Compare DeKalb, IL mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in DeKalb.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in DeKalb. Plus, shopping lenders is free and there is no obligation.
January 22, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in DeKalb. Understand how much you need to earn to afford a home in DeKalb, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in DeKalb fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in DeKalb is right for you.
The median home value for DeKalb, IL is $215,947
Based on current mortgage rates and a 10% down payment, you need to make $35,382 per year to buy the median priced home in DeKalb
With this income, you could qualify for a $194,352 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in DeKalb is $819
The median household income for DeKalb, IL is $69,317
Based on this income, you can afford a home valued at approximately $423,064
The home price you can afford to buy based on household income in DeKalb is 196% of the median home value which means housing prices are average. DeKalb ranks 96 out of 102 counties in Illinois and 1,812 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in DeKalb, IL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for DeKalb below.
Conforming loan limits for DeKalb, IL
FHA loan limits for DeKalb, IL