First-Time Buyers

• The Illinois Development Authority and its Home Start program aims to provide affordable housing throughout the state. Through the program, buyers can be awarded up to $3,000 for low-income families and $5,000 for very low-income families.
  
  

Eligibility

• Eligible families must meet certain requirements to be awarded this assistance. All homeowners are required to provide an equity contribution, which can be based on what they can afford. The minimal amount is $500. Buyers will also have to meet certain income limits set by both the federal and the Illinois state governments. For more information about the Home Start program's eligibility, call 312-836-5244.
  
  

American Dream

• Other assistance programs are available. The American Dream Down Payment Act provides grants to assist low-to-middle income families and uniformed employees, like police and firefighters, to purchase a home. Grant amounts are based on funding from the state and local governments and vary from year to year.