The state of Illinois outlined with the state flag overlaid on top of it


VA Loans in Illinois

The VA Loan is one of the most powerful tools available exclusively for military families and veterans. In Illinois, veterans and active-duty military have been taking advantage of the benefits of the VA Loan in cities such as Chicago, Aurora, Joliet, Naperville, and Rockford.

The cost of homes across the United States has been steadily increasing in recent years. With a $0 down payment requirement, no PMI, lower interest rates, and a more relaxed credit score requirement, the VA Loan is making homeownership a reality for more military families and veterans in Illinois now than ever before. 

Median Sale Price of Homes in Illinois*











Illinois Statewide Average


*Data pulled from Redfin (October 2022)


Property Taxes in Illinois

In the state of Illinois, property taxes are the second-highest in the country with a statewide average effective tax rate at 2.16%, more than double the national average, according to SmartAsset. In most counties across Illinois, property taxes are paid in two installments, typically on June 1 and September 1. There are several tax exemptions in Illinois that you may be eligible to take advantage of including for senior citizens, disabled veterans, and more.

VA Disability in Illinois

Common property tax exemptions are reserved for veterans, disabled veterans, seniors over the age of 65, and more. Since these exemptions can vary by county and state and often have strict qualification standards, not every veteran or homeowner qualifies, but those that do are able to reap the benefits of significant savings.

Eligible disabled veterans in Illinois with a 30%-50% disability rating as a result of their service may receive a property tax exemption of $2,500 of the total assessed value of their home. Veterans that have a disability rating of 50%-70% can get a property tax exception of $5,000 and those with 70% or more pay no property tax. Some returning veterans may also be able to receive a $5,000 reduction on the assessed value of their property.

Since these rates can vary based on location (i.e., exemptions in Chicago may be different from those in Aurora or Joliet), you’ll want to contact your local municipal tax assessor’s office.

Insurance Programs in Illinois

Natural disasters can happen anytime and are often unexpected or occur suddenly which makes it critical that you and your family are sufficiently covered. The most common natural disasters in Illinois that homeowners are insured against include tornadoes, floods, and hail. The best way to ensure you’re getting the best coverage for your location; we recommend you consult with a licensed insurance company.

Military Presence in Illinois

Illinois is home to three military bases, one Army, one Air Force, and one Navy base (even though Illinois does not border an ocean, the Navy uses the Great Lakes for training). With thousands employed across these three bases and even more veterans calling this state home, it’s safe to say there is a large military presence in the state of Illinois. 

VA Home Loan Volume in 2021 in Illinois*

Total Loans


Average Loan Amount


Total Loan Amount (ALL)


Total Purchase Loans


Total Purchase Loans %


Total IRRRL Loans


Total IRRRL Loans %


Total Cash-Out Loans


Total Cash-Out Loans %


*Data pulled from the Department of Veterans Affairs (April 2022)

FAQ’s about VA Loans in Illinois

How do I buy a house in Illinois? The best way to get started is to give us a call or fill out this form to get started!

How do I find more information about property taxes and exemptions for veterans in Illinois? Click here to read more details regarding major property tax exemptions in every state.

What are the average interest rates in Illinois? Interest rates for VA Loans are often lower than the national average rates for conventional loans. Click here to learn more about interest rates.