Illinois USDA Loan Rates, Closing Costs & Stats

Illinois

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    • 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%).