Mortgage Rates in Mundelein, Illinois — March 2026
Updated March 2026 | Based on Mundelein market data and regional lending conditions
Mundelein is a growing city in Illinois with a population of 31,064. The current 30-year fixed mortgage rate in Mundelein is 6.7%, which is 0.05% above the national average. With a median home price of $243,000 and a 20% down payment of $48,600, homebuyers can expect a monthly principal and interest payment of approximately $1,254.
Current Mortgage Rates in Mundelein, IL
Below are the current average mortgage rates available in the Mundelein 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 | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Mundelein Housing Market Overview
The Mundelein housing market offers relatively affordable housing compared to many major cities. The median household income in Mundelein is $56,000, and the cost of living index is 86 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $71,957 to comfortably afford the median-priced home in Mundelein, which exceeds the current median household income.
Monthly Payment Breakdown for Mundelein
Based on the median home price of $243,000 with 20% down ($48,600), here is what you can expect to pay monthly in Mundelein:
15-Year vs. 30-Year Mortgage in Mundelein
Choosing a 15-year mortgage in Mundelein at 5.95% instead of a 30-year at 6.7% would save you $157,140 in total interest over the life of the loan. However, your monthly payment would be $1,635 instead of $1,254 — an increase of $381 per month.
Calculate Your Mundelein Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Mundelein
What are the current mortgage rates in Mundelein, IL?
As of March 2026, the average 30-year fixed mortgage rate in Mundelein, Illinois is 6.7%, while the 15-year fixed rate is 5.95%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Mundelein?
Based on the median home price of $243,000 with 20% down, the estimated monthly mortgage payment in Mundelein is $1,254 for principal and interest. Including property taxes of $425/month, the total monthly housing cost is approximately $1,679.
What income do I need to buy a home in Mundelein?
Using the 28% rule, you would need an annual income of approximately $71,957 to afford the median-priced home in Mundelein at $243,000. The median household income in Mundelein is $56,000. This means most households would need to either earn above the median or consider homes below $243,000.
Is Mundelein a good place to buy a home in 2026?
Mundelein offers a below-average cost of living with a cost of living index of 86 (national average = 100). The property tax rate in Illinois is 2.1%, which is above the national average. Mundelein has a population of 31,064 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 Mundelein, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.