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One of the biggest hurdles for homebuyers is saving for a down payment. But did you know that thousands of dollars in assistance may be available to help you buy your dream home? Illinois and Northwest Indiana offer multiple down payment assistance programs that can make homeownership more affordable.
Programs in Illinois & Northwest Indiana
🔹 Illinois Housing Development Authority (IHDA) Programs
- IHDAccess Forgivable – Up to $6,000 forgiven over 10 years.
- IHDAccess Deferred – Up to $7,500, repayable when you sell or refinance.
- IHDAccess Repayable – Up to $10,000, paid over 10 years with no interest.
🔹 Northwest Indiana Programs
- Indiana Housing & Community Development Authority (IHCDA) First Place Program – Up to 6% of purchase price for first-time homebuyers.
- Next Home Program – This program is available for repeat buyers who meet income and credit qualifications.
How to Qualify
- Income limits apply but vary by county.
- Minimum credit score requirements (usually 640+).
- Must complete homebuyer education courses.
These programs can reduce the upfront cost of homeownership and make buying a home more accessible than you think.
📞 Thinking about buying a home? Contact our team to connect with trusted lenders who can help you find the best down payment assistance options!
