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 239 lenders originated 6,363 VA loans during 2022. The total origination value was $2,005,095,000, with an average VA loan value of $315,118.

Chicago VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Chicago averaged 6.18% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

Chicago's average VA mortgage closing costs are $5,892.

The average rate for the prior week (2023-05-19) was 6.3% and one month ago for the week of 2023-04-21, the average rate was 6.02%.

The average rate one year ago was 4.99%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.32%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 1,192 5.08% $7,858
QUICKEN LOANS, LLC 372 4.23% $10,994
GUARANTEED RATE, INC. 342 4.80% $8,274
NAVY FEDERAL CREDIT UNION 262 4.07% $7,758
LOANDEPOT.COM, LLC 228 4.76% $9,966
FREEDOM MORTGAGE CORPORATION 223 4.43% $11,067
UNITED WHOLESALE MORTGAGE, LLC 220 4.50% $8,691
The Federal Savings Bank 173 4.87% $12,557
USAA Federal Savings Bank 166 4.51% $8,786
CROSSCOUNTRY MORTGAGE, LLC 164 4.97% $11,146
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 125 5.09% $8,120
Mr. Cooper ( Nationstar Mortgage ) 101 4.82% $10,091
PENNYMAC LOAN SERVICES, LLC 97 3.50% $7,852
Barrington Bank & Trust Company, N.A. 82 4.81% $7,689
FIRST CENTENNIAL MORTGAGE CORPORATION 81 4.93% $7,491
NEW DAY FINANCIAL, LLC 80 5.07% $10,495
CALIBER HOME LOANS, INC. 79 4.65% $9,028
AMERICAN PACIFIC MORTGAGE CORPORATION 76 5.12% $11,999
HOME POINT FINANCIAL CORPORATION 70 4.48% $10,517
Neighborhood Loans, Inc. 64 4.90% $10,776
GUARANTEED RATE AFFINITY, LLC 61 4.94% $8,597
MUTUAL OF OMAHA MORTGAGE, INC. 58 4.80% $9,832
Key Mortgage Services, Inc. 53 5.17% $10,607
DHI MORTGAGE COMPANY, LTD. 48 3.94% $5,791
NEWREZ LLC 47 4.08% $8,628
COMPASS MORTGAGE, INC. 46 4.86% $10,424
AMERISAVE MORTGAGE CORPORATION 46 4.43% $12,659
JPMorgan Chase Bank 44 4.87% $7,445
AMERICAN PORTFOLIO MORTGAGE CORPORATION 40 4.54% $8,552
Wells Fargo Bank 39 4.01% $6,876
Flagstar Bank, FSB 37 4.58% $9,043
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 34 5.09% $7,745
VILLAGE CAPITAL MORTGAGE 32 3.71% $7,952
PROPER RATE, LLC 29 4.28% $8,752
EAGLE HOME MORTGAGE, LLC 29 4.53% $7,286
MOVEMENT MORTGAGE, LLC 28 4.79% $9,603
LAKEVIEW LOAN SERVICING, LLC 27 3.40% $5,180
UNION HOME MORTGAGE CORP. 25 5.16% $9,011
NVR Mortgage Finance, Inc. 25 4.45% $7,240
DIRECT MORTGAGE LOANS, LLC 25 5.22% $10,857
LEADERONE FINANCIAL CORPORATION 24 4.66% $9,157
PENTAGON FEDERAL CREDIT UNION 24 3.47% $7,695
BROKER SOLUTIONS, INC. 23 4.82% $12,604
FINANCE OF AMERICA MORTGAGE LLC 23 4.34% $8,451
DRAPER AND KRAMER MORTGAGE CORP. 23 4.79% $6,724
CARDINAL FINANCIAL 21 4.06% $10,272
The Huntington National Bank 21 4.83% $9,234
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 20 5.00% $6,777
HOMEBRIDGE FINANCIAL SERVICES, INC. 20 4.71% $8,797
PRIMELENDING, A PLAINSCAPITAL COMPANY 19 5.16% $9,158
BAY EQUITY LLC 19 5.34% $9,086
CMG MORTGAGE, INC. 19 4.13% $14,769
Hometown Lenders, Inc. 19 5.12% $10,290
HOMESIDE FINANCIAL, LLC 18 5.40% $9,707
PLAZA HOME MORTGAGE, INC. 18 4.95% $10,141
U.S. Bank 18 4.66% $8,396
Carrington Mortgage Services, LLC 18 4.99% $9,020
PLANET HOME LENDING, LLC 17 3.78% $10,356
HANCOCK MORTGAGE PARTNERS, LLC 17 5.57% $10,177
M/I FINANCIAL, LLC 16 4.14% $6,977
Equity Prime Mortgage LLC 16 5.69% $11,275
North American Savings Bank, F.S.B. 16 4.59% $7,125
Nations Lending Corporation 16 5.25% $10,196
CHERRY CREEK MORTGAGE, LLC 15 5.42% $8,339
CLEARPATH LENDING 14 3.31% $6,655
Lakeview Community Capital, LLC 14 3.92% $5,642
Paramount Residential Mortgage Group, Inc. 13 5.01% $12,426
First Federal Bank 13 5.52% $10,074
PULTE MORTGAGE LLC 13 4.65% $7,131
PNC Bank 13 3.97% $2,955
Magnolia Bank 13 4.19% $12,256
Mid-Continent Funding, Inc. 13 5.16% $8,681
GATEWAY MORTGAGE CORPORATION 12 3.91% $8,932
MORTGAGE SOLUTIONS OF COLORADO, LLC 11 5.55% $6,267
EVERETT FINANCIAL, INC. 11 5.44% $4,433
Mutual Federal Bank 11 4.31% $6,244
Low VA Rates, LLC 10 4.08% $13,890
NBKC BANK 10 4.04% $10,108
GREENSTATE CREDIT UNION 9 5.54% $4,850
BLUELEAF LENDING, LLC 9 4.01% $6,859
Citizens Bank 8 5.16% $8,340
Bank of England 8 5.44% $13,406
NETWORK CAPITAL FUNDING CORPORATION 8 4.31% $10,184
The Home Loan Expert LLC 8 5.36% $8,349
Fifth Third Bank 8 3.77% $4,235
DAS Acquisition Company, LLC 8 4.86% $7,861
UNIVERSITY LENDING GROUP, LLC 8 4.23% $10,929
Pacor Mortgage Corp 7 5.38% $9,279
ACADEMY MORTGAGE CORPORATION 7 5.04% $8,999
FIRST STATE MORTGAGE SERVICES, LLC 7 4.61% $12,011
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 4.54% $12,391
Strong Home Mortgage, LLC 7 3.61% $7,394
SOVEREIGN LENDING GROUP INCORPORATED 6 4.14% $16,414
RUOFF MORTGAGE COMPANY, INC. 6 4.48% $7,871
CIBM Bank 6 5.31% $6,569
THE ANDERSON FINANCIAL GROUP, INC. 6 4.31% $9,224
Century Mortgage Company DBA Century Lending Company 6 4.71% $11,268
SUN WEST MORTGAGE COMPANY, INC. 6 4.31% $12,593
Old Second National Bank 6 3.94% $8,266
First Guaranty Mortgage Corporation 6 3.42% $5,030
GENEVA FINANCIAL, LLC 5 5.55% $10,005
Prosperity Home Mortgage, LLC 5 4.50% $14,678
T2 FINANCIAL LLC 5 4.08% $9,227
SUCCESS MORTGAGE PARTNERS, INC. 5 4.42% $11,145
MLD MORTGAGE INC. 5 5.13% $8,478
NATIONS DIRECT MORTGAGE, LLC 5 4.35% $10,822
Plains Commerce Bank 5 5.70% $9,490
The Central Trust Bank 5 3.58% $9,836
Waterstone Mortgage Corporation 5 5.13% $13,407
OCMBC, INC. 5 5.30% $8,250
INLAND BANK & TRUST 5 4.93% $7,553
SUMMIT FUNDING, INC. 5 4.28% $15,924
Citibank 4 4.50% $9,554
Servion, Inc. 4 4.31% $7,535
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 5.28% $6,154
RESIDENTIAL BANCORP. 4 3.88% $11,802
INLANTA MORTGAGE, INC. 4 4.50% $8,697
The Union Bank Company 4 3.56% $8,253
Wyndham Capital Mortgage, Inc. 4 3.38% $5,314
UNITED HOME LOANS, INC. 4 4.78% $14,082
Bank of America 4 3.41% $15,251
University Bank 4 5.97% $8,241
Old National Bank 4 5.25% $4,052
Midwest Community Bank 4 3.81% $6,635
PARLAY MORTGAGE & PROPERTY, INC. 4 5.50% $8,439
M&T Bank 4 4.09% $7,801
PREMIA MORTGAGE, LLC 3 4.38% $1,755
American Mortgage & Equity Consultants, Inc. 3 5.88% $11,878
MID AMERICA MORTGAGE, INC. 3 4.08% $1,466
First National Bank of Omaha 3 5.75% $8,946
AmRes Corporation 3 4.33% $5,298
RAPID MORTGAGE COMPANY 3 5.00% $9,962
Armed Forces Bank 3 5.38% $7,084
NP, Inc. 3 3.13% $9,747
GUILD MORTGAGE COMPANY 3 4.63% $17,755
GSF Mortgage Corporation 3 5.42% $11,307
Peoples Bank 3 4.71% $14,063
Bank Five Nine 3 5.25% $8,391
Allied First Bank,sb 3 4.33% $10,691
INSPIRE HOME LOANS INC. 3 5.21% $5,064
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.75% $9,357
TEACHERS CREDIT UNION 2 4.00% $5,220
AMERICAN FINANCIAL RESOURCES, INC. 2 6.44% $11,672
AMERICAN FINANCING CORPORATION 2 3.44% $10,165
Associated Bank 2 5.94% $7,072
BNC National Bank 2 3.69% $16,435
CHURCHILL MORTGAGE CORPORATION 2 5.88% $7,482
Community First National Bank 2 4.75% $8,995
Credence Funding Corporation 2 2.81% $6,226
FAMILY FINANCE MORTGAGE, LLC 2 3.38% $5,544
FirstBank 2 2.94% $7,900
First Mortgage Solutions, LLC 2 3.44% $7,724
Flanagan State Bank 2 4.63% $7,898
Florida Capital Bank 2 4.63% $9,608
GMFS LLC 2 5.44% $12,549
HALLMARK HOME MORTGAGE, LLC 2 4.94% $7,093
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.94% $4,590
JAMES B. NUTTER & COMPANY 2 5.25% $10,478
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 4.88% $18,743
LADERA LENDING, INC. 2 4.25% $16,190
LAKE MORTGAGE COMPANY INC 2 4.94% $4,319
LAND HOME FINANCIAL SERVICES, INC. 2 5.25% $7,100
LOANFLIGHT LENDING, LLC 2 4.69% $9,864
NATIONS RELIABLE LENDING, LLC 2 5.25% $14,027
NATIONWIDE MORTGAGE BANKERS, INC. 2 5.94% $14,148
Paramount Bank 2 5.50% $9,309
RELIANCE FIRST CAPITAL, LLC 2 5.25% $10,020
SCOTT CREDIT UNION 2 3.56% $11,637
Service Federal Credit Union 2 3.63% $7,398
Sierra Pacific Mortgage Company, Inc. 2 4.19% $8,518
STOCKTON MORTGAGE CORPORATION 2 4.75% $10,338
TEXAS TECH 2 5.50% $11,765
US MORTGAGE CORPORATION 2 4.81% $10,965
PHH Mortgage Corporation 1 4.50% $9,467
Pinnacle Bank 1 4.25% $3,024
MORIA DEVELOPMENT, INC. 1 5.63% $14,505
MLB RESIDENTIAL LENDING, LLC 1 6.75% $15,050
Platinum Home Mortgage Corporation 1 6.25% $17,073
MJW Financial LLC 1 5.63% $3,011
MICHIGAN MUTUAL, INC. 1 3.88% $2,797
Meridian Bank Corporation 1 4.75% $7,262
Presidential Bank, FSB 1 5.25% $10,473
MEMBER FIRST MORTGAGE, LLC 1 3.50% $5,403
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.25% $10,158
KELLER MORTGAGE, LLC 1 3.63% $5,343
Ixonia Bank 1 2.75% $5,271
INTERCAP LENDING INC. 1 4.63% $13,588
Horizon Bank 1 5.75% $3,580
RANLIFE, INC. 1 6.63% $13,224
Hometown Equity Mortgage, LLC 1 5.00% $6,088
Assurance Financial Group, L.L.C. 1 6.75% $4,262
Home State Bank 1 5.13% $9,758
ROYAL UNITED MORTGAGE LLC 1 6.25% $10,216
HOMESTAR FINANCIAL CORPORATION 1 5.25% $7,902
S1L, Inc. 1 4.50% $16,504
AMERICAN HOME LENDING USA, LLC 1 7.13% $6,296
AMERICAN ADVISORS GROUP 1 5.25% $10,547
GVC MORTGAGE, INC. 1 5.75% $10,212
West Town Bank & Trust 1 5.00% $32,331
SIRVA MORTGAGE, INC. 1 3.75% $22,388
GOLDEN WEST ALLIANCE, INC. 1 6.50% $8,752
Springfield First Community Bank 1 5.25% $4,689
WISCONSIN MORTGAGE CORPORATION 1 5.25% $12,326
Gateway First Bank 1 4.75% $5,361
FLAT BRANCH MORTGAGE, INC. 1 2.63% $12,726
First Midwest Bank 1 2.63% $3,164
Sunflower Bank 1 2.75% $7,384
First Federal Bank of Kansas City 1 2.63% $2,649
FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $9,732
Academy Bank 1 4.50% $18,854
Texana Bank 1 4.63% $6,654
AMCAP MORTGAGE, LTD. 1 3.25% $10,683
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $10,011
FEDERATED MORTGAGE CORP. 1 4.75% $9,093
FCB Banks 1 4.75% $17,350
ENDEAVOR CAPITAL, LLC. 1 5.75% $3,967
EMM LOANS LLC 1 2.63% $15,659
EDUCATORS CREDIT UNION 1 6.88% $9,010
THOMPSON KANE & COMPANY, LLC 1 4.50% $19,406
TJC Mortgage, Inc. 1 3.13% $6,778
TOWNE MORTGAGE COMPANY 1 3.50% $2,470
Cornerstone First Mortgage, Inc 1 4.38% $8,093
United Fidelity Funding Corp. 1 4.63% $16,369
Commerce Home Mortgage, Inc. 1 2.75% $3,838
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.63% $2,953
CIBC Bank USA 1 6.25% $7,540
Capital Bank 1 2.25% $1,591
Bank of Tennessee 1 4.99% $38,636
Aurora Financial, LLC 1 2.25% $1,860
ZILLOW HOME LOANS, LLC 1 4.38% $4,342
VAN DYK MORTGAGE CORPORATION 1 5.13% $16,076
ONY GLO, INC. 1 4.00% $4,698
OCEANSIDE MORTGAGE COMPANY 1 5.00% $890
VERITAS FUNDING, LLC 1 4.75% $28,380
NOVA FINANCIAL & INVESTMENT CORPORATION 1 3.38% $1,603
Northpointe Bank 1 4.88% $18,642
MORTGAGEONE, INC. 1 6.50% $7,586
MORTGAGE FINANCIAL SERVICES, LLC 1 5.25% $11,723
MORTGAGE ACCESS CORP. 1 7.13% $4,690

The top Chicago VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,192 VA loans originated. Their average total fees are $7,858, which is $3,137 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Chicago VA lenders (with over 10 loans originated) are PNC Bank ($2,955), EVERETT FINANCIAL, INC. ($4,433), LAKEVIEW LOAN SERVICING, LLC ($5,180), Lakeview Community Capital, LLC ($5,642) and DHI MORTGAGE COMPANY, LTD. ($5,791).

The lowest rate Chicago VA lenders (with over 10 loans originated) are CLEARPATH LENDING (3.31%), LAKEVIEW LOAN SERVICING, LLC (3.40%), PENTAGON FEDERAL CREDIT UNION (3.47%), PENNYMAC LOAN SERVICES, LLC (3.50%) and VILLAGE CAPITAL MORTGAGE (3.71%).


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 $287,250 (6.0%) $450,244 (4.4%) 1.07 27,462
2018-02-01 $302,450 (6.1%) $469,265 (4.1%) 1.10 27,948
2018-03-01 $325,000 (8.5%) $488,539 (5.1%) 1.14 29,775
2018-04-01 $330,125 (6.8%) $492,281 (4.2%) 1.12 31,629
2018-05-01 $334,400 (5.3%) $489,961 (3.3%) 1.12 33,742
2018-06-01 $329,999 (3.9%) $482,142 (2.3%) 1.10 36,367
2018-07-01 $324,950 (3.2%) $471,224 (1.1%) 1.09 38,489
2018-08-01 $319,700 (6.3%) $460,186 (1.2%) 1.07 39,562
2018-09-01 $315,000 (5.0%) $453,712 (0.9%) 1.06 40,227
2018-10-01 $309,950 (3.4%) $448,876 (-0.6%) 1.05 39,896
2018-11-01 $299,950 (1.8%) $445,533 (-0.6%) 1.02 37,549
2018-12-01 $295,000 (2.2%) $437,503 (-1.1%) 1.02 32,860
2019-01-01 $295,950 (3.0%) $440,642 (-2.1%) 1.02 29,957
2019-02-01 $309,500 (2.3%) $462,219 (-1.5%) 1.05 30,300
2019-03-01 $325,035 (0.0%) $479,938 (-1.8%) 1.08 31,980
2019-04-01 $338,000 (2.4%) $485,294 (-1.4%) 1.07 34,408
2019-05-01 $339,250 (1.5%) $480,573 (-1.9%) 1.06 36,833
2019-06-01 $335,000 (1.5%) $475,613 (-1.4%) 1.05 38,919
2019-07-01 $329,950 (1.5%) $468,105 (-0.7%) 1.03 40,389
2019-08-01 $327,500 (2.4%) $467,396 (1.6%) 1.03 40,555
2019-09-01 $325,400 (3.3%) $466,079 (2.7%) 1.03 37,329
2019-10-01 $314,250 (1.4%) $448,135 (-0.2%) 1.01 40,391
2019-11-01 $304,900 (1.7%) $442,276 (-0.7%) 1.00 36,900
2019-12-01 $299,000 (1.4%) $438,796 (0.3%) 1.00 31,663
2020-01-01 $299,450 (1.2%) $441,963 (0.3%) 1.00 28,838
2020-02-01 $315,000 (1.8%) $464,352 (0.5%) 1.03 29,383
2020-03-01 $325,000 (0.0%) $473,376 (-1.4%) 1.02 29,999
2020-04-01 $323,400 (-4.3%) $463,282 (-4.5%) 1.01 28,557
2020-05-01 $329,000 (-3.0%) $474,889 (-1.2%) 1.00 28,625
2020-06-01 $336,355 (0.4%) $486,558 (2.3%) 0.99 28,544
2020-07-01 $339,995 (3.0%) $494,330 (5.6%) 0.99 27,611
2020-08-01 $344,900 (5.3%) $499,549 (6.9%) 0.99 27,206
2020-09-01 $343,550 (5.6%) $502,309 (7.8%) 0.98 27,378
2020-10-01 $339,900 (8.2%) $497,694 (11.1%) 0.97 27,446
2020-11-01 $331,995 (8.9%) $494,868 (11.9%) 0.97 24,898
2020-12-01 $325,000 (8.7%) $492,452 (12.2%) 0.97 21,084
2021-01-01 $325,000 (8.5%) $502,920 (13.8%) 0.97 18,122
2021-02-01 $339,450 (7.8%) $540,947 (16.5%) 0.99 16,163
2021-03-01 $349,000 (7.4%) $548,972 (16.0%) 0.99 15,878
2021-04-01 $349,900 (8.2%) $549,123 (18.5%) 0.95 16,544
2021-05-01 $350,000 (6.4%) $545,475 (14.9%) 0.93 17,477
2021-06-01 $350,000 (4.1%) $534,250 (9.8%) 0.92 19,694
2021-07-01 $349,000 (2.7%) $518,738 (4.9%) 0.92 21,816
2021-08-01 $337,450 (-2.2%) $497,376 (-0.4%) 0.90 22,741
2021-09-01 $329,900 (-4.0%) $488,068 (-2.8%) 0.88 22,673
2021-10-01 $325,900 (-4.1%) $484,886 (-2.6%) 0.87 21,991
2021-11-01 $319,950 (-3.6%) $482,074 (-2.6%) 0.86 19,186
2021-12-01 $312,200 (-3.9%) $476,972 (-3.1%) 0.85 15,719
2022-01-01 $310,000 (-4.6%) $489,356 (-2.7%) 0.84 12,837
2022-02-01 $322,500 (-5.0%) $513,979 (-5.0%) 0.84 11,725
2022-03-01 $332,450 (-4.7%) $523,739 (-4.6%) 0.83 12,152
2022-04-01 $349,900 (0.0%) $532,110 (-3.1%) 0.83 12,382
2022-05-01 $354,900 (1.4%) $535,511 (-1.8%) 0.81 14,846
2022-06-01 $359,900 (2.8%) $530,549 (-0.7%) 0.80 17,050
2022-07-01 $350,000 (0.3%) $513,747 (-1.0%) 0.79 19,719
2022-08-01 $349,450 (3.6%) $508,005 (2.1%) 0.81 19,915
2022-09-01 $340,000 (3.1%) $502,311 (2.9%) 0.79 19,798
2022-10-01 $339,500 (4.2%) $498,127 (2.7%) 0.80 19,805
2022-11-01 $329,950 (3.1%) $490,647 (1.8%) 0.79 19,018
2022-12-01 $322,400 (3.3%) $481,319 (0.9%) 0.80 16,289
2023-01-01 $327,450 (5.6%) $492,947 (0.7%) 0.81 14,258
2023-02-01 $337,495 (4.7%) $517,711 (0.7%) 0.81 12,900
2023-03-01 $352,225 (6.0%) $544,536 (4.0%) 0.83 12,275
2023-04-01 $369,000 (5.5%) $567,560 (6.7%) 0.86 11,824
Chicago's median listing price for 2023-04-01 was $369,000, a difference of $19,100 (5.5%) versus the prior year and $16,775 versus the prior month.

Chicago's median listing price comes in at 86% of the national average.

Chicago's average listing price for 2023-04-01 was $567,560, a difference of $35,450 (6.7%) versus the prior year and $23,024 versus the prior month.

For the 2023-04-01 period, Chicago had 11,824 MLS listings, a difference of -451 listings (-4%) versus the prior month and -558 listings (-5%) 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 1,894 sqft
2018-02-01 59 days 1,953 sqft
2018-03-01 44 days 2,000 sqft
2018-04-01 43 days 2,018 sqft
2018-05-01 43 days 2,023 sqft
2018-06-01 43 days 2,017 sqft
2018-07-01 45 days 2,000 sqft
2018-08-01 49 days 1,983 sqft
2018-09-01 51 days 1,970 sqft
2018-10-01 52 days 1,938 sqft
2018-11-01 57 days 1,905 sqft
2018-12-01 68 days 1,869 sqft
2019-01-01 74 days 1,866 sqft
2019-02-01 60 days 1,906 sqft
2019-03-01 44 days 1,980 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 45 days 2,000 sqft
2019-08-01 55 days 2,000 sqft
2019-09-01 59 days 1,986 sqft
2019-10-01 56 days 1,919 sqft
2019-11-01 64 days 1,900 sqft
2019-12-01 76 days 1,872 sqft
2020-01-01 78 days 1,863 sqft
2020-02-01 46 days 1,920 sqft
2020-03-01 44 days 1,962 sqft
2020-04-01 53 days 1,934 sqft
2020-05-01 60 days 1,958 sqft
2020-06-01 47 days 1,942 sqft
2020-07-01 43 days 1,911 sqft
2020-08-01 43 days 1,875 sqft
2020-09-01 43 days 1,808 sqft
2020-10-01 44 days 1,793 sqft
2020-11-01 51 days 1,733 sqft
2020-12-01 60 days 1,700 sqft
2021-01-01 65 days 1,680 sqft
2021-02-01 47 days 1,674 sqft
2021-03-01 43 days 1,675 sqft
2021-04-01 37 days 1,693 sqft
2021-05-01 36 days 1,703 sqft
2021-06-01 34 days 1,727 sqft
2021-07-01 35 days 1,728 sqft
2021-08-01 37 days 1,703 sqft
2021-09-01 39 days 1,693 sqft
2021-10-01 42 days 1,671 sqft
2021-11-01 46 days 1,643 sqft
2021-12-01 55 days 1,603 sqft
2022-01-01 61 days 1,600 sqft
2022-02-01 40 days 1,600 sqft
2022-03-01 36 days 1,622 sqft
2022-04-01 31 days 1,656 sqft
2022-05-01 30 days 1,700 sqft
2022-06-01 31 days 1,721 sqft
2022-07-01 32 days 1,732 sqft
2022-08-01 37 days 1,724 sqft
2022-09-01 41 days 1,707 sqft
2022-10-01 40 days 1,710 sqft
2022-11-01 45 days 1,703 sqft
2022-12-01 56 days 1,700 sqft
2023-01-01 62 days 1,700 sqft
2023-02-01 47 days 1,706 sqft
2023-03-01 42 days 1,744 sqft
2023-04-01 39 days 1,782 sqft
Chicago's median listing age (time on market) for 2023-04-01 was 39 days. This is 26% longer than the same period one year ago.

Chicago's median square footage for active listings during the 2023-04-01 period was 1,782 sqft. One year prior, the average listing was 1,656 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.