Groveland, Illinois Mortgage Rates - October 2026
Brian McKay
Brian McKay
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Groveland, Illinois mortgage rates from lenders serving Illinois range from 5.11% to 8.12%, verified by MonitorBankRates as of October 23, 2026. Current 30-year fixed mortgage rates for Groveland, Illinois borrowers from lenders serving Illinois include PNB of KewaneePNB of KewaneeB4.7 ★Texas Ratio: 19.21%Rate verified Oct 22, 2026 at 5.96%, GenFed Financial Credit UnionGenFed Financial Credit UnionA+5.0 ★Texas Ratio: 4.88%Rate verified Oct 19, 2026 at 6.24%, Town Center BankTown Center BankA5.0 ★Texas Ratio: 11.74%Rate verified Oct 22, 2026 at 6.75%, Vantage Credit UnionVantage Credit UnionA+5.0 ★Texas Ratio: 4.97%Rate verified Oct 19, 2026 at 6.75%, and Selfreliance Federal Credit UnionSelfreliance Federal Credit UnionA+5.0 ★Texas Ratio: 4.49%Rate verified Oct 23, 2026 at 6.875%. Mortgage rates as of October 23, 2026 according to verified data from MonitorBankRates.
Groveland borrowers can compare 214 mortgage rates from 50 lenders serving the Illinois area, with mortgage rates as low as 5.96% from PNB of Kewanee. Use the tabs below to compare available loan types. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Illinois borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: October 23, 2026
Compare Mortgage Rates Today in Groveland, Illinois & the Surrounding Area
Groveland 30 Year Fixed Mortgage Rates
APR as low as 6.193% as of 9/17/2026, based on a $50,000 purchase loan with minimum credit score of 750; Rate effective as of 9/22/2026
As Low As; Real Estate Loan Rates; Effective 10/1/2026
- Oct 10, 20266.24%▲ from 5.49%
- Sep 18, 20265.49%first recorded
FHA; based on maximum allowable loan to value ratio of 96.50%; Payment: $1,621.50; Last updated October 21 2026
No additional details available.
Fixed-rate mortgage; savings example based on $250,000 at 6.875% for 30 years for excellent credit; calculator estimate available
Rates as of 10/16/2026; Rates may require payment of points
No additional details available.
$200,000; Home Loans - Purchase; Payment example $1,330.77
- Oct 19, 20267.08%▼ from 7.21%
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Fixed rate; APR based on $100k loan, 0 points, 700+ credit score, 80% LTV
- Sep 18, 20267.09%▲ from 6.45%
- Sep 14, 20266.45%first recorded
Service Released; Calculate Your Payment | Projected Payment Schedule
Additional APR listed for this product: 7.16%.
- Oct 19, 20267.10%▼ from 7.35%
- Oct 2, 20267.35%▲ from 7.33%
- Oct 1, 20267.33%first recorded
Interest Rate Starting At 6.875%; APR Starting At 7.121%; $100,000 Loan Amount; $657 Payment; Discount points cost $375
- Oct 19, 20267.12%▼ from 7.24%
- Oct 14, 20267.24%▲ from 7.13%
- Sep 18, 20267.13%first recorded
Secondary Market Fixed Rates; 1.00 Points; loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; all rates listed as Annual Percentage Rates
As Low As; Lock in peace of mind for the long haul. A 30-year mortgage means lower monthly payments and lasting security.
- Oct 14, 20267.13%▼ from 7.25%
- Oct 1, 20267.25%▲ from 7.13%
- Sep 27, 20267.13%▲ from 7.00%
- Sep 22, 20267.00%▲ from 6.88%
$100,000; Home Loans - Purchase; Payment example $665.39
- Oct 19, 20267.14%▼ from 7.21%
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
$832,750; Home Loans - Purchase; Payment example $5,610.39
- Oct 19, 20267.16%▼ from 7.21%
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Additional APR listed for this product: 7.20%.
- Oct 19, 20267.18%▼ from 7.35%
- Oct 2, 20267.35%▲ from 7.33%
- Oct 1, 20267.33%first recorded
Locally-Retained Service; Assumption: $150,000 loan, 75% LTV, 780 minimum credit score, single-family owner occupied; P&I per $1,000 not included; rates as of October 16, 2026
- Oct 20, 20267.18%▼ from 7.31%
- Oct 14, 20267.31%first recorded
$250,000; Loan amount not exceeding $250,000; Estimated Payment: $1212.69
- Oct 19, 20267.18%▼ from 7.44%
- Oct 9, 20267.44%▲ from 6.93%
- Sep 22, 20266.93%▲ from 6.81%
- Sep 14, 20266.81%first recorded
Construction loan; Principal & Interest Payment $1,549.55; Credit score 740 or higher; LTV 80% (20% down payment); Loan amount of $230,000; One-time close construction; 1-year construction phase followed by fully amortizing 30-year permanent phase; 90-day lock; Finance charges include $1,350 origination fee, $6.70 flood certification fee and $72 tax service fee; Purchase rate for sample homebuyer; Rates effective 10/19/2026 are for sample purposes only and subject to change
- Oct 20, 20267.19%▼ from 7.31%
- Sep 27, 20267.31%▲ from 7.06%
- Sep 15, 20267.06%first recorded
$300,000; Home Loans - Purchase; Payment example $2,021.16
- Oct 19, 20267.19%▼ from 7.21%
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Based on $250,000 loan and $2,000 closing cost; 80% LTV; Payment: $1,684.30; Last updated October 21 2026
As Low As; Home Loans
Mortgage; 1.00 Points; Effective Date: 10/13/2026; All rates are APR; based on loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; PMI required where LTV exceeds 80%
Rates effective as of 10/19/2026; 45-day rate lock; purchase transaction, 25% down, 780+ credit score
- Oct 20, 20267.26%▼ from 7.51%
- Oct 7, 20267.51%▲ from 7.13%
- Sep 24, 20267.13%▲ from 7.07%
- Sep 18, 20267.07%▼ from 7.13%
$100000; Rate/term refinance; rates effective as of 09/25/2026; minimum credit score 760; 75% LTV; 30-day rate lock
$832750; Rate/term refinance; rates effective as of 09/25/2026; minimum credit score 760; 75% LTV; 30-day rate lock
Estimated Payment: $1227.92
- Oct 19, 20267.31%▼ from 7.56%
- Oct 9, 20267.56%▲ from 7.06%
- Sep 14, 20267.06%first recorded
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20267.32%▲ from 7.07%
- Sep 18, 20267.07%first recorded
$300000; Rate/term refinance; rates effective as of 09/25/2026; minimum credit score 760; 75% LTV; 30-day rate lock
Rates effective as of 10/22/2026; APR* shown
Conforming (Loan Amounts of $25,000 - $832,750); Sample; APR based on estimated loan amount of $165,000; Maximum LTV 80% for detached single family, 75% for condos/townhouses
$200000; Rate/term refinance; rates effective as of 09/25/2026; minimum credit score 760; 75% LTV; 30-day rate lock
Assumes 20% down on $100,000 loan; APR may vary with credit history and loan attributes
Fixed-rate mortgage; purchase loan; rates shown are based on the no-points option; APR inclusive of discount points totaling 0.875% in the example
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.43%▲ from 7.30%
- Sep 15, 20267.30%first recorded
Conventional Fixed-Rate Mortgage; Credit score 780 or higher; LTV 80% (20% down); Loan amount $230,000; Purchase, owner occupied single family; 45-day lock; Principal & Interest Payment $1,588.55; Sample rates effective 10/19/2026
Purchase Rates; Rates Updated: 10/19/2026
- Oct 20, 20267.43%▼ from 7.69%
- Oct 1, 20267.69%▲ from 7.56%
- Sep 27, 20267.56%▲ from 7.18%
- Sep 24, 20267.18%first recorded
Purchase Rates; Rates Updated: 10/19/2026
- Oct 20, 20267.45%▼ from 7.70%
- Oct 1, 20267.70%▲ from 7.57%
- Sep 27, 20267.57%▲ from 7.45%
- Sep 24, 20267.45%first recorded
HomeReady; Purchase Price $260,000, Loan Amount $252,200, single family home, Illinois primary residence, 97% LTV, credit score 780 or higher, escrow required, 45-day rate lock, income limits apply; income cannot exceed 80% of the area median income (AMI). Rates current as of 10/19/2026 at 9:49 AM
Owner Occupied 1-4 Unit; Fixed Rate with 10-Year Amortization; Balloon/Fixed Rate up to 80% LTV; APR based on $100,000 loan, 30-year amortization, 740+ credit score, 80% LTV; effective 09/30/2026
- Oct 1, 20267.46%▲ from 7.20%
- Sep 24, 20267.20%▲ from 6.83%
- Sep 15, 20266.83%first recorded
Conventional; Purchase Price $312,500, Loan Amount $250,000, single family home, Illinois primary residence, 80% LTV, credit score 780 or higher, escrow required, 45-day rate lock. Rates current as of 10/19/2026 at 9:49 AM
Rates Effective: 10.20.26
- Sep 27, 20267.47%▲ from 7.34%
- Sep 24, 20267.34%▲ from 7.22%
- Sep 18, 20267.22%▲ from 7.09%
- Sep 15, 20267.09%first recorded
VA; Purchase price $200,000, Loan Amount $204,300, no down-payment, 680 credit score, Illinois primary residence only, single family home, fees may include 2.15% VA funding fee as required by VA, first-time use, regular military, 45-day rate lock. Rates current as of 10/19/2026 at 9:49 AM
Additional APR listed for this product: 7.494%.
- Oct 22, 20267.49%▼ from 7.49%
- Oct 20, 20267.49%first recorded
Purchase rates stated as low as; rates reflect a 45-day lock period; refinances locked for 60 days
As Low As; Fixed Rate Mortgage
- Oct 9, 20267.54%▲ from 7.16%
- Sep 29, 20267.16%▲ from 6.77%
- Sep 14, 20266.77%first recorded
Rates effective as of 10/19/2026
- Oct 14, 20267.55%▼ from 7.68%
- Oct 1, 20267.68%▲ from 7.55%
- Sep 27, 20267.55%▲ from 7.30%
- Sep 18, 20267.30%first recorded
Refinance; advertised rates effective as of 10/19/2026
APR equals Annual Percentage Rate; rates subject to change without notice
Groveland 15 Year Fixed Mortgage Rates
Payments/$1K financed: $8.17; Based on $200,000 purchase price, 20% down, $160,000 loan amount
APR column only; Land Loan table
No additional details available.
APR as low as 6.286% as of 9/17/2026, based on a $50,000 purchase loan with minimum credit score of 750; Rate effective as of 9/22/2026
As Low As; Get peace of mind with predictable monthly payments. Both traditional and short-term options available.
- Oct 19, 20266.38%▼ from 6.50%
- Sep 27, 20266.50%▲ from 6.25%
- Sep 18, 20266.25%▲ from 6.13%
- Sep 14, 20266.13%first recorded
As Low As; Conventional Mortgages - 5% Down; based on $175,000 loan
As Low As; Conventional Mortgages - 5% Down
Based on $250,000 loan and $2,000 closing cost; 80% LTV; Payment: $2160.63; Last updated October 21 2026
No additional details available.
Interest Rate Starting At 6.250%; APR Starting At 6.547%; $100,000 Loan Amount; $857 Payment; Discount points cost $1000
- Oct 19, 20266.55%▼ from 6.74%
- Oct 14, 20266.74%first recorded
Locally-Retained Service; Assumption: $150,000 loan, 75% LTV, 780 minimum credit score, single-family owner occupied; P&I per $1,000 not included; rates as of October 16, 2026
- Oct 20, 20266.55%▼ from 6.68%
- Oct 14, 20266.68%first recorded
Fixed rate; APR based on $100k loan, 0 points, 700+ credit score, 80% LTV
- Sep 18, 20266.59%▲ from 5.96%
- Sep 14, 20265.96%first recorded
Service Released; Calculate Your Payment | Projected Payment Schedule
Owner Occupied 1-4 Unit; Fixed Rate with 10-Year Amortization; Balloon/Fixed Rate up to 80% LTV; APR based on $100,000 loan, 30-year amortization, 740+ credit score, 80% LTV; effective 09/30/2026
- Oct 1, 20266.62%▲ from 6.37%
- Sep 24, 20266.37%▲ from 6.00%
- Sep 15, 20266.00%first recorded
As Low As; Conventional Mortgages - 5% Down; based on $175,000 loan
As Low As; Conventional Mortgages - 5% Down
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20266.70%▼ from 6.83%
- Sep 27, 20266.83%first recorded
Fixed-rate mortgage; purchase loan; rates shown are based on the no-points option
Home Loans - Purchase; Payment example $1,316.99
- Oct 13, 20266.75%▼ from 7.00%
- Oct 2, 20267.00%▲ from 6.88%
- Oct 1, 20266.88%▲ from 6.50%
- Sep 14, 20266.50%first recorded
No additional details available.
- Oct 19, 20266.75%▼ from 6.88%
- Oct 9, 20266.88%▼ from 7.00%
- Oct 2, 20267.00%▲ from 6.88%
- Oct 1, 20266.88%▲ from 6.50%
Rates as of 10/16/2026; Rates may require payment of points
Purchase rates stated as low as; rates reflect a 45-day lock period; refinances locked for 60 days
Rates effective as of 10/19/2026; 45-day rate lock; purchase transaction, 25% down, 780+ credit score
- Oct 20, 20266.84%▲ from 6.59%
- Oct 14, 20266.59%▼ from 7.09%
- Oct 7, 20267.09%▲ from 6.71%
- Sep 18, 20266.71%▲ from 6.59%
Mortgage; 1.00 Points; Effective Date: 10/13/2026; All rates are APR; based on loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; PMI required where LTV exceeds 80%
Secondary Market Fixed Rates; 1.00 Points; loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; all rates listed as Annual Percentage Rates
Rate/term refinance; rates effective as of 09/25/2026; minimum credit score 760; 75% LTV; 30-day rate lock
Conforming (Loan Amounts of $25,000 - $832,750); Sample; APR based on estimated loan amount of $165,000; Maximum LTV 80% for detached single family, 75% for condos/townhouses
No additional details available.
As Low As; Homepage mortgage rate teaser; Select Check All Mortgage Rates for details
As Low As; Home Loans
Purchase Rates; Rates Updated: 10/19/2026
- Oct 20, 20266.98%▼ from 7.11%
- Oct 1, 20267.11%▲ from 6.98%
- Sep 27, 20266.98%▲ from 6.86%
- Sep 24, 20266.86%first recorded
Assumes 20% down on $100,000 loan; **Rate increases by 2.00% for credit score below 620; APR may vary with credit history and loan attributes
Rates effective as of 10/19/2026
- Oct 14, 20267.08%▼ from 7.20%
- Sep 27, 20267.20%▲ from 6.95%
- Sep 18, 20266.95%first recorded
Residential; APR based on $100,000 no cash-out refinance loan and 20% down payment for conventional loans
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.08%▲ from 6.71%
- Sep 15, 20266.71%first recorded
Conventional Fixed-Rate Mortgage; Credit score 780 or higher; LTV 80% (20% down); Loan amount $230,000; Purchase, owner occupied single family; 45-day lock; Principal & Interest Payment $2,067.31; Sample rates effective 10/19/2026
Refinance; advertised rates effective as of 10/19/2026
Estimated Payment: $1617.89
- Oct 19, 20267.09%▼ from 7.22%
- Oct 9, 20267.22%▲ from 7.09%
- Sep 22, 20267.09%▲ from 6.84%
- Sep 14, 20266.84%first recorded
Rates effective as of 10/22/2026; APR* shown
APR equals Annual Percentage Rate; rates subject to change without notice
Monthly Payment (Principal and Interest only): $1,337.78; Fixed rate; Payment does not include taxes and insurance; Rates based on a 740 credit score; APRs accurate as of 10.05.2026
Conventional; Purchase Price $312,500, Loan Amount $250,000, single family home, Illinois primary residence, 80% LTV, credit score 780 or higher, escrow required, 45-day rate lock. Rates current as of 10/19/2026 at 9:49 AM
Today's Mortgage Rates; Rates are subject to change
- Oct 1, 20267.20%▲ from 5.84%
- Sep 19, 20265.84%first recorded
Effective October 20, 2026; Qualifications Apply
- Oct 20, 20267.25%▲ from 7.12%
- Oct 20, 20267.12%▼ from 7.50%
- Oct 14, 20267.50%▲ from 7.12%
- Sep 24, 20267.12%▲ from 7.00%
Owner Occupied 1-4 Family Residence; Points Charged: No points; Minimum Down Payment: 3%; Conventional Fixed Rate Mortgages (Owner Occupied)
As Low As; Fixed Rate Mortgage
- Oct 9, 20267.46%▲ from 7.08%
- Sep 29, 20267.08%▲ from 6.57%
- Sep 14, 20266.57%first recorded
Rates based on a $150,000 mortgage, 80% loan to value, 730 credit score; $200 in loan origination fees included with APR
- Oct 19, 20267.47%▼ from 7.59%
- Oct 9, 20267.59%▲ from 7.54%
- Sep 29, 20267.54%▲ from 7.46%
- Sep 18, 20267.46%▲ from 7.08%
Rates effective as of 10/6/2026; Monthly Payment As Low As $735.94
Monthly payment based on a $100,000 mortgage and 20% down payment; APR varies based on credit history and loan features
Mortgage; 0 Points; Effective Date: 10/13/2026; All rates are APR; based on loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; PMI required where LTV exceeds 80%
Groveland 5/1 ARM Mortgage Rates
Initial APR; footnote: APR assumes 30-year term, 2/6 caps, $300,000 loan, 80% LTV, 1% origination fee
Base Rate 5.000%; Initial APR 5.114%; 30-year term, 2% annual / 6% lifetime caps
- Oct 23, 20265.11%▲ from 4.61%
- Oct 13, 20264.61%first recorded
0 Points; Loan amounts $100,000 - $149,000 with 5% down payment and credit score >= 740; All rates are listed as Annual Percentage Rates; PMI required on loans where LTV exceeds 80%; Effective Date: 10/13/2026
Adjustable Rate Mortgage
- Oct 19, 20266.25%▼ from 7.03%
- Sep 14, 20267.03%first recorded
Payment example based on $225,000 purchase price, 20% down, $180,000 loan; the APR could increase after consummation
- Oct 9, 20266.26%▲ from 5.54%
- Sep 14, 20265.54%first recorded
Purchase rates stated as low as; rates reflect a 45-day lock period; refinances locked for 60 days
No additional details available.
As Low As
As Low As
- Oct 23, 20266.86%▼ from 6.98%
- Oct 15, 20266.98%▲ from 6.93%
- Oct 13, 20266.93%first recorded
Conform / Jumbo: Up to $806,500; No points; No prepayment penalty
- Oct 5, 20266.86%▲ from 6.74%
- Sep 14, 20266.74%first recorded
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Fully Indexed Rate: 7.315%; Maximum Interest Rate: 10.875%; Months to First Rate Adjustment: 60 Months; Interest Only Term: 0 Months
- Oct 19, 20266.93%▲ from 6.83%
- Sep 27, 20266.83%▲ from 6.78%
- Sep 18, 20266.78%first recorded
Interest Rate Starting At 6.375%; APR Starting At 6.936%; $200,000 Loan Amount; $1248 Payment; $0 Discount Points
- Oct 2, 20266.94%▲ from 6.51%
- Sep 14, 20266.51%first recorded
Adjustable-Rate Mortgage; Rates shown are based on the no-points option
- Oct 23, 20266.94%▼ from 6.95%
- Oct 12, 20266.95%first recorded
As Low As; Payment: 1,438.92
Conform / Jumbo: Over $806,500; No points; No prepayment penalty
- Oct 5, 20267.06%▲ from 6.74%
- Sep 14, 20266.74%first recorded
As Low As; Home Loans
No additional details available.
Construction Loan Interest Rates; Service Retained; Rates shown assume a purchase transaction for a single family primary residence in Wisconsin, credit score 780 or better, 75% LTV, $225,000 loan amount
- Oct 22, 20267.26%▲ from 7.18%
- Oct 14, 20267.18%▼ from 7.21%
- Oct 8, 20267.21%▲ from 7.14%
- Oct 3, 20267.14%▲ from 7.13%
No additional details available.
Example: $200,000 purchase, 20% down, $160,000 loan; Updated 09/19/2025
Non-Owner Occupied 1-4 Family Residence; Minimum down payment 25%; Maximum term 20 years; Points: No points; Rates effective as of 10/14/2026; Assumes purchase transaction, minimum credit score 780, maximum LTV 80%; APR calculated on $50,000 loan; Interest rates adjust based on 5-year US Treasury Note rates plus a fixed margin
No additional details available.
Groveland 30-Year Jumbo Mortgage Rates
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.83%▼ from 6.87%
- Oct 6, 20266.87%▲ from 6.77%
- Sep 30, 20266.77%first recorded
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.14%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Jumbo purchase mortgage sample: credit score 780 or higher; LTV 75% (25% down payment); loan amount $1,000,000; owner occupied single family; no secondary financing; 60-day lock; Principal & Interest payment $6,737.19; minimum loan amount $832,751; rates effective 10/19/2026
- Oct 20, 20267.14%▼ from 7.26%
- Sep 27, 20267.26%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Refinance; advertised rates effective as of 10/19/2026
7-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
Jumbo Mortgage Interest Rates; Adjustable rate, fixed for initial period; Assumes purchase, single family primary residence in Wisconsin, credit score 725+, 80% LTV, loan amount $840,000; minimum loan amount for advertised rate $832,750
- Oct 22, 20267.15%▲ from 7.08%
- Oct 14, 20267.08%▼ from 7.10%
- Oct 8, 20267.10%▲ from 7.03%
- Oct 3, 20267.03%▲ from 7.03%
based on $940,000 loan and at least 25% equity; 7-year fixed period, adjusts yearly; current as of 10/19/2026
As Low As; APR based on $832,751 loan amount
As Low As
- Oct 23, 20267.25%▼ from 7.38%
- Oct 13, 20267.38%first recorded
10-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
Jumbo loan; advertised rate assumes single-family primary residence, 720 FICO, 20% down; Rates as of Oct 19, 2026 ET
Jumbo loan amounts $832,751 - $1,000,000; Sample; APR based on estimated loan amount of $832,751; Maximum LTV 75% for detached single family, 70% for condos/townhouses
based on $940,000 loan and at least 25% equity; 10-year fixed period, adjusts yearly; current as of 10/19/2026
No additional details available.
No additional details available.
** Payment is based on a $726,300 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20267.40%▲ from 7.02%
- Sep 18, 20267.02%first recorded
As Low As; APR based on $832,751 loan amount
As Low As
- Oct 23, 20267.40%▼ from 7.53%
- Oct 13, 20267.53%first recorded
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
Jumbo; Rates effective October 16, 2026
- Oct 19, 20267.60%▼ from 7.63%
- Oct 13, 20267.63%first recorded
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
Rates Effective: 10.20.26
- Oct 7, 20267.78%▲ from 7.65%
- Oct 2, 20267.65%▲ from 7.53%
- Sep 18, 20267.53%▲ from 7.15%
- Sep 15, 20267.15%first recorded
Adjustable-rate mortgage (10/1 ARM)
As Low As; Fixed Rate Mortgage; Jumbo
- Oct 9, 20267.92%▲ from 7.54%
- Sep 29, 20267.54%▲ from 7.05%
- Sep 14, 20267.05%first recorded
Adjustable-rate mortgage (7/1 ARM)
As Low As; Exclusive for Servicemembers, Reservists and Veterans who have exhausted their VA loan benefit; no down payment required; assumes single-family primary residence, 720 FICO, 0% down
Advertised rate assumes single-family primary residence, 720 FICO, 0% down payment; Rates as of Oct 19, 2026 ET
- Oct 20, 20268.48%▼ from 8.61%
- Oct 1, 20268.61%first recorded
Groveland 15-Year Jumbo Mortgage Rates
As Low As; APR based on $832,751 loan amount
As Low As
- Oct 23, 20266.58%▼ from 6.70%
- Oct 13, 20266.70%first recorded
As Low As; APR based on $832,751 loan amount
As Low As
- Oct 23, 20266.67%▼ from 6.79%
- Oct 13, 20266.79%first recorded
No additional details available.
Jumbo loan; advertised rate assumes single-family primary residence, 720 FICO, 20% down; Rates as of Oct 19, 2026 ET
Jumbo; Rates effective October 16, 2026
- Oct 19, 20267.20%▼ from 7.23%
- Oct 13, 20267.23%first recorded
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
Groveland 5/1 Jumbo ARM Mortgage Rates
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.78%▼ from 6.83%
- Oct 6, 20266.83%▲ from 6.75%
- Sep 30, 20266.75%first recorded
As Low As
As Low As
- Oct 23, 20266.78%▼ from 6.85%
- Oct 15, 20266.85%▲ from 6.80%
- Oct 13, 20266.80%first recorded
5-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; 5-year fixed period, adjusts yearly; current as of 10/19/2026
Adjustable-rate mortgage (5/1 ARM)
Groveland FHA Loan Rates
FHA; based on maximum allowable loan to value ratio of 96.50%; Payment: $1,621.50; Last updated October 21 2026
Rates Effective: 10.20.26
FHA; Purchase price $210,000, Loan Amount $206,196, 3.5% down-payment, 680 credit score, Illinois primary residence only, single family home, fees include 1.75% UFMIP as required by FHA, results in higher APR, 45-day rate lock. Rates current as of 10/19/2026 at 9:49 AM
FHA; 3.5% down; Rate based on $175,000 loan
No additional details available.
FHA; 3.5% down; Rate based on $175,000 loan
FHA; 3.5% down; Rate based on $175,000 loan
Based on $270,019 loan amount and down payment of at least 3.5%; Rates current as of 10/19/2026
based on $270,019 loan and at least 3.5% equity; assumes FICO 680+; current as of 10/19/2026
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20269.57%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Principal & Interest Payment: $1,179.99
- Oct 20, 20269.57%▲ from 9.57%
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Refinance; advertised rates effective as of 10/19/2026
Groveland VA Loan Rates
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
Purchase Rates; Rates Updated: 10/19/2026
- Oct 20, 20267.43%▼ from 7.69%
- Oct 1, 20267.69%▲ from 7.56%
- Sep 27, 20267.56%▲ from 7.18%
- Sep 24, 20267.18%first recorded
No additional details available.
Rates Effective: 10.20.26
- Sep 27, 20267.47%▲ from 7.34%
- Sep 24, 20267.34%▲ from 7.22%
- Sep 18, 20267.22%▲ from 7.09%
- Sep 15, 20267.09%first recorded
VA; Purchase price $200,000, Loan Amount $204,300, no down-payment, 680 credit score, Illinois primary residence only, single family home, fees may include 2.15% VA funding fee as required by VA, first-time use, regular military, 45-day rate lock. Rates current as of 10/19/2026 at 9:49 AM
Based on $383,625 loan amount and no down payment; Rates current as of 10/19/2026
based on $305,059 loan and 14.8% equity; current as of 10/19/2026
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.67%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
Refinance; advertised rates effective as of 10/19/2026
- Oct 20, 20267.67%▲ from 7.04%
- Sep 15, 20267.04%first recorded
Principal & Interest Payment: $1,201.15; Purchase, owner occupied single family; assumes credit score 680 or higher, LTV 100%, 45-day lock
- Oct 20, 20267.67%▲ from 7.54%
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
Groveland, IL Mortgage Rate Trends
Compare local Groveland, IL mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
Illinois 30-year fixed rates fell 0.053 points over the past 7 days to 7.412%.
Illinois 15-year fixed rates fell 0.044 points over the past 7 days to 6.956%.
Illinois Mortgage Rate Forecast, Next 12 Months
Where are Illinois mortgage rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Groveland, IL Home Buyers
Monthly principal & interest payment on Groveland, IL median home of $303,400 (20% down, 30-year fixed, city-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (IL avg) | 7.412% | $1,683 | 24.2% | |
| 6-Month Forecast | 7.412% (7.06, 7.71%) | $1,683 | +$0/mo | 24.2% |
| 12-Month Forecast | 7.662% (7.31, 7.96%) | $1,724 | +$42/mo | 24.8% |
Income column = annual mortgage payment as % of Groveland, IL median household income ($83,390). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for Groveland, Illinois , computed from local Census Bureau data combined with current Illinois mortgage rates. Based on Illinois statewide data for this location.
What This Score Means for Groveland, Illinois Home Buyers
With a score of 97.7, Groveland, Illinois is 0.4 points more affordable than the national average of 97.3. The area’s median home value of $263,300 against a median household income of $83,390 produces a price-to-income ratio of 3.2x , relatively affordable compared to national levels. At the current Illinois mortgage rate of 7.412%, a buyer purchasing the median-priced home with 20% down would carry a monthly payment of approximately $1,460 in principal and interest.
Beyond the mortgage payment, the median total monthly owner cost in this area is $1,431, covering mortgage, property taxes, insurance, and utilities. Property taxes alone average $416/month ($4,987/year). These ongoing costs factor directly into the MBR-HAI alongside the mortgage rate and income data.
Score computed from Illinois statewide U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025 data, combined with the current Illinois live mortgage rate. Score of 100 = national average at 6.5% reference rate. Full methodology
How Mortgage Rates Impact Home Affordability in Groveland, Illinois
Groveland, Illinois Housing Market Overview
City-level home value data is not available for Groveland ; figures below reflect Illinois statewide data.
The Illinois statewide median owner-occupied home value is approximately $263,300, according to the U.S. Census Bureau. The 2026 FHFA conforming loan limit for this area is $832,750, meaning most buyers financing at 80% LTV will qualify for conforming loan pricing, making rate comparison across local lenders especially valuable.
Groveland, Illinois Homeownership Rate
The homeownership rate in Groveland, Illinois stands at 68.4%, near the national average of 65.7%. The homeowner vacancy rate of 0.5% signals a tight market with limited available inventory, making it critical to secure the best possible rate quickly when a suitable property becomes available.
Monthly Payment Estimates for Groveland, Illinois Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $400,000 mortgage.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.912% | 30-year fixed | $2,638 | $549,540 |
| 7.412% Current Avg | 30-year fixed | $2,773 | $598,206 |
| 7.912% | 30-year fixed | $2,911 | $647,800 |
| 6.956% | 15-year fixed | $3,585 | $245,386 |
A 0.500% rate increase on a $400,000 loan adds roughly $138 per month and over $49,594 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a Groveland, Illinois buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
Groveland, Illinois Income & Housing Affordability
City-level Census data is not available for Groveland ; figures below reflect Illinois statewide data.
At a price-to-income ratio of 3.2x, Illinois is a relatively affordable housing market compared to national averages. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Illinois Buyers
With a median household income of $83,390 per year in Illinois statewide ($6,949/month) and a median home value of approximately $263,300, a buyer financing at 80% LTV at the current average rate would commit roughly 39.9% of gross monthly income to principal and interest alone. That places most buyers above the 30% threshold housing economists use to define "cost burdened", before taxes, insurance, HOA fees, or PMI are factored in.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Groveland, Illinois
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home in Groveland, Illinois. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
In Groveland, Illinois, the median homeowner with a mortgage pays approximately $1,431/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,274/month including utilities. The $157/month difference between owning and renting is relatively narrow, worth factoring carefully into a rent vs. buy analysis given that owners also build equity over time. Property taxes alone account for $416/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
In Groveland, Illinois, 26.5% of homeowners with mortgages are cost burdened and 45.4% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 26.5% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Groveland, Illinois Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s Groveland, Illinois rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Groveland, Illinois Home Loan
Rates are only part of the equation. Use these calculators to translate current Groveland, Illinois mortgage rates and home loan rates into real numbers for your specific situation before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Groveland, Illinois rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in Groveland, Illinois.
CalculateTypes of Mortgages Available in Groveland, Illinois
Not every loan program is right for every buyer in Groveland, Illinois. Rates, down payment requirements, eligibility rules, and long-term costs vary significantly across products, and the right choice depends on your credit profile, how long you plan to stay, and whether you qualify for any government-backed programs.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Groveland, Illinois rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15% to 0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in Groveland, Illinois, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In Groveland, Illinois, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
The 2026 FHFA conforming loan limit for Groveland, Illinois is $832,750. Mortgages above that amount are classified as jumbo loans and are not eligible for purchase by Fannie Mae or Freddie Mac, which means lenders carry the full risk and price that risk accordingly.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Groveland, Illinois mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Groveland, Illinois directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Groveland, Illinois. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in IL.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Works in Groveland, Illinois
A mortgage is a loan used to buy a home in Groveland, Illinois, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages for Groveland, Illinois Buyers
A fixed-rate mortgage keeps the same interest rate for the entire term, so a Groveland, Illinois homeowner’s principal-and-interest payment never changes. For example, PNB of Kewanee is listing a 30 Year Fixed Mortgages at 5.96%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit Groveland, Illinois borrowers who expect to move or refinance before that point. On the adjustable-rate side, Actors Federal Credit Union is listing a Adjustable Rate Mortgage 5/1 ARM at 5.114%.
How Groveland, Illinois Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a Illinois borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs in Groveland, Illinois
The interest rate is not the only cost of buying a home in Groveland, Illinois. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps Groveland, Illinois shoppers account for these costs when weighing lenders.
When Groveland, Illinois Homeowners Should Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For Groveland, Illinois homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current Groveland, Illinois refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in Groveland, Illinois
What are home loan rates in Groveland, IL today?
How does my credit score affect my rate in Illinois?
What is a 30-Year Fixed Mortgage?
What are closing costs in Illinois?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Groveland, Illinois?
Do I need 20% down to buy a house in Illinois?
What is the difference between Interest Rate and APR?
How do I compare mortgage lenders in Groveland, Illinois?
How do I get mortgage quotes in Groveland, Illinois?
What is the homeownership rate in Groveland, Illinois?
What is the conforming loan limit in Groveland, Illinois?
What is the median monthly cost of homeownership in Groveland, Illinois?
What are the median property taxes in Groveland, Illinois?
What is the median rent in Groveland, Illinois?
What percentage of homeowners are cost burdened in Groveland, Illinois?
What percentage of renters are cost burdened in Groveland, Illinois?
What are the best Mortgage rates in Groveland, Illinois?
- PNB of Kewanee: 5.96% (30 Year Fixed Mortgages)
- GenFed Financial Credit Union: 6.24% (30 Year Mortgage (Fixed))
- Town Center Bank: 6.75% (FHA 30-Year Fixed)
- Vantage Credit Union: 6.75% (30-Yr. Fixed - Member Advantage)
- Selfreliance Federal Credit Union: 6.875% (Mortgage - 30 Year Fixed)
Groveland, Illinois Rates & Resources
