Home Equity in Illinois: How Much Can You Cash Out? (2026)
With Illinois's median value near $270,000 and a typical $149,000 balance, homeowners can access about $80,500 at 85% combined LTV — through a HELOC, a fixed home equity loan, or a cash-out refinance.
Most Illinois owners who bought years ago hold significant equity. A HELOC or home equity loan lets you borrow against it without touching a low first-mortgage rate.
Accessible equity by Illinois county
| County | Est. Value | Equity at 85% CLTV |
|---|---|---|
| Cook County | $330,000 | $98,500 |
| DuPage County | $400,000 | $120,000 |
| Lake County | $300,000 | $90,000 |
| Will County | $330,000 | $98,500 |
| Kane County | $330,000 | $98,500 |
| McHenry County | $270,000 | $80,500 |
| Winnebago County | $270,000 | $80,500 |
| Madison County | $270,000 | $80,500 |
| St. Clair County | $270,000 | $80,500 |
| Champaign County | $270,000 | $80,500 |
| Sangamon County | $270,000 | $80,500 |
| Peoria County | $270,000 | $80,500 |
| McLean County | $270,000 | $80,500 |
| Rock Island County | $270,000 | $80,500 |
| Tazewell County | $270,000 | $80,500 |
| Kendall County | $270,000 | $80,500 |
| LaSalle County | $270,000 | $80,500 |
| Macon County | $270,000 | $80,500 |
| DeKalb County | $270,000 | $80,500 |
| Vermilion County | $270,000 | $80,500 |
| Williamson County | $270,000 | $80,500 |
| Kankakee County | $270,000 | $80,500 |
| Adams County | $270,000 | $80,500 |
| Boone County | $270,000 | $80,500 |
| Whiteside County | $270,000 | $80,500 |
| Coles County | $270,000 | $80,500 |
| Ogle County | $270,000 | $80,500 |
| Knox County | $270,000 | $80,500 |
| Henry County | $270,000 | $80,500 |
| Macoupin County | $270,000 | $80,500 |
How to tap equity in Illinois
Start with your numbers: home value minus what you owe, capped at 85% of value. Then pick the tool — a revolving HELOC for flexible access, a fixed home equity loan for a lump sum, or a cash-out refinance if a new first-mortgage rate beats your current one. Compare two or three lenders, since margins and fees vary.
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Frequently Asked Questions
- How much home equity can I tap in Illinois?
- On a $270,000 home with a $149,000 balance, about $80,500 at 85% CLTV. Your exact limit depends on the lender, your credit, and the appraisal.
- Is a HELOC or cash-out better in Illinois?
- If your first mortgage rate is low, a HELOC or home equity loan is usually cheaper because it keeps that rate. A cash-out refinance only wins when today's rate beats your current one.