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Homebuyer Assistance | Housing Loans and Grants | Condominium Association Resources

First-time homebuyer’s assistance

The Village, through its tax exempt bonding authority and in partnership with the Illinois Housing Development Authority has made available through participating lending institutions, mortgage lending assistance. To qualify, the purchaser must not have owned a home within the last three years and must have sufficient income to support a mortgage payment. The purchaser’s income must fall within the maximum allowed to qualify and the home’s purchase price must fall within the maximum limits. While not required, the Village does encourage first time homebuyers to attend a counseling session with a qualified homebuyer counseling agency. The Oak Park Regional Housing Center provides homebuyer counseling. For more information, call 708.848.7150 or e-mail the Housing Division .

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Foreclosure prevention assistance

One-on-one foreclosure prevention counseling is now available via a new toll-free, telephone hotline sponsored by the Illinois Housing Development Authority. The hotline, 1.888.995.HOPE, is aimed at targeting homeowners in the early stages of mortgage difficulties – before foreclosure becomes the only remaining option. One-on-one foreclosure prevention assistance also is available through the Oak Park Regional Housing Center by calling 708.848.7150. For more information on assistance programs available to Oak Park residents, contact the Housing Programs Division at 708.358.5410 or e-mail the Housing Division .

Contact Number:
708.358.5410

Email:
housing@oak-park.us

Brochures/Fact Sheets:
• First-Time homebuyer fact sheet

Reports
2003 Affordable Housing Committee Report

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