Homebuyer Assistance

Eligibility and How to Apply

The criteria to qualify for the programs are as follows:

• You must meet the program’s income and purchase price requirements (see below)
• You are approved for a mortgage loan through one of the participating lenders
• You are buying a single-family home or condo within the City of Champaign
• You are buying your first home or have not owned a new home within the past three years (this does not apply to buyers purchasing homes in a State of Illinois defined target area)

Additional Requirements for the Assist Program

• The home must be the principal residence
• The program must be used to purchase a home, not to refinance an existing mortgage

Income and Purchase Price Limits *

Non-Targeted Areas
Max. Household Income Limits		Max. Purchase Price Limits
1-2 persons	$66,300	Existing single-unit	$237,030
3 or more	$76,245	New single-unit	$237,030

Targeted Areas
Max. Household Income Limits		Max. Purchase Price Limits
1-2 persons	$79,560	Existing single-unit	$289,700
3 or more	$92,820	New single-unit	$289,700

* Effective May 1, 2008

Contact Information

Scott Rose
Phone: (217) 819-4058
Fax: (217) 328-2426