For {CURRENT_YEAR}, the FHA loan limits in Oak-Lawn, located in Cook, IL, are set as follows: {DETAILS_LOAN_LIMIT_FHA1} for a single-family dwelling, {DETAILS_LOAN_LIMIT_FHA2} for two-unit residences, {DETAILS_LOAN_LIMIT_FHA3} for homes with three units, and {DETAILS_LOAN_LIMIT_FHA4} for four-unit buildings.
For conventional loans, the maximum permitted loan amounts are {DETAILS_LOAN_LIMIT_CONVENTIONAL1} for a single-family home, {DETAILS_LOAN_LIMIT_CONVENTIONAL2} for properties with two units, {DETAILS_LOAN_LIMIT_CONVENTIONAL3} for three-unit residences, and {DETAILS_LOAN_LIMIT_CONVENTIONAL4} for those with four units.
To find the top FHA rates available today, utilize our FHA calculator, which helps determine essential factors such as the required downpayment, income, credit, reserves, and the documentation needed for qualification.
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The Lendersa® calculator is designed to allow in-depth comparison of FHA rates and terms with other loan programs. Consider the options across Conventional loans, Jumbo loans, VA, USDA, Non-QM, and Hard Money loans in relation to FHA offerings.
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Examine the Loan Limits Comparison Table for {CURRENT_YEAR} in Oak-Lawn county, located in Cook, IL. This table compares the maximum loan amounts available for FHA, Conventional Conforming, Jumbo, USDA, VA, Non-QM, Super Jumbo, Reverse Mortgage (HECM), and Hard Money loans. For a more detailed analysis of qualification requirements like income, reserves, and credit, 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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