What down payment assistance is available in Chicago IL?

Chicago buyers have access to 8+ DPA programs. IHDA IHDAccess Home provides up to $15,000 as a deferred second mortgage (launched March 2026). The MMRP grant offers up to $30,000 in select neighborhoods. Cook County DPA provides up to $25,000 forgivable. FHLB Chicago Downpayment Plus offers up to $10,000 as a grant. Credit scores start at 620 for some programs.

What is the IHDA IHDAccess Home program?

IHDAccess Home is IHDA's newest and largest DPA program, launched March 11, 2026. It provides up to $15,000 (6% of purchase price) as a 0% interest deferred second mortgage with no monthly payments. Repaid only on sale, refinance, or after 30 years. First-time buyers or veterans. 640 credit score. Income limit $137,885 for Cook County. Works with FHA, VA, USDA, and conventional loans.

What credit score do I need for DPA in Chicago?

Cook County DPA starts at 620. All IHDA programs require 640. FHLB Downpayment Plus is lender-dependent. Most Chicago buyers with a 640 credit score have access to the full range of programs.

Do I have to be a first-time buyer for Chicago DPA?

Not for all programs. IHDA IHDAccess Forgivable ($6,000) and IHDA IHDAccess Deferred ($7,500) accept repeat buyers. Cook County DPA accepts repeat buyers. IHDAccess Home ($15,000) requires first-time status but waives this for veterans.

What is the FHA loan limit in Chicago?

The FHA loan limit for Cook County is $541,287 for a single-family home in 2026. Chicago's median sale price of approximately $390,000 is well below this, so all FHA-based DPA programs work on most Chicago purchases.

Can I combine DPA programs in Chicago?

Yes, in some cases. IHDA IHDAccess Home ($15K) can typically be layered with Cook County DPA ($25K forgivable) and FHLB Downpayment Plus ($10K grant) when a buyer qualifies for each. Confirm stacking with your lender before relying on it. The TaxSmart MCC can also be paired with IHDA programs for ongoing tax savings.

What is the MMRP program in Chicago?

The Micro Market Recovery Program (MMRP) was a $30,000 grant administered by NHS Chicago for buyers in 19 designated South and West Side neighborhoods. As of April 2026, NHS Chicago is no longer accepting applications and the program is closed. Buyers in those neighborhoods should look at Cook County DPA, IHDA IHDAccess Home, and FHLB Downpayment Plus instead.

Do veterans get extra DPA in Chicago?

Yes. IHDA IHDAccess Home waives the first-time buyer requirement for veterans. VA loans (0% down, no PMI) can be paired with IHDA programs for closing cost coverage. CHA offers $20,000 DPA grants for CHA residents (when open). HUD Good Neighbor Next Door provides 50% discounts on select HUD homes for veterans in revitalization areas.

What income limits apply for Chicago DPA?

IHDA IHDAccess Home: $137,885 for Cook County. IHDA Forgivable: ~$134,520. Cook County DPA: 120% AMI ($143,880) with no income limit in Disproportionately Impacted Areas. Chicago's AMI is $119,900 for a family of 4. Most programs extend well above median income.

Is the MMRP $30K grant still available in Chicago?

No. NHS Chicago closed the Micro Market Recovery Program (MMRP) Purchase Assistance Grant in April 2026 and is no longer accepting applications. Buyers in the 19 previously eligible South and West Side neighborhoods should explore Cook County DPA ($25K forgivable), IHDA IHDAccess Home ($15K deferred), and FHLB Downpayment Plus ($10K grant) instead.

How long does it take to get DPA in Chicago?

IHDA programs process through your lender and add 1-2 weeks to standard closing. CHA programs require homebuyer education (8 hours) and may have waitlists. Cook County DPA processes through the county office. Start education and lender selection early. Most DPA-backed closings in Chicago take 35-50 days.

Down Payment Assistance Chicago IL 2026 | 8+ Programs, Up to $30K Grant

Last updated: April 2026 · Program availability changes frequently

Down Payment Assistance in Chicago: Overview

Chicago has one of the deepest DPA landscapes of any major city. The median sale price is approximately $390,000. A 3.5% FHA down payment on that is $13,650. Illinois just launched its largest DPA program ever: IHDAccess Home provides up to $15,000 as a deferred second mortgage with no monthly payments. That single program covers the entire minimum FHA down payment on a median-priced home. And it is just one of 8+ programs available to Chicago buyers.

Chicago's biggest neighborhood-specific grant, the Micro Market Recovery Program (MMRP), is no longer accepting applications as of April 2026. The strongest open options now are Cook County's pilot DPA program (up to $25,000 forgivable over 5 years, with $8.6 million in approved Phase 2 funding) and IHDA's statewide programs. For buyers targeting specific Cook County neighborhoods, the dollar amounts available still rival any major market in the country.

Cook County's Area Median Income is $119,900 for a family of four. The IHDA IHDAccess Home program caps at $137,885. Cook County DPA reaches 120% AMI ($143,880) and eliminates income limits entirely in Disproportionately Impacted Areas. A household earning $130,000 is not disqualified. A household in a DIA neighborhood may have no income cap at all.

The FHA loan limit for Cook County is $541,287. Chicago's $390K median is well below that, so every FHA-based DPA program works on the vast majority of purchases. Multi-unit properties (2-4 units, common in Chicago) have even higher FHA limits. This guide covers what is open, who qualifies, and how to layer programs for maximum benefit.

Quick Answer

Yes. Chicago has 8+ DPA programs across city, county, and state levels. The highest-dollar options are neighborhood-specific, but statewide IHDA programs are available everywhere in Cook County.

IHDAccess Home ($15,000 deferred, launched March 2026) is the broadest new option. Cook County DPA provides up to $25,000 forgivable. FHLB Downpayment Plus offers a $10,000 grant. These can potentially be layered together. Credit scores start at 620. Note: the MMRP neighborhood grant is closed as of April 2026.

The key path for most Chicago buyers: IHDA programs as the foundation, Cook County DPA on top if you qualify, and FHLB Downpayment Plus as a supplemental grant through your lender.

Chicago and Cook County Programs

Open IHDA (Statewide)

IHDAccess Home (NEW: March 2026)

Amount: Up to $15,000 (6% of purchase price)

Type: 0% deferred second mortgage (no payments)

Income limit: $137,885 (Cook County)

First-time buyer: Required (veterans exempt)

Credit score: 640 minimum

Buyer contribution: $1,000 or 1% (whichever is greater)

IHDA's largest DPA program ever. Repaid only on sale, refinance, or after 30 years. Works with FHA, VA, USDA, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage loans. 160+ approved lenders statewide. Homebuyer education required before closing.

Closed City of Chicago

MMRP (Micro Market Recovery Program)

No longer accepting applications. NHS Chicago has closed the MMRP Purchase Assistance Grant as of April 2026.

Prior amount: Up to $30,000 grant

Type: Grant (no repayment)

Income limit: 120% AMI (~$143,880)

Buyer contribution: 1% minimum down payment

Previously available in 19 designated neighborhoods. Administered by NHS Chicago. Check the NHS Chicago purchase assistance grants page for current program status. Other Chicago and Illinois DPA programs below remain open.

Verify Funding Cook County

Cook County Down Payment Assistance

Amount: Up to $25,000 (5% of sale price)

Type: Forgivable second loan (forgiven over 5 years)

Income limit: 120% AMI ($143,880); no income limit in DIAs

First-time buyer: Not required

Credit score: 620 minimum

Phase 2 funding: $8.6M approved

Phase 1 pilot helped 210 buyers with average assistance of $15,000. Phase 2 has $8.6M in approved funding. In Disproportionately Impacted Areas, there is no income limit. Forgiven 1/60th per month over 5 years. Sold or refinanced before 5 years = remaining balance due.

Funding cycles matter: Cook County DPA operates on limited funding that opens and closes. CHA DPA has been closed since October 2025, and NHS Chicago closed the MMRP Purchase Assistance Grant in April 2026. Check current application status before planning around any city or county program. IHDA programs are the most consistently available because they are funded through the state housing finance agency.

How DPA Programs Work in Chicago

True Grants

Money you never repay. FHLB Downpayment Plus ($10,000) is the leading open grant in Chicago, available through participating lenders. No lien, no repayment after the 5-year retention period. On a $390K FHA purchase, $10,000 covers most of the $13,650 minimum down payment. NHS Chicago's MMRP grant ($30,000) closed in April 2026; check current status before relying on any neighborhood-specific grant. Grants are the cleanest form of assistance, but the catch is limited funding and geographic restrictions.

Deferred Second Mortgages

No monthly payment. Repaid when you sell or refinance. IHDAccess Home ($15,000) and IHDAccess Deferred ($7,500) use this structure at 0% interest. The balance sits quietly for up to 30 years. That keeps your monthly payment lower, but the deferred amount reduces your net proceeds at sale. It is a cost shifted to the future, not eliminated. For buyers who plan to stay 10+ years, the effective cost approaches zero because of inflation.

Forgivable Loans

Forgiven after a set period if you stay in the home. IHDAccess Forgivable ($6,000) forgives over 10 years. Cook County DPA ($25,000) forgives over 5 years. FHLB DPP ($10,000) forgives over 5 years. Sell or refinance before the period ends and you repay the prorated balance. Five years is the most common forgiveness timeline in Chicago.

TaxSmart MCC (Mortgage Credit Certificate)

Not DPA, but reduces your tax burden. Provides a 25% income tax credit on annual mortgage interest paid, up to $2,000 per year, for the life of the loan. On a $350K mortgage at 7%, that is approximately $6,125/year in interest, yielding a $1,531 tax credit annually. Over 10 years: $15,310 in savings. Can be paired with IHDA DPA programs. Series 2026 is currently active for Chicago first-time buyers.

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This guide is for informational purposes only and is not a commitment to lend. Program availability, terms, and eligibility requirements change frequently. All program details should be verified directly with the administering agency or an approved lender before making financial decisions. DownPaymentScout is an independent resource and is not affiliated with any government agency or lending institution. Information is believed accurate as of the date shown but is not guaranteed. Last updated April 2026.

Down Payment Assistance in Chicago, Illinois