Current Best Mortgage Rates in Elgin, IL

If you, along with many other potential homeowners, have been impressed by sinking mortgage rates and are now thinking about purchasing your first home, the present might actually be the perfect time. Of course, just because average Elgin mortgage rates are at an all-time low doesn’t mean every lending institution will be offering a great deal. In order to lessen the cost of your home purchase as much as possible, you’ll need to research the rates available locally and find the very best.

Whether you’re interested in a traditional fixed rate mortgage or are planning on obtaining an ARM, there’s a lender in Elgin, IL with a great rate for you. Below is a list of the best mortgage rates in Elgin across a host of loan types.

Elgin Banks and Credit Unions with Lowest Mortgage Rates

Top Elgin 15-Year Fixed Mortgage Rates

• JPMorgan Chase Bank, National Association: 2.75%
• • No Orig. Fees
  • Points: 0


• Wells Fargo Bank, National Association: 3.13%
• • Orig. Fees: 1%
  • Points: 0


• Associated Bank, National Association: 3.25%
• • No Orig. Fees
  • Points: 0

Best 30-Year Fixed Mortgage Rates in Elgin

• JPMorgan Chase Bank, National Association: 3.38%
• • No Orig. Fees
  • Points: 0


• Quicken Loans Inc: 3.99%
• • No Orig. Fees
  • Points: 2


• Associated Bank, National Association: 4.13%
• • No Orig. Fees
  • Points: 0

Lowest Elgin 3/1 ARM Mortgage Rates

• Wells Fargo Bank, National Association: 2.13%
• • Orig. Fees: 1%
  • Points: 0.88
  • Caps: 2% per Adjustment Period


• Fifth Third Bank: 2.38%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period


• PNC Bank, National Association: 2.5%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period

Best Mortgage Rates for a 5/1 ARM in Elgin

• Wells Fargo Bank, National Association: 2.25%
• • Orig. Fees: 1%
  • Points: 0.88
  • Caps: 2% per Adjustment Period


• Associated Bank, National Association: 2.26%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period


• Bank of America, National Association: 2.63%
• • No Orig. Fees
  • Points: 0.88
  • Caps: 2% per Adjustment Period

Be sure you verify these interest rates with the lender before applying. These rates are accurate as of 11/01/11, but could change at any time. Further, you may be subject to additional requirements or credit approval in order to obtain the lowest advertised Elgin mortgage rate.