How does Lemont compare with Illinois?
The city's median is above the statewide median by $197,300. Prices sit in the middle price-to-income band; compare the payment with your own income rather than treating the median as a budget. The median is 53.8% of the conforming limit. A median-valued purchase fits the FHA base-loan limit at 3.5% down.
How much down payment and PMI would a typical Lemont home need?
| Down payment | Cash down | Estimated PMI / month | Estimated PITI + PMI | Income at 28% / 36% |
|---|---|---|---|---|
| 3% | $13,434 | $181 | $4,020 | $173,000 / $134,000 |
| 5% | $22,390 | $177 | $3,955 | $170,000 / $132,000 |
| 10% | $44,780 | $168 | $3,794 | $163,000 / $127,000 |
| 20% | $89,560 | $0 | $3,323 | $143,000 / $111,000 |
3%-down conventional products have borrower/program restrictions. PMI uses a fixed 0.5% annual loan-balance estimate at less than 20% down; it is not a credit-specific quote or an assumed discount by down payment. Payments include state-average tax and insurance and assume zero other debts.
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Is there down payment assistance in Lemont?
- Cook County Down Payment Assistance Program — 5 percent of the home's final first loan amount, up to $25,000; assistance (see official terms); county-level. Cook County Bureau of Economic Development (with Club 720 Solutions LLC) · Verified October 25, 2026
- IHDA Access Home — 6% of the purchase price up to $15,000; deferred; state-level. Illinois Housing Development Authority · Verified October 23, 2026
Conventional loans in the nearest eligible cities
Home loan options in Lemont
Frequently asked questions
Sources
- U.S. Census Bureau — ACS 2019–2023 5-Year Estimates
- FHFA — 2026 Conforming Loan Limit Values
- HUD — 2026 FHA Forward Mortgage Limits (county file)
- Fannie Mae Selling Guide
- NAIC — Homeowners Insurance Report, Data for 2023 (HO-3 average premium)
- Freddie Mac PMMS
- Cook County Down Payment Assistance Program
- IHDA Access Home
Data last updated November 5, 2026.
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.