Homebuyer Assistance

Want a home of your own, but can't meet the down payment and closing costs?

The Village of Romeoville, in association with a number of Illinois communities, offer a two-pronged approach to assist homebuyers: The Assist Homeownership Program provides families with funds to pay all or most of their closing costs and down payment and the Mortgage Credit Certificate (“MCC”) program reduces the homebuyer’s ongoing cost of borrowing.

What is the Assist homeownership program?

Assist is a program that offers individuals and families with a FHA/VA/RD (640 minimum credit score) or 30-year, fixed-rate mortgage (660 minimum credit score) and offers a 3% to 7% cash grant on the amount borrowed on a mortgage to qualified home buyers. The cash assistance may be used to offset some or all of the home loan’s down payment and closing costs. The Assist program minimizes the amount of money you need on hand to purchase your home.

What are Mortgage Credit Certificates?

MCC’s are a federally authorized program created as an alternative to tax-exempt housing bonds to reduce effective interest costs for qualifying homebuyers. MCC’s allow the homebuyer to qualify for a federal income tax credit equal to a percentage of the interest paid on their home loan each year. MCC holders still qualify for a regular deduction of the remaining interest paid on their home loan.

  Without MCC With MCC
Mortgage Amount $100,000 $100,000
Mortgage Interest Rate* 4.50% 4.50%
Monthly Mortgage Payment
(first year interest = $4,467)
$506.69 $506.69
MCC Rate N/A 35%
Monthly Credit Amount (First Year Average)
(35% of $4,467 is first year credit)
N/A $130.29
"Effective" Monthly Mortgage Payment $506.69 $376.40
*The interest rate indicated is only for representation purposes. Please check the Illinois Assist website by clicking here for today's rate.


The program is open to individuals and families who:
  1. Meet the income and purchase price requirements.
  2. Have not owned a home in three years.
  3. Meet the qualifying requirements for a mortgage loan.
  4. Will use the home as their principal residence.
  5. Will use the program for a home purchase, not refinance.


Homes that meet the program guidelines are new or existing, owner-occupied, single family homes, town homes and condominiums. Purchase Price and Income Limits can be found here as well as below.

Purchase Price Limits: Non-Targeted


Purchase Price Limits: Targeted


Income Limits: Non-Targeted Area

1 or 2 Persons
3 or More
$89,100 $102,465

Income Limits: Targeted Area

1 or 2 Persons
3 or More
$106,920 $124,740

How to Sign Up

  • Contact Angela Conover at (312) 664-5656 or via email. You can also try the online loan application page.
  • Meet the program guidelines and qualify for the new home.
  • Close on your purchase and enjoy your new home.

Participating Lenders

  • Allied First Bank
  • Alpine Bank & Trust Co.
  • American Chartered Bank
  • BBMC Mortgage, a Division of Bridgeview Bank Group
  • Blackhawk Bank
  • Blueleaf Lending, LLC
  • Bridgeview Bank Group
  • Busey Bank
  • Caliber Home Loans
  • Central Illinois Bank (CIBM)
  • Chicago Financial Services, Inc.
  • CIBC Bank USA
  • Compass Mortgage, Inc.
  • Draper & Kramer Mortgage
  • Evolve Bank & Trust
  • Fairway Independent Mortgage Corporation
  • First Centennial Mortgage
  • First Midwest
  • Fortress Bank
  • Guaranteed Rate Affinity
  • Guaranteed Rate, Inc.
  • Heartland Bank and Trust Company
  • Herget Bank, N.A.
  • Inland Home Mortgage
  • loanDepot.com, LLC
  • Midwest Community Bank
  • Mortgage Services III (MSI), LLC
  • Mutual of Omaha Mortgage dba of Synergy One Lending Inc.
  • PrimeLending, a Plains Capital Company
  • Standard Bank & Trust Company
  • Town & Country Bank
  • Wells Fargo Bank, N.A.
  • Wintrust Mortgage