62286, Sparta, IL

The home equity and home prices in the 62286 zip code of Sparta, IL are reflective of the overall market conditions in the area. Over the past five years, home values have increased by an average of 2.5% annually. This is slightly slower than the national average of 2.7%, but still represents a healthy return on investment for those who are able to purchase and hold onto their homes.

One important factor to consider when purchasing a home is your down payment percentage. In Sparta, down payment percentages range from 5% to 20%. This means that even if you don't have all of the money up front, you can still qualify for a mortgage and purchase a home.

Another important consideration is your credit score. Your credit score will impact your interest rate and other loan terms, so it's important to maintain a good credit history. The Sparta area has an average credit score of 740 which is above the national average of 720.