Illinois Interest Only Mortgage Rates

Mortgage rates for Illinois go down to 3.00%

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Illinois is now at 4.56%.

Interest Only Rates in Illinois

When you buy a home in Illinois or refinance your existing mortgage with an interest only mortgage loan, you are taking out a 30-year mortgage, electing to pay "interest only" (instead of principal + interest) for a set period of time, such as 3, 5, 7 or 10 years. After the end of the "interest only period", the monthly payments readjust to include the principal, and the loan is re-amortized for the remaining years. Check out our main page on Interest Only Mortgage Rates.

Local Cities

Aurora | Bloomington | Carmi | Champaign | Chicago | East St Louis | Elgin | Fairfield | Harrisburg | Highland Park | Hinsdale | Kankakee | Moline | Mt. Carmel | Mt. Vernon | Naperville | Oak Brook | Peoria | Quincy | Robinson | Rock Island | Rockford | Springfield | Ste. Marie | Urbana | Waukegan | Yale