Illinois USDA Loan Rates, Closing Costs & Stats

Illinois

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Illinois USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Illinois averaged -0.2% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

Illinois's average USDA mortgage closing costs are $3,595.

The average rate for the prior week (2023-11-17) was 6.89% and one month ago for the week of 2023-10-20, the average rate was 7.21%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.52%.

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

Illinois USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Illinois level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 155 5.33% $3,855
Community Mortgage Banc Corporation 81 5.32% $3,620
Peoples National Bank , N.A. 70 4.88% $3,842
GUARANTEED RATE, INC. 61 5.42% $5,134
First Mid Bank & Trust 59 4.36% $3,298
Petefish, Skiles & Co. 56 5.16% $3,022
Flanagan State Bank 50 4.97% $5,108
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 46 5.03% $4,659
United Community Bank 46 4.94% $2,780
GERSHMAN INVESTMENT CORP. 43 4.94% $4,417
BROKER SOLUTIONS, INC. 39 5.42% $5,794
CROSSCOUNTRY MORTGAGE, LLC 36 5.30% $5,668
FIRST STATE MORTGAGE SERVICES, LLC 36 4.74% $3,878
CALIBER HOME LOANS, INC. 31 4.73% $4,215
Midland States Bank 28 4.83% $4,285
Town & Country Banc Mortgage Services 24 5.22% $4,321
GUILD MORTGAGE COMPANY 22 5.15% $3,946
Regions Bank 20 5.59% $3,289
Ixonia Bank 19 5.18% $4,125
DAS Acquisition Company, LLC 18 5.40% $5,122
Flagstar Bank, FSB 18 4.98% $4,021
TOP FLITE FINANCIAL, INC. 17 4.97% $5,334
Wells Fargo Bank 17 4.98% $3,181
U.S. Bank 17 4.59% $3,507
SENB Bank 16 4.43% $3,242
ENDEAVOR CAPITAL, LLC. 16 4.96% $4,943
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 15 5.49% $3,892
Hometown Lenders, Inc. 15 5.39% $4,778
DELMAR FINANCIAL COMPANY 15 5.31% $4,756
PENNYMAC LOAN SERVICES, LLC 14 3.24% $4,618
RUOFF MORTGAGE COMPANY, INC. 14 5.29% $2,632
Bankers' Bank 14 5.07% $3,719
FCB Banks 14 4.26% $3,643
CNB Bank And Trust, N.A. 12 5.86% $2,813
Bank of England 12 4.82% $5,883
Dieterich Bank 12 5.14% $3,372
First Bankers Trust Company 11 5.59% $3,630
HOME POINT FINANCIAL CORPORATION 10 4.72% $5,894
PLAZA HOME MORTGAGE, INC. 10 4.65% $5,451
Plains Commerce Bank 10 5.14% $4,284
INB 10 4.49% $3,390
Fortress Bank 10 5.56% $3,023
CITIZENS EQUITY FIRST 10 4.61% $1,757
Carrollton Bank 10 4.66% $3,923
UNITED WHOLESALE MORTGAGE, LLC 9 5.61% $3,775
Bank of Pontiac 8 5.16% $3,993
The First National Bank of Ottawa 8 5.09% $4,664
LEADERONE FINANCIAL CORPORATION 7 5.27% $4,203
CMG MORTGAGE, INC. 7 3.48% $3,920
FIRST CENTENNIAL MORTGAGE CORPORATION 7 5.21% $5,603
Heartland Bank and Trust Company 6 5.31% $3,492
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 5.29% $4,002
RUHL MORTGAGE, LLC 6 3.52% $3,388
Busey Bank 6 5.00% $3,468
OPEN MORTGAGE, LLC 5 4.75% $5,546
FINANCE OF AMERICA MORTGAGE LLC 5 4.33% $4,803
AMERICAN PACIFIC MORTGAGE CORPORATION 5 4.60% $5,396
Paramount Residential Mortgage Group, Inc. 5 4.65% $4,929
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.08% $5,138
INLAND BANK & TRUST 5 4.98% $4,868
FRONTIER FINANCIAL, INC. 5 4.83% $4,321
Mortgage Research Center, LLC 5 6.70% $2,971
COMPASS MORTGAGE, INC. 5 4.38% $5,177
Grundy Bank 5 4.30% $4,967
Carrington Mortgage Services, LLC 5 4.58% $4,700
Marine Bank 5 4.55% $3,250
HOMESIDE FINANCIAL, LLC 5 5.13% $4,919
AMERICAN HOME LENDING USA, LLC 5 5.55% $5,115
DRAPER AND KRAMER MORTGAGE CORP. 4 4.50% $5,131
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 5.72% $6,148
FAIR WAY LENDING LLC 4 5.22% $6,102
First Option Mortgage, LLC 4 5.16% $5,231
Waterstone Mortgage Corporation 4 4.88% $6,998
BNC National Bank 4 5.06% $3,747
LOANDEPOT.COM, LLC 4 4.50% $5,115
First Financial Bank 4 4.94% $5,057
Fifth Third Bank 3 4.42% $3,671
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 4.50% $4,226
CARDINAL FINANCIAL 3 5.29% $8,441
CHURCHILL MORTGAGE CORPORATION 3 4.04% $4,537
Longview Bank & Trust 3 4.42% $5,393
PNC Bank 3 4.79% $3,498
NEWREZ LLC 2 6.19% $4,145
Barrington Bank & Trust Company, N.A. 2 4.13% $5,675
Old National Bank 2 5.00% $4,792
FirstTrust Home Loans, Inc. 2 6.44% $4,339
ROYAL UNITED MORTGAGE LLC 2 5.19% $5,942
PLANET HOME LENDING, LLC 2 6.06% $5,430
Chickasaw Community Bank 2 5.44% $3,112
Equity Prime Mortgage LLC 2 4.50% $4,114
First National Bank of Omaha 2 5.56% $5,587
Meridian Bank Corporation 2 5.25% $6,651
SUCCESS MORTGAGE PARTNERS, INC. 2 6.38% $5,501
The Central Trust Bank 2 4.50% $3,914
1ST MIDAMERICA 1 5.63% $3,764
EVERETT FINANCIAL, INC. 1 4.00% $2,943
EVANSVILLE TEACHERS 1 5.63% $3,542
ACADEMY MORTGAGE CORPORATION 1 4.38% $4,729
CRESCENT MORTGAGE COMPANY 1 3.25% $3,620
RAPID MORTGAGE COMPANY 1 6.13% $8,518
Commerce Bank 1 5.63% $2,602
RESIDENTIAL BANCORP 1 5.75% $6,738
Citizens Bank 1 3.75% $4,170
Century Mortgage Company DBA Century Lending Company 1 3.75% $12,143
Southern Bank 1 5.75% $3,651
Stillman Bank 1 5.25% $3,723
The First National Bank and Trust Company 1 6.25% $3,643
THOMPSON KANE & COMPANY, LLC 1 6.50% $6,379
Bank of Springfield 1 5.88% $3,767
Associated Bank 1 5.50% $2,625
Truist 1 2.38% $3,824
UNION HOME MORTGAGE CORP. 1 3.50% $4,444
ARC HOME LLC 1 6.00% $4,003
AMERIFIRST FINANCIAL CORPORATION 1 2.88% $5,392
AMERICAN FINANCING CORPORATION 1 2.88% $4,793
Hometown Equity Mortgage, LLC 1 2.75% $6,003
Home State Bank 1 5.63% $4,107
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,477
HOMESITE MORTGAGE, LLC 1 3.99% $0
American Bank and Trust Company 1 6.25% $4,715
Magnolia Bank 1 5.50% $3,436
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.13% $3,693
MIDLAND MORTGAGE CORPORATION 1 5.25% $1,396
GMFS LLC 1 4.38% $4,864
GENEVA FINANCIAL, LLC 1 5.13% $3,296
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.25% $3,610
MYCUMORTGAGE, LLC 1 3.88% $3,571
Neighborhood Loans, Inc. 1 5.75% $5,188
First Bank 1 3.25% $5,201

The top Illinois USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 155 USDA loans originated. Their average total fees are $3,855, which is $235 higher than the next largest lender, Community Mortgage Banc Corporation.

The lowest fee Illinois USDA lenders (with over 10 loans originated) are CITIZENS EQUITY FIRST ($1,757), RUOFF MORTGAGE COMPANY, INC. ($2,632), United Community Bank ($2,780), CNB Bank And Trust, N.A. ($2,813) and Petefish, Skiles & Co. ($3,022).

The lowest rate Illinois USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.24%), FCB Banks (4.26%), First Mid Bank & Trust (4.36%), SENB Bank (4.43%) and INB (4.49%).