Mortgage pre-approval in Illinois.

Closing commonly handled by

attorneys and a title company

State housing agency

Illinois Housing Development Authority (IHDA)

Stellar agency approval

Not a participating lender

2026 conforming limit

$832,750 in every county

2026 FHA limit

$541,287 to $541,287, by county

Our license

Residential Mortgage License

Company NMLS

#2190975

Your officer

Steve Umansky, NMLS #61764

What we offer in Illinois

Purchase and refinance loans for primary residences, second homes and investment properties. We offer conventional loans with low down payment options, FHA loans with a low down payment, VA and USDA loans with little or no money down for eligible buyers and properties, and jumbo, renovation and non-QM financing, including bank statement and DSCR loans. Full list: all loan programs.

How closings work in Illinois

Illinois closings commonly involve an attorney for the buyer, an attorney for the seller and a title company. Property taxes are paid a year behind, so the seller gives the buyer a credit at closing for taxes not yet billed, and we show that credit in your numbers.

Transfer and recording taxes. Illinois charges a state real estate transfer tax of 50 cents for each $500 of the price. Counties and home-rule municipalities, the City of Chicago among them, charge their own transfer taxes on top, and local ordinances and the contract determine who pays each one. Source: 35 ILCS 200/31-10 and Illinois Department of Revenue. Property taxes are set locally; we take the figure from the tax record for the address.

Loan limits in Illinois

For 2026 the conforming loan limit for a one-unit home is $832,750 in every county. Loans above the county limit are jumbo. FHA limits are set separately by HUD for each county. Sources: FHFA conforming loan limit values and HUD FHA mortgage limits.

First-time buyer programs in Illinois

The Illinois Housing Development Authority (IHDA) runs Illinois’s homebuyer programs, which can include a first mortgage and help with the down payment and closing costs for buyers who meet its income and purchase price limits. This is general information: Stellar Mortgage is not a participating lender for these programs. We offer conventional loans with low down payment options, FHA loans with a low down payment, VA and USDA loans with little or no money down for eligible buyers and properties, and jumbo, renovation and non-QM financing, and we will tell you when an agency program looks like the better fit. Official source: Illinois Housing Development Authority (IHDA). See also our first-time buyer guide.

USDA eligibility is decided address by address: check the property on the USDA eligibility map. VA: no VA minimum credit score; lender overlays apply.

Questions Illinois buyers ask

Illinois notice. For licensing information, go to: www.nmlsconsumeraccess.org. Stellar Mortgage Corporation, NMLS #2190975. Steve Umansky, NMLS #61764.

Loan limits, tax rates and agency programs are set by third parties and change. Confirm current figures before relying on them. Not a commitment to lend.