Illinois mortgage guides
Plain-English articles on Illinois home financing, IHDA programs, the transfer tax, and the real numbers that move a deal. Written by Mike Certo, NMLS #260555.
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Closing costs ·
The Chicago transfer tax, explained: who pays what, and the mansion tax that never happened.
Chicago's transfer tax is 1.05% and splits between buyer and seller. Here is who pays which portion, why the Bring Chicago Home mansion tax failed, and the low statewide stamps.
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More Illinois guides are on the way. In the meantime, the first-time buyer guide and the down payment assistance guide cover the essentials.