See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 15, 2026
Homebuyer Programs in Buffalo Grove, IL (2026)
Buffalo Grove is a northwest Chicago suburb straddling Lake and Cook counties, with a median home price of approximately $403,000. The Village of Buffalo Grove does not operate a local down payment assistance program, but Lake County offers the Community Partners for Affordable Housing (CPAH) Down Payment Assistance Program for eligible buyers in the county. First-time buyers can also combine Illinois state programs, including IHDAccess Home with up to $15,000 and IHDA Access Forgivable with up to $6,000, with federal FHA and VA loans. Habitat for Humanity Lake County offers affordable homeownership for qualifying families, and the Lake County Housing Authority provides HUD-approved homebuyer counseling. Stacking Lake County DPA with IHDA state programs can meaningfully reduce the cash needed to buy in Buffalo Grove.
County Programs in Lake County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Lake County Down Payment Assistance Program (CPAH) | Deferred Loan | Up to $13,999 | Yes | View → |
| Lake County Housing Authority HUD Homebuyer Counseling | Grant | Free HUD-approved homebuyer education and pre-purchase counseling | No | View → |
- Type:
- Deferred Loan
- Amount:
- Up to $13,999
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Free HUD-approved homebuyer education and pre-purchase counseling
- First-time only:
- No
State Programs in Illinois
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHLBank Chicago Downpayment Plus (DPP) | Grant | Up to ,000 | No | View → |
| IHDA Access Deferred | Deferred Loan | 5% of purchase price up to ,500 | Yes | View → |
| IHDA Access Forgivable | Forgivable Loan | 4% of purchase price up to ,000 | Yes | View → |
| IHDA Access Repayable | Zero-Interest Loan | 10% of purchase price up to ,000 | Yes | View → |
| IHDA Mortgage Credit Certificate (MCC) | Tax Credit | Federal tax credit: 25% of annual mortgage interest (capped at ,000/year) | Yes | View → |
| IHDA SmartBuy | Forgivable Loan | ,000 DPA plus up to ,000 toward student loan payoff | Yes | View → |
| IHDAccess Home | Deferred Loan | Up to ,000 (6% of purchase price) | Yes | View → |
| Opening Doors / Abriendo Puertas | Forgivable Loan | Up to ,000 | Yes | View → |
- Type:
- Grant
- Amount:
- Up to ,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- 5% of purchase price up to ,500
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- 4% of purchase price up to ,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- 10% of purchase price up to ,000
- First-time only:
- Yes
- Type:
- Tax Credit
- Amount:
- Federal tax credit: 25% of annual mortgage interest (capped at ,000/year)
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- ,000 DPA plus up to ,000 toward student loan payoff
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to ,000 (6% of purchase price)
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to ,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Habitat for Humanity Lake County Homeownership Program | Zero-Interest Loan | Affordable home with 0% interest mortgage (no down payment required) | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home with 0% interest mortgage (no down payment required)
- First-time only:
- No
How to Apply
Check your eligibility. IHDA programs have income limits. Most IHDA products require first-time buyer status (no homeownership in the past three years). The Lake County DPA (CPAH) has its own income and geographic requirements.
Complete HUD-approved homebuyer education. The Lake County Housing Authority and CPAH both provide approved counseling.
Apply for the Lake County Down Payment Assistance Program through Community Partners for Affordable Housing (CPAH) for locally-funded assistance.
Get pre-approved with an IHDA-participating lender for state assistance.
Find a home within IHDA purchase price limits. With Buffalo Grove's median near $403,000, some homes may exceed IHDA limits; confirm with your lender at pre-approval.
Submit your applications through CPAH and your IHDA lender. Closing typically occurs 30-45 days after contract.