Buying a Home - Illinois mortgages, down payment assistance and first time home buyer grants for buying Illinois real estate.

Research the available mortgages and home loan programs for buying Illinois real estate.

Bookmark this page for your home buying reference and email this page to the next person you know who will be buying Illinois real estate. 

• Government grants for buying a home

• Down payment assistance 

• Bad credit loans for buying a home

• mortgages and home loans

• Mortgage Calculator
  
  
• Search Illinois Real Estate Listings

Government grants for buying a home

Here are some links for government grants for buying a home in Illinois.

Illinois Housing Development Authority - uses state housing bond funds and HUD home funds to foster homeownership throughout the state of Illinois http://www.ihda.org/index.html

City of Chicago, Department of Housing - has many programs for city residents http://www.ci.chi.il.us/Housing/homeownership.shtml

Cook County Planning & Development http://www.co.cook.il.us/agencyDetail.php?pAgencyID=6

Lake County Affordable Housing Center 
http://www.co.lake.il.us/ahc/

DuPage homeownership center - offers free homebuyer seminars, free credit seminars, free individual counseling and administers the DuPage Homestead Program 
http://www.dupagehomeownershipcenter.org/home.html

Corporation for Affordable Homes McHenry County http://www.crystallakenet.org/cahmco/

Village of Oak Park Homebuyer program http://vil.oak-park.il.us/Community_Services/Home_Buyers_Assistance.html

The Peoria Homeownership Center
One Stop Home Shop (Home Ownership Made East) located in the Methodist Atrium Center at 900 West Main Street, Suite 120, Peoria, IL 61603
Office Hours: Monday through Friday, 8:00 A.M.-5:00 P.M.
Phone: (309) 672-4794

The cities listed below offer various incentives for home buying. Contact the city for details.

Nora Boyner
Arlington Heights
(847) 368-5214

Charles Huff
Aurora
(630) 264-8280

Mary Ellen Wuellner
Champaign
(217) 351-4427

Robert Grewe
Urbana
(217) 384-2447

Linda Love
Decatur
(217) 424-2797

Sue Guio
DeKalb
(815) 748-2060

Bob Listner
Joliet
(815) 740-2453

Larry Nolan
Kankakee
(815) 939-9700

Dorothy Hummel
Madison Co.
(618) 692-7040

James Hogue
McHenry Co.
(815) 477-8442

Craig Anderson
Moline
(309) 797-0491

Nicole Roberts
Mount Prospect
(847) 818-3128

Steve Westerdahl
Normal
(309) 545-9557

Jill Ellestad
Pekin
(309) 477-2319

General information
Rockford
(815) 987-5690

Jan Sorenson
Springfield
(217) 789-2377

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Down payment assistance 

Below are down payment assistance programs that may be used to buy a home in Illinois.

Nehemiah - down payment assistance program for buying a home with no money down.

HART - down payment assistance program allows you to buy a home with no money down.

Neighborhood gold - this is another down payment assistance program that allows you to buy a home with no money down.

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Bad credit loans for buying a home or refinancing.

There are many mortgage lenders who specialized in bad credit loans for buying a home in Illinois or refinancing. Use the link below to complete a form from our partner LendingTree and receive offers from lenders who maybe able assist you.

Bad Credit Mortgage Loans - these types of mortgages are for those individuals  with the following types of issues:

• bankruptcy in the last 2 years

• foreclosure in the last 3 years

• low credit scores below 620

(not sure what your credit score is, get a Free Credit Report)

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mortgages and home loans

These website can assist your with obtaining mortgages for buying a home in Illinois.

FHA loans - government insured mortgages that allow you to buy a home with only 3% down payment.

VA loans - if you are a veteran, you may buy a home with no money down.

Conventional Loans - any mortgage loan that requires 5% down payment and is less than $417,000 for a single family home.

Jumbo loans - any mortgages where the loan amount is higher than $417,000 for a single family home.

Mortgages - this site has information regarding fannie mae and freddie mac conventional loans.

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Mortgage Calculator

Use this mortgage calculator to calculate the monthly mortgage payment based on the required loan amount, current mortgage rates, and loan term of various types of mortgages you research on this page.

Following are instructions to calculate a mortgage for buying a home:

1. Subtract your estimated down payment from the price of the home you wish to buy and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
   
2. Estimate Annual Property Tax and Homeowners Insurance and enter these values.
   
3. Each time you change a value hit "Calculate Now" to see what the effect is. 

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Illinois Real Estate of Homes for Sale

Now that you understand the home buying process and have been pre-approved for a mortgage loan get started searching  Illinois real estate of homes for sale.

Complete the form below for direct access to the following types of Illinois real estate listings:

• Illinois Real Estate Listings and MLS
• Illinois HUD Homes
• Illinois For Sale By Owner Homes
• Illinois New Homes for Sale
• Illinois Foreclosure Homes for Sale

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