Compare mortgage rates and fees for leading lenders in Joilet, IL. 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 lender offering the best mortgage rates in Joilet.
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October 21, 2019
The current average rate for a 30 year fixed rate mortgage in Joilet is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Joilet, IL (Will County) is $242,276
The median household income for Joilet, IL (Will County) is $83,252
Based on current mortgage rates and a 10% down payment, you need to make $44,950 per year to buy the median priced home in Joilet
The home price you can afford to buy based on household income in Joilet is 185% of the median home value which means housing prices are average
Joilet (Will County) ranks 96 out of 102 counties in Illinois and 1,876 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 average
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
VA loan limits for Joilet, IL
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index