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 6.39% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Illinois's average FHA mortgage closing costs are $8,028.

    The average rate for the prior week (2024-11-01) was 6.46% and one month ago for the week of 2024-10-04, the average rate was 6.18%.

    The average rate one year ago was 7.63%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.53%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,970 6.40% $9,574
    UNITED WHOLESALE MORTGAGE, LLC 1,401 6.56% $12,535
    LOANDEPOT.COM, LLC 1,240 6.70% $12,352
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,027 6.72% $10,608
    CROSSCOUNTRY MORTGAGE, LLC 926 6.78% $12,400
    GUARANTEED RATE, INC. 829 6.70% $11,806
    Neighborhood Loans, Inc. 714 6.68% $13,836
    FLAT BRANCH MORTGAGE, INC. 635 6.71% $5,950
    AMERICAN PACIFIC MORTGAGE CORPORATION 532 6.73% $13,166
    BROKER SOLUTIONS, INC. 449 6.75% $8,695
    CALIBER HOME LOANS, INC. 423 6.22% $8,962
    NEWREZ LLC 343 6.77% $10,360
    PENNYMAC LOAN SERVICES, LLC 323 6.43% $11,834
    The Federal Savings Bank 298 6.60% $12,839
    Barrington Bank & Trust Company, N.A. 297 6.62% $10,883
    GUILD MORTGAGE COMPANY 275 6.78% $10,275
    FREEDOM MORTGAGE CORPORATION 271 6.87% $12,873
    FIRST CENTENNIAL MORTGAGE CORPORATION 256 6.67% $9,997
    The Huntington National Bank 230 6.44% $11,310
    BAY EQUITY LLC 205 6.73% $13,163
    COMPASS MORTGAGE, INC. 198 6.68% $12,797
    DHI MORTGAGE COMPANY, LTD. 193 5.57% $9,050
    GREENSTATE CREDIT UNION 193 6.31% $7,638
    Mr. Cooper ( Nationstar Mortgage ) 184 6.15% $12,978
    MUTUAL OF OMAHA MORTGAGE, INC. 182 6.64% $12,350
    JPMorgan Chase Bank 178 6.58% $6,603
    Plains Commerce Bank 178 6.45% $12,539
    PLAZA HOME MORTGAGE, INC. 157 6.67% $10,409
    ENDEAVOR CAPITAL, LLC. 156 6.65% $7,534
    AMERISAVE MORTGAGE CORPORATION 154 6.17% $11,646
    U.S. Bank 152 6.64% $6,749
    FIRST STATE MORTGAGE SERVICES, LLC 147 6.63% $6,827
    LEADERONE FINANCIAL CORPORATION 142 6.72% $10,456
    Carrington Mortgage Services, LLC 139 6.50% $10,802
    CARDINAL FINANCIAL 138 6.45% $11,268
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 137 6.74% $10,843
    Flagstar Bank, FSB 136 6.70% $9,949
    Nations Lending Corporation 132 6.86% $11,093
    DELMAR FINANCIAL COMPANY 130 6.71% $7,206
    AMERICAN FINANCIAL NETWORK, INC. 122 7.16% $12,750
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 116 6.70% $10,182
    GUARANTEED RATE AFFINITY, LLC 115 6.72% $12,814
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 115 6.64% $10,265
    DAS Acquisition Company, LLC 113 6.84% $7,551
    EAGLE HOME MORTGAGE, LLC 109 5.52% $10,950
    Key Mortgage Services, Inc. 108 6.67% $11,813
    Paramount Residential Mortgage Group, Inc. 104 6.94% $12,262
    ENVOY MORTGAGE, LTD 101 6.57% $8,118
    DRAPER AND KRAMER MORTGAGE CORP. 94 6.54% $10,274
    OCMBC, INC. 94 7.19% $13,479
    Regions Bank 94 6.46% $6,098
    GERSHMAN INVESTMENT CORP. 92 6.97% $5,578
    HOMESIDE FINANCIAL, LLC 89 7.03% $10,515
    UNION HOME MORTGAGE CORP. 88 6.98% $12,653
    Mortgage Research Center, LLC 87 7.00% $6,080
    GENEVA FINANCIAL, LLC 87 6.70% $13,602
    NVR Mortgage Finance, Inc. 86 6.06% $13,026
    Ixonia Bank 85 6.88% $10,354
    TOWNE MORTGAGE COMPANY 80 7.00% $13,264
    Equity Prime Mortgage LLC 77 6.93% $12,467
    INB 75 6.47% $5,242
    PNC Bank 68 6.82% $6,454
    CIBM Bank 66 6.55% $8,251
    Flanagan State Bank 66 6.70% $7,853
    SUN WEST MORTGAGE COMPANY, INC. 65 6.69% $11,294
    United Community Bank 63 6.85% $4,921
    FirstTrust Home Loans, Inc. 60 6.84% $6,339
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 58 6.83% $8,884
    Heartland Bank and Trust Company 57 6.44% $5,047
    PRIMELENDING, A PLAINSCAPITAL COMPANY 56 6.81% $10,192
    MOVEMENT MORTGAGE, LLC 55 6.68% $11,749
    Midland States Bank 55 6.74% $7,113
    Carrollton Bank 54 6.37% $5,898
    CIBC Bank USA 52 6.29% $11,798
    BMO Harris Bank 51 6.47% $10,606
    M/I FINANCIAL, LLC 50 6.20% $15,235
    LAKEVIEW LOAN SERVICING, LLC 49 6.32% $10,496
    CMG MORTGAGE, INC. 49 6.78% $12,073
    Associated Bank 47 6.22% $9,040
    PLANET HOME LENDING, LLC 44 6.48% $11,824
    Fifth Third Bank 44 6.40% $7,654
    Century Mortgage Company DBA Century Lending Company 43 6.65% $13,027
    Prosperity Home Mortgage, LLC 42 6.53% $11,721
    NATIONS RELIABLE LENDING, LLC 42 6.88% $12,280
    EVERETT FINANCIAL, INC. 42 6.90% $10,359
    JLB CORPORATION 40 6.44% $8,227
    PROPER RATE, LLC 40 6.70% $13,949
    Blackhawk Bank 39 6.44% $7,303
    CHURCHILL MORTGAGE CORPORATION 37 6.90% $9,631
    Busey Bank 36 6.39% $5,798
    FCB Banks 35 6.42% $4,772
    VILLAGE CAPITAL MORTGAGE 34 6.29% $7,849
    United Fidelity Funding Corp. 33 6.54% $10,073
    ZILLOW HOME LOANS, LLC 32 6.54% $10,492
    RUOFF MORTGAGE COMPANY, INC. 32 6.96% $4,603
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 32 6.70% $11,463
    RUHL MORTGAGE, LLC 31 6.08% $4,442
    Servion, Inc. 30 6.64% $7,756
    Fortress Bank 29 6.56% $4,293
    NATIONS DIRECT MORTGAGE, LLC 29 6.63% $11,414
    AmeriHome Mortgage Company, LLC 29 6.82% $10,844
    Wells Fargo Bank 29 6.69% $6,816
    POINT Mortgage 28 6.71% $10,869
    First National Bank of Omaha 28 6.59% $7,275
    T2 FINANCIAL LLC 28 6.79% $14,101
    ROYAL UNITED MORTGAGE LLC 28 7.00% $11,229
    Bank of America 27 6.21% $7,753
    GSF Mortgage Corporation 26 6.51% $12,799
    Lakeview Community Capital, LLC 26 6.38% $10,091
    MID AMERICA MORTGAGE, INC. 26 7.44% $8,698
    MICHIGAN MUTUAL, INC. 25 6.86% $11,953
    Midwest BankCentre 24 6.22% $5,294
    UNITED HOME LOANS, INC. 24 6.84% $10,581
    HOMEBRIDGE FINANCIAL SERVICES, INC. 24 6.61% $14,855
    THE ANDERSON FINANCIAL GROUP, INC. 23 6.78% $9,731
    Pacor Mortgage Corp 23 6.51% $11,206
    FIRST COMMUNITY MORTGAGE, INC. 23 6.54% $14,133
    Marquette Bank 22 6.41% $9,091
    AMERICAN FINANCIAL RESOURCES, INC. 22 7.10% $11,165
    STOCKTON MORTGAGE CORPORATION 22 6.48% $14,805
    SUCCESS MORTGAGE PARTNERS, INC. 22 6.70% $9,403
    LAND HOME FINANCIAL SERVICES, INC. 21 6.71% $12,567
    MLD MORTGAGE INC. 21 6.85% $12,276
    SCOTT CREDIT UNION 21 6.35% $5,319
    Old National Bank 20 6.55% $7,550
    Waterstone Mortgage Corporation 20 6.63% $13,546
    AmRes Corporation 19 6.91% $11,178
    FRONTIER FINANCIAL, INC. 19 7.04% $6,618
    CHERRY CREEK MORTGAGE, LLC 19 6.53% $4,057
    LIBERTY HOME MORTGAGE CORPORATION 19 6.73% $14,935
    BECKAM FUNDING CORP. 18 7.28% $19,467
    Citibank 17 6.09% $11,338
    Old Second National Bank 17 6.27% $9,932
    NATIONWIDE MORTGAGE BANKERS, INC. 16 7.04% $10,990
    MYCUMORTGAGE, LLC 16 7.03% $6,948
    Platinum Home Mortgage Corporation 16 6.28% $14,109
    NP, Inc. 15 6.78% $6,656
    ACADEMY MORTGAGE CORPORATION 15 6.96% $10,488
    American Mortgage & Equity Consultants, Inc. 15 7.09% $12,174
    AMERICAN FINANCING CORPORATION 15 6.27% $8,827
    Citizens Bank 14 6.35% $10,848
    M&T Bank 14 6.54% $8,235
    GMFS LLC 13 7.01% $6,228
    SECURITYNATIONAL MORTGAGE COMPANY 13 7.29% $14,407
    PHH Mortgage Corporation 13 6.50% $10,275
    Allied First Bank,sb 13 6.87% $9,785
    NFM, INC. 13 6.73% $11,232
    Home State Bank 13 6.95% $9,816
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 12 6.44% $8,267
    MLB RESIDENTIAL LENDING, LLC 12 6.70% $17,286
    Paramount Bank 12 6.69% $9,623
    MORTGAGE SOLUTIONS OF COLORADO, LLC 11 6.91% $14,073
    AXIA FINANCIAL, LLC 11 6.86% $11,429
    Hometown Equity Mortgage, LLC 11 6.68% $10,458
    Mortgage Assurance Inc. 11 6.40% $11,838
    SUMMIT FUNDING, INC. 10 6.71% $18,775
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 10 6.71% $16,183
    NBKC BANK 10 6.10% $8,139
    NETWORK CAPITAL FUNDING CORPORATION 10 6.13% $9,287
    ALAMEDA MORTGAGE CORPORATION 10 7.02% $10,728
    CROWN MORTGAGE COMPANY 10 6.60% $14,272
    EMM LOANS LLC 10 5.90% $14,625
    THE MORTGAGE LINK, INC. 10 7.19% $16,760
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 10 6.36% $7,063
    Gold Coast Bank 10 6.42% $12,174
    American Bank and Trust Company 9 6.43% $6,866
    Bank of Springfield 9 6.25% $5,842
    Bell Bank 8 6.55% $9,580
    First Federal Bank 8 7.06% $9,664
    VERITAS FUNDING, LLC 8 6.67% $18,176
    Magnolia Bank 8 6.41% $5,775
    JMAC LENDING, INC. 8 6.69% $12,578
    Sierra Pacific Mortgage Company, Inc. 8 6.92% $12,630
    Cornerstone First Mortgage, Inc 8 7.01% $11,724
    EVANSVILLE TEACHERS 8 6.75% $5,101
    NORTHWEST BANK OF ROCKFORD 8 6.38% $5,745
    PENTAGON FEDERAL CREDIT UNION 7 6.04% $8,736
    FIRST ALLIANCE HOME MORTGAGE, LLC 7 6.75% $14,863
    First Federal Savings Bank 7 6.50% $5,002
    FAMILY FINANCE MORTGAGE, LLC 7 6.73% $7,481
    BETTER MORTGAGE CORPORATION 7 6.41% $8,989
    PANORAMA MORTGAGE GROUP, LLC 7 7.18% $12,598
    DIRECT MORTGAGE LOANS, LLC 7 7.25% $13,796
    FIRST MORTGAGE COMPANY, INC. 6 7.42% $11,798
    GREAT LAKES 6 6.38% $8,925
    MEMBER FIRST MORTGAGE, LLC 6 6.81% $9,125
    Peoples Bank 6 6.23% $9,554
    VAN DYK MORTGAGE CORPORATION 6 6.69% $6,943
    Northpointe Bank 5 5.85% $16,953
    THOMPSON KANE & COMPANY, LLC 5 6.60% $8,168
    First Bank 5 6.28% $5,470
    Bank of England 5 6.58% $10,362
    TruHome Solutions, LLC 5 6.35% $8,681
    BNC National Bank 5 6.43% $5,888
    PULTE MORTGAGE LLC 5 6.15% $12,037
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.95% $9,368
    TOTAL MORTGAGE SERVICES, LLC 5 6.80% $6,956
    OPEN MORTGAGE, LLC 5 7.35% $10,395
    RESIDENTIAL BANCORP 4 6.53% $10,415
    DEVELOPER'S MORTGAGE COMPANY 4 7.41% $13,114
    ON Q FINANCIAL, INC. 4 6.91% $8,680
    HOMESTAR FINANCIAL CORPORATION 4 7.19% $13,182
    First Merchants Bank 4 6.81% $8,332
    Ameris Bank 4 6.38% $12,760
    First Savings Bank 4 6.31% $13,806
    Byline Bank 4 6.41% $10,372
    ROSS MORTGAGE CORPORATION 4 6.84% $10,849
    NORWICH COMMERCIAL GROUP, INC. 4 7.44% $11,358
    Evolve Bank & Trust 4 6.91% $16,868
    LADERA LENDING, INC. 4 6.56% $8,124
    The Loan Store, Inc. 3 7.16% $13,391
    MORTGAGE ACCESS CORP. 3 5.92% $12,515
    MORIA DEVELOPMENT, INC. 3 7.17% $9,934
    CRESCENT MORTGAGE COMPANY 3 6.83% $9,345
    CONTOUR MORTGAGE CORPORATION 3 6.08% $10,394
    PREMIA MORTGAGE, LLC 3 6.79% $9,928
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 7.33% $8,065
    Chicago Mortgage Solutions LLC 3 6.42% $11,804
    RAPID MORTGAGE COMPANY 3 7.25% $8,557
    CALCON MUTUAL MORTGAGE LLC 3 6.50% $18,237
    MIDLAND MORTGAGE CORPORATION 3 7.08% $16,541
    Marine Bank 3 6.67% $6,481
    The Central Trust Bank 3 6.46% $5,673
    Assurance Financial Group, L.L.C. 3 6.96% $17,906
    Arvest Bank 3 5.92% $5,731
    ARC HOME LLC 3 6.25% $13,066
    HOMESTEAD FUNDING CORP. 3 5.83% $11,113
    First Financial Bank 3 7.29% $6,124
    American Mortgage Bank, LLC 2 6.94% $12,235
    EMBRACE HOME LOANS, INC. 2 6.69% $10,781
    CITYWIDE HOME LOANS, LLC 2 6.50% $9,508
    Chickasaw Community Bank 2 6.63% $10,938
    Financial Funding Solutions, Inc. 2 7.19% $3,975
    US MORTGAGE CORPORATION 2 7.19% $10,613
    Residential Mortgage Solutions, Inc. 2 6.62% $9,052
    FAIR WAY LENDING LLC 2 6.69% $6,448
    NexBank 2 5.31% $14,489
    SIRVA MORTGAGE, INC. 2 6.44% $7,096
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.88% $16,673
    AMCAP MORTGAGE, LTD. 2 6.69% $16,235
    MORTGAGE CENTER L.C 2 7.13% $6,319
    TIB The Independent Bankersbank 2 6.56% $5,376
    TOP FLITE FINANCIAL, INC. 2 7.19% $9,972
    DIGNIFIED HOME LOANS, LLC 2 6.69% $8,984
    DATA MORTGAGE, INC. 2 6.94% $10,856
    Wyndham Capital Mortgage, Inc. 2 6.31% $11,177
    Commerce Bank 2 6.81% $6,109
    HOMESITE MORTGAGE, LLC 2 7.31% $6,748
    KELLER MORTGAGE, LLC 1 6.00% $9,125
    First United Bank and Trust Company 1 6.38% $10,289
    Simmons Bank 1 5.75% $12,454
    Colonial Savings, F.A. 1 6.50% $14,189
    Stifel Bank and Trust 1 6.75% $8,083
    Stillman Bank 1 6.88% $3,994
    BAY-VALLEY MORTGAGE GROUP 1 6.50% $9,418
    Strong Home Mortgage, LLC 1 6.25% $14,608
    Peoples National Bank , N.A. 1 6.13% $6,208
    GATEWAY MORTGAGE CORPORATION 1 7.50% $8,854
    Sunflower Bank 1 4.63% $12,280
    First Federal Savings and Loan Association of Lakewood 1 6.75% $11,935
    NEW WAVE LENDING GROUP INC 1 7.38% $10,319
    Texana Bank 1 7.25% $18,130
    BancorpSouth 1 6.50% $6,761
    Kwik Mortgage Corporation 1 6.75% $14,013
    V.I.P. MORTGAGE, INC. 1 5.75% $10,045
    ALLIED MORTGAGE GROUP, INC. 1 6.25% $13,323
    Pinnacle Bank 1 6.25% $6,052
    Goldwater Bank, N.A. 1 6.75% $16,675
    NEW DAY FINANCIAL, LLC 1 7.50% $2,400
    AMERITRUST MORTGAGE CORPORATION 1 7.63% $8,729
    CORNERSTONE HOME LENDING, INC. 1 7.25% $15,297
    First Internet Bank of Indiana 1 5.75% $12,884
    Armed Forces Bank 1 7.00% $8,015
    FBC MORTGAGE, LLC 1 5.75% $7,306
    Princeton Mortgage Corporation 1 6.63% $8,734
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.25% $15,083
    Truist 1 6.63% $6,373
    MORTGAGE 1 INCORPORATED 1 7.63% $10,674
    First Financial Bank 1 6.00% $13,328
    RANLIFE, INC. 1 7.38% $5,101
    First Option Mortgage, LLC 1 6.75% $6,602
    CANOPY MORTGAGE, LLC 1 6.25% $7,048
    OCEANSIDE MORTGAGE COMPANY 1 5.75% $5,577
    East Coast Capital Corp. 1 6.50% $14,764
    AHL FUNDING 1 7.13% $15,650
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.75% $13,127
    North American Savings Bank, F.S.B. 1 6.25% $7,078
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.25% $17,335
    Blue Ridge Bank 1 7.13% $4,283
    First Mid Bank & Trust 1 7.38% $8,342
    Semper Home Loans, Inc. 1 5.75% $17,296

    The top Illinois FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,970 FHA loans originated. Their average total fees are $9,574, which is $2,961 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Illinois FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($4,057), Fortress Bank ($4,293), RUHL MORTGAGE, LLC ($4,442), RUOFF MORTGAGE COMPANY, INC. ($4,603) and FCB Banks ($4,772).

    The lowest rate Illinois FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.52%), DHI MORTGAGE COMPANY, LTD. (5.57%), EMM LOANS LLC (5.90%), NVR Mortgage Finance, Inc. (6.06%) and RUHL MORTGAGE, LLC (6.08%).

    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).