Saving for a down payment shouldn’t stop you from exploring homeownership. Discover homebuyer grants, forgivable assistance, deferred-payment programs, and closing cost assistance opportunities for qualified buyers. With iLoan’s Homebuyer Assistance Finder, you can explore programs in Illinois, Indiana, Iowa, Florida, Minnesota, and Wisconsin. Find out which programs may help you take the next step toward owning a home.
Homebuyer grants and down payment assistance programs are subject to funding availability, borrower qualifications, income and purchase price limits, lender participation, and program requirements. Some assistance must be repaid. Not all programs are available through every lender. Financing and assistance are not guaranteed.
Explore financial assistance programs that may help make homeownership possible.
iLOAN HOMEBUYER ASSISTANCE CENTER
Explore homebuyer assistance opportunities across the six states where iLoan is licensed. Compare assistance types, mortgage program compatibility, eligibility requirements and repayment conditions.
Filter by Assistance Type
Choose one of iLoan’s six licensed states to review potential homebuyer assistance options.
Select your state, homebuyer status and mortgage program to explore assistance opportunities through iLoan.
Assistance listings are informational and do not guarantee eligibility, current funding or loan approval. Some assistance is structured as secondary financing and may require repayment or satisfaction of forgiveness conditions. Program availability, compatible mortgage products, participating lenders and terms must be verified before application. iLoan is not the administrator of government assistance programs unless expressly identified.
Not all down payment assistance works the same way. Some programs offer grants that do not require repayment, while others provide assistance through a second mortgage with specific repayment terms. Understanding the difference matters.
Eligible homebuyers may receive funds toward approved down payment or closing expenses. A true grant generally does not require repayment when all award conditions are satisfied.
RepaymentSome programs provide a second mortgage that may be forgiven over a specified period if the buyer meets ownership, occupancy, and other conditions.
RepaymentA deferred loan may help cover purchase expenses without requiring immediate monthly payments. However, deferred does not automatically mean forgiven.
RepaymentSome assistance programs provide a second mortgage that must be repaid according to its loan terms. Payments, interest rates, and maturity dates depend on the program.
RepaymentA $10,000 grant and a $10,000 deferred second mortgage can have very different long-term consequences. Ask whether assistance creates a lien, whether interest accrues, when repayment becomes due, and what happens if you sell or refinance your home. iLoan can help you review the financing structure before proceeding.
Program descriptions are educational. Actual grant agreements, forgiveness schedules, repayment triggers, interest rates, and borrower obligations vary by administering agency and program.
Certain grant and down payment assistance programs can work alongside eligible conventional, FHA, VA, or USDA mortgages. The assistance provider, first mortgage program, and lender must all permit the financing arrangement.
Certain conventional programs allow as little as 3% down. Eligible grants and approved subordinate financing may help cover qualifying purchase expenses, subject to agency guidelines.
Explore Conventional Loans →FHA financing may allow 3.5% down for qualified borrowers. Approved assistance may help meet eligible purchase costs, provided the source and structure meet FHA requirements.
Explore FHA Loans →Eligible VA borrowers may qualify without a down payment. Certain assistance programs may help with eligible closing expenses, subject to VA and assistance-provider rules.
Explore VA Home Loans →USDA Guaranteed financing may offer zero-down purchase options for eligible households and properties. Compatible assistance may help with permitted closing expenses.
Explore USDA Home Loans →Consider a hypothetical $300,000 home purchase using a conventional mortgage with a 3% down payment and estimated closing costs of $9,000.
Without assistance, the example down payment and closing costs total $18,000. If $10,000 in assistance is approved and fully usable for those expenses, the remaining amount would be $8,000. This excludes additional prepaid expenses, reserves, and other transaction-specific adjustments. Repayable assistance creates an additional obligation.
Start with our six-state program finder, then connect with iLoan to review mortgage compatibility and assistance requirements.
Illustrative example only, not a representation of a specific program. Actual assistance amounts, eligible expenses, repayment obligations, mortgage compatibility, and required borrower funds vary. Assistance and loan approval are not guaranteed.
Homebuyer assistance programs have different qualification requirements. Eligibility may depend on household income, credit, homebuyer status, property location, and the mortgage program you select.
Many programs establish income limits based on household size, property location, or area median income. Some programs use qualifying borrower income, while others evaluate broader household income.
Assistance programs may require borrowers to meet minimum credit standards. Requirements can differ from those of the first mortgage, and participating lenders may have additional restrictions.
Some programs require first-time buyer status, often defined as not owning a principal residence during the previous three years. Other programs allow eligible repeat buyers or exceptions.
Eligible homes may need to meet location, purchase price, property condition, and primary residence requirements. Some assistance is restricted to specific counties or cities.
Certain programs require an approved homebuyer education course or counseling session. Completion deadlines and accepted education providers vary by program.
Many assistance programs must be paired with a qualifying first mortgage through a participating lender. Conventional, FHA, VA, or USDA financing may be permitted, depending on program rules.
Not always. Some homebuyer assistance programs are available to qualifying repeat buyers. Others specifically require first-time buyer status or provide exceptions for certain circumstances. Review the eligibility requirements for each program before assuming you do not qualify.
Preparing your information can help make the mortgage and assistance review process easier. Requirements vary by program and lender.
Whether you’re purchasing your first home or buying again, reviewing assistance options early can help you understand your potential financing opportunities.
Explore programs in Illinois, Indiana, Iowa, Florida, Minnesota, and Wisconsin using our interactive homebuyer assistance directory.
Compare program types, potential assistance, repayment requirements, and official agency information before choosing a mortgage.
Find Assistance in My State → Explore My Mortgage Options →Program availability, eligibility, repayment obligations, and lender participation vary. Assistance and mortgage approval are not guaranteed.
Potentially. Many homebuyer assistance programs are designed to work with eligible first mortgages. The mortgage program, assistance provider, and lender must all permit the proposed financing structure.
Certain conventional mortgage programs permit qualifying buyers to purchase with as little as 3% down. Eligible grants or approved assistance may help cover some purchase expenses.
FHA financing may allow qualifying borrowers with eligible credit scores of 580 or higher to purchase with 3.5% down. Approved assistance may help meet eligible purchase expenses.
Eligible veterans, service members, and certain surviving spouses may qualify for VA-backed financing without a down payment. Compatible assistance may help cover eligible closing expenses.
USDA Guaranteed loans may offer 100% purchase financing for qualifying households purchasing eligible homes. Compatible assistance may help with certain closing or prepaid expenses.
Some assistance programs are available only with designated first mortgages through approved participating lenders. Others may have broader compatibility. The assistance structure must satisfy the selected mortgage program’s rules, including permitted funding sources, second mortgage requirements, and applicable underwriting.
Eligible homebuyer grants and down payment assistance may reduce the amount of cash needed at closing. Here’s a hypothetical example of how approved assistance could help with a $300,000 home purchase.
In this example, $7,500 in approved assistance reduces the estimated down payment and closing cost funds from $18,000 to $10,500.
The right assistance program depends on your location, income, homebuyer status, mortgage type, and property eligibility.
This example is hypothetical and does not represent a specific grant, approved loan, or financing offer. It assumes $7,500 in assistance is permitted and fully applicable to the illustrated purchase expenses. Actual cash needed may include prepaid expenses, escrow deposits, required reserves, and other costs, offset by eligible credits or previously paid deposits. Some assistance programs require borrower contributions or impose repayment obligations. Funding, eligibility, and mortgage approval are not guaranteed.
iLoan helps homebuyers explore financing and assistance opportunities in Illinois, Indiana, Iowa, Florida, Minnesota, and Wisconsin. Learn about the state housing agencies administering homebuyer assistance programs, then use our interactive finder to explore your options.
Explore IHDA mortgage and down payment assistance programs, including Access Home, Access Forgivable, Access Deferred, and Access Repayable. Assistance structures and eligibility vary.
Explore IHCDA homebuyer assistance programs, including First Step and Next Home. Eligible borrowers may qualify for assistance paired with approved mortgage financing.
Explore Iowa Finance Authority programs for eligible homebuyers, including FirstHome assistance and second-loan options. Program terms and requirements vary.
Explore Florida Housing assistance programs, including Florida Assist, Florida HLP, HFA PLUS, and Hometown Heroes. Funding and eligibility must be verified.
Explore Minnesota Housing down payment assistance, including Deferred Payment, Deferred Payment Plus, and Monthly Payment Loan options. Qualification and repayment terms vary.
Explore WHEDA mortgage assistance programs, including Easy Close and Capital Access. Available assistance depends on borrower, mortgage, and program eligibility.
Use iLoan’s six-state Homebuyer Assistance Finder to compare program types, repayment structures, and official agency resources.
Program listings are educational and do not confirm current funding, lender participation, or borrower eligibility. Assistance programs and terms may change. Confirm current details with the official administering agency.
Finding an assistance program is only the beginning. Understanding whether you qualify, how the assistance works with your mortgage, and what happens at closing is equally important. iLoan helps homebuyers explore financing options and understand available assistance opportunities in our six licensed states.
iLoan can help qualified Illinois buyers explore IHDA mortgage programs and applicable down payment assistance options, subject to current program availability and requirements.
Explore mortgage and assistance opportunities in Illinois, Indiana, Iowa, Florida, Minnesota, and Wisconsin. Program participation varies.
Review eligible conventional, FHA, VA, and USDA financing options and understand which assistance structures may be compatible with your loan.
Learn the differences between grants, forgivable loans, deferred second mortgages, and repayable assistance before selecting a program.
Review estimated down payments, closing costs, mortgage payments, and potential assistance to understand your financing needs.
Learn about credit, qualifying income, required documentation, homebuyer education, and other program requirements before moving forward.
Whether you’re exploring an IHDA mortgage in Illinois or assistance in another licensed state, connect with iLoan to discuss your home purchase and potential financing options.
iLoan’s mortgage licensing does not establish participation in every housing agency assistance program. Eligibility, program availability, funding, lender approval, and mortgage qualification requirements apply. Assistance is not guaranteed.
Get answers to common questions about homebuyer grants, down payment assistance, repayment requirements, credit scores, and eligibility.
Some homebuyer assistance is provided as a true grant that generally does not require repayment when all program conditions are satisfied.
Other programs provide forgivable, deferred, or repayable second loans. Always review the program agreement before assuming assistance does not have to be repaid.
Assistance amounts vary by state, local program, mortgage type, income, purchase price, and available funding. Some programs provide fixed dollar amounts, while others calculate assistance as a percentage of the purchase price or mortgage amount.
Use our Homebuyer Assistance Finder to explore programs in iLoan’s six licensed states.
Not always. Some programs are specifically for first-time buyers, while others allow eligible repeat buyers.
Certain programs define a first-time buyer as someone who has not owned a principal residence during the previous three years. Definitions and exceptions vary.
Credit requirements vary by assistance program and participating lender. Borrowers generally must also qualify for an eligible first mortgage.
Some assistance programs have credit requirements that differ from the underlying FHA or conventional mortgage.
Many programs establish income limits based on location, household size, or area median income.
Some evaluate qualifying borrower income, while others consider broader household income. Program requirements should be verified before applying.
Potentially. FHA permits certain approved sources of down payment assistance, provided the assistance meets FHA requirements.
The assistance program and participating lender must also approve the financing arrangement. Explore FHA Loans .
Yes, certain assistance programs may help cover approved closing costs, prepaid expenses, or down payment requirements.
Eligible expenses, maximum assistance, borrower contributions, and funding restrictions vary by program.
It depends on the assistance structure. Deferred loans may become payable when the home is sold or refinanced.
Forgivable assistance may require repayment of any unforgiven balance if program conditions are not met. Review the actual assistance agreement.
Potentially. Some assistance programs allow repeat buyers, while others have first-time buyer requirements or qualifying exceptions.
Use our Homebuyer Assistance Finder to explore programs and review current agency requirements.
Start by identifying programs available where you plan to purchase. Review income, credit, mortgage, property, and homebuyer education requirements.
Many programs require an eligible first mortgage through a participating lender. Explore Your Options With iLoan .
Connect with iLoan to explore grants, down payment assistance, eligible mortgage programs, and available financing opportunities.
Found a program that interests you? Connect with iLoan to explore potential grants, down payment assistance, and mortgage financing options in our six licensed states.
Understanding available assistance programs is an important first step. iLoan can help you review mortgage requirements and explore assistance opportunities that may fit your home purchase goals.
Review eligible IHDA mortgage and down payment assistance opportunities for Illinois buyers.
Explore programs in Illinois, Indiana, Iowa, Florida, Minnesota, and Wisconsin.
Review conventional, FHA, VA, and USDA financing alongside eligible assistance and repayment requirements.
Complete the form below to connect with an iLoan mortgage professional about homebuyer grants, down payment assistance, and eligible financing.
Homebuyer grants and down payment assistance programs are subject to funding availability, income limits, credit requirements, property eligibility, lender participation, and applicable repayment conditions. Submitting an inquiry does not guarantee assistance, mortgage approval, or a commitment to lend.
© 2026 iLoan LLC. All Rights Reserved. iLoan is a direct lender. NMLS ID #1947845 — 999 Oakmont Plaza Dr, Suite 500, Westmont, Illinois 60559.
Please note that applications, legal disclosures, documents or other material related to iLoan products or services promoted on this page are offered in English only. The Spanish translation of this page is for the convenience of our clients; however, not all pages are translated. If there is a discrepancy between the content of the translated page and the content of the same page in English, the English version will prevail.
