Illinois Mortgage Guide
Complete Illinois mortgage guide with median home prices, property tax rates, denial rates, and down payment assistance programs for 2026.
In Illinois, the median home price is $282,902 and median household income is $80,306. The mortgage denial rate for home purchases is 9.41% according to 2025 HMDA data. 4 down payment assistance programs are available, including Access Forgivable (4% of purchase price up to $6,000 in forgivable DPA; forgiven monthly over 10 years.).
Illinois at a Glance
Median prices based on 2025 FHFA data. Income from 2024 Census ACS. Denial rates from 2025 HMDA data.
Mortgage Calculator for Illinois
Estimate your monthly payment with the interactive Illinois mortgage calculator. Includes property taxes, mortgage insurance, and down payment assistance programs.
Open Calculator →Mortgage Denial Rates in Illinois
In 2025 Home Mortgage Disclosure Act (HMDA) data for home purchases, Illinois logged 183,437 final-action applications. The mortgage denial rate was 9.41% and the originated share was 68.94%.
These figures show aggregated market outcomes, not an individual buyer's approval odds. Use these figures as context, not a prediction.
Down Payment Assistance Programs in Illinois
Access Forgivable
Illinois Housing Development Authority (IHDA)
4% of purchase price up to $6,000 in forgivable DPA; forgiven monthly over 10 years.
Access Deferred
IHDA
5% of purchase price up to $7,500 as an interest-free deferred loan; repayment due at sale, refinance, or payoff of first mortgage.
Access Repayable
IHDA
10% of purchase price up to $10,000 as an interest-free loan repaid monthly over 10 years.
1stHomeIllinois
IHDA
Up to $7,500 forgivable over 5 years for first-time buyers in specific counties; combinable with other IHDA programs.
Illinois County Calculators
These calculators use local tax and benefit data for each county.
Denial: 10.18% · Tax: 2.20% · 1 DPA programs
Denial: 6.11% · Tax: 2.10% · 1 DPA programs
Denial: 6.80% · Tax: 2.30% · 1 DPA programs
Denial: 7.14% · Tax: 2.30% · 1 DPA programs
Denial: 6.58% · Tax: 2.40% · 1 DPA programs
Denial: 8.41% · Tax: 2.40% · 1 DPA programs
Illinois City Calculators
These calculators include local taxes, closing costs, and assistance programs for each city.
Illinois Mortgage FAQ
What is the median home price in Illinois?
The median home price in Illinois is approximately $283,000 as of 2025, based on FHFA housing price index data.
Does Illinois have down payment assistance programs?
Yes. Illinois offers Access Forgivable (4% or $6,000), Access Deferred (5% or $7,500), and Access Repayable (10% or $10,000) through IHDA.
What is the mortgage denial rate in Illinois?
The statewide mortgage denial rate for home purchases in Illinois is 9.41% based on 2025 HMDA data.
How do Illinois property taxes compare to other states?
Illinois has some of the highest property taxes in the nation, averaging around 2.08%, significantly above the national average.