Safe Rate Local
Compare the top low-down-payment programs side by side
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 | Rate / APR ↑ | Mo. Payment ↕ | Points | ||
|---|---|---|---|---|---|
FHA 3.5% Down FHA purchase, 3.5% down +$111/mo MI | 3.5% Down680 FICO30-yr | 6.319% 7.085% APR | $1,522 Principal & Interest | $0 Points | |
Lower Credit FHA FHA for buyers with lower credit scores +$111/mo MI | 3.5% Down580 FICO30-yr | 6.352% 7.119% APR | $1,527 Principal & Interest | $0 Points | |
HomeReady Fannie Mae HomeReady, low-income buyers +$141/mo MI | 3% Down660 FICO30-yr | 6.930% 7.300% APR | $1,601 Principal & Interest | $0 Points | |
10% Down Conv. Conventional purchase, 10% down +$150/mo MI | 10% Down720 FICO30-yr | 6.942% 7.095% APR | $1,487 Principal & Interest | $0 Points | |
5% Down Conv. Conventional, avg credit, 5% down +$158/mo MI | 5% Down700 FICO30-yr | 7.313% 7.793% APR | $1,629 Principal & Interest | $0 Points |
Rates updated daily by Safe Rate Mortgage (NMLS #1590949). Your actual rate depends on credit score, down payment, and property details.
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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.