Closing costs
Closing costs in Illinois
In Illinois, a title or escrow company handles closing (no attorney required), and Illinois levies a transfer/deed tax of about 0.15%, customarily negotiable-paid. state 0.1% + county 0.05%; some municipalities add more (stacks); payer negotiable. Here's roughly what you'll pay and what each line is.
How much are closing costs in Illinois?
Estimated buyer closing costs in Illinois (on top of your down payment), for a single-family home with 10% down and good credit:
| Home price | Estimated closing costs |
|---|---|
| $300,000 | $6,197–$8,947 |
| $400,000 | $7,845–$11,145 |
| $500,000 | $9,494–$13,344 |
Illustrative estimates — a single-family home, conventional loan, 10% down, good credit. Your real figures come from your Loan Estimate and Closing Disclosure.
What's in your closing costs
- Lender fees — loan origination (~0.5–1% of the loan), plus the appraisal.
- Title insurance — a lender's policy (and usually an owner's policy) protecting against title defects.
- Prepaids & escrow — a year of homeowners insurance plus a couple months of property-tax escrow set aside up front.
- Recording & settlement — county recording fees plus the settlement agent (or attorney) who runs the closing.
Who closes, and transfer taxes, in Illinois
Illinois is a title/escrow state — a title or escrow company handles closing, so there's no attorney fee.
Illinois levies a transfer/deed tax of about 0.15%, customarily negotiable-paid. state 0.1% + county 0.05%; some municipalities add more (stacks); payer negotiable
The FHA loan limit in Illinois is about $541,287.
Plan for the full cash to close
Closing costs are only part of the cash you'll need. The down payment is the rest. Map your full savings target:
See your real numbers for Illinois
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