See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated April 15, 2026

Homebuyer Programs in Chicago, IL (2026)

Population: 2,707,648 | Median home price: $360,000 | Est. closing costs: ,000 - ,000

Chicago is the largest city in Illinois and one of the most program-rich homebuying markets in the Midwest, with a median home price around 0,000 as of 2026. First-time buyers in Chicago can combine state and local assistance in meaningful ways: Illinois Housing Development Authority (IHDA) launched IHDAccess Home in March 2026, offering up to ,000 in 0% interest deferred down payment and closing cost assistance, and also runs Access Forgivable (up to ,000 forgiven over 10 years), Access Deferred (up to ,500), Access Repayable (up to ,000), and the Opening Doors program (,000 forgivable after 5 years). At the city level, the Chicago Department of Housing offers the Building Neighborhoods and Affordable Homes (BNAH) program with up to 0,000 in purchase price assistance in five targeted neighborhoods, plus the TaxSmart Mortgage Credit Certificate giving a 25% federal tax credit on mortgage interest. Nonprofits like Here to Stay Community Land Trust, the Chicago Housing Trust, and Habitat for Humanity Chicago offer permanently affordable homeownership pathways, and FHLBank Chicago's Downpayment Plus program provides up to ,000 in forgivable grants through participating lenders. Stacking an IHDA DPA with a TaxSmart MCC and a lender-level DPP grant can produce significant savings for an eligible Chicago buyer.

City Programs in Chicago

Program Name	Type	Amount	First-Time Only	Details
Building Neighborhoods and Affordable Homes (BNAH)	Forgivable Loan	Up to 0,000 in purchase price assistance	No	View →
CHA Choose to Own (CTO) Homeownership Program	Silent Second Mortgage	Monthly Housing Assistance Payment (HAP) toward mortgage for up to 15 years (30 years for elderly/disabled)	Yes	View →
Chicago Housing Trust	Silent Second Mortgage	Below-market home prices; preserves long-term affordability	Yes	View →
TaxSmart MCC Series 2026	Tax Credit	Federal tax credit: 25% of annual mortgage interest (50% for improvement/rehab loans)	Yes	View →

Building Neighborhoods and Affordable Homes (BNAH)

Type:: Forgivable Loan
Amount:: Up to 0,000 in purchase price assistance
First-time only:: No

CHA Choose to Own (CTO) Homeownership Program

Type:: Silent Second Mortgage
Amount:: Monthly Housing Assistance Payment (HAP) toward mortgage for up to 15 years (30 years for elderly/disabled)
First-time only:: Yes

Chicago Housing Trust

Type:: Silent Second Mortgage
Amount:: Below-market home prices; preserves long-term affordability
First-time only:: Yes

TaxSmart MCC Series 2026

Type:: Tax Credit
Amount:: Federal tax credit: 25% of annual mortgage interest (50% for improvement/rehab loans)
First-time only:: Yes

County Programs in Cook County

Program Name	Type	Amount	First-Time Only	Details
Cook County Down Payment Assistance Program	Forgivable Loan	—	No	View →

Cook County Down Payment Assistance Program

Type:: Forgivable Loan
First-time only:: No

State Programs in Illinois

Program Name	Type	Amount	First-Time Only	Details
FHLBank Chicago Downpayment Plus (DPP)	Grant	Up to $10,000 forgivable grant (lesser of $10,000 or 25% of the first mortgage amount)	No	View →
IHDA Access Deferred	Deferred Loan	—	Yes	View →
IHDA Access Forgivable	Forgivable Loan	—	Yes	View →
IHDA Access Repayable	Zero-Interest Loan	—	Yes	View →
IHDA Mortgage Credit Certificate (MCC)	Tax Credit	—	Yes	View →
IHDA SmartBuy	Forgivable Loan	—	Yes	View →
IHDAccess Home	Deferred Loan	—	Yes	View →
Opening Doors / Abriendo Puertas	Forgivable Loan	—	Yes	View →

FHLBank Chicago Downpayment Plus (DPP)

Type:: Grant
Amount:: Up to $10,000 forgivable grant (lesser of $10,000 or 25% of the first mortgage amount)
First-time only:: No

IHDA Access Deferred

Type:: Deferred Loan
First-time only:: Yes

IHDA Access Forgivable

Type:: Forgivable Loan
First-time only:: Yes

IHDA Access Repayable

Type:: Zero-Interest Loan
First-time only:: Yes

IHDA Mortgage Credit Certificate (MCC)

Type:: Tax Credit
First-time only:: Yes

IHDA SmartBuy

Type:: Forgivable Loan
First-time only:: Yes

IHDAccess Home

Type:: Deferred Loan
First-time only:: Yes

Opening Doors / Abriendo Puertas

Type:: Forgivable Loan
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 →
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 →

FHA Loans

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

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

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

HomeReady Mortgage (Fannie Mae)

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

HUD $100 Down Program

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

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

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 Chicago	Zero-Interest Loan	Below-market home with 0% interest mortgage	Yes	View →
Here to Stay Community Land Trust	Silent Second Mortgage	Below-market home prices through CLT model	Yes	View →

Habitat for Humanity Chicago

Type:: Zero-Interest Loan
Amount:: Below-market home with 0% interest mortgage
First-time only:: Yes

Here to Stay Community Land Trust

Type:: Silent Second Mortgage
Amount:: Below-market home prices through CLT model
First-time only:: Yes

Free eligibility check

22 programs available in Chicago. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. IHDA programs generally require household income within county limits (Cook County cap is 7,885 for IHDAccess Home) and a minimum credit score of 640. City and nonprofit programs have their own income rules, typically set at 80-140% of Area Median Income.

Step 2: Complete homebuyer education. IHDA-approved online courses are available through eHome America and Framework. For in-person counseling, contact Neighborhood Housing Services of Chicago at (773) 329-4111 or Housing Action Illinois-affiliated HUD-approved agencies.

Step 3: Connect with a local housing partner. Neighborhood Housing Services of Chicago, Here to Stay Community Land Trust, Habitat for Humanity Chicago, and the Chicago Housing Trust each have their own application process. Reach out early to understand program availability.

Step 4: Get pre-approved with an IHDA-approved lender. IHDA's network includes 160+ lenders statewide. For the TaxSmart MCC, choose a TaxSmart-participating lender. For Downpayment Plus, choose a participating FHLBank Chicago member bank or credit union.

Step 5: Find a home within program limits. BNAH targets five specific neighborhoods (Englewood Square, North Lawndale, South Lawndale, Humboldt Park/Garfield Park, and Woodlawn). TaxSmart requires Chicago city limits. Cook County DPA applies countywide (when funded).

Step 6: Reserve your assistance funds. Most DPA programs operate on a first-come, first-served basis, so reservations happen after pre-approval but before the contract. Your lender handles the reservation on your behalf.

Step 7: Close on your home. Most DPA and MCC funds are applied at closing. Confirm final numbers and lien filings with your lender and closing attorney before signing.

Frequently Asked Questions

How much down payment assistance can I get in Chicago?+

Assistance stacks can reach well into six figures depending on eligibility. IHDAccess Home provides up to ,000, IHDA Access Forgivable up to ,000, Opening Doors ,000 forgivable, and FHLBank Chicago Downpayment Plus up to ,000. On top of that, the Cook County DPA offers up to ,000 (when funded), and the city-level BNAH program provides up to 0,000 in purchase price assistance for new construction in targeted neighborhoods. Most buyers will combine one IHDA DPA product with either TaxSmart MCC or Downpayment Plus, producing ,000 to ,000 in total assistance plus an ongoing annual tax credit.

Do I have to be a first-time homebuyer?+

Most programs require first-time buyer status, defined as not having owned a primary residence in the past 3 years. This applies to IHDAccess Home, all IHDA Access products, Opening Doors, TaxSmart MCC, Chicago Housing Trust, Here to Stay CLT, Habitat for Humanity Chicago, and CHA Choose to Own. The Cook County DPA program accepts both first-time and repeat buyers, and BNAH does not require first-time status. The 3-year rule is waived in federal Targeted Areas for IHDA and TaxSmart programs.

What is the maximum home price in Chicago?+

Most IHDA and TaxSmart programs follow federal purchase price limits for the Chicago MSA, which are set annually and vary by Targeted vs. Non-Targeted areas. BNAH applies only to newly-built homes in designated redevelopment areas with prices set by the City. Chicago Housing Trust, Here to Stay CLT, and Habitat for Humanity homes are priced below market by design. With a Chicago median home price near 0,000, most standard mortgage programs and DPA products comfortably cover typical purchases.

What homebuyer education is required?+

Nearly every program requires a HUD-approved homebuyer education course. IHDA accepts online courses through eHome America and Framework. In-person education is available through Neighborhood Housing Services of Chicago (773-329-4111), Spanish Coalition for Housing, and other HUD-approved counseling agencies in Chicago. Habitat for Humanity Chicago and CHA Choose to Own require additional program-specific education.

Can I use these programs if I already have a CHA voucher?+

Yes. The CHA Choose to Own program is specifically designed for Housing Choice Voucher holders and Public Housing residents who have been with CHA for at least 1 year. It converts your rental subsidy into a monthly mortgage subsidy (HAP) for up to 15 years for working head of households, or up to 30 years for elderly (62+) and disabled head of households. You can also combine CHA CTO with IHDA DPA programs to further reduce out-of-pocket cost.

Is the Cook County DPA program still available?+

As of 2026, the Cook County Down Payment Assistance Program is currently out of funds and not accepting new applications. The Cook County Board approved second-phase funding previously, and the program typically reopens when new funds are allocated. Check the Cook County website or club720.org/cookcounty-dpa for real-time funding status before planning your purchase around it.