USDA and FHA Pro and Con in Island-Lake, Lake County, IL
In 2025, the USDA loan limit in Island-Lake, located in Lake county, IL, is $0. Meanwhile, the FHA cap for a single-family home is $379,500.
Make use of the Lendersa® USDA loan calculator to assess and juxtapose today's top USDA and FHA rates. This will help you identify the required income, credit, reserves, and documentation for qualification. Our advanced mortgage calculator compares USDA, FHA, Conforming, and VA programs side by side, guiding you to choose the most appropriate option for your financial situation in .
Loan Limits and Down Payment Requirements for 2025 in Island-Lake, Lake County, IL
Loan Type
Loan Limit
Down Payment
USDA
$0
0%
FHA
$379,500
3.5%
Conventional Conforming
$548,250
3%
Exploring USDA and FHA Loan Options in Island-Lake, IL
Lendersa® strives to provide you with the best possible USDA or FHA loans swiftly and hassle-free. Begin with one of three entry points to connect with matching lenders and USDA loan programs.
The USDA home loan, guaranteed by the U.S. Department of Agriculture, also known as the USDA rural development loan or mortgage, is exclusive to rural areas. Unlike FHA loans, which require a minimum 3.5% down payment, USDA loans need no down payment, making them highly accessible.
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