Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program

What is Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program is a forgivable loan for homebuyers in Lake County (all municipalities), Illinois, administered by Community Partners for Affordable Housing (CPAH).

• Community Partners for Affordable Housing (CPAH) offers eligible Lake County first-time homebuyers up to $13,999 toward down payment, closing costs, or interest rate buydown in the form of a 0% interest forgivable loan. The loan is forgiven at 1/60th per month, fully extinguishing after 5 years of owner-occupancy. Buyers must not exceed 80% AMI, must purchase a 1-unit single-family home valued up to $304,950, contribute at least $1,000 or 1% down, and complete CPAH's in-person homebuyer education and individual counseling.
• Up to $13,999 in down payment/closing cost/rate buydown assistance.
• 0% interest, no monthly payment.
• 5-year prorated forgiveness.
• Covers all Lake County municipalities.
• CPAH education and counseling included.

How much assistance does it provide?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program offers up to $13,999 in assistance.

• Buyer contribution: Buyer must contribute $1,000 or 1% of purchase price, whichever is greater.
• Amounts are the program's published maximums, not an offer — Community Partners for Affordable Housing (CPAH) determines any individual award.

Do you have to pay it back?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, transfer of title, or cessation of primary residence within 5 years; forgiven 1/60th per month.
• 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?

Community Partners for Affordable Housing (CPAH) Lake County 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?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income cannot exceed 80% of Chicago-Naperville-Joliet HUD Metro Area AMI, adjusted for household size. 2024 4-person 80% AMI = $89,700 (Chicago MSA).
• 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?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program caps the purchase price at $304,950.

• Eligible property types include Single Family.
• Manufactured homes are not eligible.

Where does it apply?

Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program serves buyers purchasing in Lake County (all municipalities), Illinois.

How do you apply?

Applications for Community Partners for Affordable Housing (CPAH) Lake County Down Payment Assistance Program go through Community Partners for Affordable Housing (CPAH), 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 CPAH in-person homebuyer education class and individual counseling required.

2. 2

   Contact Community Partners for Affordable Housing (CPAH) to reserve funds

   Funds are reserved through First-come, first-served; contact CPAH to begin intake, 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.