Illinois Refinance Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Illinois mortgage refinance rates range from 4.50% to 8.67%, verified by MonitorBankRates as of October 14, 2026. Current mortgage refinance rates in Illinois include Dupaco Community Credit UnionDupaco Community Credit Union11375 Oldenburg Ln, Galena, IL, 61036 8104A+5.0 ★Texas Ratio: 3.87% at 7.13%, First Community Credit UnionFirst Community Credit Union1040 Collinsville Crossing Blvd, Belleville, IL, 62034A+5.0 ★Texas Ratio: 3.75% at 6.016%, PNB of KewaneePNB of Kewanee109 W Maple Ave, Annawan, IL, 60420B4.7 ★Texas Ratio: 19.21% at 5.96%, GenFed Financial Credit UnionGenFed Financial Credit Union800 S 42ND ST, Centralia, IL, 62801A+5.0 ★Texas Ratio: 4.88% at 6.24%, and Central Credit Union of IllinoisCentral Credit Union of Illinois1001 Mannheim Rd, Bellwood, IL, 60104A+5.0 ★Texas Ratio: 4.42% at 5.99%. Refinance rates as of October 14, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare refinance rates across all loan types in Illinois side-by-side. Illinois refinance rates currently start as low as 5.96% from PNB of Kewanee at 109 W Maple Ave, Annawan, IL, 60420. Rates are continually updated, so we recommend checking back frequently.
Refinance rates reflect actual verified offers from lenders actively lending to Illinois homeowners. Your final approved rate will depend on your credit profile, loan-to-value ratio, cash-out amount, and daily market movements. Last Updated and Verified: October 14, 2026
Compare Refinance Rates Today in Illinois
Rates shown are each lender’s posted rate for that loan type, which most lenders apply to purchase and refinance loans alike. Local Illinois lenders are listed first in every tab. Among lenders that post both, refinance pricing currently runs about 0.131 points above the same lender’s purchase rate nationally. That premium is shown for context only; every rate in the table is the lender’s posted rate.
Illinois 30 Year Fixed Refinance Rates
$200,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20267.22%▲ from 6.78%
- Sep 22, 20266.78%first recorded
$100,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20267.28%▲ from 6.78%
- Sep 22, 20266.78%first recorded
$832,750; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20267.43%▲ from 6.78%
- Sep 22, 20266.78%first recorded
$300,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20267.45%▲ from 6.78%
- Sep 22, 20266.78%first recorded
30-year fixed-rate home loan; interest rate not stated
No additional details available.
As Low As; Real Estate Loan Rates; Effective Date: 10/1/2026
- Oct 10, 20266.24%▲ from 5.49%
- Sep 18, 20265.49%first recorded
No additional details available.
No additional details available.
Fixed-rate mortgage; savings example based on $250,000 loan; excellent credit profile
No additional details available.
- Oct 11, 20266.89%▼ from 7.02%
- Sep 24, 20267.02%▲ from 6.77%
- Sep 15, 20266.77%first recorded
No additional details available.
No additional details available.
- Sep 18, 20267.09%▲ from 6.45%
- Sep 14, 20266.45%first recorded
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%
No additional details available.
- Oct 11, 20267.15%▲ from 7.02%
- Sep 24, 20267.02%▲ from 6.77%
- Sep 15, 20266.77%first recorded
$200,000; Payment Example: $1,347.61
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Home Loan Rates; Rates as of 10/9/2026
- Oct 13, 20267.23%▼ from 7.35%
- Oct 1, 20267.35%▲ from 6.85%
- Sep 18, 20266.85%▲ from 6.60%
- Sep 14, 20266.60%first recorded
Interest rate and APR starting at; $100,000 loan amount; $665 payment; rates based on 70% LTV, 760+ credit score
- Oct 14, 20267.24%▲ from 7.13%
- Sep 18, 20267.13%first recorded
Mortgage rates are current as of October 5, 2026, and are subject to change at any time.
- Oct 7, 20267.25%▲ from 7.13%
- Oct 1, 20267.13%▲ from 7.00%
- Sep 19, 20267.00%▲ from 6.88%
- Sep 15, 20266.88%first recorded
$100,000; Payment Example: $673.80
- Oct 13, 20267.27%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
$832,750; Payment Example: $5,680.83; Rate/Term loan amount limit context: $832,750 or less
- Oct 13, 20267.29%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
No additional details available.
- Oct 7, 20267.31%▲ from 7.18%
- Oct 1, 20267.18%▲ from 7.06%
- Sep 19, 20267.06%▲ from 6.93%
- Sep 15, 20266.93%first recorded
No additional details available.
- Sep 27, 20267.31%▲ from 7.06%
- Sep 15, 20267.06%first recorded
$300,000; Payment Example: $2,046.53
- Oct 13, 20267.32%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
No additional details available.
- Oct 12, 20267.33%▼ from 7.45%
- Oct 8, 20267.45%first recorded
No additional details available.
- Oct 11, 20267.42%▼ from 7.67%
- Oct 7, 20267.67%▲ from 7.55%
- Oct 1, 20267.55%▲ from 7.30%
- Sep 24, 20267.30%▲ from 7.17%
$250,000; Loan amount not exceeding $250,000; Estimated Payment: $1243.22
- Oct 9, 20267.44%▲ from 6.93%
- Sep 22, 20266.93%▲ from 6.81%
- Sep 14, 20266.81%first recorded
No additional details available.
As Low As; w/ 0.625 Points; Payment: 1,637.22
No additional details available.
- Oct 1, 20267.47%▲ from 7.09%
- Sep 24, 20267.09%▲ from 6.83%
- Sep 15, 20266.83%first recorded
Terms and Conditions
- 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
No additional details available.
- Oct 7, 20267.51%▲ from 7.13%
- Sep 24, 20267.13%▲ from 7.07%
- Sep 18, 20267.07%▼ from 7.13%
- Sep 15, 20267.13%first recorded
Fixed-Rate Mortgage; rates shown are based on our no-points option
- Oct 12, 20267.51%▼ from 7.63%
- Oct 8, 20267.63%▲ from 7.57%
- Oct 4, 20267.57%▼ from 7.67%
- Oct 1, 20267.67%▲ from 6.85%
Mortgage Purchase Rates; VA Assumptions: 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 10/13/2026 at 10:40 AM
- Oct 14, 20267.52%▼ from 8.03%
- Oct 2, 20268.03%▲ from 7.42%
- Sep 27, 20267.42%first recorded
As Low As; Purchase rate; Displayed rates reflect a 45-day lock period; Refinances locked for 60 days
As low as; Rate: 7.250%; APR: 7.540%
- Oct 9, 20267.54%▲ from 7.16%
- Sep 29, 20267.16%▲ from 6.77%
- Sep 14, 20266.77%first recorded
No additional details available.
- Oct 1, 20267.55%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.30%
- Sep 24, 20267.30%▲ from 7.17%
- Sep 18, 20267.17%first recorded
No additional details available.
- Oct 1, 20267.55%▲ from 7.30%
- Sep 24, 20267.30%▲ from 7.18%
- Sep 15, 20267.18%first recorded
No additional details available.
- Oct 7, 20267.55%▲ from 7.43%
- Sep 27, 20267.43%▲ from 7.30%
- Sep 24, 20267.30%first recorded
Estimated Payment: $1258.59
- Oct 9, 20267.56%▲ from 7.06%
- Sep 14, 20267.06%first recorded
as low as
- Oct 12, 20267.58%▼ from 7.71%
- Oct 8, 20267.71%▲ from 7.46%
- Oct 3, 20267.46%▼ from 7.71%
- Oct 1, 20267.71%▲ from 7.58%
Mortgage Purchase Rates; Conventional Assumptions: Purchase Price $312,500, Loan Amount $250,000, single family home, Illinois primary residence, 80% loan-to-value, credit score 780 or higher, escrow required, 45-day rate lock; Rates current as of 10/13/2026 at 10:40 AM
- Oct 14, 20267.59%▼ from 7.73%
- Oct 2, 20267.73%▲ from 7.61%
- Sep 27, 20267.61%first recorded
No additional details available.
- Oct 7, 20267.64%▲ from 7.13%
- Sep 24, 20267.13%first recorded
As Low As
- Oct 1, 20267.68%▲ from 7.55%
- Sep 27, 20267.55%▲ from 7.30%
- Sep 18, 20267.30%▲ from 7.17%
- Sep 15, 20267.17%first recorded
No additional details available.
- Oct 1, 20267.68%▲ from 7.55%
- Sep 27, 20267.55%▲ from 7.30%
- Sep 18, 20267.30%first recorded
No additional details available.
- Oct 1, 20267.68%▲ from 6.68%
- Sep 19, 20266.68%first recorded
No additional details available.
- Oct 1, 20267.68%▲ from 7.43%
- Sep 24, 20267.43%▲ from 7.30%
- Sep 18, 20267.30%first recorded
No additional details available.
- Oct 1, 20267.69%▲ from 7.56%
- Sep 27, 20267.56%▲ from 7.18%
- Sep 24, 20267.18%first recorded
No additional details available.
- Oct 1, 20267.70%▲ from 7.57%
- Sep 27, 20267.57%▲ from 7.45%
- Sep 24, 20267.45%first recorded
Mortgage Purchase Rates; HomeReady Assumptions: Purchase Price $260,000, Loan Amount $252,200, single family home, Illinois primary residence, 97% loan-to-value, 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 10/13/2026 at 10:40 AM
- Oct 14, 20267.71%▼ from 7.84%
- Oct 2, 20267.84%▲ from 7.65%
- Sep 27, 20267.65%first recorded
Illinois 15 Year Fixed Refinance Rates
Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20266.75%▲ from 6.63%
- Sep 22, 20266.63%first recorded
No additional details available.
For complete information or rate quotes contact a Mortgage Specialist at 563-210-2787 or 563-888-9670
No additional details available.
No additional details available.
No additional details available.
No additional details available.
- Sep 24, 20266.36%▲ from 6.11%
- Sep 15, 20266.11%first recorded
Conventional Mortgages - 5% Down; Pmt/$10,000: $85.06; Rate (as low as); based on $175,000 loan
As Low As; Get peace of mind with predictable monthly payments. Both traditional and short-term options available.
- Sep 27, 20266.50%▲ from 6.25%
- Sep 18, 20266.25%▲ from 6.13%
- Sep 14, 20266.13%first recorded
No additional details available.
No additional details available.
- Sep 18, 20266.59%▲ from 5.96%
- Sep 14, 20265.96%first recorded
No additional details available.
- Oct 11, 20266.61%▲ from 6.36%
- Sep 24, 20266.36%▲ from 6.11%
- Sep 15, 20266.11%first recorded
No additional details available.
Mortgage rates are current as of October 5, 2026, and are subject to change at any time.
- Oct 7, 20266.63%▲ from 6.50%
- Oct 1, 20266.50%▲ from 6.38%
- Sep 19, 20266.38%▲ from 6.25%
- Sep 15, 20266.25%first recorded
No additional details available.
- Oct 7, 20266.68%▲ from 6.55%
- Oct 1, 20266.55%▲ from 6.43%
- Sep 19, 20266.43%▲ from 6.30%
- Sep 15, 20266.30%first recorded
Conventional Mortgages - 5% Down; Pmt/$10,000: $87.11; Rate (as low as); based on $175,000 loan
Interest rate and APR starting at; $100,000 loan amount; $857 payment; rates based on 70% LTV, 760+ credit score
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
Home Loan Rates; Rates as of 10/9/2026
- Oct 13, 20266.78%▼ from 6.91%
- Oct 9, 20266.91%▲ from 6.78%
- Oct 1, 20266.78%▲ from 6.53%
- Sep 18, 20266.53%▲ from 6.16%
As Low As; Purchase rate; Displayed rates reflect a 45-day lock period; Refinances locked for 60 days
As Low As; w/ 0.875 Points; Payment: 2,090.66
No additional details available.
- Oct 12, 20266.85%▼ from 6.97%
- Oct 8, 20266.97%first recorded
Fixed-Rate Mortgage; rates shown are based on our no-points option
- Oct 12, 20266.90%▼ from 7.03%
- Oct 8, 20267.03%▲ from 6.79%
- Oct 4, 20266.79%▼ from 7.00%
- Oct 1, 20267.00%▲ from 6.18%
No additional details available.
- Oct 1, 20267.01%▲ from 6.63%
- Sep 24, 20266.63%▲ from 6.38%
- Sep 15, 20266.38%first recorded
No additional details available.
- Oct 7, 20267.09%▲ from 6.71%
- Sep 18, 20266.71%▲ from 6.59%
- Sep 15, 20266.59%first recorded
No additional details available.
- Oct 1, 20267.11%▲ from 6.98%
- Sep 27, 20266.98%▲ from 6.86%
- Sep 24, 20266.86%first recorded
No additional details available.
- Sep 27, 20267.18%▲ from 7.06%
- Sep 24, 20267.06%▲ from 6.80%
- Sep 18, 20266.80%▲ from 6.68%
- Sep 14, 20266.68%first recorded
No additional details available.
- Oct 7, 20267.19%▲ from 6.97%
- Sep 24, 20266.97%first recorded
As Low As
- Sep 27, 20267.20%▲ from 6.95%
- Sep 18, 20266.95%▲ from 6.70%
- Sep 15, 20266.70%first recorded
No additional details available.
- Sep 27, 20267.20%▲ from 6.95%
- Sep 18, 20266.95%first recorded
No additional details available.
- Oct 1, 20267.20%▲ from 5.84%
- Sep 19, 20265.84%first recorded
No additional details available.
- Oct 1, 20267.21%▲ from 6.96%
- Sep 24, 20266.96%▲ from 6.71%
- Sep 15, 20266.71%first recorded
No additional details available.
- Sep 27, 20267.21%▲ from 6.96%
- Sep 24, 20266.96%first recorded
Mortgage Purchase Rates; Conventional Assumptions: Purchase Price $312,500, Loan Amount $250,000, single family home, Illinois primary residence, 80% loan-to-value, credit score 780 or higher, escrow required, 45-day rate lock; Rates current as of 10/13/2026 at 10:40 AM
- Oct 14, 20267.22%▼ from 7.26%
- Oct 2, 20267.26%▲ from 7.13%
- Sep 27, 20267.13%first recorded
Estimated Payment: $1630.50
- Oct 9, 20267.22%▲ from 7.09%
- Sep 22, 20267.09%▲ from 6.84%
- Sep 14, 20266.84%first recorded
No additional details available.
- Sep 27, 20267.26%▲ from 6.83%
- Sep 15, 20266.83%first recorded
as low as
- Oct 12, 20267.26%▼ from 7.51%
- Oct 1, 20267.51%▲ from 7.26%
- Sep 28, 20267.26%▲ from 7.01%
- Sep 20, 20267.01%first recorded
Qualifications Apply - Click Here
- Oct 7, 20267.37%▼ from 7.50%
- Oct 1, 20267.50%first recorded
As low as; Rate: 7.000%; APR: 7.461%
- Oct 9, 20267.46%▲ from 7.08%
- Sep 29, 20267.08%▲ from 6.57%
- Sep 14, 20266.57%first recorded
No additional details available.
- Oct 7, 20267.56%▼ from 8.07%
- Sep 24, 20268.07%▲ from 7.69%
- Sep 19, 20267.69%▲ from 6.68%
- Sep 15, 20266.68%first recorded
Rates based on a mortgage for $150,000 ($200 in loan origination fees included with APR), 80% loan to value, 730 credit score
No additional details available.
- Oct 11, 20267.63%▼ from 7.84%
- Oct 7, 20267.84%▲ from 7.71%
- Sep 24, 20267.71%▲ from 7.33%
- Sep 19, 20267.33%▲ from 7.21%
No additional details available.
- Oct 1, 20267.83%▲ from 7.33%
- Sep 24, 20267.33%first recorded
No additional details available.
Mortgage Rates; Monthly payment example $941.28
- Oct 9, 20268.08%▲ from 7.45%
- Sep 29, 20267.45%▲ from 6.70%
- Sep 14, 20266.70%first recorded
As Low As; *
- Oct 7, 20268.57%▲ from 8.07%
- Sep 24, 20268.07%▲ from 7.69%
- Sep 19, 20267.69%▲ from 6.68%
- Sep 15, 20266.68%first recorded
Rates fixed and based on a second mortgage for $50,000 ($200 in loan origination fees included with APR) with a loan-to-value of 80% and a 730 credit score
Illinois 5/1 ARM Refinance Rates
Adjustable Rate Mortgage (ARM) - Home Loans; Base Rate 4.500%, Initial APR 4.611%; APR assumes 30-year term, 2/6 caps
As Low As; Enjoy a low initial rate that adjusts with the market. Various terms and options available.
- Oct 14, 20266.00%▼ from 6.13%
- Oct 1, 20266.13%▲ from 5.63%
- Sep 18, 20265.63%▲ from 5.50%
- Sep 14, 20265.50%first recorded
No additional details available.
Adjustable Rate Mortgage
- Oct 13, 20266.25%▼ from 7.03%
- Oct 2, 20267.03%first recorded
Adjustable rate mortgage; initial interest rate and APR for the first 5 years; APR could increase after consummation
- Oct 9, 20266.26%▲ from 5.54%
- Sep 14, 20265.54%first recorded
As Low As; Purchase rate; Displayed rates reflect a 45-day lock period; Refinances locked for 60 days
No additional details available.
Conform / Jumbo: Up to $806,500
- Oct 5, 20266.86%▲ from 6.57%
- Sep 14, 20266.57%first recorded
As Low As; Home Loans
As Low As; Adjustable-Rate Mortgage
Interest rate and APR starting at; $200,000 loan amount; $1248 payment; 30-year term (360 payments); rates based on 70% LTV, 760+ credit score
Rates shown are based on our no-points option
No additional details available.
- Oct 7, 20267.01%▲ from 6.76%
- Sep 18, 20266.76%first recorded
Conform / Jumbo: Over $806,500
- Oct 5, 20267.06%▲ from 6.74%
- Sep 14, 20266.74%first recorded
No additional details available.
No additional details available.
- Oct 8, 20267.21%▲ from 7.14%
- Oct 3, 20267.14%▲ from 7.13%
- Oct 1, 20267.13%▲ from 7.09%
- Sep 24, 20267.09%▲ from 6.92%
No additional details available.
- Oct 10, 20267.51%▲ from 6.82%
- Oct 1, 20266.82%▲ from 6.65%
- Sep 27, 20266.65%▲ from 6.38%
- Sep 14, 20266.38%first recorded
Payment Example: $5.52
No additional details available.
- Oct 10, 20268.21%▲ from 6.93%
- Oct 1, 20266.93%▲ from 6.84%
- Sep 27, 20266.84%▲ from 6.56%
- Sep 14, 20266.56%first recorded
Illinois 30-Year Jumbo Refinance Rates
Adjustable-rate mortgage loan; Rates as of Oct 13, 2026 ET
- Oct 6, 20266.87%▲ from 6.77%
- Sep 30, 20266.77%first recorded
No additional details available.
- Oct 8, 20267.10%▲ from 7.03%
- Oct 3, 20267.03%▲ from 7.03%
- Oct 1, 20267.03%▲ from 6.98%
- Sep 24, 20266.98%first recorded
As Low As; Finance higher-priced homes without a large down payment or multiple mortgages.
- Oct 1, 20267.13%▲ from 6.88%
- Sep 18, 20266.88%▲ from 6.63%
- Sep 14, 20266.63%first recorded
ARM rates, APRs and monthly payments are subject to increase after the initial fixed-rate period of five, seven, or 10 years and assume a 30-year term.
No additional details available.
- Sep 27, 20267.26%▲ from 7.01%
- Sep 18, 20267.01%first recorded
No additional details available.
- Sep 27, 20267.26%▲ from 7.01%
- Sep 15, 20267.01%first recorded
$832,751 - $1,000,000
ARM rates, APRs and monthly payments are subject to increase after the initial fixed-rate period of five, seven, or 10 years and assume a 30-year term.
As Low As; Jumbo Fixed-Rate Mortgage
- Oct 5, 20267.38%▼ from 7.50%
- Oct 2, 20267.50%▲ from 7.33%
- Sep 29, 20267.33%▲ from 7.13%
- Sep 25, 20267.13%▲ from 6.86%
Advertised rate: single-family primary residence, 720 FICO, 20% down; Rates as of Oct 13, 2026 ET
Fixed rate
Fixed rate
As Low As; Jumbo Fixed-Rate Mortgage
- Oct 5, 20267.53%▼ from 7.65%
- Oct 2, 20267.65%▲ from 7.40%
- Sep 29, 20267.40%▲ from 7.28%
- Sep 25, 20267.28%▲ from 7.02%
Jumbo
No additional details available.
No additional details available.
Terms and Conditions
- 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)
- Oct 14, 20267.82%▲ from 7.00%
- Oct 1, 20267.00%▲ from 6.62%
- Sep 14, 20266.62%first recorded
As low as; Rate: 7.625%; APR: 7.924%
- 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)
- Oct 14, 20268.04%▲ from 6.95%
- Oct 1, 20266.95%▲ from 6.58%
- Sep 14, 20266.58%first recorded
Illinois 15-Year Jumbo Refinance Rates
As Low As; Jumbo Fixed-Rate Mortgage
- Oct 5, 20266.70%▼ from 6.83%
- Oct 2, 20266.83%▲ from 6.58%
- Sep 29, 20266.58%▲ from 6.45%
- Sep 25, 20266.45%▲ from 6.20%
As Low As; Jumbo Fixed-Rate Mortgage
- Oct 5, 20266.79%▼ from 6.92%
- Oct 2, 20266.92%▲ from 6.67%
- Sep 29, 20266.67%▲ from 6.54%
- Sep 25, 20266.54%▲ from 6.29%
Fixed rate
Advertised rate: single-family primary residence, 720 FICO, 20% down; Rates as of Oct 13, 2026 ET
Jumbo
- Oct 13, 20267.23%▲ from 6.83%
- Sep 14, 20266.83%first recorded
No additional details available.
Illinois 5/1 Jumbo ARM Refinance Rates
As Low As; Jumbo Adjustable-Rate Mortgage
Adjustable-rate mortgage loan; Rates as of Oct 13, 2026 ET
- Oct 6, 20266.83%▲ from 6.75%
- Sep 30, 20266.75%first recorded
ARM rates, APRs and monthly payments are subject to increase after the initial fixed-rate period of five, seven, or 10 years and assume a 30-year term.
Adjustable-rate mortgage (5/1 ARM)
- Oct 14, 20268.21%▲ from 6.93%
- Oct 1, 20266.93%▲ from 6.56%
- Sep 14, 20266.56%first recorded
Illinois FHA Loan Rates
Terms and Conditions
As Low As; FHA Mortgages - 3.5% Down
Primary Mortgage; Pmt/$10,000: $69.41
- Oct 14, 20268.00%▲ from 7.04%
- Sep 18, 20267.04%first recorded
3.5% Down; Rate shown as low as
FHA Mortgages - 3.5% Down; Rate (as low as) 7.250%; Pmt/$10,000: $69.41
No additional details available.
Mortgage Purchase Rates; FHA Assumptions: 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% up front mortgage insurance premium (UFMIP) as required by FHA, results in higher APR, 45-day rate lock; Rates current as of 10/13/2026 at 10:40 AM
- Oct 14, 20268.01%▼ from 8.01%
- Oct 2, 20268.01%▲ from 7.97%
- Sep 27, 20267.97%first recorded
As Low As; FHA Mortgages - 3.5% Down
3.5% Down; Rate shown as low as
Primary Mortgage; Pmt/$10,000: $74.37
- Oct 14, 20268.15%▲ from 7.19%
- Sep 18, 20267.19%first recorded
FHA Mortgages - 3.5% Down; Rate (as low as) 7.375%; Pmt/$10,000: $74.37
As Low As; FHA Mortgages - 3.5% Down
3.5% Down; Rate shown as low as
Primary Mortgage; Pmt/$10,000: $83.53
- Oct 14, 20268.56%▲ from 7.24%
- Sep 18, 20267.24%first recorded
FHA Mortgages - 3.5% Down; Rate (as low as) 7.750%; Pmt/$10,000: $83.53
No additional details available.
No additional details available.
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
No additional details available.
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%first recorded
Illinois VA Loan Rates
No additional details available.
- Oct 7, 20267.92%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
- Sep 18, 20267.04%first recorded
Rates as of Oct 13, 2026 ET. Rates subject to change.
Rates as of Oct 13, 2026 ET. Rates subject to change.
No additional details available.
Terms and Conditions
- 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
Mortgage Purchase Rates; VA Assumptions: 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 10/13/2026 at 10:40 AM
- Oct 14, 20267.52%▼ from 8.03%
- Oct 2, 20268.03%▲ from 7.42%
- Sep 27, 20267.42%first recorded
No additional details available.
No additional details available.
- Oct 1, 20267.69%▲ from 7.56%
- Sep 27, 20267.56%▲ from 7.18%
- Sep 24, 20267.18%first recorded
No additional details available.
- Oct 7, 20267.92%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
- Sep 15, 20267.04%first recorded
No additional details available.
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
National Refinance Rate Averages
Daily averages of posted rates across every lender we track, as of October 14, 2026. Use these as the benchmark for the Illinois quotes above; lenders that price refinances separately currently run about 0.131 points higher.
Illinois Refinance Rate Trends
Compare local Illinois refinance quotes against the statewide average
Daily averages of posted first-mortgage rates across our lender network, updated every evening. Because most lenders price purchase and refinance loans identically, this is the benchmark a Illinois refinance quote should be measured against, plus roughly 0.131 points at lenders that price refinances separately.
Illinois 30-year fixed rates fell 0.029 points over the past 7 days to 7.511%.
Illinois 15-year fixed rates fell 0.042 points over the past 7 days to 6.990%.
What Illinois Homeowners Actually Pay to Refinance
Posted refinance rates from our lender network alongside the rates borrowers closed at, from federal HMDA filings
Two different measures. The refinance premium is computed nightly from lenders that publish separate purchase and refinance pricing. HMDA figures are median note rates on loans that actually closed.
Illinois Refinance Rate Forecast, Next 12 Months
Where are Illinois refinance rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. If the forecast shows rates falling, waiting may beat refinancing today; the break-even calculator below shows what each scenario is worth. Not financial advice.
What Forecast Rates Mean for Illinois Homeowners Refinancing
Monthly principal & interest on a 30-year refinance of the loan of $210,640 (80% of the state median home value). Payment differences show what waiting for the forecast rate would be worth each month.
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (IL avg) | 7.511% | $1,474 | 21.2% | |
| 6-Month Forecast | 7.511% (7.16, 7.81%) | $1,474 | +$0/mo | 21.2% |
| 12-Month Forecast | 7.761% (7.41, 8.06%) | $1,511 | +$36/mo | 21.7% |
Income column = annual mortgage payment as % of Illinois median household income ($83,390). Above 30% is generally considered cost-burdened.
Illinois Refinance Break-Even Calculator
Enter your current loan and the refinance rate you have been quoted. The calculator shows the new payment, monthly savings, and how many months it takes for those savings to pay back the closing costs. Click a current Illinois rate on the right to test it instantly.
Principal and interest only. Excludes escrow, mortgage insurance, and any prepayment penalty on the current loan. Lifetime interest compares the remaining interest on the current loan to total interest on the new loan. Estimates are for informational purposes only.
Run the Numbers on Your Illinois Refinance
The rate is only part of the decision. Use these calculators to turn current Illinois home refinance rates into monthly savings, break-even months, and total interest before you request quotes from refinance lenders.
If 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.
CalculateEnter 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.
CalculateIf your goal is cash rather than a lower rate, compare current Illinois home equity loan and HELOC rates against a cash-out refinance. Keeping a low existing first mortgage and adding a second lien is often the cheaper path, especially for loans originated between 2020 and 2022.
CompareTell 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 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.
CalculateTypes of Refinance Loans Available in Illinois
Homeowners across Illinois can choose from several refinance programs. The right one depends on what you are trying to do: lower the rate, shorten the term, pull cash out, or drop mortgage insurance. Pricing, appraisal requirements, and eligibility differ across each, and the cheapest program is not always the lowest posted rate once fees are counted.
Rate-and-Term Refinance
The standard refinance. You replace your existing mortgage with a new loan for about the same balance, changing only the rate, the term, or both. It is the lowest-priced refinance product at nearly every Illinois lender because the loan-to-value ratio does not rise.
Best for homeowners whose rate is at least half a point above today’s Illinois average and who plan to stay past the break-even point. Choosing a term that matches your remaining years, rather than resetting to 30, keeps the payoff date where it is.
Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference at closing. Conventional lenders cap the new loan at 80% of appraised value; VA cash-out loans go to 90%. Rates run above rate-and-term pricing.
If you hold a low rate from 2020 to 2022, a home equity loan or HELOC in Illinois usually costs less than refinancing the whole balance at today’s rate to pull out cash.
FHA Streamline Refinance
For homeowners already in an FHA loan. No appraisal, no income verification, and limited credit review, as long as the new loan produces a net tangible benefit (generally a rate at least 0.5% lower, or a move from an ARM to a fixed rate). You need 210 days since the first payment and six on-time payments.
The upfront mortgage insurance premium is reduced to 0.01% and annual MIP continues, so FHA borrowers with 20% equity and good credit should also price a conventional rate-and-term refinance, which drops mortgage insurance entirely.
VA IRRRL (Streamline Refinance)
The Interest Rate Reduction Refinance Loan lets veterans refinance an existing VA loan with no appraisal, no income documentation, and a funding fee of just 0.5% (waived for borrowers with a service-connected disability). Closing costs can be rolled into the loan.
The new rate must be lower than the current one unless you are moving from an ARM to a fixed rate, and you must recoup closing costs within 36 months. VA lenders in Illinois quote IRRRL pricing separately, so ask for it by name.
USDA Streamlined-Assist Refinance
For homeowners with an existing USDA Rural Development loan. No appraisal or credit review in most cases, and the new payment must be at least $50 a month lower than the current one. The property no longer has to meet the rural eligibility map.
Twelve months of on-time payments are required, and the 1% upfront guarantee fee plus the annual fee apply to the new loan.
Jumbo Refinance
The 2026 FHFA conforming baseline in Illinois is $832,750 for most counties, higher in designated high-cost areas. A refinance above the county limit is a jumbo loan, priced and underwritten lender by lender.
Jumbo refinances usually require a 700 or higher credit score, reserves of six to twelve months of payments, and a loan-to-value of 80% or less. Because balances are large, even a quarter-point rate difference is worth thousands a year, so compare the 30-Year Jumbo and 15-Year Jumbo tabs above closely. If paying the balance down to the conforming limit at closing is possible, conforming refinance pricing is often noticeably better.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Illinois refinance 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 Refinance Rate Data: We aggregate mortgage and refinance rates for 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. Where a lender publishes a product specifically for refinancing, that product is listed by name; where a lender publishes one rate sheet for purchase and refinance loans, that rate is shown as the refinance rate, which is how the lender itself quotes it.
Refinance Premium and HMDA Figures: The refinance premium is the average difference between a lender’s refinance-labeled product and the same lender’s standard product of the same term, computed nightly across lenders that publish both. It is shown for context and is never added to any rate in the tables. HMDA figures are median note rates on first-lien, owner-occupied, one-to-four-unit loans originated in the most recent reporting year, from the Consumer Financial Protection Bureau’s public Loan/Application Register.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in 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 and refinance 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 Refinance Works in Illinois
A refinance pays off your current mortgage with a new loan on the same Illinois home. The new lender wires the payoff to the old lender at closing, and from that point you make payments on the new loan only. Because it is a brand-new mortgage, you go through an application, credit check, and usually an appraisal, and you pay closing costs, just as you did when you bought the home.
How Illinois Refinance Rates Compare to Purchase Rates
Most Illinois banks and credit unions post one rate sheet that applies to purchase and refinance loans alike, which is why the tables above show the same lenders you will find on our Illinois mortgage rates page. For example, Dupaco Community Credit Union is listing a Refinance: 30-Year Fixed Conventional at 7.13% for either purpose. Some lenders price refinances separately and list them by name, such as Dupaco Community Credit Union’s Refinance: 15-Year Fixed Conventional at 6.63%. Across lenders that post both, refinance pricing currently runs about 0.131 points above the same lender’s purchase rate nationally. Cash-out refinances, investment properties, and second homes carry pricing add-ons at every lender.
Finding Your Break-Even Point in Illinois
Divide total closing costs by the monthly payment savings and you get the number of months until the refinance has paid for itself. A Illinois homeowner who expects to sell before that month should not refinance, no matter how good the rate looks. The calculator above runs this math with today’s local rates. A shorter break-even, under three years, is a comfortable margin; anything past five years needs a long stay to pay off.
Refinance Closing Costs and No-Closing-Cost Loans in Illinois
Refinance closing costs in Illinois typically run two to five percent of the loan and include the lender’s origination fee, appraisal, title search and lender’s title policy, recording fees, and prepaid interest. Discount points are optional and buy the rate down. A no-closing-cost refinance rolls the fees into a higher rate or the loan balance. It is not free, but it can be the better choice for a homeowner likely to move or refinance again within a few years, because there is nothing to recoup.
When Illinois Homeowners Should Wait
Refinancing rarely pays when the new rate is less than half a point below the current one, when you are more than ten years into a 30-year loan and would reset the clock, or when your credit score has dropped since the original loan. Homeowners holding a rate from 2020 to 2022 are usually better served by keeping that loan and using a home equity loan or HELOC for cash needs. Our Illinois refinance rate trends above show where rates have been over the past 90 days, and the forecast gives a sense of where they may head, so you can decide whether to lock now or wait.
Frequently Asked Questions about Refinance Rates in Illinois
What are home loan refinance rates in Illinois (IL) today?
Are refinance rates higher than purchase mortgage rates in Illinois?
When does refinancing make sense in Illinois?
How soon can I refinance a mortgage in Illinois?
What is a rate-and-term refinance?
What is a cash-out refinance?
Does refinancing reset my 30-year term?
What are typical refinance closing costs in Illinois?
What is the difference between interest rate and APR on a refinance?
Should I lock my refinance rate?
How do I compare refinance lenders in Illinois?
How do I get refinance quotes in Illinois?
What are the best refinance rates in Illinois?
- Dupaco Community Credit Union: 7.13% (Refinance: 30-Year Fixed Conventional)
- First Community Credit Union: 6.016% (Member's Best Home Loan (30-Year Fixed))
- PNB of Kewanee: 5.96% (30 Year Fixed Mortgages)
- GenFed Financial Credit Union: 6.24% (30 Year Mortgage (Fixed))
- Central Credit Union of Illinois: 5.99% (30-Year Fixed-Rate Mortgages)
Illinois Rates & Resources
Home Refinance Rates by City in Illinois (IL)
