170
NAVY FEDERAL CREDIT UNION 431 2.47% $5,909
LOANDEPOT.COM, LLC 395 2.76% $6,318
PENNYMAC LOAN SERVICES, LLC 385 2.46% $5,566
USAA Federal Savings Bank 322 2.88% $5,157
The Federal Savings Bank 315 2.62% $7,479
CALIBER HOME LOANS, INC. 314 2.59% $4,850
UNITED WHOLESALE MORTGAGE, LLC 290 2.57% $5,979
CROSSCOUNTRY MORTGAGE, LLC 241 2.89% $7,923
Mr. Cooper ( Nationstar Mortgage ) 238 2.81% $3,778
HOME POINT FINANCIAL CORPORATION 219 2.52% $4,588
Barrington Bank & Trust Company, N.A. 213 2.70% $5,211
LAKEVIEW LOAN SERVICING, LLC 201 2.51% $2,678
CLEARPATH LENDING 198 2.31% $4,510
FIRST CENTENNIAL MORTGAGE CORPORATION 195 2.64% $5,506
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 190 2.96% $7,225
VILLAGE CAPITAL MORTGAGE 187 2.37% $3,376
Wells Fargo Bank 182 2.51% $4,474
NEW DAY FINANCIAL, LLC 146 2.78% $6,674
NEWREZ LLC 132 2.71% $4,129
AMERICAN PACIFIC MORTGAGE CORPORATION 122 3.07% $8,258
COMPASS MORTGAGE, INC. 122 2.72% $6,337
MUTUAL OF OMAHA MORTGAGE, INC. 107 2.70% $5,660
Carrington Mortgage Services, LLC 102 2.94% $5,265
Key Mortgage Services, Inc. 88 2.90% $9,033
DRAPER AND KRAMER MORTGAGE CORP. 87 2.63% $4,893
FINANCE OF AMERICA MORTGAGE LLC 79 2.87% $5,881
AMERICAN PORTFOLIO MORTGAGE CORPORATION 77 2.69% $5,579
AMERICAN FINANCIAL NETWORK, INC. 77 2.67% $9,281
UNION HOME MORTGAGE CORP. 76 2.66% $6,276
Neighborhood Loans, Inc. 73 2.86% $7,986
GUARANTEED RATE AFFINITY, LLC 67 2.72% $7,496
Lakeview Community Capital, LLC 64 2.49% $2,592
Low VA Rates, LLC 63 2.47% $4,552
PENTAGON FEDERAL CREDIT UNION 58 2.34% $2,181
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 57 3.14% $8,436
First Guaranty Mortgage Corporation 54 2.57% $3,560
AMERISAVE MORTGAGE CORPORATION 54 2.62% $6,605
InterContinental Capital Group, Inc 54 2.36% $3,643
Flagstar Bank, FSB 51 2.83% $6,145
LEADERONE FINANCIAL CORPORATION 51 2.91% $6,557
PLANET HOME LENDING, LLC 50 2.55% $4,693
U.S. Bank 49 2.77% $5,766
BROKER SOLUTIONS, INC. 45 2.70% $6,177
HOMESIDE FINANCIAL, LLC 41 3.07% $7,998
EAGLE HOME MORTGAGE, LLC 41 2.89% $3,896
CELEBRITY HOME LOANS, LLC 39 2.93% $5,616
The Huntington National Bank 38 2.77% $6,041
BLUELEAF LENDING, LLC 36 2.52% $3,267
Magnolia Bank 35 2.54% $8,855
HOMEBRIDGE FINANCIAL SERVICES, INC. 35 2.77% $7,528
PLAZA HOME MORTGAGE, INC. 35 2.92% $4,176
NBKC BANK 34 2.50% $5,792
NVR Mortgage Finance, Inc. 34 2.84% $5,162
NP, Inc. 34 2.29% $4,428
BAY EQUITY LLC 34 2.83% $5,987
DHI MORTGAGE COMPANY, LTD. 33 2.82% $4,096
North American Savings Bank, F.S.B. 31 2.36% $4,687
CMG MORTGAGE, INC. 31 2.82% $8,940
DIRECT MORTGAGE LOANS, LLC 30 3.34% $8,946
ACCELERATE MORTGAGE, LLC 30 2.29% $5,439
SUN WEST MORTGAGE COMPANY, INC. 30 2.46% $4,064
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 30 2.99% $7,597
Mid-Continent Funding, Inc. 29 2.80% $6,156
Paramount Residential Mortgage Group, Inc. 29 2.84% $5,967
GATEWAY MORTGAGE CORPORATION 25 2.66% $4,750
DAS Acquisition Company, LLC 24 2.90% $5,411
Hometown Lenders, Inc. 24 3.15% $10,658
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 22 2.69% $9,167
First Federal Bank 22 3.02% $7,112
PNC Bank 21 2.76% $3,916
SOVEREIGN LENDING GROUP INCORPORATED 21 2.52% $6,194
Fifth Third Bank 20 2.90% $6,284
First Midwest Bank 20 2.94% $4,710
Pacor Mortgage Corp 20 2.63% $9,417
STEARNS LENDING, LLC 20 2.64% $6,250
CIBM Bank 19 2.90% $5,781
MID AMERICA MORTGAGE, INC. 19 2.76% $4,536
CHERRY CREEK MORTGAGE, LLC 19 3.38% $4,459
HANCOCK MORTGAGE PARTNERS, LLC 18 3.03% $5,479
Prosperity Home Mortgage, LLC 18 2.62% $10,035
M/I FINANCIAL, LLC 18 2.83% $7,543
FIRST STATE MORTGAGE SERVICES, LLC 17 2.49% $5,854
MOVEMENT MORTGAGE, LLC 17 2.76% $7,871
PRIMELENDING, A PLAINSCAPITAL COMPANY 16 3.21% $4,990
JPMorgan Chase Bank 16 2.98% $6,718
ARK-LA-TEX FINANCIAL SERVICES, LLC. 16 2.83% $6,091
UNIVERSITY LENDING GROUP, LLC 16 2.95% $7,237
The Home Loan Expert LLC 15 2.72% $6,973
OCMBC, INC. 15 3.16% $6,373
TJC Mortgage, Inc. 14 2.27% $4,965
PROPER RATE, LLC 13 2.79% $6,394
Equity Prime Mortgage LLC 13 3.57% $5,995
First National Bank of Omaha 13 2.83% $3,318
INLANTA MORTGAGE, INC. 13 3.02% $5,070
Wyndham Capital Mortgage, Inc. 12 2.33% $3,992
Midwest Community Bank 12 2.56% $5,670
INLAND BANK & TRUST 11 2.91% $5,535
Old Second National Bank 11 2.77% $6,101
PULTE MORTGAGE LLC 11 2.86% $8,971
SUCCESS MORTGAGE PARTNERS, INC. 10 2.89% $9,587
RUOFF MORTGAGE COMPANY, INC. 10 3.06% $4,984
BNC National Bank 10 2.35% $5,196
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 10 2.81% $4,742
ACADEMY MORTGAGE CORPORATION 10 2.93% $5,956
Plains Commerce Bank 10 2.76% $7,592
PARLAY MORTGAGE & PROPERTY, INC. 9 2.78% $3,503
Nations Lending Corporation 9 2.93% $7,975
UNITED HOME LOANS, INC. 9 2.63% $7,071
PHH Mortgage Corporation 9 3.29% $4,298
Bank of England 9 3.00% $4,701
M&T Bank 9 2.56% $3,990
Network Funding, L.P. 8 2.81% $13,184
KS StateBank 8 2.38% $10,879
Allied First Bank,sb 8 2.59% $4,533
Strong Home Mortgage, LLC 8 2.31% $3,064
Waterstone Mortgage Corporation 7 3.05% $10,657
SUMMIT FUNDING, INC. 7 2.94% $8,032
Flanagan State Bank 7 2.55% $3,327
THE ANDERSON FINANCIAL GROUP, INC. 7 2.68% $4,859
Associated Bank 7 2.89% $3,228
GUILD MORTGAGE COMPANY 7 2.79% $3,211
United Fidelity Funding Corp. 7 2.98% $14,570
Ixonia Bank 7 2.91% $4,324
HOMESTEAD FUNDING CORP. 7 2.43% $5,013
TOWNE MORTGAGE COMPANY 6 2.85% $6,212
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 3.06% $8,161
Paramount Bank 6 2.63% $8,641
Armed Forces Bank 6 2.75% $2,537
CANOPY MORTGAGE, LLC 6 2.69% $12,396
Mutual Federal Bank 5 3.15% $7,502
AmRes Corporation 5 2.88% $6,737
Blue Ridge Bank 5 2.50% $2,732
Centier Bank 5 2.63% $3,461
Citizens Bank 5 2.60% $3,345
First Federal Bank of Kansas City 5 2.25% $2,371
First Savings Bank 5 2.28% $6,371
Meridian Bank Corporation 5 2.38% $6,137
NATIONS DIRECT MORTGAGE, LLC 5 2.83% $4,782
NETWORK CAPITAL FUNDING CORPORATION 5 2.50% $5,190
RAPID MORTGAGE COMPANY 5 3.33% $12,528
Regions Bank 5 2.63% $8,458
TCF National Bank 5 2.63% $3,571
The Central Trust Bank 5 2.25% $5,703
TOP FLITE FINANCIAL, INC. 5 3.03% $7,672
ZILLOW HOME LOANS, LLC 5 2.65% $4,880
WISCONSIN MORTGAGE CORPORATION 4 2.47% $6,264
LIBERTY HOME MORTGAGE CORPORATION 4 2.53% $7,018
ROYAL UNITED MORTGAGE LLC 4 2.91% $12,116
LAND HOME FINANCIAL SERVICES, INC. 4 2.94% $8,646
T2 FINANCIAL LLC 4 2.75% $9,778
VAN DYK MORTGAGE CORPORATION 4 3.47% $6,781
Capital Bank 4 2.41% $2,153
GERSHMAN INVESTMENT CORP. 4 3.09% $6,238
Colten Mortgage, LLC 4 3.19% $4,797
V.I.P. MORTGAGE, INC. 4 2.69% $8,906
GENEVA FINANCIAL, LLC 4 3.25% $6,526
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 3.19% $6,988
Bank of America 4 2.72% $10,581
The Equitable Bank, S.S.B. 3 2.38% $6,539
MYCUMORTGAGE, LLC 3 2.92% $3,690
NATIONS RELIABLE LENDING, LLC 3 3.25% $8,263
Gateway First Bank 3 2.79% $6,970
LAKE MORTGAGE COMPANY INC 3 3.42% $8,118
LAKE MICHIGAN CREDIT UNION 3 2.58% $7,283
TEACHERS CREDIT UNION 3 2.58% $2,490
Sunflower Bank 3 2.62% $11,316
Century Mortgage Company DBA Century Lending Company 3 2.67% $5,678
Northpointe Bank 3 2.29% $3,919
CHURCHILL MORTGAGE CORPORATION 3 2.79% $4,702
Servion, Inc. 3 2.79% $9,398
First Home Bank 3 2.42% $2,989
SECURITYNATIONAL MORTGAGE COMPANY 3 3.04% $4,628
UNITED SECURITY FINANCIAL CORP 3 2.29% $3,798
CITYWIDE HOME LOANS, LLC 3 3.33% $5,084
GVC MORTGAGE, INC. 3 3.04% $4,956
Credence Funding Corporation 3 2.38% $3,470
PREMIA MORTGAGE, LLC 3 2.79% $9,432
EVERETT FINANCIAL, INC. 3 3.08% $6,359
ENVOY MORTGAGE, LTD 3 3.13% $12,448
LENDING 3, INC. 3 2.92% $9,091
EMM LOANS LLC 3 2.58% $11,080
MORTGAGE 1 INCORPORATED 3 3.04% $15,813
AmeriHome Mortgage Company, LLC 3 2.83% $2,586
GMFS LLC 3 2.67% $8,466
CIBC Bank USA 2 3.06% $7,864
LOANPAL, LLC 2 2.25% $9,042
AMERICAN FINANCING CORPORATION 2 2.63% $6,838
MLD MORTGAGE INC. 2 2.69% $13,962
MORTGAGE ACCESS CORP. 2 2.75% $8,260
Goldwater Bank, N.A. 2 2.31% $4,982
Florida Capital Bank 2 2.44% $8,726
FLAT BRANCH MORTGAGE, INC. 2 2.81% $4,442
First Option Mortgage, LLC 2 3.25% $3,751
First Financial Bank 2 2.69% $8,385
PANORAMA MORTGAGE GROUP, LLC 2 3.00% $8,241
ENDEAVOR CAPITAL, LLC. 2 2.56% $2,399
Platinum Home Mortgage Corporation 2 3.00% $13,455
DELMAR FINANCIAL COMPANY 2 3.06% $14,259
Prime Choice Funding Inc. 2 2.50% $6,679
Community First National Bank 2 2.63% $4,068
RELIANCE FIRST CAPITAL, LLC 2 2.88% $5,448
Sierra Pacific Mortgage Company, Inc. 2 3.00% $6,590
Citibank 2 2.81% $7,803
BEST CAPITAL FUNDING 2 2.88% $5,575
A + MORTGAGE SERVICES, INC. 2 2.31% $478
Truist 2 2.75% $1,219
UNITED MORTGAGE CORP. 2 3.25% $6,563
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 2 2.63% $5,753
AMERICAN HOME LENDING USA, LLC 2 2.62% $6,937
JAMES B. NUTTER & COMPANY 2 2.81% $2,617
INTERCAP LENDING INC. 2 2.56% $3,073
LENDUS, LLC 2 2.63% $12,870
FEDEX EMPLOYEES CREDIT ASSOCIATION 1 3.00% $14,190
Financial Funding Solutions, Inc. 1 3.25% $1,461
OCEANSIDE MORTGAGE COMPANY 1 2.25% $888
First Horizon Bank 1 2.75% $13,306
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.50% $2,618
SIWELL, INC. 1 2.75% $5,095
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.63% $8,520
Springfield First Community Bank 1 2.50% $5,623
STARBOARD FINANCIAL MANAGEMENT, LLC 1 2.88% $9,382
INSPIRE HOME LOANS INC. 1 3.25% $10,365
STOCKTON MORTGAGE CORPORATION 1 2.75% $9,401
First Internet Bank of Indiana 1 3.25% $4,199
First Merchants Bank 1 2.63% $2,583
CASTLE & COOKE MORTGAGE, LLC 1 2.75% $310
NexBank 1 2.50% $4,665
First Mortgage Solutions, LLC 1 2.25% $450
First United Bank and Trust Company 1 2.75% $17,889
TBI MORTGAGE COMPANY 1 2.38% $2,570
West Town Bank & Trust 1 2.75% $16,788
Watermark Capital, Inc. 1 2.50% $2,860
Texana Bank 1 2.75% $8,265
Blackhawk Bank 1 2.63% $12,097
NBH Bank 1 2.50% $156
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $2,510
HOMESTAR FINANCIAL CORPORATION 1 3.25% $9,307
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $1,997
GSF Mortgage Corporation 1 2.25% $2,939
The Union Bank Company 1 3.25% $3,046
TIAA, FSB 1 2.25% $2,964
Bank Five Nine 1 2.75% $2,610
ACCESS CAPITAL FUNDING, L.L.C. 1 3.50% $4,980
MICHIGAN MUTUAL, INC. 1 2.75% $19,197
Triumph Bank 1 2.25% $5,611
KELLER MORTGAGE, LLC 1 2.75% $16,249
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 3.00% $8,343
AMERITRUST MORTGAGE CORPORATION 1 2.50% $3,734
Ameris Bank 1 2.50% $2,542
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $5,947
Hometown Equity Mortgage, LLC 1 3.13% $3,096
HALLMARK HOME MORTGAGE, LLC 1 2.88% $2,819
EMBRACE HOME LOANS, INC. 1 2.38% $7,213
Amerifirst Financial, Inc. 1 3.25% $3,837
FAMILY FINANCE MORTGAGE, LLC 1 2.63% $3,039
FBC MORTGAGE, LLC 1 2.25% $5,503
AMERIFIRST FINANCIAL CORPORATION 1 2.75% $13,586
Community Mortgage Banc Corporation 1 3.00% $15,526
MEMBER FIRST MORTGAGE, LLC 1 2.88% $3,402
COMMUNITYAMERICA 1 2.50% $3,960
Commerce Home Mortgage, Inc. 1 2.75% $4,850
FCB Banks 1 2.50% $3,246
AMCAP MORTGAGE, LTD. 1 2.25% $16,414
Red River Bank 1 2.38% $3,169
Advisors Mortgage Group, L.L.C. 1 2.25% $1,334
Horizon Bank 1 2.99% $15,697
RESIDENTIAL BANCORP. 1 2.75% $4,869

The top Chicago VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,662 VA loans originated. Their average total fees are $6,135, which is $1,012 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Chicago VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($2,181), Lakeview Community Capital, LLC ($2,592), LAKEVIEW LOAN SERVICING, LLC ($2,678), FREEDOM MORTGAGE CORPORATION ($3,225) and BLUELEAF LENDING, LLC ($3,267).

The lowest rate Chicago VA lenders (with over 10 loans originated) are TJC Mortgage, Inc. (2.27%), ACCELERATE MORTGAGE, LLC (2.29%), NP, Inc. (2.29%), CLEARPATH LENDING (2.31%) and Wyndham Capital Mortgage, Inc. (2.33%).


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 $287,450 (6.1%) $451,190 (4.6%) 1.07 27,340
2018-02-01 $303,778 (6.6%) $470,426 (4.4%) 1.10 27,803
2018-03-01 $325,000 (8.5%) $490,067 (5.5%) 1.14 29,568
2018-04-01 $334,450 (7.9%) $494,035 (4.3%) 1.13 31,396
2018-05-01 $335,000 (4.9%) $491,703 (3.3%) 1.12 33,479
2018-06-01 $332,000 (4.1%) $483,582 (2.2%) 1.11 36,157
2018-07-01 $326,450 (3.6%) $472,736 (1.1%) 1.09 38,246
2018-08-01 $319,900 (4.9%) $461,628 (1.3%) 1.07 39,309
2018-09-01 $315,000 (5.0%) $454,855 (0.8%) 1.06 40,022
2018-10-01 $310,445 (3.5%) $449,801 (-0.7%) 1.05 39,731
2018-11-01 $300,000 (1.3%) $446,369 (-0.6%) 1.02 37,416
2018-12-01 $295,490 (2.3%) $438,265 (-1.1%) 1.02 32,753
2019-01-01 $296,450 (3.1%) $441,426 (-2.2%) 1.02 29,848
2019-02-01 $309,570 (1.9%) $463,024 (-1.6%) 1.05 30,183
2019-03-01 $326,429 (0.4%) $476,721 (-2.7%) 1.07 32,136
2019-04-01 $339,000 (1.4%) $485,075 (-1.8%) 1.08 34,190
2019-05-01 $339,900 (1.5%) $481,874 (-2.0%) 1.06 36,592
2019-06-01 $337,000 (1.5%) $476,662 (-1.4%) 1.05 38,706
2019-07-01 $330,280 (1.2%) $469,287 (-0.7%) 1.03 40,169
2019-08-01 $325,155 (1.6%) $460,369 (-0.3%) 1.03 40,608
2019-09-01 $319,386 (1.4%) $453,724 (-0.3%) 1.02 40,530
2019-10-01 $314,900 (1.4%) $448,999 (-0.2%) 1.02 40,263
2019-11-01 $305,000 (1.7%) $443,109 (-0.7%) 1.00 36,763
2019-12-01 $299,000 (1.2%) $439,513 (0.3%) 1.00 31,589
2020-01-01 $299,450 (1.0%) $442,730 (0.3%) 1.00 28,763
2020-02-01 $317,632 (2.6%) $465,597 (0.6%) 1.04 29,278
2020-03-01 $326,250 (-0.1%) $474,858 (-0.4%) 1.02 29,828
2020-04-01 $324,850 (-4.2%) $464,789 (-4.2%) 1.02 28,393
2020-05-01 $329,756 (-3.0%) $476,697 (-1.1%) 1.00 28,421
2020-06-01 $339,000 (0.6%) $488,663 (2.5%) 1.00 28,321
2020-07-01 $342,950 (3.8%) $496,952 (5.9%) 0.99 27,320
2020-08-01 $345,000 (6.1%) $501,870 (9.0%) 0.99 26,954
2020-09-01 $346,237 (8.4%) $504,425 (11.2%) 0.99 27,152
2020-10-01 $339,900 (7.9%) $499,892 (11.3%) 0.97 27,214
2020-11-01 $332,500 (9.0%) $496,971 (12.2%) 0.97 24,710
2020-12-01 $325,000 (8.7%) $494,310 (12.5%) 0.97 20,942
2021-01-01 $325,000 (8.5%) $504,887 (14.0%) 0.97 18,030
2021-02-01 $339,949 (7.0%) $543,649 (16.8%) 0.99 16,022
2021-03-01 $349,900 (7.3%) $551,664 (16.2%) 0.99 15,726
2021-04-01 $349,948 (7.7%) $552,117 (18.8%) 0.95 16,354
2021-05-01 $350,000 (6.1%) $548,889 (15.1%) 0.93 17,237
2021-06-01 $350,000 (3.2%) $536,925 (9.9%) 0.92 19,439
2021-07-01 $349,900 (2.0%) $521,193 (4.9%) 0.92 21,538
2021-08-01 $339,450 (-1.6%) $499,584 (-0.5%) 0.91 22,483
2021-09-01 $329,950 (-4.7%) $490,228 (-2.8%) 0.88 22,423
2021-10-01 $329,000 (-3.2%) $486,830 (-2.6%) 0.88 21,766
2021-11-01 $321,950 (-3.2%) $484,354 (-2.5%) 0.86 18,985
2021-12-01 $312,500 (-3.9%) $479,025 (-3.1%) 0.85 15,585
2022-01-01 $314,000 (-3.4%) $491,909 (-2.6%) 0.85 12,739
2022-02-01 $324,487 (-4.6%) $517,368 (-4.8%) 0.84 11,603
2022-03-01 $333,995 (-4.6%) $527,017 (-4.5%) 0.84 11,998
2022-04-01 $349,900 (0.0%) $534,851 (-3.1%) 0.84 12,227
2022-05-01 $356,425 (1.8%) $538,143 (-2.0%) 0.81 14,673
2022-06-01 $359,950 (2.8%) $532,801 (-0.8%) 0.80 16,891
2022-07-01 $350,000 (0.0%) $515,514 (-1.1%) 0.79 19,573
2022-08-01 $349,900 (3.1%) $509,682 (2.0%) 0.81 19,770
2022-09-01 $340,000 (3.1%) $504,045 (2.8%) 0.80 19,660
2022-10-01 $339,900 (3.3%) $499,482 (2.6%) 0.80 19,685
Chicago's median listing price for 2022-10-01 was $339,900, a difference of $10,900 (3.3%) versus the prior year and $-100 versus the prior month.

Chicago's median listing price comes in at 80% of the national average.

Chicago's average listing price for 2022-10-01 was $499,482, a difference of $12,652 (2.6%) versus the prior year and $-4,563 versus the prior month.

For the 2022-10-01 period, Chicago had 19,685 MLS listings, a difference of 25 listings (0%) versus the prior month and -2,081 listings (-10%) 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 77 days 1,895 sqft
2018-02-01 59 days 1,955 sqft
2018-03-01 44 days 2,000 sqft
2018-04-01 43 days 2,023 sqft
2018-05-01 43 days 2,028 sqft
2018-06-01 44 days 2,019 sqft
2018-07-01 46 days 2,000 sqft
2018-08-01 49 days 1,987 sqft
2018-09-01 51 days 1,972 sqft
2018-10-01 52 days 1,939 sqft
2018-11-01 58 days 1,906 sqft
2018-12-01 68 days 1,870 sqft
2019-01-01 75 days 1,866 sqft
2019-02-01 61 days 1,906 sqft
2019-03-01 44 days 1,964 sqft
2019-04-01 40 days 2,000 sqft
2019-05-01 42 days 2,000 sqft
2019-06-01 44 days 2,000 sqft
2019-07-01 46 days 2,000 sqft
2019-08-01 49 days 1,974 sqft
2019-09-01 52 days 1,942 sqft
2019-10-01 56 days 1,919 sqft
2019-11-01 64 days 1,900 sqft
2019-12-01 76 days 1,873 sqft
2020-01-01 78 days 1,863 sqft
2020-02-01 46 days 1,920 sqft
2020-03-01 44 days 1,964 sqft
2020-04-01 53 days 1,937 sqft
2020-05-01 61 days 1,961 sqft
2020-06-01 47 days 1,944 sqft
2020-07-01 43 days 1,914 sqft
2020-08-01 43 days 1,876 sqft
2020-09-01 43 days 1,809 sqft
2020-10-01 44 days 1,800 sqft
2020-11-01 51 days 1,736 sqft
2020-12-01 60 days 1,700 sqft
2021-01-01 66 days 1,680 sqft
2021-02-01 48 days 1,679 sqft
2021-03-01 43 days 1,676 sqft
2021-04-01 37 days 1,694 sqft
2021-05-01 37 days 1,706 sqft
2021-06-01 34 days 1,729 sqft
2021-07-01 35 days 1,729 sqft
2021-08-01 37 days 1,705 sqft
2021-09-01 39 days 1,694 sqft
2021-10-01 42 days 1,672 sqft
2021-11-01 46 days 1,643 sqft
2021-12-01 55 days 1,606 sqft
2022-01-01 61 days 1,600 sqft
2022-02-01 41 days 1,600 sqft
2022-03-01 36 days 1,622 sqft
2022-04-01 32 days 1,656 sqft
2022-05-01 30 days 1,700 sqft
2022-06-01 31 days 1,726 sqft
2022-07-01 32 days 1,737 sqft
2022-08-01 37 days 1,728 sqft
2022-09-01 41 days 1,714 sqft
2022-10-01 40 days 1,714 sqft
Chicago's median listing age (time on market) for 2022-10-01 was 40 days. This is -5% shorter than the same period one year ago.

Chicago's median square footage for active listings during the 2022-10-01 period was 1,714 sqft. One year prior, the average listing was 1,672 sqft.

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.