Down Payment Assistance Program – Cook County | Illinois grant

Down Payment Assistance Program – Cook County

Closed

Cook County Bureau of Economic DevelopmentILFirst-Time Homeowner

Funding: Provides up to 5 percent of the sale price, capped at 25,000 dollars, in forgivable second-loan assistance that can be used toward down payment, closing costs, or interest rate buydowns, with forgiveness tied to compliance with occupancy and program terms while funds are available.County-run forgivable second-mortgage program that provides down payment, closing cost, and mortgage rate buydown assistance to income-eligible homebuyers purchasing 1–2 unit properties in Cook County.RollingDeadline: Scope: County (Cook County, Illinois)state

Updated: Dec 6, 2025

Summary

Offers substantial down payment or closing cost support to homebuyers in Cook County to help bridge upfront purchase cost barriers.

Benefits

down payment assistanceclosing cost assistancerate buydownforgivable second mortgagecounty programhomebuyer education required

Who Can Apply

homebuyerfirst-time homebuyerlow-income homebuyermoderate-income homebuyerIllinois homebuyerCook County homebuyer

Eligible Locations

Eligible homebuyers purchasing an owner-occupied 1–2 unit property in Cook County, Illinois, who complete HUD-approved housing counseling, use an approved lender, have a minimum credit score of 620, a maximum debt-to-income ratio of 50 percent, meet income limits at or below 120 percent of area median income unless buying in a Disproportionately Impacted Area or Qualified Census Tract where income limits are waived, and agree to occupy the home as their primary residence.

Eligibility

Eligible homebuyers for 1-2 unit property in Cook County, credit score ≥ 620, DTI ≤ 50%, income ≤ 120% AMI unless purchasing in a Targeted Area (then income limit waived).

Full Description

The Cook County DPA Program provides forgivable second-loan assistance (up to 5% of sale price, up to $25K) to eligible buyers for down payment/closing costs or rate buydowns. Requires HUD-approved counseling, primary residence occupancy, and use of approved lender. Income cap applies unless the property is in a Disproportionately Impacted Area (DIA) or Qualified Census Tract (QCT), in which case income limit is waived.

Verification & Details

Status: Closed

Source: cookcountyil.gov

Official source → cookcountyil.gov

Apply on official siteUpdated Dec 6, 2025

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