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 6.55% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Illinois's average USDA mortgage closing costs are $3,669.

The average rate for the prior week (2024-04-05) was 6.77% and one month ago for the week of 2024-03-08, the average rate was 6.63%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.99%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Community Mortgage Banc Corporation 82 6.78% $3,700
FLAT BRANCH MORTGAGE, INC. 81 7.05% $4,421
Petefish, Skiles & Co. 57 6.85% $3,251
BROKER SOLUTIONS, INC. 41 6.92% $5,002
GUARANTEED RATE, INC. 37 6.63% $5,192
Peoples National Bank , N.A. 36 6.25% $3,729
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 35 7.02% $5,501
FIRST STATE MORTGAGE SERVICES, LLC 32 6.72% $4,104
GUILD MORTGAGE COMPANY 31 6.71% $5,104
Flanagan State Bank 28 6.88% $5,077
CROSSCOUNTRY MORTGAGE, LLC 27 7.05% $5,385
Flagstar Bank, FSB 25 6.79% $4,404
United Community Bank 24 6.76% $3,018
First Mid Bank & Trust 22 6.63% $3,697
GERSHMAN INVESTMENT CORP. 21 6.92% $4,256
DAS Acquisition Company, LLC 20 6.89% $4,693
Heartland Bank and Trust Company 15 6.68% $4,777
Midland States Bank 13 6.88% $4,954
NEWREZ LLC 12 6.83% $5,348
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 11 7.36% $4,950
Carrollton Bank 11 6.49% $3,996
Regions Bank 11 6.91% $4,329
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.71% $5,655
UNITED WHOLESALE MORTGAGE, LLC 10 6.49% $4,863
CNB Bank And Trust, N.A. 10 7.39% $2,661
ON Q FINANCIAL, INC. 8 6.83% $5,487
FIRST CENTENNIAL MORTGAGE CORPORATION 8 6.61% $4,806
FirstTrust Home Loans, Inc. 8 6.91% $4,787
RUOFF MORTGAGE COMPANY, INC. 7 7.11% $2,169
CALIBER HOME LOANS, INC. 6 6.29% $5,599
LOANDEPOT.COM, LLC 6 7.02% $7,129
Bank of England 6 6.23% $6,113
Mortgage Research Center, LLC 6 6.63% $3,641
Busey Bank 6 6.06% $4,728
U.S. Bank 6 6.58% $3,996
THOMPSON KANE & COMPANY, LLC 6 6.81% $4,024
First Bankers Trust Company 6 6.96% $3,335
Dieterich Bank 5 7.03% $3,196
PLAZA HOME MORTGAGE, INC. 5 6.05% $6,464
CARDINAL FINANCIAL 5 5.95% $7,295
TOP FLITE FINANCIAL, INC. 4 7.09% $6,124
LEADERONE FINANCIAL CORPORATION 4 6.59% $5,812
Fortress Bank 4 6.22% $3,874
COMPASS MORTGAGE, INC. 4 6.97% $6,147
SUCCESS MORTGAGE PARTNERS, INC. 4 7.00% $6,212
DELMAR FINANCIAL COMPANY 4 6.94% $3,640
Plains Commerce Bank 3 7.00% $4,284
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.88% $5,388
UNION HOME MORTGAGE CORP. 3 6.67% $5,445
Bank of Pontiac 3 7.50% $3,911
ROYAL UNITED MORTGAGE LLC 3 6.96% $7,482
Wells Fargo Bank 3 6.17% $3,527
FCB Banks 3 6.33% $4,880
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 7.25% $5,118
INB 3 6.38% $3,615
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.58% $6,817
PNC Bank 3 6.46% $4,033
PLANET HOME LENDING, LLC 3 6.21% $5,319
The First National Bank of Ottawa 3 7.25% $4,680
Citizens Bank 3 6.50% $4,710
Nations Lending Corporation 2 7.19% $3,123
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 6.56% $4,971
AXIA FINANCIAL, LLC 2 6.88% $8,003
Bankers' Bank 2 7.19% $4,611
FAIR WAY LENDING LLC 2 7.06% $7,964
Fifth Third Bank 2 6.00% $3,701
Grundy Bank 2 7.00% $5,601
HOMESIDE FINANCIAL, LLC 2 5.99% $4,606
Ixonia Bank 2 7.31% $7,663
Marine Bank 2 5.94% $3,626
OPEN MORTGAGE, LLC 2 6.75% $7,060
Paramount Residential Mortgage Group, Inc. 2 6.81% $3,533
PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.50% $4,900
The Federal Savings Bank 2 6.69% $6,469
Network Funding, L.P. 1 6.50% $5,673
MOVEMENT MORTGAGE, LLC 1 5.63% $12,395
NVR Mortgage Finance, Inc. 1 5.13% $12,994
Old National Bank 1 7.00% $3,545
Old Second National Bank 1 5.63% $4,945
Mortgage Assurance Inc. 1 6.75% $4,619
AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $5,168
Paramount Bank 1 7.25% $3,181
VAN DYK MORTGAGE CORPORATION 1 7.38% $1,453
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.75% $4,669
GUARANTY HOME MORTGAGE CORPORATION 1 7.25% $3,958
Pinnacle Bank 1 5.25% $4,691
GREENSTATE CREDIT UNION 1 5.63% $3,322
First National Bank of Omaha 1 6.13% $7,264
First Financial Bank 1 7.25% $3,414
First Federal Savings Bank 1 6.75% $9,473
VILLAGE CAPITAL MORTGAGE 1 6.50% $8,517
FirstBank 1 6.13% $4,578
First Bank 1 7.63% $3,937
ROSS MORTGAGE CORPORATION 1 6.88% $5,512
Financial Funding Solutions, Inc. 1 6.50% $4,987
RUHL MORTGAGE, LLC 1 5.63% $3,423
EVERETT FINANCIAL, INC. 1 7.50% $1,641
STOCKTON MORTGAGE CORPORATION 1 6.75% $4,733
EVANSVILLE TEACHERS 1 6.50% $3,418
SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $4,579
AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $4,618
The First National Bank and Trust Company 1 7.75% $3,385
Equity Prime Mortgage LLC 1 7.25% $4,594
ENDEAVOR CAPITAL, LLC. 1 6.00% $5,514
CRESCENT MORTGAGE COMPANY 1 6.63% $4,156
CHURCHILL MORTGAGE CORPORATION 1 6.13% $5,434
Century Mortgage Company DBA Century Lending Company 1 7.25% $8,297
Bank of Springfield 1 6.13% $4,041
University Bank 1 7.63% $5,024
UNIVERSITY OF ILLINOIS COMMUNITY 1 6.00% $3,330
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $5,475
1ST MIDAMERICA 1 6.00% $2,995
NATIONS RELIABLE LENDING, LLC 1 7.50% $7,153
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $6,481

The top Illinois USDA lender as defined by loan originations is Community Mortgage Banc Corporation, with 82 USDA loans originated. Their average total fees are $3,700, which is $721 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Illinois USDA lenders (with over 10 loans originated) are CNB Bank And Trust, N.A. ($2,661), United Community Bank ($3,018), Petefish, Skiles & Co. ($3,251), First Mid Bank & Trust ($3,697) and Community Mortgage Banc Corporation ($3,700).

The lowest rate Illinois USDA lenders (with over 10 loans originated) are Peoples National Bank , N.A. (6.25%), Carrollton Bank (6.49%), UNITED WHOLESALE MORTGAGE, LLC (6.49%), First Mid Bank & Trust (6.63%) and GUARANTEED RATE, INC. (6.63%).