Skip to main content

Buyer Assisted
Lending Programs

Since 2014, First Northern has partnered with the Illinois Housing Development Authority (IHDA) to offer members specialized homebuyer programs.  These programs are ideal for members wishing to buy a home that need extra flexibility or who have limited funds for down payment and/or closing costs, yet have the financial means to maintain monthly mortgage payments.

Learn More

Unsure if you may qualify for one of these programs?

Contact us at (888) 328-8677, extension 505 or mortgagegroup@fncu.org

  • Ideal for first-time and non-first-time homebuyers
  • Down Payment Assistance Amount: Flat $6,000. Forgiven over 5 years.

Learn More

  • Ideal for first-time and non-first-time homebuyers
  • Down Payment Assistance Amount: Flat $5,000
  • Student Loan Relief Amount: 15% of purchase price up to $40,000

Learn More

  • Ideal for first-time and non-first-time homebuyers
  • Down Payment Assistance Amount: 4% of Purchase Price - up to a max of $6,000.00
  • Monthly Payment: No monthly payment. The 2nd mortgage shall be forgiven pro rata on a monthly basis over a 10-year forgiveness period. (Review Mortgage and Note for full terms.)

Learn More

  • Ideal for first-time and non-first-time homebuyers
  • Down Payment Assistance Amount: 5% of Purchase Price - up to a max of $7,500.00
  • Monthly Payment: No monthly payment due. Full repayment of the 2nd will be due upon the sooner of the maturity date or repayment of the 1st mortgage (including refinance or sale of the property), or other qualifying repayment events. (Review Mortgage and Note for full terms.)

Learn More

  • Ideal for first-time and non-first-time homebuyers
  • Down Payment Assistance Amount: 10% of Purchase Price - up to a max of $10,000
  • Monthly Payment: 2nd Mortgage Amount ÷ 120 months = Monthly Payment Amount (Review Mortgage and Note for full terms.)

Learn More