Buying a home in Cook County?

You could receive 5% in down payment and closing cost assistance.

Cook County DPA Program

This program helps homebuyers with down payments, closing costs, or mortgage buydowns by providing subsidies of up to $25,000 or 5% of the home’s sale price, whichever is less. In order to find out if you are eligible to use this program for your home purchase, please download the Club 720 mobile app.

Program Snapshot

Did you know?

5% of the loan amount in down payment and/or closing cost assistance
Available for FHA, VA, USDA, Fannie Mae, and Freddie Mac loans
Affordable loan forgiven over 5 years
No income limits in designated DIA or QCT areas
Backed by the Cook County Bureau of Economic Development

Eligibility Requirements

You may qualify if you:

Are purchasing a 1–2 unit property in Cook County as your primary residence
Have a credit score of 620 or higher
Have a DTI (debt-to-income ratio) under 50%
Earn up to 120% of the area median income (currently $143,880), unless buying in a DIA or QCT
Complete HUD-approved homebuyer education (if you haven’t owned a home in the past 3 years)

Check if your property is in a DIA/QCT area.

How the Assistance Works

Once you find a home and sign a purchase agreement, your lender will lock in your loan rate and the amount of down payment assistance you’re eligible to receive through the Second Loan.
This Second Loan can be up to 5% of your main (First) Loan amount. It comes with a five-year term, during which you don’t need to make monthly payments. The loan is forgiven gradually—1/60th each month—so long as at least one borrower continues to live in the home as their primary residence. If you sell or refinance the home before the five years are up, any remaining balance would be due at that time. To receive this assistance, you’ll need to sign a Second Promissory Note and a Second Mortgage.
You can use the Second Loan in one of two ways: either to help cover your down payment and closing costs or to lower your monthly mortgage payment by permanently buying down your loan’s interest rate.
Or to use a combination of both (use chart below)

Example Rate Buy-down Table

Loan Rate

Second Loan

Loan Price

Net Cash to Close

7.00%

5%

100%

5%

6.625%

5%

99%

4%

6.375%

5%

98%

3%

6.00%

5%

97%

5.75%

7%

5%

96%

1%

How to Apply

Follow these four steps:

Download the Club 720 App or check eligibility.

Complete the screening to confirm eligibility.

Choose from our list of Available Programs.

Get matched with an approved lender and start home shopping!

Download the Club 720 App

Use our free app to:

Download Now on iOS / Android

Approved Lenders

Lender

Branch Name

Branch Contact Info

Trusted Loan Officers

Are You a Mortgage Lender?

Want to participate in the Program?
Join as a Correspondent or Wholesale Lender.

Requirements:

Benefits:

Correspondent Lender Inquiry Form

Are You a Local Partner?
Join the Movement.

We’re looking for local champions—realtors, lenders, employers, and developers—who want to shape the future of housing in Cook County.

Why Join the Movement?

Be Part of a Community-Led Solution: Align your brand with Cook County’s commitment to expanding homeownership and supporting residents on their path to financial stability.

Gain Access to Pre-Qualified Buyers: Connect with individuals already engaged in financial education, coaching, and pre-qualification through Club 720—buyers who are prepared and motivated.

Expand Your Reach: Be featured as a trusted local partner across Club 720’s platform and marketing efforts, increasing your visibility to new clients across Cook County.

Make a Measurable Impact: Help more families secure homes, build generational wealth, and stay rooted in the community—all while growing your business in a meaningful way.

This is more than a partnership—it’s a community investment.

Cook County Down Payment Assistance