Finally Home (formerly known as Our Own Home) was established in 2002 to help Illinois residents buy a home or keep their existing homes from going into foreclosure. Since that time, over $35 million in loans to more than 450 families have been guaranteed.

Finally Home is a free program that helps borrowers who cannot obtain conventional, sustainable mortgages from credible lenders because of factors such as bruised credit or a high debt-to-income ratio. Additionally, the program may help borrowers refinance a mortgage.

The requirements and directions on how to apply for our mortgage guarantee are listed below.

Program Eligibility for Purchase or Refinance:

  • Your combined household income may not exceed 150 percent of U.S. Department of Housing and Urban Development's (HUD) median family income for the area in which your home is located. This limit is based on the number of people in your home and is updated annually. See income limits here.
  • You must be an Illinois resident and documented Illinois income tax payer.
  • The home must be a one to two unit owner occupied property in Illinois that will serve as your primary residence.
  • The purchase price of your home cannot exceed  the conforming loan size limits as established by the Federal National Mortgage Association. This figure is updated annually. See the home value limits here.
  • You must be unable to meet your lender’s conventional mortgage guidelines. Your lender will make this determination when you apply for your mortgage.
  • Contribute at least 3.5% of down payment
  • Fulfill rest of your lender's guidelines


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