HEI Facts.com

StateLast checked September 23, 2026

Home equity investments in Illinois

1 of the six major home equity investment providers operate in Illinois. Illinois has an HEI-specific law or rule in effect.

Providers operating in Illinois

1 of the six major providers say they operate in Illinois. Availability can vary by county.

  • Pointup to 30-year term · cost cap 18% a year · about 14.3% a year in our standard example

Provider lists come from each provider's own availability page, retrieved September 23, 2026. All states.

Laws, rules, and reports

IllinoisRegulationIn effectEffective June 1, 2026

Illinois adopts rules for shared appreciation agreements

The Illinois Department of Financial and Professional Regulation adopted rules implementing the state's shared appreciation agreement law, effective June 1, 2026, covering counseling, disclosures, and recordkeeping.

We could not access the rule text in the Illinois Register directly. The details here are as reported by the law firms linked below.


Sources: Mayer Brown: Illinois adopts regulations secondary · Weiner Brodsky Kider: IDFPR adopts rules secondary

IllinoisLawIn effectEnacted 2024

Illinois treats shared appreciation agreements as mortgage loans (Public Act 103-1015)

Amends the Residential Mortgage License Act so that a "mortgage loan" includes one in which funds are advanced through a shared appreciation agreement.

  • Requires counseling before a borrower takes any legally binding action on a shared appreciation agreement, and the borrower may not waive it.
  • Lets the state's financial regulator adopt rules for these agreements, which it did in 2026.

Sources: Illinois General Assembly: SB 3551 as enacted

Enforcement and court cases

We found no enforcement action or court case involving home equity investments in Illinois as of September 23, 2026.

Bills

We found no pending HEI bill in Illinois as of September 23, 2026.

Federal activity

2 federal items pending that would apply in every state: Home Equity Lending Integrity Act (S. 4803), Shared Home Appreciation for Residential Equity Act (H.R. 8116).

Before you sign in Illinois

  1. Check the company's license at NMLS Consumer Access.
  2. Expect required homeowner counseling before you sign. Illinois's rules call for it.
  3. Ask for the settlement amount at 0%, 4%, and 8% yearly appreciation, and for when you might settle.
  4. Convert each offer to an effective yearly cost on HEI Calculator and compare it with a HELOC or home equity loan (HEI vs HELOC).

Reference information, not legal advice. Facts last checked September 23, 2026. Know of something we're missing in Illinois? Tell us.

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