Yousef's 1% back$5,200
Down payment grantIHDAccess Forgivable: 4% of the price up to $6,000, forgiven over 10 years$6,000
Possible help at closingup to $11,200
Other state options, used instead of the grant above:
- IHDAccess Home6% up to $15,000 for first time buyers, repaid when you sell or refinance$15,000
- IHDAccess Deferred5% up to $7,500, repaid when you sell or refinance$7,500
- IHDAccess Repayable10% up to $10,000, repaid monthly over 10 years with no interest$10,000
Some lenders, cities and counties also offer their own grants in eligible areas.
Grants and down payment programs come from the State of Illinois (IHDA), lenders and local governments, not from Yousef Khoury or Real People Realty. Whether you qualify, and how much, is decided by the program and your lender, based on things like income and purchase price limits, credit score (640 or higher for IHDA), first time buyer status, homebuyer education and loan approval. Amounts are estimates from published program terms and this home's list price. Programs can change or run out of funds, and some must be repaid if you sell or refinance early. This is not a loan offer or a commitment to lend.
