Mortgage Loan Programs

Buying or building a home can feel overwhelming—but the right financing can make all the difference. Beyond traditional mortgage loans, there are a variety of government-backed and state-sponsored programs designed to make homeownership more affordable and accessible. These programs often feature lower down payments, flexible credit requirements, and additional support for qualifying borrowers. Whether you’re a first-time homebuyer, a veteran, or looking to build in a rural community, these loan and grant options can help open the door to homeownership.

Programs Available

• FHA Loans
  • Backed by the Federal Housing Administration
  • Lower down payment and credit score requirements
  • Ideal for first-time buyers or those with limited savings
• VA Loans
  • For eligible veterans, active-duty service members, and certain military spouses
  • No down payment, no PMI, and competitive rates
  • Guaranteed by the U.S. Department of Veterans Affairs
• USDA Loans
  • For rural and suburban homebuyers who meet income requirements
  • No down payment and reduced mortgage insurance costs
  • Backed by the U.S. Department of Agriculture
• IHDA and Grant Programs
  • Illinois state-sponsored programs with down payment and closing cost assistance
  • Designed especially for first-time homebuyers
• Down Payment Plus Programs
  • Provides eligible borrowers with grant funds to cover down payment and closing costs
  • Available through participating lenders
  • Subject to income and program guidelines