Illinois Mortgage Calculator
Calculate your monthly mortgage payment for homes in Illinois, factoring in local property taxes, home insurance, and HOA fees.
Why calculating mortgage in Illinois is different
Illinois has a flat income tax and high local property taxes.
State Income Tax
4.95%
Base Sales Tax
6.25%
State Min Wage
$14.00 / hr
Abbreviation
IL
Illinois Mortgage Interactive Tool
This calculator uses the latest 2026 data for Illinois, including the minimum wage of $14.00 and the specific state income tax rates (4.95%).
Frequently Asked Questions about Illinois Mortgage
How much are typical closing costs in Illinois?
Closing costs in Illinois typically range from 2% to 5% of the total loan amount. This includes state-specific mortgage recording taxes and title fees.
Should I buy a home in Illinois?
Buying a home in Illinois requires factoring in the local property tax rates and home insurance costs, which can vary drastically between different counties.