Cook County Down Payment Assistance Program
low-level alert: Applications closed
The Cook County Down Payment Assistance Program helps homebuyers with down payments, closing costs or mortgage buydowns.
The program provides subsidies of 5 percent of the home's sale price, up to $25,000. Currently, all funds have been used, and applications are not being accepted at this time.
Club 720 Solutions LLC, an organization committed to helping people on their home-buying journey, partners with Cook County on the program.
Stifel, Nicolaus and Company Inc., a brokerage and investment banking firm, is also a partner.
Homebuyers interested in the program, as well as lenders interested in becoming part of the program, should visit club720.org/cookcounty-dpa.
Eligibility
Those earning up to 120 percent of the County’s Area Median Income ($143,880 for a household of four) are eligible, and for those buying in Disproportionately Impacted Areas or Qualified Census Tracts, there is no income limit.
First-time and repeat buyers throughout Cook County who meet those criteria may apply.
All first-time homebuyers (first-time homebuyers include those purchasing a home for the first time in three years) must complete a homebuyer education course before closing. Courses are available on the Club 720 website.
Questions?
For direct assistance, email Club 720 at support@club720.org.
For media inquiries, email:
Maria Phelan, Cook County Bureau of Economic Development deputy director of communications
maria.phelan2@cookcountyil.gov
Kyle Garmes, Cook County Bureau of Economic Development public relations specialist