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Live Rates
30-Year Fixed6.710%+0.050|15-Year Fixed6.040%+0.060|30-Year FHA6.460%+0.050|30-Year VA6.210%+0.040|5/1 ARM6.210%+0.040|7/1 ARM6.340%+0.050|30-Year Jumbo7.210%+0.050|15-Year Jumbo6.710%+0.060|CA Avg6.650%-0.080|TX Avg6.700%+0.050|FL Avg6.700%-0.030|NY Avg6.680%-0.100|PA Avg6.690%-0.050|IL Avg6.730%+0.020|OH Avg6.750%-0.070|GA Avg6.680%0.000|NC Avg6.670%-0.040|MI Avg6.740%-0.060|AZ Avg6.700%+0.030|WA Avg6.640%-0.090|30-Year Fixed6.710%+0.050|15-Year Fixed6.040%+0.060|30-Year FHA6.460%+0.050|30-Year VA6.210%+0.040|5/1 ARM6.210%+0.040|7/1 ARM6.340%+0.050|30-Year Jumbo7.210%+0.050|15-Year Jumbo6.710%+0.060|CA Avg6.650%-0.080|TX Avg6.700%+0.050|FL Avg6.700%-0.030|NY Avg6.680%-0.100|PA Avg6.690%-0.050|IL Avg6.730%+0.020|OH Avg6.750%-0.070|GA Avg6.680%0.000|NC Avg6.670%-0.040|MI Avg6.740%-0.060|AZ Avg6.700%+0.030|WA Avg6.640%-0.090|

Best Mortgage Rates in Cook County, Illinois

Chicago metro county, the second most populous county in the US.

Rate data: Freddie Mac PMMS · Updated September 17, 2026 (build 2026-09-17)

Loan TypeCook CountyIllinois AvgNational
30-Year Fixed6.630%6.580%6.710%
15-Year Fixed5.880%5.830%5.875%
30-Year FHA6.380%6.330%6.375%
30-Year VA6.130%6.080%6.125%

County figures are the Illinois average adjusted for local market conditions. Actual rates vary by lender, credit score, and loan size.

In Cook County, property tax runs 1.89% of home value — $541/mo on the $343,350 median home. That's not a footnote; it's 19% of the PITI total before you finance anything.

Run the same home with 10% down and your payment includes $180/mo of PMI on top. Combined: $2,851/mo — and on an $80,000 household income, that lands a 50.3% back-end DTI, above the 43% conventional ceiling.

What this means in practice: in high-tax counties, the tax bill, not the rate, is what breaks your qualification. The lever that fixes it is usually the down payment — every 5 points of down payment removes roughly $181/mo and pulls DTI down by 2.7 points. The second lever is loan type: FHA underwrites to 57% back-end.

Your Cook County payment already includes $541/mo in property tax

And if you're putting down less than 20%, PMI adds $180/mo on top. Run your income through the DTI gauge: if it's over 43%, most conventional lenders stop the conversation there. You don't want to find that out at underwriting.

Two moves keep you in the game: a larger down payment, or a lender that writes high-DTI files. FHA caps at 57%, and some licensed lenders offer PMI-reduction programs. Match your profile against lenders rather than picking one on brand.

Match With Lenders →

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Calculate your Cook County monthly payment

Principal, interest, taxes, insurance & PMI — the true monthly cost.

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Frequently Asked Questions

What is the average mortgage rate in Cook County, Illinois?

The average 30-year fixed rate in Cook County is about 6.630% as of September 17, 2026, based on the state average of 6.580% adjusted for local market conditions. Your actual rate depends on credit score, loan size, and lender.

How much house can I afford in Cook County?

With a typical 20% down payment and the 6.630% county-average rate, a $100,000 household income qualifies for roughly a $400,000-$450,000 home before property taxes and insurance. Use our affordability calculator for your exact numbers.

Should I get a 15-year or 30-year mortgage in Cook County?

A 15-year loan runs about 5.880% in Cook County — around 0.75% lower than a 30-year — but the monthly payment is roughly 40-50% higher. Choose 15 years if you want to minimize total interest; choose 30 if monthly cash flow matters more.