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ELIGIBILITY REQUIREMENTS:

1. INCOME: Verify that your total household income, which includes all the income of every household member 18 and over, is equal to or less than the designated Area Median Income (AMI) limit for the unit you are interested in and your household size (click here for chart).
2. DEBT: Any debt owed to the City of Chicago (e.g. water bills, parking or red light tickets, etc.) must be paid in full prior to closing on a Housing Trust unit.
3. RESIDENCY: Ensure that you will occupy the home as your principal residence (nine months out of every twelve) for as long as you own the home. Understand that you will not be able to rent out all or part of the home at any time. No AirBNB, VRBO, Craig’s List, or any other short- or long-term lease agreement are permitted. The only exception to this stipulation is for the second unit in a 2-unit building.
4. REAL ESTATE: Understand that if you presently own or hold an interest in any residential real estate, you will need to sell/transfer it prior to closing on a Housing Trust unit. 

Should you meet the stipulations above, CREATE A USER PROFILE HERE which will allow you to submit your full application package online. (Use a desktop or a tablet for optimal view.)

1. Create your EFORMS user profile at https://webapps4.chicago.gov/eforms/user/login
2. Verify your profile via the link in your email
3. Log back into the EFORMS platform to access the Housing Trust application

Be ready to submit the following documents:

1. Income Affidavit Form – required for all household members 18 years and older (Notarization Required)
2. Affidavit of Child Support Compliance – every applicant must complete whether or not they have children (Notarization Required)
3. Housing Trust Orientation Certificate (Register here)
4. Pre-Purchase Certificate from a HUD-Certified Agency
5. Condo Training Certificate (for condos or townhomes which have a Homeowners Association or HOA) – offered in tandem with the Housing Trust Orientation above
6. Landlord Training Certificate (if purchasing a 2-unit building)
7. Mortgage Pre-approval Letter from a Participating Loan Officer
8. Bank Statements – 3 most recent months (checking, savings, IRAs, 401Ks, money market account, etc.)
9. Pay Stubs – 4 most recent
10. Federal Income Tax Returns – 2 most recent years must be SIGNED
11. W2 Forms – 2 most recent years (3 most recent years if self-employed)
12. Social Security Award Letter (most recent, if applicable)
13. Pension Statement (most recent, if applicable)
14. Drivers License or State ID for each applicant/homebuyer

Should more information be required to process your application, we may solicit the following after you have submitted your application package:

1. Verification of Employment
2. Letter of Explanation
3. Dependent Care (i.e. child support court documents, foster care documents, etc.)
4. Divorce Decree or Legal Judgement of Separate Maintenance

Once you have submitted a complete application package, please allow 3 to 5 business days for processing. Staff will contact you via email regarding the determination. You MUST be certified by the Housing Trust in order to execute a purchase contract for one of our units.

Should multiple eligible applicants be interested in the same Housing Trust unit, eligible applications will be prioritized via the Housing Trust Application Process (HTAP). HTAP prioritizes applicants using the following criteria:

1. Income (lower eligible incomes are prioritized)
2. Household Size (larger households are prioritized)
3. Neighborhood (applicants living in either the same community area as the unit or designated community areas which were disparately impacted by the recession of 2008 are prioritized)

Depending on the differential between the quantity of available units and the amount of eligible applicants, the Housing Trust will then conduct either a lottery among the applicants with the highest HTAP scores or a draft to assign units to eligible applicants.

Once you have been certified and made an offer to purchase a unit, forward the following information to chicagohousingtrust@cityofchicago.org:

1. Signed Sales Contract/Purchase Agreement with all Upgrades and Options as soon as it is signed
2. Signed Purchase Contract Rider and Homebuyer Agreement as soon as it is signed
3. Lender’s Loan Application Form 1003 (at least 10 business days before scheduled closing)
4. Lender’s Appraisal (at least 10 business days before the scheduled closing)

Additional Resources:

• • Participating Lenders
  • Applicant Qualifications
  • Recommended Attorneys
  • FAQ Sheet

Questions? Email chicagohousingtrust@cityofchicago.org.