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%).