Skip to content
Purchase Mortgage Loan
Get Pre-Approved

FHA loans in Illinois

Quick answer

FHA loans in Illinois require 3.5% down with a 580+ credit score; on a $250,500 home that's about $8,768. County FHA limits start at $541,287 for one-unit homes in lower-cost areas.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

FHA loan snapshot for Illinois

ItemEstimate
Minimum down payment3.5%
Minimum credit score580
Typical IL home value$250,500
3.5% down on typical home$8,768
20% down on typical home$50,100
Avg. effective property tax2.07%/yr (~$432/mo)
Income for typical home (31% rule)$88,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Illinois programs pair with FHA loans?

  • IHDAccess Forgivable: Down payment assistance forgiven monthly over 10 years.
  • IHDAccess Deferred: A 0% deferred loan repaid when you sell, refinance or pay off the mortgage.
  • IHDAccess Repayable: A larger assistance amount repaid monthly over 10 years.

Details and current limits: Illinois Housing Development Authority (IHDA).

Who is an FHA loan best for?

FHA is designed for buyers with modest savings or credit that's still being built. Because the government insures the lender against loss, lenders can approve borrowers they might otherwise decline.

  • Credit scores between 580 and 680.
  • Debt-to-income ratios up to about 50% with compensating factors.
  • Buyers using gift funds for the entire down payment.
  • Buyers who had a bankruptcy 2+ years ago or foreclosure 3+ years ago.

How much does FHA mortgage insurance cost?

The upfront premium (UFMIP) is 1.75% of the base loan amount and is usually rolled into the loan. The annual premium for most 30-year loans is 0.55% of the balance, paid monthly. With less than 10% down, annual MIP lasts for the life of the loan; with 10% or more, it ends after 11 years. Many owners later refinance into a conventional loan to drop MIP.

FHA loans in Illinois cities

FHA in ChicagoFHA in AuroraFHA in JolietFHA in NapervilleFHA in RockfordFHA in ElginFHA in SpringfieldFHA in PeoriaFHA in WaukeganFHA in ChampaignFHA in CiceroFHA in BloomingtonFHA in SchaumburgFHA in EvanstonFHA in Arlington HeightsFHA in BolingbrookFHA in DecaturFHA in PalatineFHA in SkokieFHA in Des PlainesFHA in Orland ParkFHA in Oak LawnFHA in BerwynFHA in Mount ProspectFHA in Tinley ParkFHA in WheatonFHA in Oak ParkFHA in NormalFHA in Hoffman EstatesFHA in Downers GroveFHA in GlenviewFHA in PlainfieldFHA in ElmhurstFHA in LombardFHA in Buffalo GroveFHA in MolineFHA in BellevilleFHA in RomeovilleFHA in BartlettFHA in DeKalbFHA in Crystal LakeFHA in Carol StreamFHA in Park RidgeFHA in QuincyFHA in StreamwoodFHA in WheelingFHA in UrbanaFHA in CarpentersvilleFHA in Hanover ParkFHA in Rock IslandFHA in AddisonFHA in OswegoFHA in Calumet CityFHA in NorthbrookFHA in WoodridgeFHA in Glendale HeightsFHA in St. CharlesFHA in O'FallonFHA in Elk Grove VillageFHA in Pekin

Frequently asked questions

Yes. FHA loans are available statewide in Illinois through approved lenders, subject to county loan limits where they apply.

Often yes. Illinois Housing Development Authority (IHDA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Illinois.

Get matched with FHA lenders in Illinois

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures 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.