Home Buyer Grant Information

Marquette Bank Affordable Housing Foundation Grant

• Income Requirement: Total household income is less than 80% of the Area Median Income for your county. 
• Geographic Requirement: Purchasing a property within one of the 1,100+ low, moderate or middle income census tracts within Marquette Bank’s assessment area (COOK, WILL and DuPage).
  • Qualify for a $2,000 grant when you buy a property in a middle income census tract.​​
  • Qualify for a $4,500 grant when you buy a property in a moderate income census tract
  • Qualify for a $7,500 grant when you buy a property in a low income census tract
• Must be a first-time home buyer and the grant must be used toward the purchase of your owner-occupied primary residence: single-family home, two flat, condo or townhouse.
• Assistance must be used towards down payment and closing costs.
• Additional restrictions may apply, contact a Marquette Bank Mortgage Specialist today.

• Highlights:
  • 4% of the purchase price up to $6,000 in assistance for down payment & closing costs, forgiven monthly over 10 years – it’s a gift that does not have to be repaid
  • Additional requirements apply.

• Highlights:
  • 5% of the purchase price up to $7,500 in assistance for down payment & closing costs offered as an interest-free loan, deferred for the life of your mortgage – you don’t need to repay until you sell your house, refinance, or pay off your mortgage
  • Additional requirements apply.

• Highlights:
  • 10% of the purchase price up to $10,000 in assistance for down payment & closing costs offered as an interest-free loan – repaid monthly over a 10 year period
  • Additional requirements apply.
• Marquette Bank is an authorized IHDA Lender. Additional restrictions may apply, contact a Marquette Bank Mortgage Specialist today.

Downpayment Plus^® Program

• Program offered by the Federal Home Loan Bank of Chicago
• $6,000 assistance for down payment and closing costs.
• Home buyers must:
  • Meet income eligibility requirements.
  • Contribute at least $1,000 to the purchase of the home
  • Participate in homebuyer and financial literacy counseling
  • Live in the home as your primary residence
• Additional restrictions may apply, contact a Marquette Bank Mortgage Specialist today.