Illinois FHA Loan Rates, Closing Costs & Stats

Illinois

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Illinois FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Illinois averaged 6.17% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Illinois's average FHA mortgage closing costs are $7,717.

The average rate for the prior week (2023-05-19) was 5.94% and one month ago for the week of 2023-04-21, the average rate was 5.98%.

The average rate one year ago was 5%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.15%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Illinois FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Illinois level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 2,438 4.60% $8,585
LOANDEPOT.COM, LLC 1,828 5.14% $11,314
GUARANTEED RATE, INC. 1,629 5.07% $10,473
UNITED WHOLESALE MORTGAGE, LLC 1,336 4.99% $10,282
CALIBER HOME LOANS, INC. 1,277 4.91% $8,873
CROSSCOUNTRY MORTGAGE, LLC 1,225 5.23% $11,454
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,092 5.28% $9,919
Neighborhood Loans, Inc. 895 5.27% $11,613
AMERICAN PACIFIC MORTGAGE CORPORATION 692 5.17% $10,915
FLAT BRANCH MORTGAGE, INC. 672 5.28% $5,336
FIRST CENTENNIAL MORTGAGE CORPORATION 577 5.09% $9,809
FREEDOM MORTGAGE CORPORATION 516 4.82% $9,641
The Federal Savings Bank 469 5.03% $11,474
BROKER SOLUTIONS, INC. 464 5.39% $8,274
CARDINAL FINANCIAL 411 5.00% $11,489
HOME POINT FINANCIAL CORPORATION 390 4.48% $9,876
PENNYMAC LOAN SERVICES, LLC 385 4.26% $7,756
Barrington Bank & Trust Company, N.A. 377 5.10% $10,346
Mr. Cooper ( Nationstar Mortgage ) 365 4.37% $9,280
COMPASS MORTGAGE, INC. 359 5.04% $10,895
AMERISAVE MORTGAGE CORPORATION 342 4.63% $10,119
Flagstar Bank, FSB 334 5.00% $9,066
Hometown Lenders, Inc. 290 5.25% $10,895
Carrington Mortgage Services, LLC 266 5.02% $9,513
PLAZA HOME MORTGAGE, INC. 255 4.99% $9,988
AMERICAN PORTFOLIO MORTGAGE CORPORATION 246 4.73% $9,837
JPMorgan Chase Bank 241 5.05% $6,260
The Huntington National Bank 236 4.78% $10,271
GUARANTEED RATE AFFINITY, LLC 228 5.08% $11,485
LEADERONE FINANCIAL CORPORATION 216 5.10% $10,303
GERSHMAN INVESTMENT CORP. 209 5.21% $5,587
U.S. Bank 209 5.03% $6,259
MOVEMENT MORTGAGE, LLC 208 4.90% $11,227
BAY EQUITY LLC 198 5.10% $12,405
DAS Acquisition Company, LLC 190 5.51% $7,769
Key Mortgage Services, Inc. 189 5.03% $10,836
ENVOY MORTGAGE, LTD 189 5.26% $7,928
NEWREZ LLC 185 4.78% $7,624
MUTUAL OF OMAHA MORTGAGE, INC. 182 5.12% $10,905
LAKEVIEW LOAN SERVICING, LLC 179 3.98% $6,024
FIRST STATE MORTGAGE SERVICES, LLC 167 5.10% $6,358
CMG MORTGAGE, INC. 160 4.69% $9,242
HOMEBRIDGE FINANCIAL SERVICES, INC. 157 4.82% $13,504
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 156 5.20% $8,859
United Fidelity Funding Corp. 155 5.49% $10,709
Plains Commerce Bank 141 5.24% $10,885
PNC Bank 140 4.64% $5,906
DHI MORTGAGE COMPANY, LTD. 140 4.05% $7,273
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 137 4.95% $9,515
HOMESIDE FINANCIAL, LLC 134 4.99% $9,161
OCMBC, INC. 134 5.04% $11,899
DRAPER AND KRAMER MORTGAGE CORP. 127 5.11% $9,610
ENDEAVOR CAPITAL, LLC. 127 5.13% $6,474
DELMAR FINANCIAL COMPANY 119 5.24% $6,826
EAGLE HOME MORTGAGE, LLC 118 4.70% $10,880
Equity Prime Mortgage LLC 115 5.44% $9,342
PLANET HOME LENDING, LLC 114 4.93% $9,107
Paramount Residential Mortgage Group, Inc. 110 4.98% $9,861
CHERRY CREEK MORTGAGE, LLC 108 5.37% $4,624
Regions Bank 108 4.99% $5,666
The Home Loan Expert LLC 105 4.84% $10,067
Lakeview Community Capital, LLC 105 3.86% $5,875
Midwest Community Bank 105 4.05% $6,852
Midland States Bank 98 5.16% $6,535
Flanagan State Bank 98 5.16% $6,731
Waterstone Mortgage Corporation 98 5.14% $8,880
Nations Lending Corporation 96 5.72% $9,505
PRIMELENDING, A PLAINSCAPITAL COMPANY 95 4.97% $8,967
United Community Bank 83 5.36% $4,688
CIBC Bank USA 81 4.84% $10,881
INLANTA MORTGAGE, INC. 79 4.90% $10,881
FINANCE OF AMERICA MORTGAGE LLC 78 4.49% $9,089
GUILD MORTGAGE COMPANY 78 5.11% $7,026
Mortgage Research Center, LLC 76 5.22% $6,181
UNION HOME MORTGAGE CORP. 76 5.25% $11,505
GENEVA FINANCIAL, LLC 73 5.31% $12,328
Carrollton Bank 72 5.15% $5,614
NVR Mortgage Finance, Inc. 70 4.50% $11,365
Fifth Third Bank 69 5.02% $7,638
Bank of America 68 3.97% $6,766
AmRes Corporation 65 4.86% $11,383
Busey Bank 64 4.69% $5,085
EVERETT FINANCIAL, INC. 64 5.39% $7,596
INLAND BANK & TRUST 64 5.42% $8,855
VILLAGE CAPITAL MORTGAGE 63 3.48% $3,788
Citizens Bank 62 4.71% $6,163
JLB CORPORATION 61 4.63% $7,151
M/I FINANCIAL, LLC 60 4.49% $11,315
Associated Bank 59 4.80% $7,776
PROPER RATE, LLC 58 4.87% $10,633
INB 58 5.04% $5,078
First Guaranty Mortgage Corporation 56 3.67% $8,573
SUCCESS MORTGAGE PARTNERS, INC. 55 4.83% $9,958
Century Mortgage Company DBA Century Lending Company 53 5.12% $10,172
Servion, Inc. 52 4.85% $6,713
T2 FINANCIAL LLC 52 4.67% $13,224
ACADEMY MORTGAGE CORPORATION 51 5.31% $8,578
Town & Country Banc Mortgage Services, Inc. 51 4.97% $4,834
Pacor Mortgage Corp 49 4.72% $9,456
BMO Harris Bank 49 5.43% $9,786
RUHL MORTGAGE, LLC 49 4.75% $4,384
Wells Fargo Bank 48 4.88% $5,540
First Option Mortgage, LLC 48 5.35% $8,271
ARK-LA-TEX FINANCIAL SERVICES, LLC. 48 5.33% $9,686
Blackhawk Bank 45 5.08% $6,975
SUN WEST MORTGAGE COMPANY, INC. 42 5.22% $11,105
NATIONS RELIABLE LENDING, LLC 41 5.48% $12,944
AMERICAN FINANCING CORPORATION 39 4.66% $8,280
BLUELEAF LENDING, LLC 38 4.17% $9,927
Midwest BankCentre 38 4.71% $5,282
Mutual Federal Bank 37 4.72% $11,091
Ixonia Bank 36 5.04% $8,248
BECKAM FUNDING CORP. 35 6.15% $17,338
NATIONS DIRECT MORTGAGE, LLC 35 4.74% $10,434
First National Bank of Omaha 34 4.92% $7,260
M&T Bank 34 4.63% $7,532
Old National Bank 33 5.01% $7,799
Platinum Home Mortgage Corporation 32 5.04% $12,280
CIBM Bank 32 4.89% $8,210
FCB Banks 31 4.93% $5,198
Fortress Bank 30 5.15% $3,945
THE ANDERSON FINANCIAL GROUP, INC. 30 5.12% $10,305
GREENSTATE CREDIT UNION 29 6.20% $8,546
MLB RESIDENTIAL LENDING, LLC 29 5.04% $13,568
SCOTT CREDIT UNION 29 4.61% $5,552
RUOFF MORTGAGE COMPANY, INC. 29 5.05% $4,171
GMFS LLC 29 4.95% $6,026
Marquette Bank 28 4.60% $8,027
VAN DYK MORTGAGE CORPORATION 28 4.99% $9,514
CROWN MORTGAGE COMPANY 28 5.21% $12,860
ZILLOW HOME LOANS, LLC 25 5.41% $10,648
ROYAL UNITED MORTGAGE LLC 25 5.10% $8,469
Home State Bank 25 4.65% $9,098
Paramount Bank 23 5.29% $9,973
MORIA DEVELOPMENT, INC. 23 4.86% $10,566
DIRECT MORTGAGE LOANS, LLC 23 5.53% $12,841
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 22 5.01% $10,627
Prosperity Home Mortgage, LLC 22 4.94% $11,153
Allied First Bank,sb 22 5.10% $10,307
BNC National Bank 21 4.92% $6,824
Bank of Springfield 21 4.68% $4,978
NETWORK CAPITAL FUNDING CORPORATION 20 5.29% $9,049
Marine Bank 19 4.89% $4,964
AmeriHome Mortgage Company, LLC 19 4.88% $8,959
TOWNE MORTGAGE COMPANY 19 4.93% $12,309
NORTHWEST BANK OF ROCKFORD 19 5.05% $5,749
MLD MORTGAGE INC. 19 5.73% $10,859
PRIMARY RESIDENTIAL MORTGAGE, INC. 18 5.59% $9,699
PHH Mortgage Corporation 17 4.60% $8,550
MID AMERICA MORTGAGE, INC. 17 5.77% $10,639
HOMESTAR FINANCIAL CORPORATION 17 4.49% $9,329
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 17 5.40% $6,850
Old Second National Bank 17 4.35% $8,317
STOCKTON MORTGAGE CORPORATION 17 4.41% $17,399
American Bank and Trust Company 16 5.20% $6,186
LAND HOME FINANCIAL SERVICES, INC. 16 5.33% $9,874
Hometown Equity Mortgage, LLC 15 4.45% $13,070
FRONTIER FINANCIAL, INC. 15 5.20% $5,390
Bank of England 15 5.32% $9,583
ARC HOME LLC 15 4.72% $11,408
UNITED HOME LOANS, INC. 15 4.66% $10,923
NFM, INC. 14 5.65% $8,421
NBKC BANK 13 4.53% $9,518
MICHIGAN MUTUAL, INC. 13 5.24% $10,337
Chicago Financial Services, Inc. 13 5.48% $9,963
AMERICAN FINANCIAL RESOURCES, INC. 12 5.33% $10,419
First Federal Bank 12 4.39% $7,741
SUMMIT FUNDING, INC. 11 4.33% $13,336
Wyndham Capital Mortgage, Inc. 11 5.10% $8,896
FIRST COMMUNITY MORTGAGE, INC. 10 5.75% $12,361
Gold Coast Bank 10 4.67% $10,462
Citibank 10 5.03% $9,665
MIDLAND MORTGAGE CORPORATION 10 5.10% $11,115
First Savings Bank 10 5.24% $11,649
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 10 4.89% $13,999
D.W. BROWN MORTGAGE CORP. 10 4.95% $2,877
RESIDENTIAL BANCORP. 10 4.96% $11,507
First Midwest Bank 9 3.00% $8,450
CHURCHILL MORTGAGE CORPORATION 9 4.88% $9,188
EMBRACE HOME LOANS, INC. 9 5.18% $9,448
First Federal Savings Bank 9 5.03% $5,911
KELLER MORTGAGE, LLC 9 5.39% $7,686
LIBERTY HOME MORTGAGE CORPORATION 9 6.01% $12,109
Magnolia Bank 9 5.18% $6,464
Princeton Mortgage Corporation 9 5.08% $14,139
MYCUMORTGAGE, LLC 8 4.38% $10,198
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 5.41% $12,672
Stillman BancCorp N.A. 8 4.42% $5,848
NP, Inc. 7 4.61% $6,150
TOP FLITE FINANCIAL, INC. 7 5.32% $8,739
SOVEREIGN LENDING GROUP INCORPORATED 7 3.70% $13,818
BETTER MORTGAGE CORPORATION 7 4.30% $7,789
EVANSVILLE TEACHERS 7 4.29% $4,542
PULTE MORTGAGE LLC 7 4.93% $12,419
FAMILY FINANCE MORTGAGE, LLC 6 4.77% $5,700
Heartland Bank and Trust Company 6 4.92% $5,032
FirstTrust Home Loans, Inc. 6 6.63% $5,843
Cornerstone First Mortgage, Inc 6 4.96% $12,821
DEVELOPER'S MORTGAGE COMPANY 6 4.98% $8,040
Ameris Bank 6 4.77% $10,155
MEMBER FIRST MORTGAGE, LLC 6 5.63% $13,232
EMM LOANS LLC 6 4.17% $14,652
North American Savings Bank, F.S.B. 5 4.43% $9,057
OCEANSIDE MORTGAGE COMPANY 5 4.60% $4,105
Peoples National Bank , N.A. 5 4.28% $6,368
Northpointe Bank 5 5.10% $9,700
LADERA LENDING, INC. 5 4.28% $9,117
Peoples Bank 5 4.40% $11,305
GSF Mortgage Corporation 5 5.10% $9,990
HOMESITE MORTGAGE, LLC 5 4.28% $1,647
Residential Mortgage Solutions, Inc. 5 4.52% $10,774
Commerce Bank 5 5.08% $4,825
OPEN MORTGAGE, LLC 5 5.33% $7,638
THOMPSON KANE & COMPANY, LLC 4 6.13% $6,432
Amerifirst Financial, Inc. 4 5.22% $7,208
SECURITYNATIONAL MORTGAGE COMPANY 4 4.72% $9,103
TOTAL MORTGAGE SERVICES, LLC 4 5.38% $6,527
ON Q FINANCIAL, INC. 4 5.16% $6,901
FAIR WAY LENDING LLC 4 5.41% $5,338
TruHome Solutions, LLC 4 4.59% $9,841
NATIONWIDE MORTGAGE BANKERS, INC. 4 4.94% $14,777
FIRST INTEGRITY MORTGAGE SERVICES, INC. 4 4.72% $5,076
First Home Bank 4 4.16% $12,704
NEW DAY FINANCIAL, LLC 4 5.09% $5,037
Strong Home Mortgage, LLC 4 3.84% $7,797
Stifel Bank and Trust 4 4.25% $5,542
Colonial Savings, F.A. 3 4.83% $11,807
MORTGAGE CENTER L.C 3 4.25% $7,888
ABSOLUTE HOME MORTGAGE CORPORATION 3 3.00% $10,825
First Merchants Bank 3 5.29% $9,807
First Internet Bank of Indiana 3 5.75% $6,968
First Bank 3 5.50% $6,650
FAY SERVICING, LLC 3 4.88% $9,472
PANORAMA MORTGAGE GROUP, LLC 3 5.00% $11,221
PENTAGON FEDERAL CREDIT UNION 3 5.33% $8,114
PREMIA MORTGAGE, LLC 3 4.71% $6,231
CONTOUR MORTGAGE CORPORATION 3 5.71% $9,301
RANLIFE, INC. 3 5.46% $7,389
Commerce Home Mortgage, Inc. 3 3.58% $6,914
CITYWIDE HOME LOANS, LLC 3 5.92% $11,291
S1L, Inc. 3 4.83% $8,844
Texana Bank 3 4.25% $7,731
The Central Trust Bank 3 5.00% $5,580
Bell Bank 3 4.33% $6,329
UNITED MORTGAGE CORP. 3 5.54% $9,819
AMERIFIRST FINANCIAL CORPORATION 3 4.83% $10,015
LENOX FINANCIAL MORTGAGE CORPORATION 3 4.29% $7,468
GOLDEN WEST ALLIANCE, INC. 2 6.88% $9,585
Goldwater Bank, N.A. 2 6.19% $11,421
Colten Mortgage, LLC 2 3.81% $6,865
AXIA FINANCIAL, LLC 2 5.94% $9,697
First State Bank of St. Charles, Missouri 2 5.06% $6,593
Truist 2 3.35% $6,584
AMERICAN FEDERAL MORTGAGE CORPORATION 2 4.63% $9,140
Assurance Financial Group, L.L.C. 2 4.31% $13,384
Arvest Bank 2 5.44% $5,023
FirstBank 2 4.13% $9,276
V.I.P. MORTGAGE, INC. 2 5.69% $13,744
CRESCENT MORTGAGE COMPANY 2 5.06% $7,547
HOMESPIRE MORTGAGE CORPORATION 2 4.25% $13,764
Financial Funding Solutions, Inc. 2 3.50% $6,611
FBC MORTGAGE, LLC 2 4.25% $9,105
TBI MORTGAGE COMPANY 2 3.56% $13,017
Network Funding, L.P. 2 5.50% $9,449
BEST CAPITAL FUNDING 2 3.19% $8,875
UNIVERSITY LENDING GROUP, LLC 2 3.63% $6,773
Willamette Valley Bank 2 5.38% $11,608
RELIANCE FIRST CAPITAL, LLC 2 5.13% $8,312
Florida Capital Bank 2 5.31% $7,412
DATA MORTGAGE, INC. 2 4.63% $7,334
Evolve Bank & Trust 2 5.13% $11,170
STEARNS LENDING, LLC 2 3.18% $10,537
CALCON MUTUAL MORTGAGE LLC 1 2.88% $5,383
Blue Ridge Bank 1 5.12% $4,991
BKCO MORTGAGE, LLC 1 3.38% $7,001
AMERICAN ADVISORS GROUP 1 5.63% $10,423
AMCAP MORTGAGE, LTD. 1 4.25% $10,822
West Town Bank & Trust 1 5.25% $10,767
BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $13,048
BancorpSouth Bank 1 6.13% $5,546
The Union Bank Company 1 4.75% $8,694
HOMEXPRESS MORTGAGE CORP. 1 6.13% $16,856
JAMES B. NUTTER & COMPANY 1 5.13% $11,310
JMAC LENDING, INC. 1 6.88% $10,806
Axos Bank 1 5.63% $12,303
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 4.63% $13,234
Atlantic Union Bank 1 5.25% $16,262
OAKTREE FUNDING CORP. 1 5.75% $17,649
NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.63% $9,738
AMERITRUST MORTGAGE CORPORATION 1 5.50% $17,025
NORWICH COMMERCIAL GROUP, INC. 1 4.75% $11,058
First Bank & Trust 1 5.38% $6,753
OVM FINANCIAL, INC. 1 6.13% $5,628
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.75% $6,211
LAKE MORTGAGE COMPANY INC 1 3.63% $8,677
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.50% $25,193
NORTHERN MORTGAGE SERVICES, LLC 1 3.50% $2,307
NMSI, INC. 1 5.75% $13,163
First Community Bank 1 3.00% $8,216
KINECTA 1 4.75% $13,447
NEXERA HOLDING LLC 1 4.00% $14,789
First Financial Bank 1 5.25% $4,416
ENCORE BANK 1 5.13% $6,407
East Coast Capital Corp. 1 3.75% $9,689
DIRECT MORTGAGE, CORP. 1 4.50% $15,589
PLUS RELOCATION MORTGAGE, LLC 1 6.25% $13,013
FIRST MORTGAGE COMPANY, INC. 1 5.50% $7,260
ACCESS CAPITAL FUNDING, L.L.C. 1 3.75% $3,998
First Mortgage Solutions, LLC 1 3.25% $20,830
A&D Mortgage LLC 1 6.63% $24,423
COMMUNITY MORTGAGE, LLC 1 5.25% $5,834
US MORTGAGE CORPORATION 1 6.75% $23,638
RAPID MORTGAGE COMPANY 1 6.75% $15,288
Gateway First Bank 1 5.25% $1,702
GATEWAY MORTGAGE CORPORATION 1 6.00% $6,204
Chickasaw Community Bank 1 5.00% $19,405
MORTGAGE ACCESS CORP. 1 5.88% $11,820
CASTLE & COOKE MORTGAGE, LLC 1 3.75% $8,685
Sierra Pacific Mortgage Company, Inc. 1 5.25% $11,919
SIRVA MORTGAGE, INC. 1 4.13% $4,854
SOUTHWEST FUNDING, LP 1 5.88% $6,565
MORTGAGE 1 INCORPORATED 1 6.63% $16,809
CANOPY MORTGAGE, LLC 1 4.13% $26,180
Hawthorn Bank 1 5.25% $5,058

The top Illinois FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,438 FHA loans originated. Their average total fees are $8,585, which is $2,729 lower than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Illinois FHA lenders (with over 10 loans originated) are D.W. BROWN MORTGAGE CORP. ($2,877), VILLAGE CAPITAL MORTGAGE ($3,788), Fortress Bank ($3,945), RUOFF MORTGAGE COMPANY, INC. ($4,171) and RUHL MORTGAGE, LLC ($4,384).

The lowest rate Illinois FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.48%), First Guaranty Mortgage Corporation (3.67%), Lakeview Community Capital, LLC (3.86%), Bank of America (3.97%) and LAKEVIEW LOAN SERVICING, LLC (3.98%).

Illinois FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
QUINCY, IL-MO ADAMS 2022 $420,680 $538,650 $651,050 $809,150
CAPE GIRARDEAU, MO-IL ALEXANDER 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL BOND 2022 $420,680 $538,650 $651,050 $809,150
ROCKFORD, IL BOONE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BROWN 2022 $420,680 $538,650 $651,050 $809,150
OTTAWA, IL BUREAU 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL CALHOUN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CARROLL 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CASS 2022 $420,680 $538,650 $651,050 $809,150
CHAMPAIGN-URBANA, IL CHAMPAIGN 2022 $420,680 $538,650 $651,050 $809,150
TAYLORVILLE, IL CHRISTIAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLARK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLAY 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL CLINTON 2022 $420,680 $538,650 $651,050 $809,150
CHARLESTON-MATTOON, IL COLES 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI COOK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CRAWFORD 2022 $420,680 $538,650 $651,050 $809,150
CHARLESTON-MATTOON, IL CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DEKALB 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO DE WITT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DUPAGE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO EDGAR 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO EDWARDS 2022 $420,680 $538,650 $651,050 $809,150
EFFINGHAM, IL EFFINGHAM 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FORD 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL FULTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GALLATIN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GREENE 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI GRUNDY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO HAMILTON 2022 $420,680 $538,650 $651,050 $809,150
FORT MADISON-KEOKUK, IA-IL-MO HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO HARDIN 2022 $420,680 $538,650 $651,050 $809,150
BURLINGTON, IA-IL HENDERSON 2022 $420,680 $538,650 $651,050 $809,150
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL HENRY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO IROQUOIS 2022 $420,680 $538,650 $651,050 $809,150
CARBONDALE-MARION, IL JACKSON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JASPER 2022 $420,680 $538,650 $651,050 $809,150
MOUNT VERNON, IL JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL JERSEY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JO DAVIESS 2022 $420,680 $538,650 $651,050 $809,150
CARBONDALE-MARION, IL JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KANE 2022 $420,680 $538,650 $651,050 $809,150
KANKAKEE, IL KANKAKEE 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENDALL 2022 $420,680 $538,650 $651,050 $809,150
GALESBURG, IL KNOX 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2022 $420,680 $538,650 $651,050 $809,150
OTTAWA, IL LASALLE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LAWRENCE 2022 $420,680 $538,650 $651,050 $809,150
DIXON, IL LEE 2022 $420,680 $538,650 $651,050 $809,150
PONTIAC, IL LIVINGSTON 2022 $420,680 $538,650 $651,050 $809,150
LINCOLN, IL LOGAN 2022 $420,680 $538,650 $651,050 $809,150
MACOMB, IL MCDONOUGH 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI MCHENRY 2022 $420,680 $538,650 $651,050 $809,150
BLOOMINGTON, IL MCLEAN 2022 $420,680 $538,650 $651,050 $809,150
DECATUR, IL MACON 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL MACOUPIN 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL MADISON 2022 $420,680 $538,650 $651,050 $809,150
CENTRALIA, IL MARION 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MASON 2022 $420,680 $538,650 $651,050 $809,150
PADUCAH, KY-IL MASSAC 2022 $420,680 $538,650 $651,050 $809,150
SPRINGFIELD, IL MENARD 2022 $420,680 $538,650 $651,050 $809,150
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL MERCER 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL MONROE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
JACKSONVILLE, IL MORGAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MOULTRIE 2022 $420,680 $538,650 $651,050 $809,150
ROCHELLE, IL OGLE 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL PEORIA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PERRY 2022 $420,680 $538,650 $651,050 $809,150
CHAMPAIGN-URBANA, IL PIATT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PIKE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO POPE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PULASKI 2022 $420,680 $538,650 $651,050 $809,150
OTTAWA, IL PUTNAM 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RANDOLPH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL ROCK ISLAND 2022 $420,680 $538,650 $651,050 $809,150
ST. LOUIS, MO-IL ST. CLAIR 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SALINE 2022 $420,680 $538,650 $651,050 $809,150
SPRINGFIELD, IL SANGAMON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SCHUYLER 2022 $420,680 $538,650 $651,050 $809,150
JACKSONVILLE, IL SCOTT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SHELBY 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL STARK 2022 $420,680 $538,650 $651,050 $809,150
FREEPORT, IL STEPHENSON 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL TAZEWELL 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO UNION 2022 $420,680 $538,650 $651,050 $809,150
DANVILLE, IL VERMILION 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WABASH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WARREN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WAYNE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WHITE 2022 $420,680 $538,650 $651,050 $809,150
STERLING, IL WHITESIDE 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI WILL 2022 $420,680 $538,650 $651,050 $809,150
CARBONDALE-MARION, IL WILLIAMSON 2022 $420,680 $538,650 $651,050 $809,150
ROCKFORD, IL WINNEBAGO 2022 $420,680 $538,650 $651,050 $809,150
PEORIA, IL WOODFORD 2022 $420,680 $538,650 $651,050 $809,150
QUINCY, IL-MO ADAMS 2023 $472,030 $604,400 $730,525 $907,900
CAPE GIRARDEAU, MO-IL ALEXANDER 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL BOND 2023 $472,030 $604,400 $730,525 $907,900
ROCKFORD, IL BOONE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BROWN 2023 $472,030 $604,400 $730,525 $907,900
OTTAWA, IL BUREAU 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL CALHOUN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CARROLL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CASS 2023 $472,030 $604,400 $730,525 $907,900
CHAMPAIGN-URBANA, IL CHAMPAIGN 2023 $472,030 $604,400 $730,525 $907,900
TAYLORVILLE, IL CHRISTIAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLARK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLAY 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL CLINTON 2023 $472,030 $604,400 $730,525 $907,900
CHARLESTON-MATTOON, IL COLES 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI COOK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CRAWFORD 2023 $472,030 $604,400 $730,525 $907,900
CHARLESTON-MATTOON, IL CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DEKALB 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO DE WITT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DUPAGE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO EDGAR 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO EDWARDS 2023 $472,030 $604,400 $730,525 $907,900
EFFINGHAM, IL EFFINGHAM 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FORD 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL FULTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GALLATIN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GREENE 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI GRUNDY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO HAMILTON 2023 $472,030 $604,400 $730,525 $907,900
FORT MADISON-KEOKUK, IA-IL-MO HANCOCK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO HARDIN 2023 $472,030 $604,400 $730,525 $907,900
BURLINGTON, IA-IL HENDERSON 2023 $472,030 $604,400 $730,525 $907,900
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL HENRY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO IROQUOIS 2023 $472,030 $604,400 $730,525 $907,900
CARBONDALE-MARION, IL JACKSON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JASPER 2023 $472,030 $604,400 $730,525 $907,900
MOUNT VERNON, IL JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL JERSEY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JO DAVIESS 2023 $472,030 $604,400 $730,525 $907,900
CARBONDALE-MARION, IL JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KANE 2023 $472,030 $604,400 $730,525 $907,900
KANKAKEE, IL KANKAKEE 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENDALL 2023 $472,030 $604,400 $730,525 $907,900
GALESBURG, IL KNOX 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2023 $472,030 $604,400 $730,525 $907,900
OTTAWA, IL LASALLE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LAWRENCE 2023 $472,030 $604,400 $730,525 $907,900
DIXON, IL LEE 2023 $472,030 $604,400 $730,525 $907,900
PONTIAC, IL LIVINGSTON 2023 $472,030 $604,400 $730,525 $907,900
LINCOLN, IL LOGAN 2023 $472,030 $604,400 $730,525 $907,900
MACOMB, IL MCDONOUGH 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI MCHENRY 2023 $472,030 $604,400 $730,525 $907,900
BLOOMINGTON, IL MCLEAN 2023 $472,030 $604,400 $730,525 $907,900
DECATUR, IL MACON 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL MACOUPIN 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL MADISON 2023 $472,030 $604,400 $730,525 $907,900
CENTRALIA, IL MARION 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MASON 2023 $472,030 $604,400 $730,525 $907,900
PADUCAH, KY-IL MASSAC 2023 $472,030 $604,400 $730,525 $907,900
SPRINGFIELD, IL MENARD 2023 $472,030 $604,400 $730,525 $907,900
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL MERCER 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL MONROE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
JACKSONVILLE, IL MORGAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MOULTRIE 2023 $472,030 $604,400 $730,525 $907,900
ROCHELLE, IL OGLE 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL PEORIA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PERRY 2023 $472,030 $604,400 $730,525 $907,900
CHAMPAIGN-URBANA, IL PIATT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PIKE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO POPE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PULASKI 2023 $472,030 $604,400 $730,525 $907,900
OTTAWA, IL PUTNAM 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RANDOLPH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RICHLAND 2023 $472,030 $604,400 $730,525 $907,900
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL ROCK ISLAND 2023 $472,030 $604,400 $730,525 $907,900
ST. LOUIS, MO-IL ST. CLAIR 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SALINE 2023 $472,030 $604,400 $730,525 $907,900
SPRINGFIELD, IL SANGAMON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SCHUYLER 2023 $472,030 $604,400 $730,525 $907,900
JACKSONVILLE, IL SCOTT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SHELBY 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL STARK 2023 $472,030 $604,400 $730,525 $907,900
FREEPORT, IL STEPHENSON 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL TAZEWELL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO UNION 2023 $472,030 $604,400 $730,525 $907,900
DANVILLE, IL VERMILION 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WABASH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WARREN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WAYNE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WHITE 2023 $472,030 $604,400 $730,525 $907,900
STERLING, IL WHITESIDE 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI WILL 2023 $472,030 $604,400 $730,525 $907,900
CARBONDALE-MARION, IL WILLIAMSON 2023 $472,030 $604,400 $730,525 $907,900
ROCKFORD, IL WINNEBAGO 2023 $472,030 $604,400 $730,525 $907,900
PEORIA, IL WOODFORD 2023 $472,030 $604,400 $730,525 $907,900

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).