Find the Best Chicago Home Loans – July 19, 2011

Chicago home prices are at the lowest level in 10 years. With a median sales price around $200,000, the cost of an average Chicago home has fallen approximately 33% since prices hit the highest point five years ago. As inventory fluctuates seasonally and by neighborhood, Chicago home loan rates remain low for buyers with an excellent credit history.

Consider the following rates for a $300,000 Chicago home loan in 30 and 15-year fixed rate term as well as an ARM Option.

$300,000 Chicago Home Loan with 30-Year Term:

AimLoan.com: 30-year fixed rate at 4.25% with an estimated monthly payment of $1,476
AmeriSave: 30-year fixed rate at 4.5% with an estimated monthly payment of $1,520
Quicken Loans: 30-year fixed rate at 4.625% with an estimated monthly payment of $1,542

$300,000 Chicago Home Loan with 15-Year Term:

First Centennial Mortgage: 15-year fixed rate at 3.5% with an estimated monthly payment of $2,145
McGlone Mortgage: 15-year fixed rate at 3.625% with an estimated monthly payment of $2,163
CapWest Mortgage: 15-year fixed rate at 3.625% with an estimated monthly payment of $2,163

$300,000 Chicago Home Loan with ARM Option:

McGlone Mortgage: 5/1 ARM option at 2.75% with an estimated monthly payment of $1,225
Great Western: 5/1 ARM option at 2.875% with an estimated monthly payment of $1,245
Northstar Lenders: 5/1 ARM option at 3% with an estimated monthly payment of $1,265

Mortgage rates accurate as of publishing date and based on loan amounts of $300,000. Please see the financial institution about any changes and additional fees.