Hi Friend! I know you want to buy a house, but sometimes it feels like it's never going to happen, like climbing-Mount-Everest-not-going-to-happen. Well, if you're planning on buying a home in the Chicago, IL area, I have good news! You could be eligible to receive money toward your down payment.
Cook County Home Advantage Program is a down payment assistance (DPA) program for low- and moderate-income people living in the Chicago area. This program can offer up to 5% assistance toward down payment and closing costs. Let's look at some of the DPA program specifics.
- < 5% down payment and closing cost assistance
- FHA and Conventional 30-year fixed-rate loans
- Competitive loan rates
You'll need to meet some qualifications to qualify for the DPA program. Your income must be at or below $130,480, your credit score is at least 640, 50% or less of your monthly income is going towards your monthly debt, and you must complete a homebuyer education program. If you meet these qualifications, check out the Chicago down payment assistance program here.
Learn more about buying a home with Reazo's extensive home buyer's guide:
