2020 Lake County Government Home Loan Limits
FHA Loan Limit $368,000 (Single family residence) / $471,100 (Duplex) / $569,450 (Triplex) / $707,700 (Fourplex)
USDA Loan Limit $294,400
VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 888-573-4496 for details).
Lake County exists in the very northwestern part of Indiana. It is situated at the corner of the state that shares borders with Illinois and Michigan. A stretch of southern shoreline of Lake Michigan is also connected to the northern boundary of the county. The population of the county is nearly 500,000 based on data from the latest census. It is the second most populous county in the state.
Lake County has a total area of 626 square miles. The county seat is Crown Point, though the largest city is divided between Gary and Hammond. Gary is the largest in terms of land size while Hammond is the largest in terms of population. The entire Lake County area is generally grouped in with the Chicago metropolitan area which is just to the west and northwest of the county boundaries.
The area is an interesting mixture of urban, suburban and rural development. The northern and western sections of the county are far more urban and suburban, though heading south toward interior Indiana will yield more farmland.
The land of present day Lake County was originally inhabited by Potawatomi tribes. Non-native settlers began to inhabit the area in the 1830s. The county was formed in 1837 after the land was separated from LaPorte County and Porter County. The population of the county boomed in the 1850s and reached a peak in the 1970s. Lake County has since adjusted from representing a more industrial contributor to the local economy to retail and technological developments.
Lake County is home to many people that venture to East Chicago each day for work. There are many residents that have sought living in a more suburban corridor while taking the South Shore Express Line each day to work. It was recently estimated that well over 44,000 people in Lake County commute each day to Chicago.
The county offers two regional airports: Gary/Chicago International Airport and Griffith-Merrillville Airport. Crown Point, Indiana is a little over an hour drive to O’Hare International Airport in Chicago, depending on traffic. Several prominent highways in the area connect locals to other parts of Indiana, Illinois and Michigan.
Hammond is the largest city in Lake County with a population of 81,000. It replaced Gary as the largest city in the county following reports from the 2010 census. There are a number of railroads and expressways that traverse through Hammond as it services many other cities in the area. Hammond is also home to Wolf Lake and the Horseshoe Hammond Riverboat Casino. The northwest campus of Purdue University is also located in Hammond.
Gary is further east of Chicago compared to Hammond yet also sends many commuters to the city for work. Gary is adjacent to the Indiana Dunes National Park and the southern shores of Lake Michigan. Therefore, some tourism also helps spark the local economy. The Jackson 5 music group originated in Gary. The county has a reputation as a blue collar city due to its abundance of steel mills. Gary has a population of 80,300 which makes it the ninth-largest city in Indiana. However, the population has actually been in decline since the 1960s as it deals with some of the problems of fellow “Rust Belt” cities.
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Lake County Property Search
Cedar Lake, Crown Point, Dyer, East Chicago, Griffith, Hammond, Munster, Highland, Hobart, Leroy, Lowell, Saint John, Schererville, Schneider, Shelby, Whiting, Gary,
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Lake County Condo Search
Condo Name (ID): BROOKSTONE ESTATES CONDOMINIUM (A006954 001)
Address: 2007 W 75TH PLACE MERRILLVILLE, IN 46410
Last Update: Unavailable
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Contact FedHome Loan Centers at 877-432-5626 for more information and to confirm eligibility.