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Is the down payment holding you back from achieving your dream of homeownership?

Through IAA Credit Union's partnership with the Federal Home Loan Bank of Chicago, your dreams may not be so far-fetched. With the Downpayment Plus® Program*, you may be eligible for up to $10,000 in homebuying assistance.

 

Some key considerations in determining whether you qualify include:

  • Meeting certain income eligibility requirements. Reach out to our team with questions about whether you qualify. Many of our members do!
  • Contributing at least $1,000 toward the purchase of the home
  • Participating in homebuyer education and counseling
  • Living in the home as your primary residence

Loan Officer NMLS Numbers:

IAACU – 607491
Nicholas Brooks – 73544
Rachel Haworth-Smith – 1469299
Joyce Mason – 574684

*Down Payment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago’s website at www.fhlbc.com for complete requirements. “Down Payment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.

**Household income and other restrictions apply. Applicants must have an annual household income at or below 80% of the HUD median income in the county in which the property is located. This figure will be adjusted based on household size. To find out the HUD income limits in your county, visit the HUD website.

IAACU is an Equal Housing Lender: UNDER THE FEDERAL FAIR HOUSING ACT IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP,OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18), TO: Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or deny any loan secured by a dwelling; or discriminate in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.

 

 

This is not an application for mortgage.  Mortgage prequalification helps to determine if you meet the minimum requirements for a loan and how much home you can afford.  If the qualifications are met for the purchase price and loan terms you have listed you will be presented a pre-approval letter.  If you’re confident in your finances and are ready to apply now, you should complete a full application instead.

Continue to Pre-Qualify Now