One of the largest hurdles potential homebuyers have to overcome is coming up with a downpayment. With home prices at near record highs, this challenge is even more significant. At Key Mortgage, we know connecting homebuyers with downpayment assistance programs helps you create more relationships and ultimately sell more homes.

We’re excited to announce another option to help more people achieve the dream of sustainable homeownership: The Cook County Down Payment Assistance Program.

This 30-year fixed-rate program partners with trusted agencies Fannie Mae, Freddie Mac, FHA and VA while offering an unbeatable downpayment option that can provide up to $25,000 to bring the dream of homeownership to reality.

Key highlights include:

• Generous maximum income limits: Higher than the well-known IHDA program, with waivers available in certain census tracts.

• Eligibility for both first-time and repeat homebuyers: Whether it’s their first home or their next, this program is for them.

• 5% purchase price assistance: Receive up to $25,000 to cover downpayment, closing costs, buyer agent compensation or buy down the interest rate

• Fully forgiven in only 60 months: Assistance is forgiven monthly, with full forgiveness after five years.

With so many people getting their preapprovals and information online or through their bank, it’s easy to miss out on these fantastic programs. That’s why it is so important to make sure your clients have the opportunity to speak with a Key Mortgage loan officer as this could be the difference between owning a new home and just dreaming about it. Make use of the Second Look program we are known for and be the hero to your client!