Offered by the Kane-Elgin HOME Consortium, this DPA program has as much as $10,000 to help eligible applicants with their down payment and closing costs. This is a second mortgage with 0% interest and deferred payments. This loan becomes due when the property is sold, transferred, or when the borrower stops using it as their primary residence.
Only first-time homebuyers who have not owned a house in the previous three years can apply.
As of 2020, applicants must fall with a total annual household income less than 80% of the area median income. These numbers are below:
- 1 person household: $43,050
- 2 person household: $49,200
- 3 person household: $55,350
- 4 person household: $61,500
- 5 person household: $66,450
- 6 person household: $71,350
- 7 person household: $76,300
- 8 person household: $81,200
Applicants must have been living in Kane county for a minimum of one year in order to be eligible.
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
- Normal Homebuyer’s Down Payment Assistance Program
- Romeoville Assist Program