Mortgage lender in Cook County, IL

Buying in Cook County

Cook County, with its county seat in Chicago, also takes in Evanston, Schaumburg, Cicero, Arlington Heights, Oak Park, Oak Lawn and Orland Park. Cook County files are handled by Steve Umansky, Sr. Branch Manager, NMLS #61764, who is licensed in Illinois, from our Southampton, PA office.

2026 conforming limit

$832,750

2026 FHA limit

$541,287 (one-unit, set by HUD)

Above the conforming limit

Jumbo pricing

Closing commonly handled by

attorneys and a title company

State housing agency

Illinois Housing Development Authority (IHDA) (general information; not a participating lender)

Your officer

Steve Umansky, NMLS #61764

2026 limits for a one-unit property. Cook County is not designated a high-cost area for conforming loans, so the national baseline of $832,750 applies. Sources: FHFA conforming loan limit values and HUD FHA mortgage limits.

Cook County: Chicago and its inner suburbs

In the city, condominiums and two- to four-flats are as common as single-family homes. A condominium means the association’s budget, reserves and owner-occupancy are reviewed along with the buyer. Buying a two- to four-flat to live in follows owner-occupant rules, and rent from the other units can sometimes be counted, depending on the program.

Property taxes are a large part of the payment and are billed a year behind, so the seller credits the buyer at closing for taxes not yet billed; we show that credit in your numbers. The City of Chicago and some suburbs charge their own transfer taxes in addition to the state and county taxes. Attorneys represent both sides at most closings.

Cook County by the numbers

Median home value

$324,500 (Census Bureau, ACS 2020–2024, table B25077)

Typical property tax

About 1.91% of home value a year: median tax bill $6,191 on a median value of $324,500 (Census Bureau, ACS 2020–2024, table B25103)

Transfer tax

State transfer tax of 50 cents per $500 of the price; counties and many municipalities add their own (35 ILCS 200/31-10)

Largest communities

Chicago, Cicero, Schaumburg, Evanston (Census Bureau, ACS 2020–2024, table B01003)

The county median home value is $324,500. The 2026 one-unit conforming loan limit here is $832,750 and the FHA limit is $541,287.

Census figures are survey estimates for owner-occupied homes, not appraisals or tax quotes. We use the actual tax bill for the property when we quote.

Closing and programs in Illinois

Closings in Illinois are typically handled by an attorneys and a title company. The closing process, state transfer and recording taxes and first-time buyer programs are covered on the Illinois page. Property taxes are set locally; we take the figure from the tax record for the address.

Questions Cook County buyers ask

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

Limits shown are the 2026 FHFA and HUD figures for Cook County. Loan limits, tax rates and agency programs are set by third parties and change. Not a commitment to lend.