Illinois Building Blocks Program
The Illinois Building Blocks Program offers up to $10,000 in down payment assistance for buyers purchasing vacant properties in 15 communities hard hit by foreclosures. The program is a coordinated effort to help stabilize neighborhoods, and provide affordable homeownership opportunities to buyers of vacant properties in the following communities:
|Park Forest||Peoria||South Holland|
The Illinois Building Blocks Program includes:
- a 30-year, fixed-rate mortgage featuring an affordable interest rate
- a $10,000 forgivable loan over two years for down payment and closing cost assistance
- Buyers do not have to be first-time homebuyers
- Properties must be vacant properties in the five communities listed above
- Income and purchase price limits must apply
- Maximum LTV 96.5-100 percent
- Maximum DTI 45 percent
- 1 and 2 unit properties including condos
- Pre-purchase counseling required
How to apply
For more details, please contact a participating lender.
If you are a developer interested in acquisition and rehabilitation opportunities under the Illinois Building Blocks Program, please see the Multifamily Developer section.