Avg Home Value
$285,000
Lending Limit
$1,209,750
Illinois Housing Market Analysis
In Illinois, where the average home value is $285,000, the standard FHA HECM program is typically the perfect fit. Because property values are moderate, you can usually access the maximum allowable percentage of your equity without hitting federal lending caps.
Loan Limits in Illinois
For 2026, the federal lending limit is $1,209,750.
Since the median home value in Illinois is below this cap, your loan amount will be determined strictly by your age and current interest rates, not by the lending cap.
Specific Laws for Illinois
Illinois has specific regulations that go beyond federal HUD guidelines:
Illinois has specific anti-predatory lending rules and requires a 3-day cooling-off period after counseling.
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