Are you a first-time homebuyer in Illinois? This comprehensive guide is your essential resource, offering specialized assistance programs and valuable information exclusively tailored for residents of the Prairie State. Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership more attainable. Navigate the Illinois real estate market with confidence and uncover the unique opportunities that await you.
State-Wide Programs
Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|
1st Home Illoinois | Up to $7,500 in down payment and closing costs assistance | First time homebuyers and veterans that can meet income, credit score, and purchase price requirements | Grant |
Assist Homeownership Program | Up to 7% of home loan that can be used for down payment and closing cost assistance. | Any homebuyer that can meet income requirements and buying within a participating community | Loan and partial Grant |
Assist Homeownership Program MCC | Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | Any homebuyer that can meet income requirements | Tax credit |
IHDA Access Deferred | Up to $7,500 in down payment and closing costs assistance | Any homebuyer that can meet income, credit score, and purchase price requirements | Deferred loan with a 0% interest rate |
IHDA Access Forgivable | Up to $6,000 in down payment and closing costs assistance | Any homebuyer that can meet income, credit score, and purchase price requirements | Forgivable second mortgage |
IHDA Access Repayable | Up to $10,000 in down payment and closing costs assistance | Any homebuyer that can meet income, credit score, and purchase price requirements | Loan with a 0% interest rate |
Regional Programs
County/Region | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Cook | Down Payment Assistance | Up to $10,000 in down payment assistance | Homebuyers that can meet income requirements and buying a home in Bellwood, Berwyn, Forest Park, Maywood, and Oak Park | Forgivable second mortgage |
Kane | First-Time Homebuyer Loan Program | Up to $10,000 in down payment assistance | First time homebuyers who live or work full time in Kane-Elgin Consortium Area for at least 1 year and meet income requirements | Deferred loan with a 0% interest rate |
Lake | Down Payment Assistance Program | Up to 5% of the purchase price of the home for down payment and closing costs assistance | First time homebuyers that can meet income requirements | Forgivable, deferred loan with a 0% interest rate |
Madison | HOMEbuyer Program | Up to $5,000 in down payment and closing costs assistance | Homebuyers that can meet income requirements | Forgivable loan |
St. Claire | Homebuyer Assistance Program | Down payment and closing costs assistance - amount not specified | Not specified | Not specified |
City Programs
City | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Alton | Homeownership Program | Up to $5,000 in down payment and closing cost assistance | Homebuyers that can meet income requirements | Forgivable loan |
Chicago | Community Connections Home Buyer Assistance Program | Up to $30,000 in down payment assistance | Homebuyers that are City of Chicago non-probationary, full-time, sworn first responders or specific Career Service employees and can also meet income requirements | Not specified |
Chicago | Neighborhood Lending Program Home Purchase and Purchase/Rehab | Down payment and closing costs assistance - amount not specified | Homebuyers that can meet income requirements | Forgivable loan |
DuPage | Homestead Program | Up to $17,999 in down payment and closing costs assistance | First time homebuyers that can meet income and credit score requirements | Second mortgage and partial grant |
Joliet | Down Payment Assistance Program | Up to 20% of the home sale price used towards down payment assistance | Homebuyers that can meet income requirements and buying within the city limits of Joliet | Forgivable, deferred loan with a 0% interest rate |
Kankakaee | Homebuyer Incentive Program | Up to $2,500 in down payment assistance | Homebuyers must meet income requirements | Grant |
Moline | Homebuyer Down Payment/Closing Cost Assistance Program | Up to $4,999 in down payment and closing costs assistance | Homebuyers that can meet income requirements | Second mortgage |
Normal | Down Payment Assistance Program | Up to $3,000 in down payment assistance | Homebuyer that can meet income requirements and buying a home in the town of Normal | Forgivable second mortgage |
Rockford | Homebuyer Assistance Program | Up to $14,999 in down payment assistance | Homebuyers that can meet income and savings requirements | Forgivable loan |
Romeoville | Homebuyer Assistance | Up to 7% of the home sale price for down payment and closing costs assistance | Homebuyers must meet income requirements | Grant |
Romeoville | Homebuyer Assistance MCC | Reduces a percentage of mortgage interest that you pay into federal taxes for the life of your loan | Homebuyers must meet income requirements | Tax credit |
Springfield | First Responder and Veteran Home Purchase and New Construction Grant Programs | Up to $20,000 in down payment assistance | Homebuyers that are also veterans and first responders | Grant |
Sycamore | First Time Home Buyer Program | Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | First time homebuyers that can meet income and purchase price requirements | Tax credit |
Urbana | Home Equity Loan Program (HELP) | Up to 4.25% of the purchase price of the home for down payment assistance | First time homebuyers who meet income requirements and buying a home in the city of Urbana | Not specified |
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