Grant Programs for First Time Buyers of Owner Occupied Property!

First Time Buyer does not necessarily mean this is your first home purchase. If the applicant and or his spouce have not owned a home during the past three years prior to purchasing a home with the American Dream or Downpayment Plus programs you may be eligable.

American Dream Downpayment Initiative

Is for Cook County only! Loan features 6% of the purchase price or a maximum of $10,000. Zero percent Interest. Property must be single family residence (single family home, condo or town home). Loan is due on sale if owner moves out before the five year period expires. Home buyers must attend a HUD approved housing counseling course. Maximum Household Income Limits apply. Insert your gross annual income and number of persons living in the home below.

Downpayment Plus Program

Is for all counties in the chicago area. Loan features a flat grant of $5000 and has similar specs and requirements as the American Dream program above. These programs are avail for conventional and fha loan's only and are fico score driven for approval.

The Nehemiah Program

This program is not income based or area based. Receive gift funds up to 6% of the contract sales price. No repayment of the gift funds. First time and repeat home purchases. New or resale homes are eligible. No geographic restrictions. http://www.getdownpayment.com

Classes are held at:

Family Service & Consumer Credit Counseling

22 South Spring Street Elgin IL 60120

847-695-3680 ask for Pre-Purchase Counceling

The class run's 1.5 hours and are given monday - friday 3pm to 7pm and sat 8:30am to 3pm These are one on one sessions. Pre-Approval is suggested see our free pre approval program for information on getting pre approved for your loan before starting to look for a home. Make sure you get your certificate upon completing the course.

To see if you will qualify for any of these programs please fill out the form below and hit submit when completed. I will call you with in 24 hours to pre-qualify you for the programs and go over any paper work needed.