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Get Matched Free →St. Charles First-Time Homebuyer Loan Program
Funding status: Limited
How much assistance
Up to $10,000 (stackable with $10,000 Kane-Elgin HOME Consortium program for up to $20,000 total)
0% interest deferred loan. Repayment typically required upon sale, transfer of title, or when the home is no longer the primary residence.
Eligibility
- Income limits: Up to 80% of Area Median Income (AMI) for Kane County
- First-time buyer required: Yes —
- Geographic restrictions: Property must be located within the City of St. Charles, IL corporate limits
- Homebuyer education required: Yes
How to Apply for St. Charles First-Time Homebuyer Loan Program
- Live or work within the Kane-Elgin HOME Consortium for at least one year prior to application.
- Complete a HUD-approved homebuyer education course.
- Contribute at least 1 percent of the purchase price from your own funds.
- Identify a single-family home, townhome, or condo within the City of St. Charles corporate limits.
- Apply to the Kane-Elgin HOME Consortium for up to $10,000 in down payment assistance.
- Apply directly to the City of St. Charles Community Development Department for the additional city match (up to $10,000).
- Close on the home using approved first-mortgage financing (FHA, VA, USDA, or conventional).
- Maintain the home as your primary residence through the deferred-loan term.
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