Loan Limits & More

One of the people most involved in the transaction is the Realtor who is subsequently an integral part of the entire 203k loan process. A well-executed contract with disclosures is crucial at the beginning of the loan process.

Contract Execution

There are a few differences when filling out a contract for a buyer utilizing the 203k product.  If you have any questions while filling out the contract you can always call me for advice.

FHA Loan Limits

FHA loan limits for the Chicago Metro Area:

Property Type Max Loan Amount
1-Unit $365,700
2-Unit $468,150
3-Unit $565,900
4-Unit $703,250

Chicago Metro Area:  Cook, Dupage, Dekalb, Grundy, Kane, Kendall, Lake, McHenry and Will counties.