See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent
Homebuyer Programs in Niles, IL (2026)
Niles is a near-north Chicago suburb in Cook County with a population of about 30,064 and a median home price near $395,000. Known for its mid-century ranches, split-levels, and brick bungalows, Niles offers strong transit access, walkable neighborhoods, and proximity to Park Ridge, Morton Grove, and the city of Chicago. First-time buyers in Niles can combine Illinois Housing Development Authority statewide programs (up to $10,000 from IHDA Access Deferred, Forgivable, or Repayable; up to $15,000 from IHDAccess Home; up to $10,000 from FHLBank Chicago Downpayment Plus; plus the Mortgage Credit Certificate) with the Cook County Down Payment Assistance Program, which offers 5 percent of the purchase price up to $25,000 when funding is open. Active Housing Choice Voucher participants may apply their voucher toward a mortgage through the Housing Authority of Cook County (HACC) Homeownership Program.
County Programs in Cook County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Cook County Down Payment Assistance Program | Forgivable Loan | — | No | View → |
- 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 → |
- 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 |
|---|---|---|---|---|
| HACC Housing Choice Voucher Homeownership Program | Grant | Monthly Housing Assistance Payment (HAP) applied to mortgage payments for up to 15 years (or 30 years for elderly/disabled households) | Yes | View → |
- Type:
- Grant
- Amount:
- Monthly Housing Assistance Payment (HAP) applied to mortgage payments for up to 15 years (or 30 years for elderly/disabled households)
- First-time only:
- Yes
How to Apply
Step 1: Check your eligibility. IHDA programs require a minimum 640 credit score, first-time buyer status (no home ownership in the past 3 years), and household income within county limits. Cook County DPA allows up to 120 percent AMI (with no income cap in Disproportionately Impacted Areas or Qualified Census Tracts).
Step 2: Complete a HUD-approved homebuyer education course. Most programs require an 8-hour course, available online or through local counseling agencies.
Step 3: Get pre-approved with an IHDA-approved lender. IHDA publishes a list of more than 160 participating lenders on their website.
Step 4: If pursuing the Cook County DPA, verify current funding status with Cook County. The program reopened in June 2025 but has periods when funds are exhausted and applications are paused.
Step 5: For HACC HCV participants, contact the Housing Authority of Cook County Homeownership Program to confirm eligibility and begin the transition from rental voucher to mortgage assistance.
Step 6: Identify a home in Niles within IHDA purchase price limits. Confirm current limits with your lender before writing an offer.
Step 7: Submit your full application. Your lender coordinates IHDA assistance and Cook County DPA layering as part of mortgage approval. FHLBank Downpayment Plus grants must be reserved by the lender before closing.
Step 8: Close on your home. Deferred and Forgivable assistance funds at closing; the Forgivable portion is forgiven over 10 years of owner-occupancy.
Frequently Asked Questions
How much down payment assistance can I get in Niles?+−
Does Niles have its own first-time buyer program?+−
What is the median home price in Niles?+−
Is the Cook County Down Payment Assistance Program currently funded?+−
Can Housing Choice Voucher holders buy a home in Niles?+−
Do I have to be a first-time buyer in Niles?+−
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