MMRP Purchase Assistance Grant

The MMRP Purchase Assistance Grant provides up to $15,000 in down payment assistance for the purchase of a home in one of the City of Chicago’s 11 Micro Market Recovery Program (MMRP) Areas.

To qualify for a MMRP Purchase Assistance Grant:

• You must be a first time homebuyer or not owned a home in the previous three years.
• You must plan to live in the home you are purchasing.
• Homes must be single family (up to 4-unit) homes or a condominium.
• You must have a purchase contract signed by both parties and a pre-approval from a lender
• The home must be located in one of the City of Chicago’s 11 MMRP Areas – Click here to see if the home you are looking to purchase is located in an MMRP Area.
• Meet household income requirements. See income eligibility chart below.
• Attend a HUD certified 8-hour in-person or on-line Home Buyer Workshop.
• If purchasing a 2-4 unit property, attend a Landlord Training that includes information on the Cook County Landlords Ordinance.
• You can pair the grant with either a Conventional Loan or FHA financing.

MMRP Purchase Assistance Grants are available to low and moderate-income households earning up to 140% of the Area Median Income (AMI) for the Chicago Metropolitan Area as determined by the U.S. Department of Housing and Urban Development towards home purchase using a conventional loan and for households earning up to 115% of AMI for purchase using an FHA loan.

Please see table below to determine if you meet the income eligibility requirement. Household size and income will be verified by using tax returns and other financial documents during the application process. Please refer to the list of required documents you will need to complete the application process.

If you are not sure about your income eligibility, please call NHS Client Services at 773-329-4111 or email Grants@nhschicago.org.

(Area Median Income (AMI) for the Chicago Metropolitan Area effective as of April 18, 2022, per the U.S. Department of Housing and Urban Development.)

After you check your address and complete the on-line application, you will receive an email with a link to our NLS connect portal and instructions for uploading documents.

Required documents to qualify:

Identification:

• Property buyer’s Illinois drivers’ license or state ID. Please include licenses for ALL buyers.

Proof of Income:

• Two most recent years (2020 & 2021) of Federal Income Tax Returns with all schedules attached for all household members 18 years of age and older. Illinois State Tax Returns are NOT needed.
• Two most recent years (2020 & 2021) W-2 statements for all household members 18 years of age or older.
• Three most recent (past 30-days) paystubs for all household members 18 years of age or older.
• 2022 Social Security award letter showing the MONTHLY amount awarded for all household members 18 years of age or older that receive Social Security income.
• 2022 Pension Statement showing the MONTHLY amount awarded for all household members 18 years of age or older that receive pension income.
• Notarized letter of no income certifying that there was no income or unemployment income for any applicable household members 18 years of age or older. Letter must be signed by the household member declaring no income.
• Notarized letter if you do not file Federal Income Tax Returns due to being on a fixed income (i.e., on Social Security and/or a pension) for all household members 18 years of age or older. Letter must be signed by the household member declaring they do not need to file tax returns.
• 3 most recent months of Bank Statements
• Affidavit Concerning Household Size and Income (please download from the NLS Connect portal, print, complete, sign, and upload the completed form)

Home Purchase Documentation:

• Executed Purchase Sales Contract (signed by borrower & seller) with copy of Earnest Money Deposit Check ($1000.00 for Conventional & $500.00 for FHA Loans)
• Lender Pre-Approval Letter
• Home Inspections, Construction Bids and Specifications that you have presented to your Lender (if any)

Training Certificates:

• Homebuyer Education Certificate
• Landlord Training Certificate ( if property being purchased has 2 or more units)

Documents Required Prior to Closing (First Mortgage Lender Documents and Appraisal):

• Final 1003 Uniform Residential Loan Application
• 1008 – Transmittal Summary
• Title Commitment
• Loan Estimate (must reflect zero cash at closing)
• Lender Commitment Letter
• Closing Disclosure
• Appraisal

If you are not able to provide the documents in the first list electronically and upload them to your NLS Connect Portal Account, please visit an NHS office near you, email Grants@nhschicago.org (please include the name of the grant in the subject line), or call our Client Services team at (773) 329-4111 for further assistance.

Please email our Grants Team at Grants@nhschicago.org or call NHS Client Services at 773-329-4111.

This grant program is not accepting any new applications at this time.