Chicago VA Loans

CHICAGO-NAPERVILLE-EVANSTON, IL

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 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 231 lenders originated 10,488 VA loans during 2021. The total origination value was $3,057,540,000, with an average VA loan value of $291,527.

Chicago VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Chicago averaged 4.73% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.41% and one month ago for the week of 2022-02-18, the average rate was 4.43%.

The average rate one year ago was 3.5%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.77%.

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 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. Total Fees
Mortgage Research Center, LLC 1,172 2.86% $6,234
QUICKEN LOANS, LLC 825 2.49% $5,139
FREEDOM MORTGAGE CORPORATION 689 2.42% $3,324
GUARANTEED RATE, INC. 497 2.65% $6,237
LOANDEPOT.COM, LLC 311 2.80% $6,796
NAVY FEDERAL CREDIT UNION 264 2.47% $5,966
The Federal Savings Bank 263 2.60% $7,398
PENNYMAC LOAN SERVICES, LLC 256 2.42% $5,519
CALIBER HOME LOANS, INC. 252 2.59% $4,943
USAA Federal Savings Bank 236 2.86% $5,232
UNITED WHOLESALE MORTGAGE, LLC 228 2.58% $6,203
CROSSCOUNTRY MORTGAGE, LLC 178 2.85% $8,152
Mr. Cooper ( Nationstar Mortgage ) 178 2.78% $3,682
HOME POINT FINANCIAL CORPORATION 176 2.51% $4,753
Barrington Bank & Trust Company, N.A. 171 2.67% $5,238
CLEARPATH LENDING 144 2.28% $4,550
FIRST CENTENNIAL MORTGAGE CORPORATION 144 2.62% $5,465
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 136 2.95% $7,012
Wells Fargo Bank 134 2.48% $4,555
LAKEVIEW LOAN SERVICING, LLC 131 2.50% $2,783
VILLAGE CAPITAL & INVESTMENT LLC 122 2.37% $3,520
NEWREZ LLC 114 2.71% $4,033
COMPASS MORTGAGE, INC. 112 2.72% $6,067
AMERICAN PACIFIC MORTGAGE CORPORATION 104 3.05% $7,846
MUTUAL OF OMAHA MORTGAGE, INC. 80 2.72% $5,693
DRAPER AND KRAMER MORTGAGE CORP. 76 2.64% $4,823
Carrington Mortgage Services, LLC 75 2.92% $5,664
Key Mortgage Services, Inc. 68 2.89% $9,303
Neighborhood Loans, Inc. 63 2.89% $7,938
GUARANTEED RATE AFFINITY, LLC 56 2.72% $7,527
Lakeview Community Capital, LLC 56 2.51% $2,446
AMERICAN PORTFOLIO MORTGAGE CORPORATION 54 2.70% $5,613
NEW DAY FINANCIAL, LLC 46 2.77% $7,176
AMERICAN FINANCIAL NETWORK, INC. 45 2.61% $9,530
Flagstar Bank, FSB 41 2.83% $5,293
PENTAGON FEDERAL CREDIT UNION 40 2.34% $2,033
First Guaranty Mortgage Corporation 40 2.55% $3,694
AMERISAVE MORTGAGE CORPORATION 39 2.64% $6,324
HOMESIDE FINANCIAL, LLC 38 3.11% $8,166
LEADERONE FINANCIAL CORPORATION 37 2.93% $6,339
PLANET HOME LENDING, LLC 37 2.58% $5,219
UNION HOME MORTGAGE CORP. 36 2.65% $6,972
InterContinental Capital Group, Inc 35 2.36% $3,420
Low VA Rates, LLC 35 2.47% $4,435
U.S. Bank 35 2.80% $6,090
EAGLE HOME MORTGAGE, LLC 35 2.91% $4,215
The Huntington National Bank 33 2.77% $6,301
BLUELEAF LENDING, LLC 33 2.50% $3,422
DHI MORTGAGE COMPANY, LTD. 32 2.79% $4,224
HOMEBRIDGE FINANCIAL SERVICES, INC. 31 2.76% $7,358
BROKER SOLUTIONS, INC. 31 2.68% $6,126
PLAZA HOME MORTGAGE, INC. 29 2.86% $4,314
CELEBRITY HOME LOANS, LLC 27 2.95% $5,887
Magnolia Bank 27 2.50% $8,948
CMG MORTGAGE, INC. 25 2.87% $8,626
NP, Inc. 24 2.31% $3,945
ACCELERATE MORTGAGE, LLC 23 2.30% $6,059
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 3.03% $7,438
Mid-Continent Funding, Inc. 22 2.83% $6,435
BAY EQUITY LLC 22 2.87% $6,221
NBKC BANK 22 2.45% $5,747
DAS Acquisition Company, LLC 21 2.86% $4,830
NVR Mortgage Finance, Inc. 20 2.87% $4,223
FINANCE OF AMERICA MORTGAGE LLC 20 2.77% $6,257
North American Savings Bank, F.S.B. 20 2.36% $5,067
Pacor Mortgage Corp 19 2.64% $9,754
STEARNS LENDING, LLC 18 2.67% $6,481
CHERRY CREEK MORTGAGE, LLC 18 3.33% $4,675
SUN WEST MORTGAGE COMPANY, INC. 18 2.54% $4,935
MID AMERICA MORTGAGE, INC. 18 2.78% $4,670
Hometown Lenders, Inc. 17 3.05% $10,389
PNC Bank 16 2.75% $4,016
First Federal Bank 16 3.12% $7,016
M/I FINANCIAL, LLC 15 2.85% $7,557
Paramount Residential Mortgage Group, Inc. 15 2.92% $7,843
JPMorgan Chase Bank 15 2.99% $6,629
FIRST STATE MORTGAGE SERVICES, LLC 15 2.50% $5,200
First Midwest Bank 14 2.92% $5,366
The Home Loan Expert LLC 14 2.71% $7,410
MOVEMENT MORTGAGE, LLC 14 2.84% $8,463
First National Bank of Omaha 13 2.83% $3,318
SOVEREIGN LENDING GROUP INCORPORATED 13 2.49% $7,863
CIBM Bank 13 2.91% $4,938
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 2.76% $6,537
Prosperity Home Mortgage, LLC 12 2.67% $7,994
Fifth Third Bank 12 2.92% $5,469
TJC Mortgage, Inc. 12 2.25% $5,441
OCMBC, INC. 12 3.13% $5,626
INLAND BANK & TRUST 11 2.91% $5,535
Equity Prime Mortgage LLC 11 3.63% $6,666
Old Second National Bank 11 2.77% $6,101
Midwest Community Bank 10 2.53% $6,064
INLANTA MORTGAGE, INC. 10 2.99% $5,378
PROPER RATE, LLC 9 2.69% $7,322
SUCCESS MORTGAGE PARTNERS, INC. 9 2.94% $8,772
PARLAY MORTGAGE & PROPERTY, INC. 9 2.78% $3,503
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 9 2.82% $5,269
UNITED HOME LOANS, INC. 9 2.63% $7,071
PULTE MORTGAGE LLC 9 2.92% $10,103
Manufacturers and Traders Trust Company 8 2.56% $3,998
Wyndham Capital Mortgage, Inc. 8 2.30% $2,959
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 3.31% $6,686
Allied First Bank,sb 8 2.59% $4,533
Ixonia Bank 7 2.91% $4,324
Network Funding, L.P. 7 2.80% $12,821
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 2.89% $10,714
United Fidelity Funding Corp. 6 2.94% $15,309
Strong Home Mortgage, LLC 6 2.33% $3,377
Flanagan State Bank 6 2.58% $3,882
SUMMIT FUNDING, INC. 6 2.93% $7,048
BNC National Bank 6 2.33% $4,430
Nations Lending Corporation 6 3.02% $8,055
THE ANDERSON FINANCIAL GROUP, INC. 6 2.75% $4,133
KS StateBank 6 2.38% $9,537
AmRes Corporation 5 2.88% $6,737
DIRECT MORTGAGE LOANS, LLC 5 3.53% $17,544
HOMESTEAD FUNDING CORP. 5 2.48% $5,884
Plains Commerce Bank 5 2.60% $5,452
Paramount Bank 5 2.55% $9,016
Mutual Federal Bank 5 3.15% $7,502
Bank of England 5 3.08% $4,194
Waterstone Mortgage Corporation 5 3.08% $11,691
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 5 3.20% $8,452
PHH Mortgage Corporation 5 3.03% $3,731
The Central Trust Bank 5 2.25% $5,703
Meridian Bank Corporation 5 2.38% $6,137
TOWNE MORTGAGE COMPANY 5 2.83% $6,746
ZILLOW HOME LOANS, LLC 4 2.72% $5,092
Capital Bank 4 2.41% $2,153
GUILD MORTGAGE COMPANY 4 2.91% $3,160
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 3.19% $6,988
NATIONS DIRECT MORTGAGE, LLC 4 2.91% $5,135
NETWORK CAPITAL FUNDING CORPORATION 4 2.56% $5,609
TCF National Bank 4 2.66% $4,263
VAN DYK MORTGAGE CORPORATION 3 3.42% $4,484
Armed Forces Bank 3 3.25% $2,849
ENVOY MORTGAGE, LTD 3 3.13% $12,448
First Savings Bank 3 2.25% $5,680
Northpointe Bank 3 2.29% $3,919
LIBERTY HOME MORTGAGE CORPORATION 3 2.63% $8,193
EVERETT FINANCIAL, INC. 3 3.08% $6,359
Bank of America 3 2.63% $7,524
Blue Ridge Bank 3 2.42% $2,809
Century Mortgage Company DBA Century Lending Company 3 2.67% $5,678
MYCUMORTGAGE, LLC 3 2.92% $3,690
CHURCHILL MORTGAGE CORPORATION 3 2.79% $4,702
Servion, Inc. 3 2.79% $9,398
NATIONS RELIABLE LENDING, LLC 3 3.25% $8,263
GMFS LLC 3 2.67% $8,466
Regions Bank 3 2.54% $8,117
Colten Mortgage, LLC 3 3.00% $4,372
PREMIA MORTGAGE, LLC 3 2.79% $9,432
Credence Funding Corporation 3 2.38% $3,470
LENDING 3, INC. 3 2.92% $9,091
BEST CAPITAL FUNDING 2 2.88% $5,575
MORTGAGE ACCESS CORP. 2 2.75% $8,260
INTERCAP LENDING INC. 2 2.56% $3,073
Gateway First Bank 2 2.81% $6,803
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 Federal Bank of Kansas City 2 2.25% $3,040
ENDEAVOR CAPITAL, LLC. 2 2.56% $2,399
DELMAR FINANCIAL COMPANY 2 3.06% $14,259
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 2.69% $4,364
Community First National Bank 2 2.63% $4,068
CITYWIDE HOME LOANS, LLC 2 3.50% $2,991
Citizens Bank 2 2.75% $2,615
RELIANCE FIRST CAPITAL, LLC 2 2.88% $5,448
ROYAL UNITED MORTGAGE LLC 2 2.94% $16,227
Citibank 2 2.81% $7,803
CIBC Bank USA 2 3.06% $7,864
Sunflower Bank 2 2.69% $11,057
T2 FINANCIAL LLC 2 3.00% $11,490
LAKE MICHIGAN CREDIT UNION 2 2.56% $6,704
UNITED MORTGAGE CORP. 2 3.25% $6,563
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 2 2.63% $5,753
V.I.P. MORTGAGE, INC. 2 3.00% $14,779
LENDUS, LLC 2 2.63% $12,870
LAND HOME FINANCIAL SERVICES, INC. 2 2.69% $12,670
COMMUNITYAMERICA 1 2.50% $3,960
GERSHMAN INVESTMENT CORP. 1 2.75% $15,392
UNITED SECURITY FINANCIAL CORP 1 2.25% $4,229
AMERIFIRST FINANCIAL CORPORATION 1 2.75% $13,586
Red River Bank 1 2.38% $3,169
NBH Bank 1 2.50% $156
MLD MORTGAGE INC. 1 2.63% $3,888
RESIDENTIAL BANCORP. 1 2.75% $4,869
AMERICAN HOME LENDING USA, LLC 1 2.99% $9,687
RUOFF MORTGAGE COMPANY, INC. 1 3.25% $9,286
GSF Mortgage Corporation 1 2.25% $2,939
SIWELL, INC. 1 2.75% $5,095
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.50% $2,618
STARBOARD FINANCIAL MANAGEMENT, LLC 1 2.88% $9,382
JAMES B. NUTTER & COMPANY 1 3.13% $1,203
STOCKTON MORTGAGE CORPORATION 1 2.75% $9,401
West Town Bank & Trust 1 2.75% $16,788
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $5,947
CANOPY MORTGAGE, LLC 1 2.50% $17,208
AMERICAN FINANCING CORPORATION 1 2.75% $12,118
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.63% $8,520
KELLER MORTGAGE, LLC 1 2.75% $16,249
TBI MORTGAGE COMPANY 1 2.38% $2,570
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $2,510
Texana Bank 1 2.75% $8,265
Blackhawk Bank 1 2.63% $12,097
Watermark Capital, Inc. 1 2.50% $2,860
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $1,997
Hometown Equity Mortgage, LLC 1 3.13% $3,096
Associated Bank 1 2.88% $7,761
ACCESS CAPITAL FUNDING, L.L.C. 1 3.50% $4,980
AMERITRUST MORTGAGE CORPORATION 1 2.50% $3,734
OCEANSIDE MORTGAGE COMPANY 1 2.25% $888
First Home Bank 1 2.25% $5,955
Truist Bank 1 2.75% $420
Financial Funding Solutions, Inc. 1 3.25% $1,461
FEDEX EMPLOYEES CREDIT ASSOCIATION 1 3.00% $14,190
FCB Banks 1 2.50% $3,246
FBC MORTGAGE, LLC 1 2.25% $5,503
FAMILY FINANCE MORTGAGE, LLC 1 2.63% $3,039
First Internet Bank of Indiana 1 3.25% $4,199
NexBank 1 2.50% $4,665
Ameris Bank 1 2.50% $2,542
EMM LOANS LLC 1 2.25% $20,054
Platinum Home Mortgage Corporation 1 3.25% $15,008
AmeriHome Mortgage Company, LLC 1 2.88% $3,315
ACADEMY MORTGAGE CORPORATION 1 3.25% $8,078
GENEVA FINANCIAL, LLC 1 3.50% $12,522
Amerifirst Financial, Inc. 1 3.25% $3,837
Prime Choice Funding Inc. 1 2.25% $1,746
AMCAP MORTGAGE, LTD. 1 2.25% $16,414

The top Chicago VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,172 VA loans originated. Their average total fees are $6,234, which is $1,095 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 ($2,033), Lakeview Community Capital, LLC ($2,446), LAKEVIEW LOAN SERVICING, LLC ($2,783), First National Bank of Omaha ($3,318) and FREEDOM MORTGAGE CORPORATION ($3,324).

The lowest rate Chicago VA lenders (with over 10 loans originated) are TJC Mortgage, Inc. (2.25%), CLEARPATH LENDING (2.28%), ACCELERATE MORTGAGE, LLC (2.30%), NP, Inc. (2.31%) and PENTAGON FEDERAL CREDIT UNION (2.34%).


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 $288,950 (6.8%) $452,003 (5.0%) 1.06 27,410
2018-02-01 $304,500 (6.5%) $470,283 (4.1%) 1.10 27,874
2018-03-01 $325,000 (8.5%) $489,585 (5.5%) 1.12 29,483
2018-04-01 $335,000 (8.1%) $494,077 (4.4%) 1.12 31,497
2018-05-01 $336,250 (5.2%) $491,926 (3.4%) 1.12 33,604
2018-06-01 $334,900 (4.7%) $483,070 (2.0%) 1.12 36,277
2018-07-01 $327,250 (3.9%) $472,829 (1.4%) 1.09 38,396
2018-08-01 $319,950 (4.9%) $460,744 (1.1%) 1.07 39,499
2018-09-01 $317,900 (6.0%) $454,842 (0.4%) 1.06 40,189
2018-10-01 $312,000 (4.0%) $449,152 (-0.7%) 1.04 39,937
2018-11-01 $302,000 (1.7%) $446,276 (-0.6%) 1.01 37,571
2018-12-01 $297,000 (2.8%) $437,462 (-1.2%) 1.02 32,888
2019-01-01 $297,788 (3.1%) $442,555 (-2.1%) 1.03 30,040
2019-02-01 $312,400 (2.6%) $462,775 (-1.6%) 1.05 30,361
2019-03-01 $327,957 (0.9%) $476,932 (-2.6%) 1.07 32,150
2019-04-01 $339,900 (1.5%) $485,549 (-1.7%) 1.07 34,125
2019-05-01 $339,900 (1.1%) $482,555 (-1.9%) 1.05 36,370
2019-06-01 $339,000 (1.2%) $477,893 (-1.1%) 1.04 38,444
2019-07-01 $332,450 (1.6%) $470,215 (-0.6%) 1.03 39,922
2019-08-01 $326,315 (2.0%) $460,792 (0.0%) 1.03 40,311
2019-09-01 $320,718 (0.9%) $453,105 (-0.4%) 1.02 40,478
2019-10-01 $319,000 (2.2%) $454,656 (1.2%) 1.02 40,147
2019-11-01 $309,900 (2.6%) $448,844 (0.6%) 1.00 36,884
2019-12-01 $299,900 (1.0%) $444,177 (1.5%) 1.00 31,631
2020-01-01 $299,900 (0.7%) $445,683 (0.7%) 1.00 28,727
2020-02-01 $319,900 (2.4%) $466,900 (0.9%) 1.03 29,189
2020-03-01 $328,950 (0.3%) $475,504 (-0.3%) 1.03 29,677
2020-04-01 $324,950 (-4.4%) $464,610 (-4.3%) 1.01 28,345
2020-05-01 $329,900 (-2.9%) $477,698 (-1.0%) 1.00 28,171
2020-06-01 $339,900 (0.3%) $490,505 (2.6%) 0.99 28,064
2020-07-01 $348,450 (4.8%) $499,130 (6.2%) 1.00 27,100
2020-08-01 $349,000 (7.0%) $501,220 (8.8%) 1.00 26,680
2020-09-01 $349,450 (9.0%) $504,956 (11.4%) 1.00 26,967
2020-10-01 $344,900 (8.1%) $500,068 (10.0%) 0.99 27,016
2020-11-01 $335,400 (8.2%) $496,618 (10.6%) 0.96 24,642
2020-12-01 $326,340 (8.8%) $493,986 (11.2%) 0.96 20,938
2021-01-01 $329,500 (9.9%) $505,908 (13.5%) 0.97 17,962
2021-02-01 $342,995 (7.2%) $545,150 (16.8%) 0.99 15,887
2021-03-01 $349,900 (6.4%) $552,641 (16.2%) 0.98 15,400
2021-04-01 $350,000 (7.7%) $553,431 (19.1%) 0.94 16,064
2021-05-01 $355,000 (7.6%) $551,761 (15.5%) 0.93 16,868
2021-06-01 $355,000 (4.4%) $538,278 (9.7%) 0.92 19,112
2021-07-01 $349,900 (0.4%) $521,444 (4.5%) 0.91 21,041
2021-08-01 $341,214 (-2.2%) $499,769 (-0.3%) 0.90 22,155
2021-09-01 $332,450 (-4.9%) $490,671 (-2.8%) 0.87 22,176
2021-10-01 $329,900 (-4.4%) $487,370 (-2.5%) 0.87 21,533
2021-11-01 $322,445 (-3.9%) $484,174 (-2.5%) 0.85 18,752
2021-12-01 $312,500 (-4.2%) $478,375 (-3.2%) 0.83 15,437
2022-01-01 $314,900 (-4.4%) $494,700 (-2.2%) 0.84 12,585
Chicago's median listing price for 2022-01-01 was $314,900, a difference of $-14,600 (-4.4%) versus the prior year and $2,400 versus the prior month.

Chicago's median listing price comes in at 84% of the national average.

Chicago's average listing price for 2022-01-01 was $494,700, a difference of $-11,208 (-2.2%) versus the prior year and $16,325 versus the prior month.

For the 2022-01-01 period, Chicago had 12,585 MLS listings, a difference of -2,852 listings (-18%) versus the prior month and -5,377 listings (-30%) 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 1,918 sqft
2018-02-01 56 days 1,980 sqft
2018-03-01 43 days 2,008 sqft
2018-04-01 41 days 2,044 sqft
2018-05-01 41 days 2,048 sqft
2018-06-01 42 days 2,039 sqft
2018-07-01 44 days 2,007 sqft
2018-08-01 47 days 2,000 sqft
2018-09-01 49 days 1,988 sqft
2018-10-01 51 days 1,948 sqft
2018-11-01 56 days 1,922 sqft
2018-12-01 68 days 1,880 sqft
2019-01-01 73 days 1,880 sqft
2019-02-01 56 days 1,921 sqft
2019-03-01 43 days 1,974 sqft
2019-04-01 39 days 2,003 sqft
2019-05-01 41 days 2,022 sqft
2019-06-01 43 days 2,015 sqft
2019-07-01 44 days 2,001 sqft
2019-08-01 47 days 1,981 sqft
2019-09-01 49 days 1,949 sqft
2019-10-01 49 days 1,952 sqft
2019-11-01 56 days 1,922 sqft
2019-12-01 68 days 1,900 sqft
2020-01-01 73 days 1,887 sqft
2020-02-01 45 days 1,938 sqft
2020-03-01 43 days 1,981 sqft
2020-04-01 52 days 1,952 sqft
2020-05-01 60 days 1,985 sqft
2020-06-01 46 days 1,971 sqft
2020-07-01 42 days 1,936 sqft
2020-08-01 42 days 1,900 sqft
2020-09-01 42 days 1,833 sqft
2020-10-01 43 days 1,800 sqft
2020-11-01 50 days 1,753 sqft
2020-12-01 59 days 1,718 sqft
2021-01-01 64 days 1,700 sqft
2021-02-01 47 days 1,698 sqft
2021-03-01 43 days 1,694 sqft
2021-04-01 36 days 1,700 sqft
2021-05-01 36 days 1,726 sqft
2021-06-01 33 days 1,748 sqft
2021-07-01 36 days 1,745 sqft
2021-08-01 36 days 1,717 sqft
2021-09-01 38 days 1,700 sqft
2021-10-01 41 days 1,680 sqft
2021-11-01 45 days 1,649 sqft
2021-12-01 54 days 1,615 sqft
2022-01-01 60 days 1,600 sqft
Chicago's median listing age (time on market) for 2022-01-01 was 60 days. This is -6% shorter than the same period one year ago.

Chicago's median square footage for active listings during the 2022-01-01 period was 1,600 sqft. One year prior, the average listing was 1,700 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.