Conforming Loan Limits for 2024 in Illinois

If you're looking to buy a home in Illinois, it's important to know the Conforming Loan Limits for 2024. MintRates compiled the Conforming Loan Limits data from Federal Housing Finance Agency. These limits set the maximum amount you can borrow from lenders while staying within the guidelines of Fannie Mae and Freddie Mac.

Key points:

Conforming Loan Limits are set annually by the FHFA for all states, including Illinois.
Conforming Loan Limits adjust yearly based on the national housing market.
In Illinois, Conforming Loan Limits vary by county, with higher limits in more expensive areas.
Conforming Loan Limits differ for single-family and multi-unit homes.
Some Illinois counties may qualify for higher limits due to the cost of living.
Loans above Conforming Loan Limits are considered jumbo loans and follow different guidelines.

Summary of Illinois Conforming Loan Limits

In 2024, the Conforming Loan Limits in Illinois are set to guide how much you can borrow based on the type of property and the number of units. Here’s a quick overview of the minimum and maximum loan amounts for each property type set in Illinois for 2024:

One-Unit Limit: $766,550
Two-Unit Limit: $981,500
Three-Unit Limit: $1,186,350
Four-Unit Limit: $1,474,400

Find the 2024 Illinois Conforming Loan Limits by County from the list below to explore detailed loan limits for different unit types.