First Time Buyers

First-time home buyers in Chicago and Illinois

Buying your first home in Chicagoland comes with a few steps that surprise people, like attorney review, property tax prorations, and municipal inspections. I walk first-time buyers through every step, connect you with lenders who know the assistance programs, and make sure you understand every document before you sign.

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  • Daniel EllingtonLicensed Illinois Real Estate Broker
  • Infiniti PropertiesBrokerage since 1991, Homewood office
  • IL License #475211812Chicagoland and throughout Illinois

Who this is for

Renters ready to own

Turn your rent payment into equity, with a clear plan for your budget and timeline.

Buyers with limited savings

Low-down-payment loans and purchase assistance programs can cover much of what you need upfront.

Future house hackers

Buy a 2-flat or 3-flat as your first home and let rent help pay your mortgage.

How it works

  1. Get pre-approved Learn your budget, loan options, and which assistance programs you qualify for.
  2. Tour and choose See homes that fit your budget, commute, and must-haves.
  3. Offer and attorney review Negotiate the price and terms, then your attorney reviews the contract.
  4. Inspect, appraise, close Inspection, appraisal, final loan approval, and your keys.

What I do for you

  • Introductions to lenders who work with IHDA, Cook County, and City of Chicago programs
  • Plain-English explanations of every contract and disclosure
  • Comparable sales so you don't overpay
  • Help budgeting for taxes, insurance, and closing costs
  • Guidance on municipal inspections and transfer stamps

What's different about buying in Illinois

In the Chicago area, buyers and sellers almost always hire real estate attorneys, and contracts include a short attorney review period. Property taxes are paid a year behind, so you'll receive a credit from the seller at closing for taxes they owe.

Many suburbs require a municipal inspection or transfer stamp before closing. These rules vary by town, so I check them early to keep your closing on schedule.

Common questions

How much do I need to buy my first home?

FHA loans require 3.5% down with a 580+ credit score, and some conventional loans allow 3% down for first-time buyers. Plan for closing costs of roughly 2% to 5% of the price, though assistance programs and seller credits can cover part of your upfront costs.

Am I a first-time buyer if I owned a home before?

Possibly. Most programs define a first-time buyer as someone who hasn't owned a primary residence in the past three years.

What down payment assistance is available?

The Illinois Housing Development Authority (IHDA), Cook County, and the City of Chicago each offer purchase assistance, and some can be combined with FHA or conventional loans. Programs, income limits, and funding change often, so your lender will confirm what you qualify for.

Do I need a homebuyer education course?

Many assistance programs require one. Courses are often online and take a few hours, and they're worth taking even when they aren't required.

How long does it take to buy my first home?

Most financed purchases close about 30 to 45 days after the offer is accepted. Getting pre-approved first is the fastest way to shorten the search.

This page is general information, not legal, tax, or lending advice. Consult a real estate attorney, CPA, or lender about your situation.

Other buyer guides

Condo buyers

Learn more

FHA and VA buyers

Learn more

Relocating to Chicago

Learn more

New construction

Learn more

Foreclosures and as-is

Learn more

House hacking

Learn more

All buyer services

Overview

Ready to buy your first home?

Call or text Daniel directly, or send a message. Most inquiries get a same-day response.

708-625-8788
Infiniti Properties, 2401 183rd St, Homewood, IL 60430
Brokerage 708-206-3000  |  IL License #475211812

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What Our Clients Say About Us

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Daniel Ellington: Chicago’s Best Real Estate Broker
4.8 (19)
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Adam Bevan
Adam Bevan
11 months ago

Dan was an excellent representative for us and I wouldn't hesitate to work with him again

Lorenzo Douglas
Lorenzo Douglas
8 months ago

Daniel has been amazing for me as an out of state investors. Very response, pretty decent comps. He's gone above and beyond for me.

Jared Rowntree
Jared Rowntree
7 months ago

Daniel was absolutely phenomenal during our house hunt and closing. Any time an issue came up, Daniel took it in stride and helped everybody involved to have a smooth process. He is wildly friendly and knowledgeable, and was invaluable to us as First Time Homebuyers; he kept us informed and up to date the second anything changed. I wouldn’t hesitate to hire Daniel again for my next house, and the next ones after that.

Michael Van Kley
Michael Van Kley
4 months ago

Daniel was great. I would use him again.

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