Mortgage Rates in Maywood, Illinois — March 2026
Updated March 2026 | Based on Maywood market data and regional lending conditions
Maywood is a growing city in Illinois with a population of 24,090. The current 30-year fixed mortgage rate in Maywood is 6.75%, which is 0.1% above the national average. With a median home price of $247,000 and a 20% down payment of $49,400, homebuyers can expect a monthly principal and interest payment of approximately $1,282.
Current Mortgage Rates in Maywood, IL
Below are the current average mortgage rates available in the Maywood area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7% | 6.85% | +0.15% |
Maywood Housing Market Overview
The Maywood housing market offers relatively affordable housing compared to many major cities. The median household income in Maywood is $55,900, and the cost of living index is 88.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,300 to comfortably afford the median-priced home in Maywood, which exceeds the current median household income.
Monthly Payment Breakdown for Maywood
Based on the median home price of $247,000 with 20% down ($49,400), here is what you can expect to pay monthly in Maywood:
15-Year vs. 30-Year Mortgage in Maywood
Choosing a 15-year mortgage in Maywood at 5.99% instead of a 30-year at 6.75% would save you $161,640 in total interest over the life of the loan. However, your monthly payment would be $1,666 instead of $1,282 — an increase of $384 per month.
Calculate Your Maywood Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Maywood
What are the current mortgage rates in Maywood, IL?
As of March 2026, the average 30-year fixed mortgage rate in Maywood, Illinois is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Maywood?
Based on the median home price of $247,000 with 20% down, the estimated monthly mortgage payment in Maywood is $1,282 for principal and interest. Including property taxes of $405/month, the total monthly housing cost is approximately $1,687.
What income do I need to buy a home in Maywood?
Using the 28% rule, you would need an annual income of approximately $72,300 to afford the median-priced home in Maywood at $247,000. The median household income in Maywood is $55,900. This means most households would need to either earn above the median or consider homes below $247,000.
Is Maywood a good place to buy a home in 2026?
Maywood offers a below-average cost of living with a cost of living index of 88.4 (national average = 100). The property tax rate in Illinois is 1.97%, which is above the national average. Maywood has a population of 24,090 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Maywood, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.