2021 FHA Loan Limits in Illinois
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The federal government has set the maximum amount an Illinoisan homebuyer can borrow with an FHA loan between $356,362 and $379,500 for a single-family home, depending on which county the property is located in. The lower number applies to most of the state, but Chicagoland homebuyers might be able to qualify for nearly $380,000.
Dreaming about buying a house in Illinois? This may be the perfect time to make the leap. And thanks to the Federal Housing Administration (FHA), some Illinoisans can qualify for federally backed loans to help get them into a new house. This year, residents will be able to borrow even more with an FHA loan in some areas to make their homebuying dreams come true.
Illinois FHA loan limits by county
| FHA Loan Limits in Illinois | |||||
| County Name | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
| Adams | $356,362 | $456,275 | $551,500 | $685,400 | $120,000 |
| Brown | $356,362 | $456,275 | $551,500 | $685,400 | $84,000 |
| Bureau | $356,362 | $456,275 | $551,500 | $685,400 | $114,000 |
| Cass | $356,362 | $456,275 | $551,500 | $685,400 | $60,000 |
| Champaign | $356,362 | $456,275 | $551,500 | $685,400 | $168,000 |
| Clark | $356,362 | $456,275 | $551,500 | $685,400 | $85,000 |
| Clay | $356,362 | $456,275 | $551,500 | $685,400 | $65,000 |
| Cook | $379,500 | $485,800 | $587,250 | $729,800 | $330,000 |
| Crawford | $356,362 | $456,275 | $551,500 | $685,400 | $71,000 |
| De Witt | $356,362 | $456,275 | $551,500 | $685,400 | $75,000 |
| Edwards | $356,362 | $456,275 | $551,500 | $685,400 | $43,000 |
| Effingham | $356,362 | $456,275 | $551,500 | $685,400 | $119,000 |
| Fayette | $356,362 | $456,275 | $551,500 | $685,400 | $60,000 |
| Fulton | $356,362 | $456,275 | $551,500 | $685,400 | $146,000 |
| Gallatin | $356,362 | $456,275 | $551,500 | $685,400 | $45,000 |
| Grundy | $379,500 | $485,800 | $587,250 | $729,800 | $330,000 |
| Hamilton | $356,362 | $456,275 | $551,500 | $685,400 | $50,000 |
| Henderson | $356,362 | $456,275 | $551,500 | $685,400 | $89,000 |
| Henry | $356,362 | $456,275 | $551,500 | $685,400 | $166,000 |
| Jackson | $356,362 | $456,275 | $551,500 | $685,400 | $106,000 |
| Jasper | $356,362 | $456,275 | $551,500 | $685,400 | $61,000 |
| Jefferson | $356,362 | $456,275 | $551,500 | $685,400 | $83,000 |
| Jo Daviess | $356,362 | $456,275 | $551,500 | $685,400 | $141,000 |
| Johnson | $356,362 | $456,275 | $551,500 | $685,400 | $106,000 |
| Kane | $379,500 | $485,800 | $587,250 | $729,800 | $330,000 |
| Kankakee | $356,362 | $456,275 | $551,500 | $685,400 | $135,000 |
| Lasalle | $356,362 | $456,275 | $551,500 | $685,400 | $114,000 |
| Macon | $356,362 | $456,275 | $551,500 | $685,400 | $94,000 |
| Macoupin | $356,362 | $456,275 | $551,500 | $685,400 | $261,000 |
| Marshall | $356,362 | $456,275 | $551,500 | $685,400 | $146,000 |
| Mchenry | $379,500 | $485,800 | $587,250 | $729,800 | $330,000 |
| Mclean | $356,362 | $456,275 | $551,500 | $685,400 | $163,000 |
| Mercer | $356,362 | $456,275 | $551,500 | $685,400 | $166,000 |
| Monroe | $356,362 | $456,275 | $551,500 | $685,400 | $261,000 |
| Pulaski | $356,362 | $456,275 | $551,500 | $685,400 | $70,000 |
| Putnam | $356,362 | $456,275 | $551,500 | $685,400 | $114,000 |
| Randolph | $356,362 | $456,275 | $551,500 | $685,400 | $78,000 |
| Scott | $356,362 | $456,275 | $551,500 | $685,400 | $93,000 |
| Shelby | $356,362 | $456,275 | $551,500 | $685,400 | $75,000 |
| St. Clair | $356,362 | $456,275 | $551,500 | $685,400 | $261,000 |
| Stark | $356,362 | $456,275 | $551,500 | $685,400 | $146,000 |
| Stephenson | $356,362 | $456,275 | $551,500 | $685,400 | $106,000 |
| Union | $356,362 | $456,275 | $551,500 | $685,400 | $111,000 |
| Wabash | $356,362 | $456,275 | $551,500 | $685,400 | $88,000 |
| Washington | $356,362 | $456,275 | $551,500 | $685,400 | $120,000 |
| Wayne | $356,362 | $456,275 | $551,500 | $685,400 | $50,000 |
| White | $356,362 | $456,275 | $551,500 | $685,400 | $49,000 |
| Whiteside | $356,362 | $456,275 | $551,500 | $685,400 | $86,000 |
| Winnebago | $356,362 | $456,275 | $551,500 | $685,400 | $175,000 |
| Woodford | $356,362 | $456,275 | $551,500 | $685,400 | $146,000 |
How are FHA loan limits determined?
The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.
The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.
The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.
Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.
Here are the 2021 standard FHA limits for all property types:
- One-unit: $356,362
- Two-unit: $456,275
- Three-unit: $551,500
- Four-unit: $685,400
Here are the 2021 standard FHA limits for high-cost areas:
- One-unit: $822,375
- Two-unit: $1,053,000
- Three-unit: $1,272,750
- Four-unit: $1,581,750
Do you qualify for an FHA loan in Illinois?
FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.
