Compare Joilet, 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 Joilet.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Joilet. Plus, shopping lenders is free and there is no obligation.
May 26, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Joilet. Understand how much you need to earn to afford a home in Joilet, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Joilet 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 Joilet is right for you.
The median home value for Joilet, IL (Will County) is $287,076
Based on current mortgage rates and a 10% down payment, you need to make $47,036 per year to buy the median priced home in Joilet
With this income, you could qualify for a $258,368 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 Joilet is $1,089
The median household income for Joilet, IL (Will County) is $97,423
Based on this income, you can afford a home valued at approximately $594,603
The home price you can afford to buy based on household income in Joilet is 207% of the median home value which means housing prices are affordable. Joilet (Will County) ranks 95 out of 102 counties in Illinois and 1,581 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Joilet, IL is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Joilet (Will County) below.
Conforming loan limits for Joilet, IL
FHA loan limits for Joilet, IL