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Illinois

2024 Loan Rules & Limits

📊 Loan Limits (2024)

Conforming Limit
$766,550
FHFA single-family baseline
FHA Floor
$498,257
HUD single-family baseline

💰 Tax Climate

State Income Tax
Yes

🏛️ State Housing Agency

IHDA

Available Programs

  • IHDA Access Forgivable
  • IHDA Access Deferred
  • IHDA SmartBuy

📋 Lending Notes

Standard limits statewide. Chicago area has high property taxes — factor into PITI affordability. Illinois has no homestead exemption for most properties.

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Loan limits effective January 1, 2024. Actual limits vary by county. Always verify current limits with your lender or at hud.gov and fhfa.gov.