City of Aurora Program Highlights

City of Aurora, Illinois Assist | At-A-Glance

City of Aurora, Illinois, Assist | At-A-Glance

AVAILABLE PROGRAMS Assist Homeownership Program
ELLIGIBLE AREA Eligible Area
ELIGIBLE BORROWER(S) No first-time buyer requirement
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Price Limits
TIMELINE REQUIREMENTS 70 days from Reservation to Loan Purchase. Underwriter Certification within 15 days of reservation.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Not permitted.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

Today’s Rates & Offerings [ Business Days 9:00am – 9:00pm CT ]

City of Aurora, Illinois, Assist | Rates & Offerings

FREDDIE MAC 80% AMI & OVER 80% AMI

Illinois Assist Homeownership Program


Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits (Borrower’s with income at or below 80% AMI, as determined by Freddie Mac, receive reduced mortgage insurance)
  • Maximum Purchase Price Limits
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 30 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a non-amortizing 3-year forgivable second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Eligible area: We will link to the eligible areas on the web page
Offering FICO DPA Lock Rate
Freddie Mac 80% AMI 640 0% 7.000%
3% n/a
4% n/a
Freddie Mac OVER 80% AMI 640 1% n/a
2% n/a
3% n/a