2019 FHA Loan Limits in Illinois
In Illinois, FHA loan limits for a single-family home range from $314,827 across much of the state to $368,000 in some Chicago-area counties.
If you’re on the hunt for a house in Illinois, there’s both good news and bad news. The good news? You might face less competition from other homebuyers than you’d have in many other parts of the country.
Due to a slow recovery after the Great Recession, sales in the Prairie State are more sluggish than in other U.S. markets. Illinois home prices have been on the rise since 2013, but as of 2016, they were still 10 percent lower than before the recession, according to data from the Federal Housing Finance Agency. High property taxes have pushed many buyers out of the market, making it easier for those who can swing the tax bill to grab their dream home at an affordable price.
While other big U.S. cities boast rising prices and bidding wars, the housing market languishes in Chicago, the third-largest city in the country. In fact, Realtor.com predicts the city’s housing market will come in dead last out of 100 major metro areas in 2019. Chicago is expected to see a 7.4 percent decrease in existing home sales, compared with an average 2 percent drop across the country, and a 1.9 percent fall in home prices.
The median sales price in Illinois in 2018 was $205,000 for single-family homes, according to Illinois Realtors.
In 2016, the most recent year for which this data is available, 43,332 FHA loans were made in Illinois for a total of $7.5 billion. In 2018, 3.61 percent of FHA loans were issued in Illinois, and Illinois made the list of top 10 states for FHA loans.
Illinois FHA loan limits by county
| FHA Loan Limits in Illinois | |||||
| County | Single-Family Limit | Two-Family Limit | Three-Family Limit | Four-Family Limit | Median Sale Price |
| Adams | $314,827 | $403,125 | $487,250 | $605,525 | $105,000 |
| Alexander | $314,827 | $403,125 | $487,250 | $605,525 | $163,000 |
| Bond | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Boone | $339,250 | $434,300 | $524,950 | $652,400 | $180,000 |
| Brown | $314,827 | $403,125 | $487,250 | $605,525 | $92,000 |
| Bureau | $314,827 | $403,125 | $487,250 | $605,525 | $125,000 |
| Calhoun | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Carroll | $314,827 | $403,125 | $487,250 | $605,525 | $73,000 |
| Cass | $314,827 | $403,125 | $487,250 | $605,525 | $81,000 |
| Champaign | $314,827 | $403,125 | $487,250 | $605,525 | $153,000 |
| Christian | $314,827 | $403,125 | $487,250 | $605,525 | $78,000 |
| Clark | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
| Clay | $314,827 | $403,125 | $487,250 | $605,525 | $65,000 |
| Clinton | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Coles | $314,827 | $403,125 | $487,250 | $605,525 | $96,000 |
| Cook | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Crawford | $314,827 | $403,125 | $487,250 | $605,525 | $60,000 |
| Cumberland | $314,827 | $403,125 | $487,250 | $605,525 | $96,000 |
| De Witt | $314,827 | $403,125 | $487,250 | $605,525 | $160,000 |
| Dekalb | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Douglas | $314,827 | $403,125 | $487,250 | $605,525 | $107,000 |
| Dupage | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Edgar | $314,827 | $403,125 | $487,250 | $605,525 | $83,000 |
| Edwards | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
| Effingham | $314,827 | $403,125 | $487,250 | $605,525 | $121,000 |
| Fayette | $314,827 | $403,125 | $487,250 | $605,525 | $86,000 |
| Ford | $314,827 | $403,125 | $487,250 | $605,525 | $153,000 |
| Franklin | $314,827 | $403,125 | $487,250 | $605,525 | $72,000 |
| Fulton | $314,827 | $403,125 | $487,250 | $605,525 | $58,000 |
| Gallatin | $314,827 | $403,125 | $487,250 | $605,525 | $31,000 |
| Greene | $314,827 | $403,125 | $487,250 | $605,525 | $81,000 |
| Grundy | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Hamilton | $314,827 | $403,125 | $487,250 | $605,525 | $99,000 |
| Hancock | $314,827 | $403,125 | $487,250 | $605,525 | $94,000 |
| Hardin | $314,827 | $403,125 | $487,250 | $605,525 | $71,000 |
| Henderson | $314,827 | $403,125 | $487,250 | $605,525 | $88,000 |
| Henry | $314,827 | $403,125 | $487,250 | $605,525 | $155,000 |
| Iroquois | $314,827 | $403,125 | $487,250 | $605,525 | $100,000 |
| Jackson | $314,827 | $403,125 | $487,250 | $605,525 | $93,000 |
| Jasper | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
| Jefferson | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
| Jersey | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Jo Daviess | $314,827 | $403,125 | $487,250 | $605,525 | $113,000 |
| Johnson | $314,827 | $403,125 | $487,250 | $605,525 | $101,000 |
| Kane | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Kankakee | $314,827 | $403,125 | $487,250 | $605,525 | $135,000 |
| Kendall | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Knox | $314,827 | $403,125 | $487,250 | $605,525 | $72,000 |
| Lake | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Lasalle | $314,827 | $403,125 | $487,250 | $605,525 | $125,000 |
| Lawrence | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
| Lee | $314,827 | $403,125 | $487,250 | $605,525 | $91,000 |
| Livingston | $314,827 | $403,125 | $487,250 | $605,525 | $116,000 |
| Logan | $314,827 | $403,125 | $487,250 | $605,525 | $83,000 |
| Macon | $314,827 | $403,125 | $487,250 | $605,525 | $90,000 |
| Macoupin | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Madison | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Marion | $314,827 | $403,125 | $487,250 | $605,525 | $51,000 |
| Marshall | $314,827 | $403,125 | $487,250 | $605,525 | $138,000 |
| Mason | $314,827 | $403,125 | $487,250 | $605,525 | $87,000 |
| Massac | $314,827 | $403,125 | $487,250 | $605,525 | $140,000 |
| Mcdonough | $314,827 | $403,125 | $487,250 | $605,525 | $98,000 |
| Mchenry | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Mclean | $314,827 | $403,125 | $487,250 | $605,525 | $160,000 |
| Menard | $314,827 | $403,125 | $487,250 | $605,525 | $134,000 |
| Mercer | $314,827 | $403,125 | $487,250 | $605,525 | $155,000 |
| Monroe | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Montgomery | $314,827 | $403,125 | $487,250 | $605,525 | $64,000 |
| Morgan | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
| Moultrie | $314,827 | $403,125 | $487,250 | $605,525 | $85,000 |
| Ogle | $314,827 | $403,125 | $487,250 | $605,525 | $124,000 |
| Peoria | $314,827 | $403,125 | $487,250 | $605,525 | $138,000 |
| Perry | $314,827 | $403,125 | $487,250 | $605,525 | $66,000 |
| Piatt | $314,827 | $403,125 | $487,250 | $605,525 | $153,000 |
| Pike | $314,827 | $403,125 | $487,250 | $605,525 | $79,000 |
| Pope | $314,827 | $403,125 | $487,250 | $605,525 | $96,000 |
| Pulaski | $314,827 | $403,125 | $487,250 | $605,525 | $64,000 |
| Putnam | $314,827 | $403,125 | $487,250 | $605,525 | $125,000 |
| Randolph | $314,827 | $403,125 | $487,250 | $605,525 | $76,000 |
| Richland | $314,827 | $403,125 | $487,250 | $605,525 | $89,000 |
| Rock Island | $314,827 | $403,125 | $487,250 | $605,525 | $155,000 |
| Saline | $314,827 | $403,125 | $487,250 | $605,525 | $50,000 |
| Sangamon | $314,827 | $403,125 | $487,250 | $605,525 | $134,000 |
| Schuyler | $314,827 | $403,125 | $487,250 | $605,525 | $84,000 |
| Scott | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
| Shelby | $314,827 | $403,125 | $487,250 | $605,525 | $65,000 |
| St. Clair | $314,827 | $403,125 | $487,250 | $605,525 | $236,000 |
| Stark | $314,827 | $403,125 | $487,250 | $605,525 | $138,000 |
| Stephenson | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
| Tazewell | $314,827 | $403,125 | $487,250 | $605,525 | $138,000 |
| Union | $314,827 | $403,125 | $487,250 | $605,525 | $99,000 |
| Vermilion | $314,827 | $403,125 | $487,250 | $605,525 | $45,000 |
| Wabash | $314,827 | $403,125 | $487,250 | $605,525 | $84,000 |
| Warren | $314,827 | $403,125 | $487,250 | $605,525 | $73,000 |
| Washington | $314,827 | $403,125 | $487,250 | $605,525 | $114,000 |
| Wayne | $314,827 | $403,125 | $487,250 | $605,525 | $28,000 |
| White | $314,827 | $403,125 | $487,250 | $605,525 | $73,000 |
| Whiteside | $314,827 | $403,125 | $487,250 | $605,525 | $84,000 |
| Will | $368,000 | $471,100 | $569,450 | $707,700 | $320,000 |
| Williamson | $314,827 | $403,125 | $487,250 | $605,525 | $93,000 |
| Winnebago | $339,250 | $434,300 | $524,950 | $652,400 | $180,000 |
| Woodford | $314,827 | $403,125 | $487,250 | $605,525 | $138,000 |
How are FHA loan limits determined?
The FHA places limits on the sizes of mortgages it insures. The minimum loan limit is referred to as a floor, while the maximum loan limit is known as a ceiling and represents the largest loan the FHA is willing to insure in high-cost areas.
The baseline conforming loan limit, which dictates how large of a loan Fannie Mae and Freddie Mac will purchase, determines FHA loan limits. In 2019, $484,350 is where the national conforming loan limit begins. This is up from $453,100 in 2018.
$314,827 is the 2019 FHA floor, and it represents 65 percent of the conforming limit. The floor is up from $294,515 in 2018.
The FHA ceiling is 115 percent of the median house price in a certain county or metropolitan statistical area. If the median house price is greater than the $484,350 baseline, the ceiling for a single-unit home is $726,525, or 150 percent of the baseline. This is up from $679,650 in 2018.
Here are the 2019 standard FHA limits for all property types:
- One-unit: $314,827
- Two-unit: $403,125
- Three-unit: $487,250
- Four-unit: $605,525
Here are the 2019 standard FHA limits for high-cost areas:
- One-unit: $726,525
- Two-unit: $930,300
- Three-unit: $1,124,475
- Four-unit: $1,397,400
Do you qualify for an FHA loan in Illinois?
FHA loans offer an affordable way to buy a home and put less of your own cash into a down payment if you meet requirements. If you’ve got a credit score of 580 or higher, you may qualify for the low down payment option of 3.5 percent. If you have a lower score, you may still qualify but with a higher down payment. Do you think an FHA loan might be your ticket to homeownership? Find out more about credit score, income and other requirements through our guide to FHA loans.
