Tuesday, May 21, 2013

Illinois Jumbo Mortgage Rates – Still Remain Historically Low

Home prices are on the rise in Illinois. This will allow many Illinois home buyers to move up to more expensive homes where they will need a jumbo mortgage loan. A jumbo loan in Illinois is any loan that exceeds $417,000. Illinois jumbo mortgages have never been more competitive than they are right now. As an example, one jumbo mortgage lender has recently introduced a 10% down loan program for home prices up to $850,000.

There are many towns and communities throughout greater Chicago with median prices in excess of $500,000. The top five most expensive communities throughout greater Chicago are Kenilworth (60043), Winnetka (60093), Glencoe (60022), Lake Forest (60045) and Barrington Hills (60010).

If you’re looking for a jumbo mortgage loan in Kenilworth, Winnetka, Glencoe, Lake Forest or Barrington Hills now is a fantastic time to secure one of the lowest interest rates in history. With interest rates so low and options to put less money down on a home, homeowner’s can maximize their borrowing power.

United Home Loans provides jumbo mortgage loans in Illinois, Indiana, Michigan, Minnesota and Wisconsin.

Illinois Mortgage Rates
IL 30 Year Jumbo mortgage as of May 21, 2013 4.000%/4.013 APR
IL 15 Year Jumbo mortgage as of May 21, 2013 3.125%/3.151 APR

Please click this link for APR assumptions and more IL mortgage rates

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