Ready to Use Down Payment Assistance? Here’s How to Get Started

You’ve read about the benefits, busted the myths, and learned about the programs—now it’s time to take action! If you’re thinking about buying a home in Illinois or Northwest Indiana, and want to use down payment assistance, here’s a step-by-step guide to get you moving in the right direction.

Start by reviewing the basic requirements for most down payment assistance programs:
Minimum credit score (usually 640+)
Stable income and job history
First-time buyer (in some cases—not always required)
Meet local income limits

 Tip: Visit the IHDA (Illinois Housing Development Authority) or IHCDA (Indiana Housing & Community Development Authority) websites to view current program guidelines and income limits for your area.

Not all mortgage lenders are approved to offer down payment assistance programs.
Look for a local, experienced lender who is:

 Pro Tip: Our team can refer you to trusted lenders who specialize in these programs.

Most programs require a first-time homebuyer education course.

You’ll need:
Pay stubs, W2s, tax returns
Bank statements
Photo ID
Proof of residency (depending on the program)

Having these ready speeds up the approval process!

Once you’re pre-approved with down payment assistance factored in, you’re ready to shop for homes within your budget. Our team will help you craft strong offers that include the necessary details for grant approval.

Down payment assistance can make your path to homeownership faster and more affordable, but the key is starting with the right team and information. If you’re thinking about buying this year, don’t wait—get the process started today!