Skip to content
Purchase Mortgage Loan
Get Pre-Approved

FHA loans in Danville, IL

Quick answer

The 2026 FHA loan limit in Danville, IL (Vermilion County) is $541,287 for a single-family home, enough for a purchase price up to about $560,000 with 3.5% down. On the $76,800 median home value, that down payment is about $2,688 and the estimated payment is $801/month at 7.18%, which needs roughly $35,000 a year in income.

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

Median household income: $44,239; value-to-income ratio 1.74. Danville ranks 221 by home value and 70 by population among 224 places in our IL dataset.

What does an FHA loan cost on a typical Danville home?

ItemDanville
Median home value (Census ACS)$76,800
Illinois median home value$250,500
Down payment (3.5%)$2,688
Loan incl. 1.75% upfront MIP$75,409
Estimated monthly payment (PITI + MI)$801
Income needed (28% / 36%)$35,000 / $27,000
Vermilion County 2026 FHA limit (1 unit)$541,287
Max purchase price at the limit$560,000

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

Payment includes Illinois's 2.07% effective property tax rate (Census ACS), $1,480/yr homeowners insurance (NAIC state average) and 0.55% annual FHA MIP.

What is the 2026 FHA loan limit in Danville?

Danville is in Vermilion County where HUD's 2026 one-unit FHA limit is $541,287. With the minimum 3.5% down, that caps the purchase price at about $560,000; above that you'd need a bigger down payment or a conventional loan (conforming limit $832,750).

The Danville median home value of $76,800 is 69% below the Illinois median, and within what the county limit supports.

Which down payment assistance programs can Danville buyers use?

FHA loans in nearby cities

RantoulUrbanaChampaignCharlestonMattoonKankakee

FHA loan FAQs for Danville

Danville is in Vermilion County, where HUD's 2026 FHA limit for a one-unit home is $541,287. With 3.5% down, that supports a purchase price up to about $560,000.

3.5% of $76,800 is about $2,688 with a 580+ credit score (10%, or $7,680, with a 500–579 score), plus closing costs.

At the $76,800 median value (below the Illinois median of $250,500), the estimated payment of $801/month at 7.18% needs about $35,000 a year under the 28% housing guideline, or $27,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 1 statewide programs are verified for this city (1 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with FHA lenders in Danville

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.