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mortgages Buying a Home - Illinois Real Estate

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

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

City of Chicago, Department of Housing - has many programs for city residents

Cook County Planning & Development

Lake County Affordable Housing Center

DuPage homeownership center - offers free homebuyer seminars, free credit seminars, free individual counseling and administers the DuPage Homestead Program

Corporation for Affordable Homes McHenry County

Village of Oak Park Homebuyer program

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
(630) 264-8280

Mary Ellen Wuellner
(217) 351-4427

Robert Grewe
(217) 384-2447

Linda Love
(217) 424-2797

Sue Guio
(815) 748-2060

Bob Listner
(815) 740-2453

Larry Nolan
(815) 939-9700

Dorothy Hummel
Madison Co.
(618) 692-7040

James Hogue
McHenry Co.
(815) 477-8442

Craig Anderson
(309) 797-0491

Nicole Roberts
Mount Prospect
(847) 818-3128

Steve Westerdahl
(309) 545-9557

Jill Ellestad
(309) 477-2319

General information
(815) 987-5690

Jan Sorenson
(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. 
Put Inputs Here



Loan Amount:

Annual Tax:

Annual Insurance:


Monthly Principle + Interest

Monthly Tax

Monthly Insurance

Total Payment

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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
Access Illinois Real Estate Listings

You will get free unlimited access to search Illinois real estate listings and as an added benefit for signing up you will receive all of the free home buying guides via email. If you feel that this site is beneficial, please email this page to the next person you know that may be thinking of buying a home.


First & Last Name

Email Address

How soon will you be buying a home?

You will be sent an email with all of the home buying guides and checklists available for downloading shortly. You will automatically be redirected to the real estate homes for sale research page.

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