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Is there any 1st time home owner program that government provide in IL?

  • July 30 2014 - Westmont
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Answers (4)

The welcome home illinois program will assist up to $7500 in downpayment and closing cost assistance.

I have 1 client who used it just last month and have a few others who are using this as we are under contract.

It's a great program but am hearing different things from a few other lenders that the funds are running out soon and some say they are not.

There are also IHDA programs which are similar but are less than $7500.
  • August 09 2014
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Absolutely!
  • July 30 2014
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In addition to IHDA programs such as Welcome Home Illinois, IHDA Smart Move Trio, IHDA Welcome Home Heroes, and IHDA Building Blocks there are other down payment assistance programs available depending upon which area you are looking for. One is the Inclusive Communities Fund which provides up to $15K for 1st time buyers looking in south suburbs.  Another is the Illinois Assist program which is a 3% grant on loan amount.  There's also the Neighborhood Stabilization Program (NSP) which provides up to $50K for NSP eligible listings.  The good news is that you can layer these programs to maximize the amount of funds you receive (except you can't layer more than 1 IHDA program). I work directly with a loan officer who specializes in these programs. 
  • July 30 2014
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Please see this link.
  • July 30 2014
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