First Time Home Buyer Loans in Illinois including Chicago

Buying an Illinois home is probably the biggest purchase you'll ever make. Without the proper information, it can also be the most difficult. The following steps will prepare you for the responsibilities of owning a home.

Step 1: Getting Pre-Qualified
Pre-qualification, the first step in obtaining a mortgage, is a quick comparison of your household income, debts, employment and estimated house payments. This step walks you through the process, verifying your eligibility, gathering basic information, and recommending available mortgage programs. read more...

Step 2: Finding an Affordable Property?
Finding an affordable property in Illinois, especially in or around the Chicago, can be quite a challenge. Once you've defined what you can afford to spend, take the time to define your wants and needs in a house, neighborhood and community.

Step 3: Making an Offer
Making an offer on a house may be the single most intimidating step for the first time home buyer. read more...

Step 4: Applying for a Mortgage
With an accepted offer in hand, it's time to start shopping for a loan. Even if you're pre-qualified with a lender, an educated home buyer will compare the terms of the different loan options that may be available. apply online...

Step 5: The Home Inspection
To protect yourself before you buy, you need to know everything you can about the condition of your prospective home. A home inspection is an in-depth examination of a home, and will identify any potential problems and necessary repairs.

Step 6: The Closing Process
Last but not least, it's time to close the loan. The final step in the process walks you through the loan closing, where the title is transferred from the seller to the buyer, and where the financial transaction is completed. Read about the final walk-through, closing costs and what to expect during the closing itself. read more...

Visit our First Time Home Buyer program page for additional programs available to first time home owners