City of Joliet Down Payment Assistance Program

What is City of Joliet Down Payment Assistance Program?

City of Joliet Down Payment Assistance Program is a deferred second loan for homebuyers in Joliet, Illinois, administered by City of Joliet Neighborhood Services Division (processed via Will County Center for Community Concerns).

• The City of Joliet offers down payment and closing-cost assistance to income-eligible first-time homebuyers purchasing within Joliet city limits, as a 0% interest deferred second-mortgage loan repaid only if the home is sold, refinanced, or no longer the buyer's principal residence. Funded with federal HOME/CDBG dollars and processed in partnership with the Will County Center for Community Concerns.
• Down payment and closing cost assistance.
• 0% interest.
• No monthly payments (deferred).
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from Federal HOME and/or CDBG funds from HUD via the City of Joliet.

How much assistance does it provide?

City of Joliet Down Payment Assistance Program provides assistance worth 20% of the purchase price, as set by the program.

• Amounts are the program's published maximums, not an offer — City of Joliet Neighborhood Services Division (processed via Will County Center for Community Concerns) determines any individual award.

Do you have to pay it back?

City of Joliet Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Repayment triggered on sale, refinance, transfer of title, or when the home ceases to be the buyer's principal residence.
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Joliet Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Joliet Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at/below 80% AMI for the Chicago-Naperville-Joliet HUD Metro FMR Area, adjusted by size. By-household-size dollar limits could not be confirmed (joliet.gov renders via JavaScript; income-limit PDF not retrievable). Contact Neighborhood Services for the current table.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Joliet Down Payment Assistance Program caps the purchase price as follows: Must comply with HOME/CDBG max purchase price for the area; not in a 100-year floodplain; must pass inspection. Exact maximum not confirmed.

• Eligible property types include Single Family, Townhouse, Condo, and Manufactured.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

City of Joliet Down Payment Assistance Program is a federal program, so it is not limited to Illinois.

How do you apply?

Applications for City of Joliet Down Payment Assistance Program go through City of Joliet Neighborhood Services Division (processed via Will County Center for Community Concerns), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Will County Center for Community Concerns (HUD-approved, free)..

2. 2

   Contact City of Joliet Neighborhood Services Division (processed via Will County Center for Community Concerns) to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.