Closing Cost Calculator for Illinois

Closing Costs in Illinois

Buyers in Illinois typically pay around $3,900 in total closing costs. Illinois charges a transfer tax of $0.50/$500 of value statewide, plus a City of Chicago transfer tax of $5.25/$500 which is one of the highest city-level rates nationally.

What's Included in Illinois Closing Costs?

• Transfer & recording taxes: Illinois charges a transfer tax of $0.50/$500 of value statewide, plus a City of Chicago transfer tax of $5.25/$500 which is one of the highest city-level rates nationally.
• Lender fees: Origination, underwriting, and processing fees — typically 0.5–1% of the loan amount regardless of state.
• Title insurance: Owner's and lender's policies, required in most Illinois transactions.
• Prepaid items: First year homeowner's insurance premium, prepaid property tax escrow, and prepaid interest.
• Escrow/attorney fees: Illinois typically uses title companies or escrow agents to close real estate transactions.

Home Values & Loan Context

With a median home value of $250,000 in Illinois, a 10% down payment buyer would borrow around $225,000. The conforming loan limit is $726,200 — Most Illinois counties are at the standard conforming limit. No counties currently qualify for high-cost treatment.

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