The Assistance Program (or Assist Program) is offered by Romeoville and other local communities. Three percent of a borrower’s loan amount is offered as a grant to help cover the costs of closing and the down payment.
In order to qualify, an individual must be a first-time homebuyer and fall within certain income limits. This program cannot be used for refinancing.
Only primary residences are allowed for the Assist Program. The property must be a new or existing, owner-occupied single-family home, townhome or condominium. The purchase price limits for 2020 are $344,819 for non-targeted areas and $421,446 for targeted areas.
The income limits for the household for 2020 are:
- 1 or 2 person household in a Non-Targeted Area: $79,432
- 3 or more person household in a Non-Targeted Area: $91,347
- 1 or 2 person household in a Targeted Area: $92,280
- 3 or more person household in a Targeted Area: $107,660
Other programs in Illinois:
- Down Payment Plus Programs
- HOMEbuyer Program
- Chicago Home Buyer Assistance Program
- City of Alton’s Homeownership Program
- Joliet Down Payment Assistance Program
- Kane County First-Time Homebuyer Program
- Normal Homebuyer’s Down Payment Assistance Program