Illinois FHA Loan Rates, Closing Costs & Stats

Illinois

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    • 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 6.67% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Illinois's average FHA mortgage closing costs are $8,262.

    The average rate for the prior week (2025-03-28) was 6.87% and one month ago for the week of 2025-02-28, the average rate was 6.55%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.22%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,890 6.46% $10,117
    UNITED WHOLESALE MORTGAGE, LLC 1,465 6.36% $12,675
    LOANDEPOT.COM, LLC 1,112 6.79% $12,379
    CROSSCOUNTRY MORTGAGE, LLC 978 6.69% $11,769
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 747 6.81% $11,856
    BROKER SOLUTIONS, INC. 696 6.96% $8,795
    GUARANTEED RATE, INC. 680 6.63% $11,105
    PENNYMAC LOAN SERVICES, LLC 518 6.15% $9,658
    FREEDOM MORTGAGE CORPORATION 505 6.53% $11,866
    GUILD MORTGAGE COMPANY 463 6.74% $10,386
    AMERICAN PACIFIC MORTGAGE CORPORATION 423 6.75% $12,841
    FLAT BRANCH MORTGAGE, INC. 352 6.88% $6,078
    NEWREZ LLC 324 6.52% $10,223
    TOWNE MORTGAGE COMPANY 216 6.59% $12,617
    DHI MORTGAGE COMPANY, LTD. 200 5.41% $9,191
    The Federal Savings Bank 198 6.67% $13,035
    Equity Prime Mortgage LLC 196 6.88% $12,045
    Barrington Bank & Trust Company, N.A. 196 6.84% $11,181
    COMPASS MORTGAGE, INC. 193 6.67% $13,541
    MUTUAL OF OMAHA MORTGAGE, INC. 183 6.57% $13,932
    Mr. Cooper ( Nationstar Mortgage ) 176 6.52% $12,082
    Ixonia Bank 176 6.85% $10,907
    GREENSTATE CREDIT UNION 160 6.28% $7,821
    JPMorgan Chase Bank 160 6.46% $6,007
    U.S. Bank 157 6.76% $6,748
    Carrington Mortgage Services, LLC 153 6.42% $11,826
    HOMESIDE FINANCIAL, LLC 149 6.91% $11,388
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 148 6.61% $10,062
    ENDEAVOR CAPITAL, LLC. 139 6.61% $7,529
    AMERICAN FINANCIAL NETWORK, INC. 138 6.75% $12,101
    The Huntington National Bank 138 6.53% $11,994
    Flagstar Bank, FSB 137 6.38% $9,031
    DELMAR FINANCIAL COMPANY 136 6.78% $7,162
    BAY EQUITY LLC 131 6.63% $12,952
    FIRST STATE MORTGAGE SERVICES, LLC 122 6.64% $7,036
    LEADERONE FINANCIAL CORPORATION 118 6.89% $10,327
    AMERISAVE MORTGAGE CORPORATION 107 6.15% $12,857
    VILLAGE CAPITAL MORTGAGE 104 6.61% $6,637
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 104 6.77% $9,462
    GERSHMAN INVESTMENT CORP. 103 6.86% $5,686
    PLAZA HOME MORTGAGE, INC. 98 6.96% $10,606
    Mortgage Research Center, LLC 94 6.79% $6,751
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 87 6.67% $11,889
    Key Mortgage Services, Inc. 87 6.42% $11,783
    LAKEVIEW LOAN SERVICING, LLC 87 6.49% $8,790
    Paramount Residential Mortgage Group, Inc. 84 6.65% $11,665
    UNION HOME MORTGAGE CORP. 83 6.73% $11,931
    MLD MORTGAGE INC. 83 6.56% $9,625
    NVR Mortgage Finance, Inc. 83 6.20% $12,539
    CARDINAL FINANCIAL 80 6.48% $11,940
    Flanagan State Bank 74 6.50% $7,715
    PLANET HOME LENDING, LLC 72 6.26% $7,815
    OCMBC, INC. 67 6.77% $13,976
    GENEVA FINANCIAL, LLC 66 7.08% $12,546
    MOVEMENT MORTGAGE, LLC 65 6.66% $12,073
    GUARANTEED RATE AFFINITY, LLC 63 6.77% $12,205
    CALCON MUTUAL MORTGAGE LLC 63 6.78% $11,417
    SUN WEST MORTGAGE COMPANY, INC. 62 6.12% $14,456
    AFFORDABLE MORTGAGE ADVISORS, LLC. 62 6.89% $7,440
    EAGLE HOME MORTGAGE, LLC 60 5.32% $12,176
    Nations Lending Corporation 60 6.80% $12,041
    Midland States Bank 59 6.75% $7,031
    M/I FINANCIAL, LLC 59 5.60% $19,073
    PRIMELENDING, A PLAINSCAPITAL COMPANY 56 6.94% $9,812
    Regions Bank 55 6.60% $6,295
    PNC Bank 54 6.75% $7,245
    ZILLOW HOME LOANS, LLC 54 6.65% $9,695
    DAS Acquisition Company, LLC 53 6.93% $7,343
    BMO Harris Bank 53 6.68% $11,144
    CIBM Bank 53 6.67% $8,655
    Associated Bank 50 6.27% $10,133
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 50 6.67% $11,780
    INB 49 6.35% $5,711
    POINT Mortgage 48 6.62% $10,458
    MID AMERICA MORTGAGE, INC. 47 6.90% $10,739
    Lakeview Community Capital, LLC 47 6.46% $8,130
    Century Mortgage Company DBA Century Lending Company 46 6.52% $13,169
    AmeriHome Mortgage Company, LLC 44 6.60% $8,320
    SUCCESS MORTGAGE PARTNERS, INC. 43 6.63% $12,025
    Prosperity Home Mortgage, LLC 43 6.38% $12,282
    Fifth Third Bank 42 6.54% $6,929
    CIBC Bank USA 42 6.37% $11,829
    ENVOY MORTGAGE, LTD 42 6.89% $8,501
    American Mortgage & Equity Consultants, Inc. 42 6.86% $13,799
    JLB CORPORATION 41 6.18% $8,064
    United Community Bank 40 6.47% $5,514
    FCB Banks 40 6.18% $5,797
    Plains Commerce Bank 38 6.69% $10,888
    CMG MORTGAGE, INC. 36 6.79% $12,334
    THE MORTGAGE LINK, INC. 34 6.71% $21,766
    First Mid Bank & Trust 33 6.72% $6,016
    AMERICAN FINANCING CORPORATION 33 5.92% $9,932
    Busey Bank 32 6.26% $6,157
    MICHIGAN MUTUAL, INC. 32 6.78% $13,140
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 31 6.47% $13,407
    Pacor Mortgage Corp 30 6.66% $11,871
    NORWICH COMMERCIAL GROUP, INC. 30 6.36% $13,131
    Midwest BankCentre 30 6.10% $5,680
    The Loan Store, Inc. 29 6.45% $13,046
    Carrollton Bank 28 6.49% $5,188
    PROPER RATE, LLC 28 6.64% $11,606
    RUOFF MORTGAGE COMPANY, INC. 28 6.82% $5,000
    Cornerstone First Mortgage, Inc 26 6.80% $9,870
    DIRECT MORTGAGE LOANS, LLC 25 6.72% $13,408
    Heartland Bank and Trust Company 24 6.72% $5,839
    ROYAL UNITED MORTGAGE LLC 24 6.71% $9,220
    AMERICAN FINANCIAL RESOURCES, INC. 24 6.98% $13,807
    RUHL MORTGAGE, LLC 24 6.40% $5,111
    MORTGAGE SOLUTIONS OF COLORADO, LLC 23 6.80% $14,163
    T2 FINANCIAL LLC 22 6.84% $11,786
    GMFS LLC 22 6.76% $8,768
    PHH Mortgage Corporation 20 6.40% $11,433
    AmRes Corporation 20 6.60% $14,229
    MEMBER FIRST MORTGAGE, LLC 20 6.69% $7,475
    NP, Inc. 18 6.78% $8,238
    STOCKTON MORTGAGE CORPORATION 18 6.47% $12,283
    Fortress Bank 17 6.97% $4,566
    VERITAS FUNDING, LLC 17 6.32% $15,385
    First National Bank of Omaha 16 6.76% $8,211
    Old National Bank 16 6.09% $7,683
    PANORAMA MORTGAGE GROUP, LLC 16 6.55% $15,533
    EMM LOANS LLC 16 6.08% $13,998
    Sierra Pacific Mortgage Company, Inc. 16 6.49% $12,044
    S1L, Inc. 16 6.71% $10,033
    Servion, Inc. 16 6.64% $9,129
    SCOTT CREDIT UNION 15 5.83% $5,437
    UNITED HOME LOANS, INC. 15 6.49% $9,480
    HOMEBRIDGE FINANCIAL SERVICES, INC. 15 7.03% $9,670
    PRIMARY RESIDENTIAL MORTGAGE, INC. 15 6.78% $9,651
    Waterstone Mortgage Corporation 15 6.67% $12,682
    LAND HOME FINANCIAL SERVICES, INC. 14 6.79% $13,529
    Bank of America 14 6.33% $6,696
    THE ANDERSON FINANCIAL GROUP, INC. 14 6.70% $10,083
    PREMIER MORTGAGE RESOURCES, L.L.C. 14 6.88% $11,914
    Old Second National Bank 14 6.28% $9,144
    NBKC BANK 13 6.07% $12,775
    NATIONS RELIABLE LENDING, LLC 13 6.47% $12,851
    EVERETT FINANCIAL, INC. 13 6.74% $10,212
    Home State Bank 13 6.85% $9,655
    LADERA LENDING, INC. 12 6.50% $9,948
    ALAMEDA MORTGAGE CORPORATION 12 6.93% $9,457
    FIRST ALLIANCE HOME MORTGAGE, LLC 12 5.32% $18,030
    JMAC LENDING, INC. 12 6.66% $15,071
    LIBERTY HOME MORTGAGE CORPORATION 12 6.75% $13,160
    M&T Bank 12 6.30% $7,667
    NATIONWIDE MORTGAGE BANKERS, INC. 12 6.98% $14,561
    Paramount Bank 12 6.60% $7,063
    Citibank 11 6.25% $10,439
    Wells Fargo Bank 11 6.57% $9,251
    FRONTIER FINANCIAL, INC. 11 6.92% $6,459
    Bank of Springfield 11 6.16% $6,648
    First Federal Bank 9 6.24% $7,598
    CROWN MORTGAGE COMPANY 9 6.72% $15,352
    NFM, INC. 9 7.18% $14,480
    FIRST COMMUNITY MORTGAGE, INC. 9 6.78% $12,712
    CHURCHILL MORTGAGE CORPORATION 9 7.14% $8,837
    Marquette Bank 9 6.33% $9,114
    American Bank and Trust Company 9 6.57% $6,409
    SECURITYNATIONAL MORTGAGE COMPANY 9 6.46% $14,403
    NORTHWEST BANK OF ROCKFORD 8 6.47% $7,889
    OPEN MORTGAGE, LLC 8 6.75% $16,310
    THOMPSON KANE & COMPANY, LLC 8 6.48% $7,996
    AXIA FINANCIAL, LLC 8 6.89% $8,835
    Texana Bank 7 6.48% $12,724
    SUMMIT FUNDING, INC. 7 6.41% $14,606
    TJC Mortgage, Inc. 7 5.93% $16,127
    Hometown Equity Mortgage, LLC 7 6.70% $11,632
    OCEANSIDE MORTGAGE COMPANY 7 6.32% $4,237
    PENTAGON FEDERAL CREDIT UNION 7 5.84% $11,713
    MYCUMORTGAGE, LLC 6 6.67% $11,365
    RESIDENTIAL BANCORP 6 6.46% $13,089
    ALLIANT CREDIT UNION 6 6.27% $9,850
    PULTE MORTGAGE LLC 6 5.90% $10,720
    BETTER MORTGAGE CORPORATION 6 5.94% $8,977
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 6 6.60% $12,539
    EVANSVILLE TEACHERS 6 6.58% $4,494
    The Central Trust Bank 6 6.00% $10,136
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 6.72% $7,028
    VAN DYK MORTGAGE CORPORATION 5 6.80% $5,988
    Allied First Bank,sb 5 6.80% $10,073
    MLB RESIDENTIAL LENDING, LLC 5 6.73% $11,194
    CANOPY MORTGAGE, LLC 5 6.80% $10,908
    Truist 5 6.50% $9,465
    ONY GLO, INC. 5 6.43% $11,114
    Citizens Bank 5 6.50% $7,092
    Bank of England 4 6.59% $8,470
    NETWORK CAPITAL FUNDING CORPORATION 4 6.56% $10,972
    TOP FLITE FINANCIAL, INC. 4 6.81% $9,613
    TOTAL MORTGAGE SERVICES, LLC 4 6.91% $12,694
    BAYSHORE MORTGAGE FUNDING, LLC 4 6.88% $10,392
    NexBank 4 6.66% $11,592
    FIRST COLONY MORTGAGE CORPORATION 4 6.69% $13,571
    Ameris Bank 4 6.53% $11,187
    ROSS MORTGAGE CORPORATION 4 6.47% $13,016
    Bell Bank 4 6.88% $8,030
    US MORTGAGE CORPORATION 4 6.75% $12,376
    Peoples National Bank , N.A. 4 6.47% $5,214
    Magnolia Bank 4 6.34% $11,477
    PREMIA MORTGAGE, LLC 4 6.44% $5,996
    Commerce Bank 4 7.25% $5,617
    Northpointe Bank 4 6.31% $12,294
    NATIONS DIRECT MORTGAGE, LLC 4 6.81% $14,812
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 3 6.83% $6,237
    NEXERA HOLDING LLC 3 5.63% $7,784
    BECKAM FUNDING CORP. 3 6.83% $16,637
    TruHome Solutions, LLC 3 6.25% $10,404
    Arvest Bank 3 6.21% $6,218
    FAMILY FINANCE MORTGAGE, LLC 3 7.04% $6,564
    First State Bank of St. Charles, Missouri 3 6.38% $7,489
    RANLIFE, INC. 3 5.58% $10,041
    DIGNIFIED HOME LOANS, LLC 2 6.31% $14,668
    DIRECT MORTGAGE, CORP. 2 5.56% $15,635
    HOMESTEAD FUNDING CORP. 2 6.06% $9,600
    Florida Capital Bank 2 6.00% $11,349
    Mortgage Assurance Inc. 2 6.50% $15,074
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.63% $14,683
    Commerce Home Mortgage, Inc. 2 6.44% $14,797
    MORTGAGE ACCESS CORP. 2 6.56% $10,827
    LENOX FINANCIAL MORTGAGE CORPORATION 2 6.63% $15,121
    Home Mortgage Alliance Corp 2 6.37% $16,190
    Stifel Bank and Trust 2 6.38% $5,486
    RAPID MORTGAGE COMPANY 2 6.75% $17,168
    ABSOLUTE HOME MORTGAGE CORPORATION 2 7.00% $10,481
    First Financial Bank 2 6.81% $5,306
    ALLIED MORTGAGE GROUP, INC. 2 6.44% $5,158
    Financial Funding Solutions, Inc. 2 6.56% $4,363
    University of Wisconsin Credit Union 2 6.06% $8,729
    MJW Financial LLC 2 6.50% $12,897
    AMERITRUST MORTGAGE CORPORATION 2 7.31% $16,842
    The Union Bank Company 2 5.63% $9,681
    Axos Bank 2 6.25% $9,209
    NEW DAY FINANCIAL, LLC 2 7.31% $6,921
    BancorpSouth 2 6.31% $4,468
    Sunflower Bank 2 7.75% $8,502
    DEVELOPER'S MORTGAGE COMPANY 2 6.25% $14,866
    HOMEXPRESS MORTGAGE CORP. 1 7.25% $10,091
    HighTechLending Inc 1 6.63% $6,947
    Granite Community Bank 1 6.75% $13,583
    Gateway First Bank 1 5.75% $13,221
    MORTGAGEONE, INC. 1 7.00% $13,521
    FirstTrust Home Loans, Inc. 1 6.25% $4,743
    FIRST HERITAGE FINANCIAL, LLC 1 5.75% $9,639
    First Financial Bank 1 7.13% $9,657
    Wolfe Financial, Inc 1 6.63% $7,680
    NEW FED MORTGAGE, CORP. 1 6.25% $10,826
    First Community Bank 1 6.13% $16,128
    First Bank 1 6.63% $8,729
    FBC MORTGAGE, LLC 1 6.75% $8,944
    ON Q FINANCIAL, INC. 1 7.75% $18,746
    Pacific Lending LLC 1 6.13% $10,900
    FAIR WAY LENDING LLC 1 6.88% $12,317
    AHL FUNDING 1 6.63% $26,527
    Encompass Lending Group, LP 1 6.63% $23,572
    Peoples Bank 1 7.25% $8,784
    Peoples Bank 1 5.75% $4,645
    EMBRACE HOME LOANS, INC. 1 6.63% $7,962
    DATA MORTGAGE, INC. 1 6.25% $7,894
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.25% $11,274
    CONTOUR MORTGAGE CORPORATION 1 6.75% $11,015
    COMMUNITYAMERICA 1 6.13% $10,963
    Princeton Mortgage Corporation 1 5.99% $7,552
    CITYWIDE HOME LOANS, LLC 1 6.50% $23,289
    City Lending Inc. 1 7.75% $13,029
    Residential Acceptance Corporation 1 8.00% $9,982
    Residential Mortgage Solutions, Inc. 1 5.25% $15,970
    CapStar Bank 1 6.25% $7,078
    Capital Bank 1 7.75% $25,382
    SENTE MORTGAGE, INC. 1 5.75% $26,007
    SIRVA MORTGAGE, INC. 1 7.25% $10,290
    South State Bank 1 5.75% $8,009
    SOUTHWEST FUNDING, LP 1 7.75% $12,353
    Bethpage Federal Credit Union 1 6.38% $5,353
    Bank Five Nine 1 6.00% $9,518
    TIB The Independent Bankersbank 1 6.88% $7,209
    UMB Bank 1 5.75% $4,269
    Union Savings Bank 1 6.25% $5,556
    UNITED MORTGAGE CORP 1 6.99% $8,254
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 6.13% $11,675
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.63% $9,666
    V.I.P. MORTGAGE, INC. 1 7.13% $15,279
    LAKE MICHIGAN CREDIT UNION 1 6.00% $6,346
    INTERCAP LENDING INC. 1 5.75% $10,631

    The top Illinois FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,890 FHA loans originated. Their average total fees are $10,117, which is $2,558 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Illinois FHA lenders (with over 10 loans originated) are Fortress Bank ($4,566), RUOFF MORTGAGE COMPANY, INC. ($5,000), RUHL MORTGAGE, LLC ($5,111), Carrollton Bank ($5,188) and SCOTT CREDIT UNION ($5,437).

    The lowest rate Illinois FHA lenders (with over 10 loans originated) are FIRST ALLIANCE HOME MORTGAGE, LLC (5.32%), EAGLE HOME MORTGAGE, LLC (5.32%), DHI MORTGAGE COMPANY, LTD. (5.41%), M/I FINANCIAL, LLC (5.60%) and SCOTT CREDIT UNION (5.83%).

    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).