Downpayment Assistance Program

Downpayment Assistance Program es un préstamo condonable para compradores de vivienda en Condado de Will, Illinois. The Will County HOME Consortium Downpayment Assistance Program, administered by the Will County Center for Community Concerns (WCCCC) on behalf of the Will County Land Use Department - Community Development Division, provides up to $25,000 in down payment and closing-cost assistance to income-eligible first-time homebuyers purchasing a primary residence within the Will County HOME Consortium service area. Funded through HUD HOME Investment Partnerships, the assistance is structured as a 0%-interest deferred-payment forgivable second-mortgage loan with a HOME affordability period. Up to $25,000 in down payment and closing-cost assistance for income-eligible first-time homebuyers purchasing a primary residence within the Will County HOME Consortium service area (Will County, IL outside Joliet which administers its own City of Joliet DPA program). Structured as a 0%-interest, deferred-payment forgivable second mortgage with recapture agreement. Awarded first-come, first-served subject to fund availability. Los fondos provienen de Federal HOME y Local Government.

Downpayment Assistance Program ofrece hasta $25,000 de ayuda. Aporte del comprador de vivienda: Borrower must contribute at least $1,000 of own funds toward the purchase. El programa se puede combinar con otras ayudas, sujeto a las reglas de cada una. Los montos son los máximos publicados por el programa, no una oferta: la agencia que administra el programa determina cualquier ayuda individual.

Downpayment Assistance Program se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Deferred 0%-interest second mortgage with HOME affordability period (typically 5 years for assistance up to $25,000) y pro-rata recapture of unforgiven balance on sale, transfer, cash-out refinance, or loss of owner-occupancy during the affordability period. La ayuda se registra con un gravamen en posición 2. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Downpayment Assistance Program está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: First-time homebuyer = no homeownership in prior 3 years; standard HUD displaced-homemaker / single-parent exceptions apply. Sobre el crédito, el programa indica: No published Will County-specific minimum; first-mortgage product credit-score minimums apply. Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved housing counseling agency: Will County Center for Community Concerns (WCCCC) - 8-hour pre-purchase homeownership counseling required. Requisito de residencia: Property must be located within the Will County HOME Consortium service area (Will County, IL outside the City of Joliet) and serve as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Applicant must be a first-time homebuyer (no homeownership in prior 3 years). Household income at or below 80% HUD AMI for the Chicago-Naperville-Elgin HMFA, Will County portion (approximate range $62,800 1-person to $118,450 8-person under 2025 HUD limits). Property must be located within the Will County HOME Consortium service area (Will County, IL outside the City of Joliet, which administers its own DPA program) and serve as borrower's primary residence. Pre-purchase HUD-approved homebuyer counseling (8 hours) required through WCCCC. Loan is 0%-interest, deferred-payment, secured by a second mortgage and recapture agreement. HOME-funded; HUD HOME affordability period applies (typically 5 years for assistance under $25,000).

Downpayment Assistance Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 80% HUD AMI for the Chicago-Naperville-Elgin HMFA (Will County portion). 2025 approximate range: $62,800 (1-person) to $118,450 (8-person). El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Downpayment Assistance Program limita el precio de compra así: No published Will County-specific maximum purchase price; subject to first-mortgage product limits and HUD HOME affordability rules. Los tipos de propiedad elegibles incluyen Single-family detached, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Downpayment Assistance Program atiende a compradores de vivienda que compran en Condado de Will, Illinois.

Las solicitudes de Downpayment Assistance Program se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Application processed by Will County Center for Community Concerns (program administrator) in coordination with first-mortgage lender; awarded first-come, first-served subject to availability. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.