Kane County Office of Community Reinvestment

First-Time Homebuyer Program

A homeownership assistance program funded by the Kane-Elgin HOME Consortium

The First-Time Homebuyer Program helps make the dream of homeownership a reality. The program provides up to $10,000 in down-payment and/or closing-cost assistance to first-time homebuyers in the form of a zero-interest, deferred-payment loan.  No interest accrues on the loan, and no payments are due until the home is sold, the title is transferred, or the home is no longer used as the homebuyer’s principal residence. When any of these events occur, the loan is repaid. 

Lenders: Kane County does NOT require Lenders to be pre-qualified. Homebuyers may work with a Lender of their choice to obtain their first mortgage. Please be aware, however, that a homebuyer's first mortgage must meet certain requirements that are outlined in the Program Guidelines (see link below).

To qualify for the program, homebuyers must currently live (or work full-time) in the Kane-Elgin Consortium Area**, and must have done so for at least one year leading up to application for the program. They must also not exceed Federal income limits, complete a homebuyer education course, and have a downpayment of at least 1% of the purchase price of the home they wish to purchase. All homes, townhomes, and condominiums purchased under the program must pass both a visual general inspection and a lead-based paint inspection to ensure the home meets housing quality standards.

Click on the links below for the Kane County First-Time Homebuyer Loan Program application form, guidelines and process. Please make sure that you read and follow the instructions carefully.

If you have questions, call the Kane County Office of Community Reinvestment at (6​30) 444-3027.

** The Kane-Elgin Consortium Area does not include the municipalities of Aurora, Hampshire, Huntley, and Montgomery. Algonquin and Huntley homebuyers should contact the Corporation for Affordable Homes of McHenry County at 815-206-5805 for additional information. Aurora homebuyers should contact the City of Aurora’s Division of Neighborhood Redevelopment at 630-256-3320.

The First-Time Homebuyer Program is one of several housing assistance programs funded by the Kane-Elgin HOME Consortium, a city-county partnership formed for the purpose of participating in the U.S. Department of Housing and Urban Development’s HOME Program.