See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 16, 2026
Homebuyer Programs in Gurnee, IL (2026)
Gurnee is a village of about 30,500 in Lake County, Illinois, best known as the home of Six Flags Great America and a growing employment base along I-94. With a median home price near $380,000, Gurnee buyers benefit from layered assistance: Lake County residents can access up to $13,999 from the Community Partners for Affordable Housing (CPAH) Down Payment Assistance Program, a 0% interest loan forgiven at 1/60th per month. On top of that, the new IHDA Access Home program offers up to $15,000 (6% of purchase price) statewide as a deferred second mortgage, and FHLBank Chicago's Downpayment Plus Program adds up to $10,000 in forgivable grants. Habitat for Humanity Lake County builds affordable homes across the county for qualifying buyers. Combined with FHA, VA, USDA, and conventional low-down-payment programs, many Gurnee buyers can close with minimal cash out of pocket.
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 $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 → |
- Type:
- Grant
- Amount:
- Up to $10,000 forgivable grant (lesser of $10,000 or 25% of the first mortgage amount)
- First-time only:
- No
- Type:
- Deferred Loan
- First-time only:
- Yes
- Type:
- Forgivable Loan
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- First-time only:
- Yes
- Type:
- Tax Credit
- First-time only:
- Yes
- Type:
- Forgivable Loan
- First-time only:
- Yes
- Type:
- Deferred Loan
- First-time only:
- Yes
- 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 → |
- 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:
- 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
Step 1: Check your eligibility. Most Lake County programs require household income at or below 80% of the Area Median Income. IHDA Access Home and most state programs require a minimum credit score of 640 and first-time buyer status (no home ownership in the past three years).
Step 2: Complete homebuyer education. The Lake County Housing Authority offers free HUD-certified homebuyer education and pre-purchase counseling (HUD Agency #80113). Call 847-223-1170 to register.
Step 3: Contact Community Partners for Affordable Housing (CPAH) at 847-263-7478 to start the Lake County Down Payment Assistance application.
Step 4: Get pre-approved with an IHDA-approved lender. IHDA works with more than 160 participating lenders across Illinois. Use the IHDA lender locator at ihdamortgage.org to find one serving Gurnee.
Step 5: Find a home within program limits. Most IHDA programs have purchase price limits above the Gurnee median of $380,000, so most homes here qualify. Confirm with your lender before writing an offer.
Step 6: Submit your application. Your lender coordinates IHDA, Downpayment Plus, and any layered CPAH assistance.
Step 7: Close on your home. CPAH assistance is recorded as a 60-month forgivable second mortgage; IHDA assistance is a 0% deferred second due only upon sale or refinance.
Frequently Asked Questions
How much down payment assistance can I get in Gurnee?+−
Do I have to be a first-time homebuyer?+−
What is the maximum home price?+−
What homebuyer education is required?+−
Does Gurnee have its own village down payment program?+−
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