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 ,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. 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).
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.
Contact Community Partners for Affordable Housing (CPAH) at 847-263-7478 to start the Lake County Down Payment Assistance application.
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.
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.
Submit your application. Your lender coordinates IHDA, Downpayment Plus, and any layered CPAH assistance.
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.