Metro area · Illinois

Chicago-Naperville-Schaumburg, IL metro: mortgages and home buyers

2025 home-purchase and refinance statistics for the 5-county Chicago-Naperville-Schaumburg, IL area (OMB code 16984), from official HMDA records.

In 2025, lenders reported 55,957 home-purchase mortgages for owner-occupied, single-family homes in the Chicago-Naperville-Schaumburg, IL metro area. The median buyer borrowed $325,000 on a home valued at $385,000 and reported a household income of $120,000.

Buyers financed a median 87.9% of the home's value (roughly 12.1% down), paid a median 6.75% on 30-year fixed conventional loans and faced median conventional loan costs of $6,550.

Lenders denied 10.2% of completed home-purchase applications.

Purchase loans

55,957

5 counties

Buyer income

$120,000

U.S. $116,000

Loan amount

$325,000

U.S. $335,000

Down payment

12.1%

U.S. 10%

30-yr fixed rate

6.75%

U.S. 6.625%

Denial rate

10.2%

Purchase · U.S. 8.5%

Key facts

The median 30-year fixed conventional rate here was 13 basis points above the U.S. median (6.625%).
Median conventional loan costs ($6,550) were 18% higher than the U.S. median ($5,570).
FHA loans made up 13.0% of purchase mortgages, versus 21.1% nationally.
44.8% of buyers put at least 20% down (financed 80% or less), compared with 38.5% nationally.
The most common age bracket among borrowers was 25–34 (36.7% of purchase loans).
57.4% of purchase mortgages had a single borrower with no co-applicant.
The most-cited reason for denial was debt-to-income ratio (29.4% of denials with a stated reason).

Counties in the metro area

County	Purchase loans	Median loan	Buyer income	30-yr rate	Loan costs	Conforming limit	FHA limit
Cook County, IL	37,211	$315,000	$118,000	6.750%	$6,640	$832,750	$541,287
DuPage County, IL	7,445	$355,000	$137,000	6.650%	$6,460	$832,750	$541,287
Will County, IL	7,085	$325,000	$124,000	6.625%	$6,380	$832,750	$541,287
McHenry County, IL	3,662	$305,000	$111,000	6.625%	$6,130	$832,750	$541,287
Grundy County, IL	554	$275,000	$108,000	6.750%	$6,000	$832,750	$541,287

Who bought homes in Chicago

Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.

Purchase loans

55,957

of 63,961 applications

Buyer income

$120,000

Middle half $83,000–$192,000

Home value

$385,000

Middle half $275,000–$545,000

Loan amount

$325,000

Middle half $235,000–$445,000

Down payment

12.1%

44.8% put 20%+ down

Single borrower

57.4%

No co-applicant

Values are medians; "middle half" is the 25th to 75th percentile.

Loan type

Conventional 83.4% 46,647

FHA 13.0% 7,275

VA 3.6% 2,027

USDA 0.0% 8

What the homes were for

Primary residence 95.8% 56,170

Second home 0.9% 533

Investment property 3.3% 1,919

All first-lien, closed-end purchase mortgages, including second homes and investors.

Borrower age

Under 25 4.4%

25–34 36.7%

35–44 29.2%

45–54 15.2%

55–64 9.0%

65–74 4.2%

75 and over 1.3%

Debt-to-income ratio

Under 20% 3.4%

20–29% 14.7%

30–35% 15.9%

36–42% 25.9%

43–49% 34.2%

50–60% 5.7%

Over 60% 0.2%

Monthly debts (including the new payment) as a share of income, as used in underwriting.

What borrowing cost in Chicago

Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.

Measure	Chicago	U.S.
30-year fixed rate · conventional	6.750%	6.625%
30-year fixed rate · FHA	6.575%	6.250%
30-year fixed rate · VA	6.250%	6.125%
15-year fixed rate · conventional	5.875%	5.875%
Rate spread vs. APOR · conventional	+0.27 pts	+0.13 pts
Total loan costs · conventional	$6,550	$5,570
Total loan costs · FHA	$12,520	$11,310
Total loan costs · VA	$6,710	$6,490
Origination charges (all loan types)	$1,640	$1,860
Borrowers paying discount points	38.7%	51.3%
Points paid, when paid (% of loan)	0.51%	0.87%
Borrowers receiving lender credits	37.5%	33.1%
Adjustable-rate mortgages	6.4%	7.4%
Jumbo loans (above conforming limit)	4.7%	3.8%

Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.

Approvals and denials

Chicago: 6,518 of 63,961 completed home-purchase applications were denied (10.2%).

Denial rate

Application	Chicago	U.S.
Home purchase	10.2%	8.5%
Conventional	8.4%	7.1%
FHA	19.6%	12.5%
VA	12.3%	8.0%
USDA	—	12.5%
Refinance	15.2%	17.9%
Cash-out refinance	36.1%	33.6%

Main reason for purchase denials

Debt-to-income ratio 29.4%

Collateral (appraisal/property) 21.9%

Credit application incomplete 17.9%

Credit history 8.7%

Unverifiable information 7.3%

Other 7.2%

Insufficient cash (down payment/closing costs) 5.5%

Employment history 2.1%

Mortgage insurance denied 0.0%

First reason the lender reported.

Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.

Refinancing in Chicago

Refinances

15,392

Median loan $365,000

Refi rate

6.375%

30-yr fixed, conv.

Refi loan costs

$2,990

Conventional

Cash-out refis

8,227

Median loan $245,000

Cash-out rate

6.99%

30-yr fixed, conv.

Cash-out income

$102,000

Median borrower

Source: FFIEC/CFPB HMDA 2025 public LAR (derived MSA/MD); OMB July 2023 delineations via the U.S. Census Bureau. Methodology