In the year of 2025, the FHA loan limit within Grandwood-Park county, part of Lake, IL, stands at $379,500 for properties categorized as single-family homes. For real estate accommodating two units, the limit is $485,800, while for three-unit buildings, you are looking at a cap of $587,250. For the largest of these multi-unit properties, covering four units, the upper limit reaches $729,800.
When it comes to conventional loans, the maximum permissible amount for a single-family dwelling is $548,250. This ceiling extends to $702,000 for buildings with two units. Moving on to three-unit residences, the restriction rises to $848,500, while for four-unit properties, the cap peaks at $1,054,500.
Feel free to employ our specially designed FHA calculator, which facilitates access to today’s most competitive FHA rates. It meticulously helps identify necessary aspects such as required downpayment, accompanying income prerequisites, expected credit scores, reserves, and document essentials needed for qualification.
Conduct a comprehensive comparison of diverse loan offerings available from a full complement of 100 esteemed lenders to determine the most fitting option for your financial needs.
The versatile Lendersa® calculator allows for an extensive evaluation of FHA rates and terms, juxtaposing them with those available from an array of other loan programs. Delve into and thoroughly review lending options such as Conventional loans, Jumbo loans, VA, USDA, Non-QM, and various hard money loans, all alongside FHA alternatives.
With an expansive data pool drawn from a multitude of lenders, Lendersa® efficiently aggregates and analyzes this information in mere seconds, crafting a comparison uniquely suited to your individual financial landscape and requirements.
Utilize the comprehensive Loan Limits Comparison Table for 2025, specifically curated for Grandwood-Park county, Lake, IL. This table allows for effective comparison of the maximum loan amounts across FHA, Conventional Conforming, Jumbo, USDA, VA, Non-QM, Super Jumbo, Reverse Mortgage (HECM), and hard money loan products. To rigorously assess qualification requirements, including essentials like income, credit, and reserves, Lendersa® provides the innovative Super Loan Integrated Qualifier (SLIQ™) as a significant asset in your decision-making process.
| SFR | 2 Units | 3 Units | 4 Units | |
|---|---|---|---|---|
| FHA | $379,500 | $485,800 | $587,250 | $729,800 |
| Conventional Conforming | $548,250 | $702,000 | $848,500 | $1,054,500 |
| Convetional High Balance | $548,250 | $702,000 | $848,500 | $1,054,500 |
| USDA | $0 | $0 | $0 | $0 |
| VA | $548,250 | $702,000 | $848,500 | $1,054,500 |
| None-Qm | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 |
| None- QM- Super Jumo | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 |
| Reverse Mortgage (HECM) | $822,375 | $822,375 | $822,375 | $822,375 |
| Proprietary Reverse Mortgage (Non-FHA) | $4,000,000 | $4,000,000 | $4,000,000 | $4,000,000 |
| Hard Money | $90,000,000 | $90,000,000 | $90,000,000 | $90,000,000 |
|
|
|
|
|
|
|
|
FHA Guides
TYPES OF LOANS WE HANDLE:
CITIES CLOSE BY:
"The drum of the realization of the promise is beating, we are sweeping the road to the sky. Your joy is here today, what remains for tomorrow? The armies of the day have chased the army of the night..."
NMLS 1795154
