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:

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

 

Eligibility

• 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.

Developer Information

If you are a developer interested in acquisition and rehabilitation opportunities under the Illinois Building Blocks Program, please see the Multifamily Developer section.