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. Home Purchase and Refinance Loans

FHA Loan Programs for 2024

The most recognized 3.5% down payment mortgage in the country. Affordable payments w/good credit.

Are You Watching Your Credit Score?

- Improving Your Credit Score Has Never Been More Important - is a privately owned website, is not a government agency, and does not make loans.
FHA Home Loans

Choose a Loan Type is a privately owned website, is not a government agency, and does not make loans.

City of Alton's Homeownership Program

Financial Assistance for Homebuyers in Illinois

In an effort to boost homeownership rates within the City of Alton, and to provide individuals with affordable homebuying avenues, the City of Alton’s Homeownership Program was established. The program’s aim is achieved by offering down payment and closing cost assistance to income-eligible homebuyers.

Available Assistance
The City of Alton’s Homeownership Program provides down payment and closing cost assistance in the form of a five-year, forgivable loan. The maximum loan amounts depend on the applicants’ income; $3,000 for Low-Income buyers and $5,000 for Very Low-Income qualified buyers. Funds are available on a first-come, first-serve basis. 

Eligibility Requirements
All applicants must meet certain program requirements to qualify for assistance funding. Eligible applicants must have an annual household income that falls below 80 percent of the area median income (limits shown below), and clean credit history for the last year. They must also be able to contribute $1,000 toward the transaction, which must be in the form of earnest money deposits, cash at closing, or a combination thereof. Applicants are also responsible for securing the first mortgage with a fixed interest rate within 1 percent of the market rate, as well as completing a HUD-approved homebuyer counseling course.

Property Guidelines
Purchased properties must be located within the City of Alton, serve as the borrower’s primary residence, and should not exceed the program’s purchase price limits.

Income Limits
Household income is defined as all income received by household members (18 years or older) who will be living in the home, even if they are not on the mortgage.

1 person household - $37,600
2 person household - $43,000
3 person household - $48,350
4 person household - $53,700
5 person household - $58,000
6 person household - $62,300
7 person household - $66,600
8 person household - $70,900

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

Down payment assistance programs and/or grants were researched by the team at 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.'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.

Do you know what's on your credit report?

Learn what your score means.