NHS Chicago / NLS Down Payment Assistance Grant

NHS Chicago / NLS Down Payment Assistance Grant is a grant for homebuyers in Chicago, Illinois, administered by Neighborhood Housing Services of Chicago (NHS Chicago) / Neighborhood Lending Services, Inc. (NLS). Up to $30,000 in down payment/closing cost grants. True grant — no repayment required. Stackable with City of Chicago HomeGrown, MMRP, CHA DPA, and 3C Chicago grants. CDFI-backed affordable mortgage products. 3 Chicago office locations. Funding comes from Multiple public and private funders; NHS Chicago institutional investors and philanthropic sources.

NHS Chicago / NLS Down Payment Assistance Grant offers up to $30,000 in assistance. The program can be combined with City of Chicago HomeGrown Purchase Assistance; MMRP Purchase Assistance Grant; CHA DPA; 3C Chicago. Amounts are the program's published maximums, not an offer — Neighborhood Housing Services of Chicago (NHS Chicago) / Neighborhood Lending Services, Inc. (NLS) determines any individual award.

NHS Chicago / NLS Down Payment Assistance Grant is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

NHS Chicago / NLS Down Payment Assistance Grant is open to homebuyers who will live in the home as their primary residence. On credit, the program states: NLS loan originator evaluates credit and qualifications during application. A homebuyer education course is required, through NHS Chicago homebuyer education; eHome America self-paced online option. Residency requirement: City of Chicago. Must obtain primary mortgage through NLS (NHS's lending arm). Specific grant amount depends on which grant programs the borrower qualifies for as identified by NLS loan originator. NLS is a licensed Illinois Residential Mortgage Banker (MB.6850297). Apply at nls.mymortgage-online.com or call NLS at 773-716-3505. [orig: assistance_amount: Up to $30,000].

NHS Chicago / NLS Down Payment Assistance Grant sets its income limit as follows: Grant eligibility assessed by NLS loan originator based on borrower profile; income limits vary by funding source. 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.

NHS Chicago / NLS Down Payment Assistance Grant caps the purchase price as follows: Home must be within City of Chicago. New construction is eligible. Manufactured homes are not eligible.

NHS Chicago / NLS Down Payment Assistance Grant serves homebuyers purchasing in Chicago, Illinois.

Applications for NHS Chicago / NLS Down Payment Assistance Grant go through Neighborhood Housing Services of Chicago (NHS Chicago) / Neighborhood Lending Services, Inc. (NLS), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.