Jumbo mortgage loans in Illinois provide borrowers an easy way to finance big home purchases in high-cost areas.
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JD MORTGAGE® connects you with lenders offering low to no down payment mortgages designed specifically for high-income professionals. We find the lenders that allow jumbo loan balances, relaxed debt-to-income ratios and typically do not require private mortgage insurance (PMI).
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The “Land of Lincoln” offers its residents a classic version of midwestern living. Everything from farmland to major cities is within reach in Illinois, making it a great place for many to live. From some of the most iconic professional sports teams to the architectural wonders of big city, Chicago, Illinois has something for everyone.
Whether you live in Chicago or a rural community, real estate prices in Illinois are on the rise. According to the Illinois Association of Realtors, the median sales price of a home in Alabama is $276,000. While that median is below the limits on conforming loans, residents in search of larger properties or homes in competitive regions of the state may need a jumbo loan.
For the most recent year, the HDMA data places Illinois 12th in the country in terms of mortgage origination activity, with a total of $17.66 billion in jumbo mortgages originated, showing that many in the state are turning to these convenient financial products.
The jumbo loan limit in Illinois is $726,200 for all counties in the state. Any loan that exceeds $726,200 is a jumbo loan in the state of Illinois. Any loan that is less than $726,200 is a conforming loan in the state of Illinois.
| Illinois County | Illinois Jumbo loan (1-unit) | Illinois Conforming loan limit (1-unit) | Illinois FHA loan limit (1-unit) |
|---|---|---|---|
| Adams | $726,200+ | $726,200 | $420,680 |
| Alexander | $726,200+ | $726,200 | $420,680 |
| Bond | $726,200+ | $726,200 | $420,680 |
| Boone | $726,200+ | $726,200 | $420,680 |
| Brown | $726,200+ | $726,200 | $420,680 |
| Bureau | $726,200+ | $726,200 | $420,680 |
| Calhoun | $726,200+ | $726,200 | $420,680 |
| Carroll | $726,200+ | $726,200 | $420,680 |
| Cass | $726,200+ | $726,200 | $420,680 |
| Champaign | $726,200+ | $726,200 | $420,680 |
| Christian | $726,200+ | $726,200 | $420,680 |
| Clark | $726,200+ | $726,200 | $420,680 |
| Clay | $726,200+ | $726,200 | $420,680 |
| Clinton | $726,200+ | $726,200 | $420,680 |
| Coles | $726,200+ | $726,200 | $420,680 |
| Cook | $726,200+ | $726,200 | $420,680 |
| Crawford | $726,200+ | $726,200 | $420,680 |
| Cumberland | $726,200+ | $726,200 | $420,680 |
| Dekalb | $726,200+ | $726,200 | $420,680 |
| De Witt | $726,200+ | $726,200 | $420,680 |
| Douglas | $726,200+ | $726,200 | $420,680 |
| Dupage | $726,200+ | $726,200 | $420,680 |
| Edgar | $726,200+ | $726,200 | $420,680 |
| Edwards | $726,200+ | $726,200 | $420,680 |
| Effingham | $726,200+ | $726,200 | $420,680 |
| Fayette | $726,200+ | $726,200 | $420,680 |
| Ford | $726,200+ | $726,200 | $420,680 |
| Franklin | $726,200+ | $726,200 | $420,680 |
| Fulton | $726,200+ | $726,200 | $420,680 |
| Gallatin | $726,200+ | $726,200 | $420,680 |
| Greene | $726,200+ | $726,200 | $420,680 |
| Grundy | $726,200+ | $726,200 | $420,680 |
| Hamilton | $726,200+ | $726,200 | $420,680 |
| Hancock | $726,200+ | $726,200 | $420,680 |
| Hardin | $726,200+ | $726,200 | $420,680 |
| Henderson | $726,200+ | $726,200 | $420,680 |
| Henry | $726,200+ | $726,200 | $420,680 |
| Iroquois | $726,200+ | $726,200 | $420,680 |
| Jackson | $726,200+ | $726,200 | $420,680 |
| Jasper | $726,200+ | $726,200 | $420,680 |
| Jefferson | $726,200+ | $726,200 | $420,680 |
| Jersey | $726,200+ | $726,200 | $420,680 |
| Jo Daviess | $726,200+ | $726,200 | $420,680 |
| Johnson | $726,200+ | $726,200 | $420,680 |
| Kane | $726,200+ | $726,200 | $420,680 |
| Kankakee | $726,200+ | $726,200 | $420,680 |
| Kendall | $726,200+ | $726,200 | $420,680 |
| Knox | $726,200+ | $726,200 | $420,680 |
| Lake | $726,200+ | $726,200 | $420,680 |
| La Salle | $726,200+ | $726,200 | $420,680 |
| Lawrence | $726,200+ | $726,200 | $420,680 |
| Lee | $726,200+ | $726,200 | $420,680 |
| Livingston | $726,200+ | $726,200 | $420,680 |
| Logan | $726,200+ | $726,200 | $420,680 |
| Mcdonough | $726,200+ | $726,200 | $420,680 |
| Mchenry | $726,200+ | $726,200 | $420,680 |
| Mclean | $726,200+ | $726,200 | $420,680 |
| Macon | $726,200+ | $726,200 | $420,680 |
| Macoupin | $726,200+ | $726,200 | $420,680 |
| Madison | $726,200+ | $726,200 | $420,680 |
| Marion | $726,200+ | $726,200 | $420,680 |
| Marshall | $726,200+ | $726,200 | $420,680 |
| Mason | $726,200+ | $726,200 | $420,680 |
| Massac | $726,200+ | $726,200 | $420,680 |
| Menard | $726,200+ | $726,200 | $420,680 |
| Mercer | $726,200+ | $726,200 | $420,680 |
| Monroe | $726,200+ | $726,200 | $420,680 |
| Montgomery | $726,200+ | $726,200 | $420,680 |
| Morgan | $726,200+ | $726,200 | $420,680 |
| Moultrie | $726,200+ | $726,200 | $420,680 |
| Ogle | $726,200+ | $726,200 | $420,680 |
| Peoria | $726,200+ | $726,200 | $420,680 |
| Perry | $726,200+ | $726,200 | $420,680 |
| Piatt | $726,200+ | $726,200 | $420,680 |
| Pike | $726,200+ | $726,200 | $420,680 |
| Pope | $726,200+ | $726,200 | $420,680 |
| Pulaski | $726,200+ | $726,200 | $420,680 |
| Putnam | $726,200+ | $726,200 | $420,680 |
| Randolph | $726,200+ | $726,200 | $420,680 |
| Richland | $726,200+ | $726,200 | $420,680 |
| Rock Island | $726,200+ | $726,200 | $420,680 |
| St. Clair | $726,200+ | $726,200 | $420,680 |
| Saline | $726,200+ | $726,200 | $420,680 |
| Sangamon | $726,200+ | $726,200 | $420,680 |
| Schuyler | $726,200+ | $726,200 | $420,680 |
| Scott | $726,200+ | $726,200 | $420,680 |
| Shelby | $726,200+ | $726,200 | $420,680 |
| Stark | $726,200+ | $726,200 | $420,680 |
| Stephenson | $726,200+ | $726,200 | $420,680 |
| Tazewell | $726,200+ | $726,200 | $420,680 |
| Union | $726,200+ | $726,200 | $420,680 |
| Vermilion | $726,200+ | $726,200 | $420,680 |
| Wabash | $726,200+ | $726,200 | $420,680 |
| Warren | $726,200+ | $726,200 | $420,680 |
| Washington | $726,200+ | $726,200 | $420,680 |
| Wayne | $726,200+ | $726,200 | $420,680 |
| White | $726,200+ | $726,200 | $420,680 |
| Whiteside | $726,200+ | $726,200 | $420,680 |
| Will | $726,200+ | $726,200 | $420,680 |
| Williamson | $726,200+ | $726,200 | $420,680 |
| Winnebago | $726,200+ | $726,200 | $420,680 |
| Woodford | $726,200+ | $726,200 | $420,680 |
If you’re in the market for a home in Illinois, consider these jumbo mortgage loans that are available to state residents.
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about their jumbo mortgage rates and here’s what we heard back:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan options and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
JPMorgan Chase Bank is one of the oldest banks in the United States, tracing its roots back to the 18th-century and JP Morgan himself. As one of the Big Four banks, it’s not a surprise that they have a competitive jumbo mortgage program in addition to a variety of other financing options.
We contacted Chase Bank to get additional details about their jumbo mortgage. Here are some key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Fifth Third Bank is headquartered in Cincinnati, Ohio and is one of the largest consumer banks in the country. The bank’s unique name came from a 1909 merger between Third National Bank and Fifth National Bank. The bank offers a full suite of financial products, including jumbo mortgages.
We contacted Fifth Third Bank to learn about their jumbo loan mortgage specifically. Here are the important details:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Due to the skyrocketing prices of new homes in Illinois, more and more buyers are finding it difficult to finance a home in the state. Fortunately, Illinois’s jumbo loans offer these would-be buyers an easy way to do just that. Any homebuyer will want to take a look at the pros and cons involved first, however.
The main “pro” of an Illinois jumbo loan (a “non-conforming loan”),is that it can allow you to buy a bigger or more expensive home with a single loan. Conventional loans must adhere to so-called “conforming’ limits, meaning they can’t go over a certain amount, depending on the state. In Illinois, that means anyone who wants to buy a home that is over $647,200 will need to cobble together multiple loans, unless they have sufficient cash on hand to make up the difference.
Illinois jumbo loans also require a smaller down payment than most conventional loans, but all of that comes at a price. You may find that you have a higher interest rate with one of these mortgages, which can add up to a tidy sum over the life of the loan. You will also have to have pretty sterling credit to qualify for a jumbo loan in Illinois.
If you have a good or excellent credit score, an Illinois jumbo loan might be a perfect choice for you. With stricter requirements and higher risks, jumbo loans can provide you with the financing you need but will require more information from you and take a bit longer. When the alternative is multiple loans, however, a jumbo loan can make for a simpler process overall.
Conforming loan limits are set by the Federal Housing Finance Agency (FHFA), which has regulatory authority over Fannie Mae and Freddie Mac, the two government-backed home loan entities that buy most of the mortgages made in the U.S. from mortgage lenders and resell them to private investors.
Jumbo loans are a good fit if you don’t want to put a large down payment on a home, as well. When purchasing in today’s markets, a conventional mortgage down payment can get into six figures, depriving you of a good deal of liquid cash. A jumbo loan allows you to access financing while still maintaining your savings and maximizing your leverage.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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