Cook County Down Payment Assistance Program

The Cook County American Dream Downpayment Initiative Program (ADDI) is an interest-free 5 year forgivable loan, secured by a silent second lien. The home buyer will receive 6% of the sale price (or $10,000, whichever is greater), not to exceed $14,999, toward the down payment and closing costs of for the purchase of a home.

To qualify a homebuyer must be a first time home buyer (FTHB), meaning they have not owned a home in the past 36 months. The homebuyer must also attend a HUD-approved housing counseling course and meet the following income limits based upon the size of their family:


Property must be a single family (no multi unit), owner occupied residence. The property must remain the primary residence of the homebuyer for the entire 5 years for the ADDI loan to be forgiven. The loan is due on sale or if owner moves out before the five year period expires. The maximum sales price for ADDI is $275,200.

Home buyers do not apply directly for the program. They would apply with me for a mortgage and I would provide the documentation on behalf of the homebuyer to secure the secondary financing. The ADDI Program needs at least 40 – 45 days to process the loan request so make sure there is ample time on the sales contract to accommodate this. I highly recommend the homebuyer getting a pre-approval before signing a contract to purchase a home – it will make things move more quickly.


I can be reached at 708.473.7688 or BarkerLoans@gmail.com and, as always, my advice is free!

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