Local guide
VA loans in the Chicago suburbs: Cook, DuPage, Lake, Will and Kane
Short answer
VA loan rules are the same everywhere in the Chicago area: no down payment with full entitlement, the same 2026 funding fee, and the same $832,750 conforming limit for partial-entitlement math. What changes outside Chicago is local: there is no City of Chicago transfer tax, the general homestead exemption is $8,000 in the collar counties instead of Cook’s $10,000, and each county has its own office for veteran exemptions.
What stays the same
- VA eligibility, the funding fee (2.15% first use with under 5% down, 0% if disabled), and no monthly mortgage insurance.
- 2026 limits: $832,750 conforming (used for partial entitlement) and $541,287 FHA for one unit across the Chicago metro counties.
- The Multi-Board Residential Real Estate Contract 8.0 and its five-business-day attorney review.
- The Illinois veteran exemptions, which are state law: $2,500, $5,000 or up to $250,000 off equalized assessed value depending on your disability rating.
What changes by county
| County | General homestead exemption | Where to file veteran exemptions |
|---|---|---|
| Suburban Cook | $10,000 off EAV | Cook County Assessor’s Office |
| DuPage | $8,000 off EAV | DuPage County Supervisor of Assessments |
| Lake | $8,000 off EAV | Lake County Assessment Office (Smartfile) |
| Will | $8,000 off EAV | Will County Supervisor of Assessments (Form PTAX-342) |
| Kane | $8,000 off EAV | Kane County Supervisor of Assessments |
| McHenry | $8,000 off EAV | McHenry County Supervisor of Assessments |
Counties next to Cook get up to $8,000; Cook gets up to $10,000. Your township assessor can also help you file.
Transfer taxes outside Chicago
The City of Chicago’s buyer transfer tax (0.75%) does not apply in the suburbs. Illinois and county transfer taxes are customarily paid by the seller. Some suburbs charge their own municipal transfer tax, so ask your attorney what applies in the village where you are buying.
Near a base?
If you are stationed at Naval Station Great Lakes, see our Great Lakes guide for 2026 BAH and Lake County details.
Suburban condos and townhomes
The VA approval rule for condos applies everywhere. Many suburban townhome communities are set up as condominiums and need to be on VA’s approved list. How to check VA condo approval.
Common questions
Are VA loan limits different in DuPage or Lake County?
No. The 2026 conforming limit of $832,750, used for partial entitlement, is the same across the Chicago metro counties. With full entitlement there is no VA limit.
Do suburban veterans get the same property tax exemptions as Chicago?
Yes. The veterans with disabilities and returning veterans exemptions are Illinois law. The general homestead exemption is $8,000 in the collar counties versus $10,000 in Cook.
Do I pay the Chicago transfer tax if I buy in the suburbs?
No. That tax applies only inside the City of Chicago. Some suburbs have their own transfer tax.
Sources
What will your VA funding fee be?
Enter a price and down payment to see the 2026 fee, or check whether you are exempt.
An independent guide. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs, and not a lender. General information, not legal, tax or financial advice.