The down payment assistance programs that are listed here are a sample of what is available for homebuyers in Illinois. This can be your starting point as you search for the right program for your family.

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HOMEbuyer Program

Financial Assistance for Homebuyers in Illinois

Madison County in Illinois aims to increase homeownership in the area with the HOMEbuyer Program. This provides funds for the down payment and closing costs to eligible individuals who can afford monthly mortgage payments, but not the hefty, upfront costs. One of the largest obstacles in homeownership is having to make down payments, and the HOMEbuyer Program is meant to help get people out of the renters' trap.

Eligibility Requirements
In order to be eligible for assistance via the HOMEbuyer Program, applicants fall within the low- or moderate-income bracket (shown below). They must also be first-time homebuyers purchasing single-family housing; either existing or newly-constructed, one to two unit family housing, and condominium units.

Income Limits
Households that qualify for HOMEbuyer Program assistance must have total household incomes that do not exceed 80% of area median income.

1 person household: $41,750
2 person household: $47,700
3 person household:  $53,650
4 person household: $59,650
5 person household: $64,400
6 person household: $69,150

Note: these figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.

Depending on the household income, Madison County’s HOMEbuyer Program offers financial assistance of up to $5,000 to fund the down payment and closing costs on applicants’ new homes. Eligible closing costs may include appraisal fees, credit report fees, and inspection fees, homebuyer counseling fees, settlement and title fees, underwriting and processing fees.

HOMEbuyer Program applications must be submitted via a participating, Madison County lender.

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Illinois

1stHomeIllinois is designed to help first-time homebuyers and veterans purchase. In addition to a 30-year fixed rate mortgage, applicants can receive a $7,500 down payment assistance grant. 

Alton’s Homeownership Program was established to boost homeownership in the city by offering down payment and closing cost assistance to income-eligible homebuyers.

Chicago's City Council established the Community Connections Home Buyer Assistance Program, which is designed to help its residents purchase their home by providing financial assistance for the down payment and closing costs.

With their Downpayment Plus Programsthe Federal Home Loan Bank of Chicago offers its members easy-to-access down payment and closing cost assistance programs for low- and moderate-income homebuyers.

Madison County in Illinois aims to increase home ownership in the area with the HOMEbuyer Program. This provides funds for down payment and closing costs to eligible individuals who can afford monthly mortgage payments, but not the hefty, upfront costs.

The City of Joliet, Illinois established the Joliet Down Payment Assistance Program, which is designed to help low-income applicants with down payment assistance to purchase their home.

In an effort to help individuals achieve their dreams of homeownership, the Kane-Elgin HOME Consortium has funded the First-Time Homebuyer Program which comes with the Kane County Down Payment Assistance Program.

The Town of Normal, Illinois offers the Homebuyer’s Down Payment Assistance Program, which is funded by the Community Development Block Grant program and covers a portion of the down payment for eligible applicants.

The Village of Romeoville offers residents the Homebuyer Assistance Program, also known as the Assist Program. It provides potential homebuyers with the Mortgage Credit Certificate (MCC) program, as well as funds to pay all or most of their closing costs and the down payment.

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