# 815 ILCS 137/15: Section 15

> Illinois · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S15

## Section

- **Citation:** 815 ILCS 137/15
- **Heading:** Section 15
- **Jurisdiction:** Illinois
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Code / Chapter 815 / Act 137 / Section 15

## Text

(815 ILCS 137/15) Sec. 15. Ability to repay. A creditor or broker shall not transfer, deal in, offer, or make a high risk home loan if the creditor or broker does not believe at the time the loan is consummated that the borrower will be able to make the scheduled payments to repay the obligation based upon a consideration of his or her current and expected income, current obligations, employment status, and other financial resources (other than the borrower's equity in the dwelling that secures repayment of the loan). A borrower shall be presumed to be able to repay the loan if, at the time the loan is consummated, or at the time of the first rate adjustment, in the case of a lower introductory interest rate, the borrower's scheduled monthly payments on the loan (including principal, interest, taxes, insurance, and assessments), combined with the scheduled payments for all other disclosed debts, do not exceed 50% of the borrower's monthly gross income. (Source: P.A. 93-561, eff. 1-1-04.)

## Nearby sections

- [815 ILCS 137/1 Section 1](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S1.md)
- [815 ILCS 137/5 Section 5](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S5.md)
- [815 ILCS 137/10 Section 10](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S10.md)
- [815 ILCS 137/15 Section 15](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S15.md)
- [815 ILCS 137/20 Section 20](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S20.md)
- [815 ILCS 137/25 Section 25](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S25.md)
- [815 ILCS 137/30 Section 30](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S30.md)
- [815 ILCS 137/35 Section 35](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S35.md)
- [815 ILCS 137/35.5 Section 35.5](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S35.5.md)
- [815 ILCS 137/40 Section 40](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S40.md)
- [815 ILCS 137/45 Section 45](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S45.md)
- [815 ILCS 137/55 Section 55](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S55.md)
- [815 ILCS 137/60 Section 60](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S60.md)
- [815 ILCS 137/65 Section 65](https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S65.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_C815_A137_S15. Check the current official text before relying on it. Not legal advice.