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 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 Assist?

Assist is a program that offers individuals and families with a FHA/VA/RD, 30-year, fixed-rate mortgage and offers a full 3.00% cash grant on the amount borrowed on a mortgage to qualified home buyers for homes in Romeoville. 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=$3,967.95)
$506.69 $506.69
MCC Rate N/A 25%
Monthly Credit Amount (First Year Average)
(25% of $3,967.95 is first year credit)
N/A $93.06
"Effective" Monthly Mortgage Payment $506.69 $413.63
*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 are as follows:

Purchase Price Limits: Non-Targeted


Purchase Price Limits: Targeted


Income Limits: Non-Targeted Area

1 or 2 Persons
3 or More
$79,000 $90,850

Income Limits: Targeted Area

1 or 2 Persons
3 or More
$94,800 $110,600

How to Sign Up

  • Contact Angela Conover at (312) 664-5656 or via email.
  • Meet the program guidelines and qualify for the new home.
  • Close on your purchase and enjoy your new home.

Participating Lenders

  • 1st Advantage Mortgage LLC
  • Allied First Bank
  • Alpine Bank & Trust Co.
  • American Chartered Bank
  • BBMC Mortgage, a Division of Bridgeview Bank Group
  • Blackhawk Bank
  • Busey Bank
  • Caliber Home Loans
  • Central Illinois Bank (CIBM)
  • Compass Mortgage, Inc.
  • Evolve Bank & Trust
  • Fairway Independent Mortgage Corporation
  • First Centennial Mortgage
  • First Midwest
  • First State Bank of Illinois
  • Heartland Bank and Trust Company
  • Herget Bank, N.A.
  • Inland Home Mortgage
  • loanDepot.com, LLC
  • Mortgage Services III (MSI)
  • PrimeLending,a Plains Capital Company
  • Standard Bank & Trust
  • Town & Country Bank
  • Wells Fargo Home Loans
  • Wintrust Community Banks