HOMEPATH Gift Program

HOMEPATH is a gift program that helps buyers purchase a home with $0 down. It can be used on its own, or income-eligible homebuyers can use HOMEPATH in conjunction with AHC's First-Time Homebuyer Program or Maximum Affordability Mortgage.

How HOMEPATH Works: The AHC works with the seller to provide qualified homebuyers a gift of up to 7% of the property purchase price to apply toward the purchase of a home. Gift funds may be used for downpayment or closing costs.

Better Than Other Programs: HOMEPATH beats out the competition hands down. We offer everything that Nehemiah and AmeriDream do, only with less paperwork and a substantially lower processing fee (compare our $350 fee to their $500).

Income Guidelines: HOMEPATH has no minimum or maximum gross household income requirements.

Education/Counseling Requirements: None, although education is encouraged, particularly for first-time homebuyers.

Home Inspection Requirements: None, but AHC strongly urges all homebuyers to have a home inspection.

Qualify for a Mortgage: The homebuyer must qualify for a mortgage that allows a charitable organization to provide gift funds. Only AHC participating lenders may utilize HOMEPATH.

Property Eligibility: Owner-occupied properties only. Single family and 2-4 units are eligible. Properties must be located in Lake County, Illinois or the surrounding areas (such as southern Wisconsin, northern Cook County, or eastern McHenry County).

Maximum Purchase Price: Maximum purchase price is $359,650 for a single family home, and $533,850 for multi-unit properties.

Fees: There is a $350 processing fee to AHC. This can be paid by the seller outright. Or, it can be rolled into the gift amount and then paid as a closing cost by the buyer. If using the latter option, note that the maximum gift amount is still 7% of the purchase price.