What are current first-time homebuyer rates in Clark County?

Today's first-time homebuyer rates in Clark County start at 7.210% for qualified borrowers. Rates are updated daily using live investor pricing data from Safe Rate's pricing engine.

First-Time Homebuyer Mortgage Rates — who qualifies in Clark County?

First-time buyer programs including FHA, HomeReady, and low-down-payment conventional options. Compare rates by program.

What are current mortgage rates in Clark County?

As of today, a standard conventional rate in Clark County is 7.210% (APR 7.246%) for a 30-year fixed loan. This assumes a 20% down payment and a 740+ credit score. Rates are updated daily using Safe Rate's live pricing engine.

How much does a home cost in Clark County?

The average home value in Clark County is $177,401, with +29.3% appreciation over the past two years. At a 2.4x price-to-income ratio, affordability remains reasonable compared to many U.S. markets.

What is the typical monthly mortgage payment in Clark County?

Based on the average home value with a standard conventional loan, the estimated principal and interest payment is $1,027/mo. Total PITI costs will also include property taxes ($2,071/yr locally), homeowners insurance (est. $68/mo), and any applicable mortgage insurance.

How do I qualify for a mortgage?

Conventional loans typically require a 620+ credit score and 3–20% down. With 20% down you avoid PMI. FHA loans are available with as little as 3.5% down and a 580+ credit score. VA loans offer 0% down for eligible veterans. Requirements vary by loan program. Contact a licensed loan officer for guidance specific to your situation.

How are these mortgage rates calculated?

Safe Rate Mortgage (NMLS #1590949) updates these rates daily using live investor rate sheets. Your actual rate may vary based on credit score, down payment, and property type.

Safe Rate Local

Mortgage Rates in Clark County, IL

7.210%APR 7.246% · $1,027/mo (20% Down)

Updated daily · May 21, 2026+0.220% (14d)

Safe Rate Mortgage20% Down Conv.

← Back to Clark County Hub

14-Day Rate Trend

↑ +0.220%

LO 6.954%HI 7.210%TODAY 7.210%

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First-Time Homebuyer Programs in Clark County

Compare the top low-down-payment programs side by side

🏛️FHA

Min. down3.5% ($6,209)

Min. credit580+

Rate6.373%

Est. P&I$1,157/mo

Est. MIP/PMI+$78/mo

✓Easiest credit qualification

△MIP for life of loan (<10% down)

🏘️HomeReady

Min. down3% ($5,322)

Min. credit620+

Rate6.859%

Est. P&I$1,202/mo

Est. MIP/PMI+$108/mo

✓Reduced PMI vs standard conventional

△Income limits apply by area

💵Conventional 5%

Min. down5% ($8,870)

Min. credit620+

Rate7.258%

Est. P&I$1,225/mo

Est. MIP/PMI+$119/mo

✓PMI cancels at 80% LTV

△Higher PMI than HomeReady

💡 Pro tip for first-time buyers in Clark County

Illinois offers additional first-time buyer assistance through IHDA (Illinois Housing Development Authority). Programs like Access Forgivable and Helping Families Save provide down payment assistance up to 4% of the loan amount. Ask your loan officer about stacking state DPA with an FHA or HomeReady loan.

Product	Key Attributes	Rate / APR ↑	Mo. Payment ↕	Points
FHA 3.5% Down FHA purchase, 3.5% down +$84/mo MI	3.5% Down680 FICO30-yr	6.373% 7.147% APR	$1,157 Principal & Interest	$0 Points
Lower Credit FHA FHA for buyers with lower credit scores +$84/mo MI	3.5% Down580 FICO30-yr	6.383% 7.157% APR	$1,158 Principal & Interest	$0 Points
HomeReady Fannie Mae HomeReady, low-income buyers +$107/mo MI	3% Down660 FICO30-yr	6.859% 7.234% APR	$1,202 Principal & Interest	$0 Points
10% Down Conv. Conventional purchase, 10% down +$113/mo MI	10% Down720 FICO30-yr	6.927% 7.087% APR	$1,123 Principal & Interest	$0 Points
5% Down Conv. Conventional, avg credit, 5% down +$120/mo MI	5% Down700 FICO30-yr	7.258% 7.743% APR	$1,225 Principal & Interest	$0 Points

Safe Rate Mortgage Pricing for Clark County

Median Home Value

$177,401

2-Yr Appreciation

29.3%

increase

Median Income

$72,472

household

Price-to-Income

2.4x

within reach

Rates updated daily by Safe Rate Mortgage (NMLS #1590949). Your actual rate depends on credit score, down payment, and property details.

Frequently Asked Questions

Market Snapshot

FIPS 17023

Average Home Value: $177,401
Average Rent: $835/mo
Average Income: $72,472
Property Tax: $2,071/yr
Avg Loan: $151,667
Avg LTV: 80.3%

Estimated Insurance

Homeowners Insurance

HO-3 policy · covers dwelling, property & liability

$68/mo

Flood Insurance$18/mo

Risk TierHigh

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Safe Rate Mortgage. NMLS #1590949. Rates shown are representative estimates. Illinois Residential Mortgage Licensee. Loans subject to credit and property approval. Rates and terms are subject to change without notice.