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

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Down Payment Plus Programs

Financial Assistance for Homebuyers in Illinois

With their Downpayment Plus Programs, the Federal Home Loan Bank (FHLB) of Chicago offers its members easy-to-access down payment and closing cost assistance programs for very low-, low- and moderate-income homebuyers in order to help their customers afford the upfront costs that come with buying a home.

Available Assistance:
The Downpayment Plus (DPP) is a matching program that works on a 3:1 ratio of the homebuyer’s net contribution, capped at $6,000 25 percent of the first mortgage. So if the homebuyer contributes the minimum required contribution of $1,000, the maximum DPP grant amount will only be $3,000, but if the applicant’s investment is $2,000 or more, they will be eligible for the maximum $6,000. The assistance provided is in the form of a forgivable grant paid on behalf of the borrower, which may be used for down payment and closing cost assistance, homebuyer counseling costs (up to $700), and/or eligible rehabilitation costs associated with the purchase of a home.

The Downpayment Plus Advantage Program works similarly but is designed to help borrowers participating in mortgage programs with non-profit organizations. All non-profits must be registered as partners with FHLB Chicago to gain access to subsidies provided in the DPP Advantage program. DPP Advantage is exempt from the 3:1 matching ratio, but has the maximum grant amount of $6,000 or 25 percent of the first mortgage.

*Applicants receiving assistance funds from either program are required to repay a pro rata share of the grant if they choose to sell or refinance the property before the end of the 5-year retention period.

Eligibility Requirements:
To be considered for the Downpayment Plus Programs, all applicants must meet certain requirements. They must secure a first mortgage with a participating member and provide an executed purchase contract. All applicants must have an annual household income at or below 80 percent of the area median income, adjusted for household size. They must disclose current income sources and pending changes in income or employment status. In addition to the minimum $1,000-contribution, applicants are also required to complete a homebuyer counseling program prior to receiving grant funds.

Property Guidelines:
All homes being purchased must serve as the applicants’ primary residences. Eligible property types include attached or detached one- or two-unit homes, condominiums, and manufactured homes. Any new constructions must be completed before closing. 

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.

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