FIRST TIME HOME BUYER PROGRAMS ILLINOIS

FHA First Time Home Buyer Programs have been helping Illinois  residents since 1934 

 

FIRST TIME HOME BUYER PROGRAMS ILLINOIS

A knowledgeable & licensed Illinois 'First Time Home Buyer Program' Specialist can offer you a better loan including:

  • Low down payments (if any)

  • 24 Hour Pre-Approval

  • Low closing costs

  • Easier credit qualifying

  • Access to many of the unique

    State Specific Federal Government Backed Programs that may be available to Illinois First Time Buyers.

Illinois First Time Home Buyer Loan

If you’re buying your first home, then this is the perfect place to start. And don't fear: We have the first time home buyer specialist that answer all the questions you want to ask, — and, those you haven't thought of yet.  home easier and less expensive than any other types of real estate mortgage home loan programs.

Buy a home in Illinois with help from a Family Member

When buying a home, almost every lender will want to know where your down payment came from. If someone in your family is helping you with that down payment, it is called a Gift of Equity, a special FHA loan program.

Illinois USDA Home Loan

If you live in a small town, rural area or farmlands situated in a location approved by USDA Rural Development, you may be able to purchase a home with up to 100% financing. The United States Department of Agriculture (USDA) were designed to encourage rural development, meaning city homes are excluded. United States Department of Agriculture (USDA) sets lending guidelines for the program, which is why it can feel confident in your home financing decisions with step-by-step guidance from an experienced USDA Mortgage Banker.

 

Buying a 'Fixer Upper' in Illinois & Adding Additional Funds for Home Improvements

An FHA 203K Purchase and Rehab Loan can work in this situation. The 203K has many advantages. Put simply it is a mortgage insured by FHA that allows a home buyer to add rehab funds into a mortgage.

VA Veterans Home Loans in Illinois

The VA Home Loan is a Federal Program designed for United States Armed Forces, Military Retiree, Veterans, National Guard and Reservists, as well as Spouses.

Illinois Construction Home Loan

At last, a single loan that lets borrowers finance the construction of their home. You can even 'bundle the purchase of the land' land with your construction loan under what is called the 'One Time Close' loan. Guidelines for this program, can be found by clicking here: 'FHA Construction Loan Programs'  or here: 'VA Construction Loan Programs'

Buying a 2 Family or 3 Family Investment Property in Illinois

You can buy from a duplex residence all the way up to a 4 unit home with a Government Backed FHA Loan , as long as the property is owner occupied. .

Illinois FHA Home Loan

How it works:

 

√    Determine the type of FHA Government Loan that best fits your needs.

 

√       Complete an easy 2 minute application form.

 

√    We will forward your application to one and only one  FHA Approved Lender who can best help you based upon:

 

  • The type of loan you requested

  • Your down-payment (if purchase loan)

  • The location (State) your property is located

  • Your credit history

  • The best rate available for your loan

 

√    An FHA Loan Specialist will respond within 1 business day. They will explain what type of loan you are approved for, and the options available to you. 

 

√    Immediately that same day, the FHA Lender will overnight your pre-approval letter to you.

 

√    Review with no obligations your FHA Loan Pre-approval and locked rate. 

 

Note- It is very important that you keep this letter. It is your official pre-approval on bank letterhead with your 'locked rate', and if purchasing a house, it is equally important that you present this letter to the real estate agent to confirm your pre-qualification status.              

Illinois  FHA Lending Limits 2017

Illinois  Median Home Sale Price Price $188,000

 

County Name Single Duplex 3 Unit 4 Unit
ADAMS $275,665 $352,950 $426,625 $530,150
   QUINCY, IL-MO
ALEXANDER $275,665 $352,950 $426,625 $530,150
   CAPE GIRARDEAU, MO-IL
BOND $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
BOONE $339,250 $434,300 $524,950 $652,400
   ROCKFORD, IL
BROWN $275,665 $352,950 $426,625 $530,150
BUREAU $275,665 $352,950 $426,625 $530,150
   OTTAWA-PERU, IL
CALHOUN $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
CARROLL $275,665 $352,950 $426,625 $530,150
CASS $275,665 $352,950 $426,625 $530,150
CHAMPAIGN $275,665 $352,950 $426,625 $530,150
   CHAMPAIGN-URBANA, IL
CHRISTIAN $275,665 $352,950 $426,625 $530,150
   TAYLORVILLE, IL
CLARK $275,665 $352,950 $426,625 $530,150
   NON-METRO
CLAY $275,665 $352,950 $426,625 $530,150
CLINTON $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
COLES $275,665 $352,950 $426,625 $530,150
   CHARLESTON-MATTOON, IL
COOK $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
CRAWFORD $275,665 $352,950 $426,625 $530,150
CUMBERLAND $275,665 $352,950 $426,625 $530,150
   CHARLESTON-MATTOON, IL
DE WITT $275,665 $352,950 $426,625 $530,150
   BLOOMINGTON, IL
DEKALB $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
DOUGLAS $275,665 $352,950 $426,625 $530,150
DUPAGE $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
EDGAR $275,665 $352,950 $426,625 $530,150
EDWARDS $275,665 $352,950 $426,625 $530,150
EFFINGHAM $275,665 $352,950 $426,625 $530,150
   EFFINGHAM, IL
FAYETTE $275,665 $352,950 $426,625 $530,150
   NON-METRO
FORD $275,665 $352,950 $426,625 $530,150
   CHAMPAIGN-URBANA, IL
FRANKLIN $275,665 $352,950 $426,625 $530,150
FULTON $275,665 $352,950 $426,625 $530,150
   CANTON, IL
GALLATIN $275,665 $352,950 $426,625 $530,150
GREENE $275,665 $352,950 $426,625 $530,150
GRUNDY $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
HAMILTON $275,665 $352,950 $426,625 $530,150
HANCOCK $275,665 $352,950 $426,625 $530,150
   FORT MADISON-KEOKUK, IA-IL-MO
HARDIN $275,665 $352,950 $426,625 $530,150
HENDERSON $275,665 $352,950 $426,625 $530,150
   BURLINGTON, IA-IL
HENRY $275,665 $352,950 $426,625 $530,150
   DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
IROQUOIS $275,665 $352,950 $426,625 $530,150
JACKSON $275,665 $352,950 $426,625 $530,150
   CARBONDALE-MARION, IL
JASPER $275,665 $352,950 $426,625 $530,150
JEFFERSON $275,665 $352,950 $426,625 $530,150
   MOUNT VERNON, IL
JERSEY $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
JO DAVIESS $275,665 $352,950 $426,625 $530,150
JOHNSON $275,665 $352,950 $426,625 $530,150
KANE $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
KANKAKEE $275,665 $352,950 $426,625 $530,150
   KANKAKEE, IL
KENDALL $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
KNOX $275,665 $352,950 $426,625 $530,150
   GALESBURG, IL
LAKE $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
LASALLE $275,665 $352,950 $426,625 $530,150
   OTTAWA-PERU, IL
LAWRENCE $275,665 $352,950 $426,625 $530,150
LEE $275,665 $352,950 $426,625 $530,150
   DIXON, IL
LIVINGSTON $275,665 $352,950 $426,625 $530,150
   PONTIAC, IL
LOGAN $275,665 $352,950 $426,625 $530,150
   LINCOLN, IL
MACON $275,665 $352,950 $426,625 $530,150
   DECATUR, IL
MACOUPIN $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
MADISON $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
MARION $275,665 $352,950 $426,625 $530,150
   CENTRALIA, IL
MARSHALL $275,665 $352,950 $426,625 $530,150
   PEORIA, IL
MASON $275,665 $352,950 $426,625 $530,150
MASSAC $275,665 $352,950 $426,625 $530,150
   PADUCAH, KY-IL
MCDONOUGH $275,665 $352,950 $426,625 $530,150
   MACOMB, IL
MCHENRY $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
MCLEAN $275,665 $352,950 $426,625 $530,150
   BLOOMINGTON, IL
MENARD $275,665 $352,950 $426,625 $530,150
   SPRINGFIELD, IL
MERCER $275,665 $352,950 $426,625 $530,150
   DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
MONROE $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
MONTGOMERY $275,665 $352,950 $426,625 $530,150
MORGAN $275,665 $352,950 $426,625 $530,150
   JACKSONVILLE, IL
MOULTRIE $275,665 $352,950 $426,625 $530,150
OGLE $275,665 $352,950 $426,625 $530,150
   ROCHELLE, IL
PEORIA $275,665 $352,950 $426,625 $530,150
   PEORIA, IL
PERRY $275,665 $352,950 $426,625 $530,150
PIATT $275,665 $352,950 $426,625 $530,150
   CHAMPAIGN-URBANA, IL
PIKE $275,665 $352,950 $426,625 $530,150
POPE $275,665 $352,950 $426,625 $530,150
PULASKI $275,665 $352,950 $426,625 $530,150
PUTNAM $275,665 $352,950 $426,625 $530,150
   OTTAWA-PERU, IL
RANDOLPH $275,665 $352,950 $426,625 $530,150
RICHLAND $275,665 $352,950 $426,625 $530,150
   NON-METRO
ROCK ISLAND $275,665 $352,950 $426,625 $530,150
   DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
SALINE $275,665 $352,950 $426,625 $530,150
SANGAMON $275,665 $352,950 $426,625 $530,150
   SPRINGFIELD, IL
SCHUYLER $275,665 $352,950 $426,625 $530,150
SCOTT $275,665 $352,950 $426,625 $530,150
   JACKSONVILLE, IL
SHELBY $275,665 $352,950 $426,625 $530,150
ST. CLAIR $275,665 $352,950 $426,625 $530,150
   ST. LOUIS, MO-IL
STARK $275,665 $352,950 $426,625 $530,150
   PEORIA, IL
STEPHENSON $275,665 $352,950 $426,625 $530,150
   FREEPORT, IL
TAZEWELL $275,665 $352,950 $426,625 $530,150
   PEORIA, IL
UNION $275,665 $352,950 $426,625 $530,150
VERMILION $275,665 $352,950 $426,625 $530,150
   DANVILLE, IL
WABASH $275,665 $352,950 $426,625 $530,150
WARREN $275,665 $352,950 $426,625 $530,150
WASHINGTON $275,665 $352,950 $426,625 $530,150
WAYNE $275,665 $352,950 $426,625 $530,150
   NON-METRO
WHITE $275,665 $352,950 $426,625 $530,150
WHITESIDE $275,665 $352,950 $426,625 $530,150
   STERLING, IL
WILL $365,700 $468,150 $565,900 $703,250
   CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI
WILLIAMSON $275,665 $352,950 $426,625 $530,150
   CARBONDALE-MARION, IL
WINNEBAGO $339,250 $434,300 $524,950 $652,400
   ROCKFORD, IL
WOODFORD $275,665 $352,950 $426,625 $530,150
   PEORIA, IL