Joliet's Down Payment Assistance Program (Not Currently Taking Applications)
The City of Joliet, in cooperation with the Will County Center for Community Concerns, is pleased to announce the Joliet Down Payment Assistance Program. The program is open to low-income homebuyers purchasing a home. The property being acquired must be located within the Joliet city limits and occupied by the homebuyer as his/her principal residence. The down payment assistance is provided in the form of a zero interest, deferred payment loan (forgivable) secured by a second mortgage, note and recapture agreement.
The minimum down payment assistance is $1,000.00. The maximum down payment assistance is based on a maximum of 20% of the purchase price of the home. Homebuyer must provide a minimum of $2,500 from his/her own funds for the purchase of a home.
Eligible property types include a single-family home, townhouse, condominium and manufactured home on a fixed foundation. Homes located in the 100-year flood plain or that are tenant-occupied are ineligible. There are maximum purchase price limits and the property must pass inspections. Other restrictions apply. Applications must be submitted to the Will County Center for Community Concerns, 2455 Glenwood Ave, Joliet, IL 60435, Attn: Gina Venegas (815) 722-0722 x 221, Email: contactus@wcccc.net.