Down Payment Funds

The West Cook Homeownership Center can now provide financial assistance in the form of grants and forgivable loans through the West Cook Advantage Program, Cook County HOME funds, and other forms of down payment and closing costs assistance from IHDA and our lending partners.

West Cook Advantage Program: Home seekers interested in purchasing the rehabbed homes with new features as part of this program may qualify for financial assistance of up to $10,000 in forgivable loans and grants. Maximum household incomes must be at or below 120% of AMI. Some homes are restricted to households at or below 80% of AMI. (see chart below)

Cook County HOME Funds: First-time homebuyers with household incomes at or below 80% AMI (see chart below) can qualify for up to $15,000 when purchasing a new home in western Cook County. If purchasing a home in the West Cook Advantage Program, households may qualify for $5,000 to add to the West Cook Advantage grant.

Additional incentives, grants, and loans are available on their own or as additional layers of support, including from IHDA and our banking partners.

For more information, please contact us at (708) 771-5801.

2015 Income Limits Household Size (includes all persons who will live in the home)
1 Person 2 Persons 3 Persons 4 Persons 5 Persons 6 Persons 7 Persons 8 Persons
80% AMI          42,600          48,650          54,750          60,800          65,700          70,550          75,400          80,300
120% AMI          63,840          72,960          82,080          91,200          98,520        105,840        113,160        120,480