2024 FHA Loan Limits in Illinois
Timothy Manni started his career as a writer, but for the better part of the last 15 years he has been an editor and content team leader in the mortgage and home buying space. For six years, he lead the Mortgage Content team at NerdWallet, and before that he was the managing editor at HSH.com. Currently, he’s utilizing his years of expertise to help websites like LendingTree, Yahoo Finance and MoneyGeek elevate the information they are sharing with consumers.
Illinois homebuyers who are considering applying for home loan backed by the Federal Housing Administration (FHA) should know there are limits on how much they can borrow. The FHA loan limit for a single-family home in Illinois is $498,257 across all counties in the state. While your credit score doesn’t have to be good to qualify, there are some specific requirements involving mortgage insurance and appraisals, among other things.
Illinois FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADAMS | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| ALEXANDER | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| BOND | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| BOONE | $498,257 | $637,950 | $771,125 | $958,350 | $206,000 |
| BROWN | $498,257 | $637,950 | $771,125 | $958,350 | $73,000 |
| BUREAU | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| CARROLL | $498,257 | $637,950 | $771,125 | $958,350 | $87,000 |
| CASS | $498,257 | $637,950 | $771,125 | $958,350 | $70,000 |
| CHAMPAIGN | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| CHRISTIAN | $498,257 | $637,950 | $771,125 | $958,350 | $83,000 |
| CLARK | $498,257 | $637,950 | $771,125 | $958,350 | $87,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $77,000 |
| CLINTON | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| COLES | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| COOK | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| CRAWFORD | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| CUMBERLAND | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| DE WITT | $498,257 | $637,950 | $771,125 | $958,350 | $91,000 |
| DEKALB | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| DOUGLAS | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| DUPAGE | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| EDGAR | $498,257 | $637,950 | $771,125 | $958,350 | $49,000 |
| EDWARDS | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| EFFINGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| FAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| FORD | $498,257 | $637,950 | $771,125 | $958,350 | $107,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $101,000 |
| FULTON | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| GALLATIN | $498,257 | $637,950 | $771,125 | $958,350 | $74,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| GRUNDY | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| HAMILTON | $498,257 | $637,950 | $771,125 | $958,350 | $40,000 |
| HANCOCK | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| HARDIN | $498,257 | $637,950 | $771,125 | $958,350 | $33,000 |
| HENDERSON | $498,257 | $637,950 | $771,125 | $958,350 | $188,000 |
| HENRY | $498,257 | $637,950 | $771,125 | $958,350 | $195,000 |
| IROQUOIS | $498,257 | $637,950 | $771,125 | $958,350 | $103,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| JASPER | $498,257 | $637,950 | $771,125 | $958,350 | $79,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| JERSEY | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| JO DAVIESS | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| JOHNSON | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| KANE | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| KANKAKEE | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| KENDALL | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| KNOX | $498,257 | $637,950 | $771,125 | $958,350 | $91,000 |
| LAKE | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| LASALLE | $498,257 | $637,950 | $771,125 | $958,350 | |
| LAWRENCE | $498,257 | $637,950 | $771,125 | $958,350 | $55,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| LIVINGSTON | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| LOGAN | $498,257 | $637,950 | $771,125 | $958,350 | $96,000 |
| MACON | $498,257 | $637,950 | $771,125 | $958,350 | $109,000 |
| MACOUPIN | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $72,000 |
| MARSHALL | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| MASON | $498,257 | $637,950 | $771,125 | $958,350 | $72,000 |
| MASSAC | $498,257 | $637,950 | $771,125 | $958,350 | $153,000 |
| MCDONOUGH | $498,257 | $637,950 | $771,125 | $958,350 | $74,000 |
| MCHENRY | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| MCLEAN | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| MENARD | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| MERCER | $498,257 | $637,950 | $771,125 | $958,350 | $195,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| MORGAN | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| MOULTRIE | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| OGLE | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| PEORIA | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| PERRY | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| PIATT | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| PIKE | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| POPE | $498,257 | $637,950 | $771,125 | $958,350 | $44,000 |
| PULASKI | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| PUTNAM | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| RANDOLPH | $498,257 | $637,950 | $771,125 | $958,350 | $93,000 |
| RICHLAND | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| ROCK ISLAND | $498,257 | $637,950 | $771,125 | $958,350 | $195,000 |
| SALINE | $498,257 | $637,950 | $771,125 | $958,350 | $58,000 |
| SANGAMON | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| SCHUYLER | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| SCOTT | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| SHELBY | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| ST. CLAIR | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| STARK | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| STEPHENSON | $498,257 | $637,950 | $771,125 | $958,350 | $133,000 |
| TAZEWELL | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| UNION | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| VERMILION | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| WABASH | $498,257 | $637,950 | $771,125 | $958,350 | $102,000 |
| WARREN | $498,257 | $637,950 | $771,125 | $958,350 | $87,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $66,000 |
| WHITE | $498,257 | $637,950 | $771,125 | $958,350 | $74,000 |
| WHITESIDE | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| WILL | $498,257 | $637,950 | $771,125 | $958,350 | $400,000 |
| WILLIAMSON | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| WINNEBAGO | $498,257 | $637,950 | $771,125 | $958,350 | $206,000 |
| WOODFORD | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
How are FHA loan limits determined?
FHA loan limits are adjusted annually based on changes to home prices. The National Housing Act sets FHA loan limits to be calculated as a percentage of the conforming loan limit amounts.
The lowest max amount you can borrow with an FHA loan is called the “floor,” and is 65% of the 2024 conforming loan limit of $766,550, or $498,257. The highest FHA loan limit is referred to as the “ceiling,” and is 150% of the conforming loan limit, or $1,149,825 f in pricier counties.
How to qualify for an FHA loan in Illinois
There are certain eligibility requirements for Illinois homebuyers interested in applying for FHA loans. All applicants must meet the following minimum requirements:
→ Credit score and down payment: You’ll need at least a 580 credit score to make a 3.5% down payment. However, you can get approved with a score as low as 500 with a 10% down payment.
→ Income history: FHA loan lenders will want to see employment and income history for the last two years to ensure stability.
→ Debt-to-income ratio: Lenders will look at your debt-to-income (DTI) ratio (total monthly debt payments divided by pre-taxed monthly income ) to help determine whether you can afford a loan and be able to make monthly payments.
→ Primary residence: FHA loans must be used for a primary residence and not for vacation homes or rentals.
→ Home appraisal: The property must pass an FHA appraisal and inspection to determine the value of the home and ensure that it’s livable.
→ Mortgage insurance: Two types of FHA mortgage insurance premiums are required: an upfront premium due at closing and an annual premium that is added to your monthly payment.
Buying a multifamily property with an FHA loan
A multifamily home of two to four units can also be purchased through the FHA program with the same qualifications as a single-family property. While qualifications can vary amongst lenders, to be eligible, the most basic requirements usually include:
- A credit score of at least 580 for a 3.5% down payment
- Proof of steady income
- Debt-to-income ratio under 43%
- Primary residence for at least a year and live in one of the units
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Illinois
Lender | LendingTree rating | Min. FHA credit score | |
|---|---|---|---|
 | 580 | ||
 | Not disclosed | ||
 | 580 | ||
 | 580 | ||
 | 580 |
