In 2025, the FHA loan limits for Island-Lake county, Lake, IL are allocated as follows: $379,500 for a single-family home, $485,800 for 2 units, $587,250 for 3 units, and $729,800 for 4-unit properties.
Conventional loans have maximum amounts set for a single-family residence at $548,250. For a property with 2 units, the limit is $702,000, for 3 units, it becomes $848,500, and for 4-unit homes, it reaches $1,054,500.
Our FHA calculator provides insights into today’s best FHA rates and helps determine necessary downpayment, income, credit score, reserves, and documents for qualification.
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The Lendersa® calculator facilitates a comprehensive comparison of FHA rates and terms alongside other loan options. Engage in exploring and comparing products like Conventional loans, Jumbo, VA, USDA, Non-QM, and hard money loans against FHA offerings.
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The Loan Limits Comparison Table for 2025 in Island-Lake county of Lake, IL, allows comprehensive evaluation of maximum amounts for FHA, Conventional, Jumbo, USDA, VA, Non-QM, Super Jumbo, Reverse Mortgage (HECM), and hard money loans. To effectively compare criteria like income, reserves, and credit necessary for qualification, utilize the Lendersa® Super Loan Integrated Qualifier (SLIQ™).
| 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 |
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