Skip to content
Purchase Mortgage Loan
Get Pre-Approved

FHA loans in Wauconda, IL

Quick answer

The 2026 FHA loan limit in Wauconda, IL (Lake 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 $268,300 median home value, that down payment is about $9,391 and the estimated payment is $2,490/month at 7.18%, which needs roughly $107,000 a year in income.

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

Median household income: $112,438; value-to-income ratio 2.39. Wauconda ranks 103 by home value and 176 by population among 224 places in our IL dataset.

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

ItemWauconda
Median home value (Census ACS)$268,300
Illinois median home value$250,500
Down payment (3.5%)$9,391
Loan incl. 1.75% upfront MIP$263,440
Estimated monthly payment (PITI + MI)$2,490
Income needed (28% / 36%)$107,000 / $83,000
Lake 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 Wauconda?

Wauconda is in Lake 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 Wauconda median home value of $268,300 is 7% above the Illinois median, and within what the county limit supports.

Which down payment assistance programs can Wauconda buyers use?

FHA loans in nearby cities

Round LakeLake ZurichMundeleinGrayslakeCaryRound Lake Beach

FHA loan FAQs for Wauconda

Wauconda is in Lake 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 $268,300 is about $9,391 with a 580+ credit score (10%, or $26,830, with a 500–579 score), plus closing costs.

At the $268,300 median value (above the Illinois median of $250,500), the estimated payment of $2,490/month at 7.18% needs about $107,000 a year under the 28% housing guideline, or $83,000 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 Wauconda

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.