This post has been updated for 2017 – Here are the Current FHA loan limits for the Chicago Area This is good news for home buyers who are buying larger homes or smaller apartment buildings (2 to 4 unit buildings), since it allows these buyers to purchase with just a low 3.5% down payment, and it the more lenient qualifying standards FHA offers. It is also good for the housing market in general because more qualified buyers means a stronger and more robust market. These are the max FHA loan limits here in the 6 county Chicago metropolitan area (Cook, Dupage, Lake, Kane, Will and Grundy Counties) Here is the table for the Chicago Metro Area: 1 unit $365,700 2 unit $468,150 3 Unit $565,900 4 Unit $703,250 The FHA max mortgage is determined on a county wide basis based on the areas median home values. In higher priced areas (mostly California) the…

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