Cook County, IL Conforming Loan Limit — 2026
2026 FHFA conforming loan limit for Cook County.
2026 Conforming Limit: $806,500
Source: FHFA. Data as of 2025-01-15.
2026 Loan Limits — Cook County, IL
| Limit Type | 2026 Limit | Note |
|---|---|---|
| FHA Loan Limit (1-unit) | $524,225 | Max loan for FHA-insured mortgage |
| Conforming Loan Limit (1-unit) | $806,500 | Fannie Mae / Freddie Mac eligible |
Source: HUD / FHFA. Data as of 2025-01-15.
Local Home Values & Affordability
A 20% down payment on a median Cook County home requires $62,000 in cash — or $10,850 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.
Cook County's median home value of $310,000 is close to the national median of $310,000, putting most buyers in the conforming loan range with conventional or FHA options readily available.
Property Tax in This Market
Cook County's effective property tax rate of 2.20% is 100% above the 1.10% national average across the markets we track — placing it among the top 5 highest-tax counties in our dataset.
Based on the 2.20% effective rate and a median home value of $310,000, a typical homeowner in Cook County pays approximately $6,820 in annual property taxes — or $568 per month added to their mortgage payment.
Sources: Tax Foundation 2025
Homeowners Insurance Costs
Homeowners insurance in Cook County runs approximately $1,650/year ($138/month), in line with the national average of $1,600.
Premium quotes in Cook County typically range from $1,100 to $2,400 per year depending on home age, construction type, coverage limits, and your insurer. Always get multiple quotes.
Sources: NAIC 2024
Loan Limits & Financing Options
A buyer purchasing the median Cook County home ($310,000) with FHA's minimum 3.5% down would borrow $299,150 — well within the $541,287 baseline FHA limit for this county. FHA financing is a viable option for most buyers here.
With 20% down on a median-priced home, the loan amount of $248,000 stays $584,750 below the $832,750 conforming limit — giving buyers access to conventional Fannie/Freddie pricing without jumbo underwriting.
Sources: HUD ML 2025-23, FHFA 2026
Advertisement