What are current refinance rates in Shelby County?

Today's refinance rates in Shelby County start at 7.230% for qualified borrowers. Rates are updated daily using live investor pricing data from Safe Rate's pricing engine.

Mortgage Refinance Rates — who qualifies in Shelby County?

Rate/term and cash-out refinance options including FHA Streamline and VA IRRRL. Updated daily.

What are current mortgage rates in Shelby County?

As of today, a standard conventional rate in Shelby County is 7.230% (APR 7.263%) 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 Shelby County?

The average home value in Shelby County is $163,033, with +16.7% appreciation over the past two years. At a 2.2x price-to-income ratio, affordability remains reasonable compared to many U.S. markets.

What is the typical monthly mortgage payment in Shelby County?

Based on the average home value with a standard conventional loan, the estimated principal and interest payment is $1,007/mo. Total PITI costs will also include property taxes ($2,063/yr locally), homeowners insurance (est. $69/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 Shelby County, IL

7.230%APR 7.263% · $1,007/mo (20% Down)

Updated daily · May 22, 2026+0.236% (14d)

Safe Rate Mortgage20% Down Conv.

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14-Day Rate Trend

↑ +0.236%

LO 6.963%HI 7.230%TODAY 7.230%

Product	Key Attributes	Rate / APR ↑	Mo. Payment ↕	Points
15-Year Refi 15-year fixed refinance	0% Down740 FICO15-yr	6.332% 6.381% APR	$1,193 Principal & Interest	$0 Points
FHA Streamline FHA streamline refinance +$82/mo MI	0% Down640 FICO30-yr	6.377% 7.147% APR	$1,132 Principal & Interest	$0 Points
VA Cash-Out VA cash-out refinance	0% Down640 FICO30-yr	6.485% 6.860% APR	$1,163 Principal & Interest	$0 Points
VA IRRRL VA streamline refinance	0% Down640 FICO30-yr	6.487% 6.640% APR	$1,063 Principal & Interest	$0 Points
Rate/Term Refi Conventional rate/term refinance	0% Down740 FICO30-yr	7.137% 7.170% APR	$934 Principal & Interest	$0 Points
Cash-Out Refi Conventional cash-out refinance	0% Down740 FICO30-yr	7.625% 7.661% APR	$1,047 Principal & Interest	$0 Points

Safe Rate Mortgage Pricing for Shelby County

Median Home Value

$163,033

2-Yr Appreciation

16.7%

increase

Median Income

$72,605

household

Price-to-Income

2.2x

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 17173

Average Home Value: $163,033
Average Rent: $809/mo
Average Income: $72,605
Property Tax: $2,063/yr
Avg Loan: $138,438
Avg LTV: 74.9%

Estimated Insurance

Homeowners Insurance

HO-3 policy · covers dwelling, property & liability

$69/mo

Flood Insurance$29/mo

Risk TierVery High

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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.