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 +$82/mo MI | 3.5% Down680 FICO30-yr | 6.377% 7.147% APR | $1,132 Principal & Interest | $0 Points | |
Lower Credit FHA FHA for buyers with lower credit scores +$82/mo MI | 3.5% Down580 FICO30-yr | 6.386% 7.157% APR | $1,134 Principal & Interest | $0 Points | |
HomeReady Fannie Mae HomeReady, low-income buyers +$105/mo MI | 3% Down660 FICO30-yr | 6.862% 7.233% APR | $1,176 Principal & Interest | $0 Points | |
10% Down Conv. Conventional purchase, 10% down +$111/mo MI | 10% Down720 FICO30-yr | 6.936% 7.093% APR | $1,100 Principal & Interest | $0 Points | |
5% Down Conv. Conventional, avg credit, 5% down +$117/mo MI | 5% Down700 FICO30-yr | 7.262% 7.743% APR | $1,199 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.