City of Alton’s Homeownership Program

Eligible applicants can receive as much as $5,000 from the City of Alton’s Homeownership Program. This program is meant for low-income and very-low income buyers. Those in the very-low-income category can receive up to $5,000, and those in the low-income category can receive up to $3,000. This assistance is a loan with a five-year term that can be forgiven.

As funds are limited, they are offered first-come, first-serve to qualified individuals.

In order to qualify, applicants must have at least a year of clean credit history, finish an approved homebuyer counseling class, and secure a first mortgage.

Applicants have to be able to put down a minimum of $1,000 towards the purchase from their own assets.

As of 2022, applicants must meet the following annual household income limits:

  • 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

Eligible properties include those located in Alton city that are the primary residence of the applicant and do not exceed property purchase limits.

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