Champaign’s market is competitive but not crazy. Median sale price is up 4.1% year-over-year to $195,000, yet still 40% less than nearby Bloomington. Entry-level inventory under $200k absorbs in under 20 days, while move-up homes between $250–350k linger about 45 days—perfect if you need a closing-cost credit. New construction is concentrated in Savoy and west Champaign along Windsor Road; builders are offering $5,000 flex cash and 3–2–1 rate buydowns that NMHL can fold into your loan.

• Average price per sq ft: $115 county-wide, $135 in top school districts
• Typical down payment: 3.5% FHA ($6,825 on median) vs. 20% conventional ($39k)
• Rent vs. buy breakpoint: 26 months—if you plan to stay three years, ownership wins
• Fast pre-approval: NMHL issues fully-underwritten letters in 24 hrs, beating regional average of 72 hrs

If you’re relocating from Chicago, expect 30% more house for the money; a $350k budget buys a 2015-built 4-bed in south Champaign with a two-car garage and sidewalks to Stratton Elementary.

Garden Hills – Tree-lined streets, 1950s brick ranches, walkable to West Side Park. Median $189k. NMHL’s FHA 203(k) loans are popular here; roll $25k for new HVAC and quartz counters into one fixed rate.

Downtown & Campustown Condos – Perfect for U of I grad assistants and med residents. Prices $135–220k. We use Fannie Mae HomeReady at 3% down and count future boarder income—rent the second bedroom to a student for $650.

Savoy – Top schools, new retail plaza, 15 min to Willard Airport. Median $260k. USDA is still available one mile south of the village limit; zero down plus seller-paid closing costs up to 6%.

Midtown Revitalization Zone – City offers 10-year tax freeze on rehabs. NMHL’s CHOICE renovation loan wraps purchase + rehab up to 110% of after-improved value. Clients have turned $140k purchases into $215k appraisals with $35k in improvements.

Illinois Housing Development Authority (IHDA) runs three core products that layer with city grants:

• Access Forgivable: $6,000, 0% interest, forgives 1/36 per month—perfect if you might relocate within U of I in three years
• Access Deferred: $7,500, no monthly payment, due only on sale/refi—good for the physician who’ll upgrade post-residency
• HomeFront: $7,500, forgivable in five years, restricted to essential workers—teachers at Central High automatically qualify

Champaign County also participates in the FHLB Chicago Down-Payment Plus ($5,000 grant) released every April—funds are gone in 72 hrs. NMHL reserves your slot the day we pre-approve you. Combined, we’ve gotten borrowers $19,500 in grants on a $200k purchase—less than $1,000 out-of-pocket covers your 3.5% down and half the closing costs.

Veterans: Use the VA zero-down and still claim the city’s $5,000 Military Relocation Grant if you’re PCS-ing to Chanute Aerospace Museum area.

Big banks say "no"; we find the yes. Our Champaign branch’s most-used programs:

Fresh-Start FHA – 580 score, 3.5% down, accepts one 30-day late in past 12 months. We recently helped a bartender at The Blind Pig who rebuilt from 510 to 585 in 60 days by paying two collections under $500.

Bank-Statement Edge – 12 or 24 months of business deposits, no tax returns, down to 10% down. Average rate only 0.375% above conventional. Popular with Uber drivers hauling students to Champaign’s Willard Airport.

VA IRRRL & Tier-2 – Already have a VA loan at 5.5%? We can streamline you to 5.0% with no appraisal, or use Tier-2 entitlement to buy a duplex near Lincoln Square Mall with zero down and use rental income to qualify.

ITIN Mortgage – 20% down, 660 score. We accept Matrícula Consular and two credit references like NuWay Energy bill. Champaign’s Latino community uses this to buy $150k homes in the Old Town corridor.

Every borrower gets a Credit Path Planner—a free, step-by-step game board to hit 620+ within six months. We pay for your ScoreBoost simulator and track progress monthly.

Champaign County assesses at 33.33% of fair market value and applies a multiplier of roughly 6.06, producing an effective tax rate near 2.00%. On paper, that $195k median home faces a $3,900 annual bill. But assessments lag behind—if you buy in May, the prior assessment may reflect 2021 value. File an appeal every September using your purchase price as comparable evidence; success rates jump to 68% for owner-occupants who attach a recent appraisal.

Exemptions to grab:

• General Homestead: $6,000 assessed value reduction – saves ~$120/yr
• Senior Homestead: Additional $5,000 if 65+ – another $100/yr
• Disabled Veterans: Up to $100,000 reduction – zero tax for many

NMHL’s escrow team automatically applies the homestead exemption the year after you occupy—no forms for you. And if your taxes drop post-appeal, we recast your escrow so the monthly payment shrinks within 60 days, not next year.

Landlord investors: Expect 2.28% effective rate (no owner-occupant exemptions). Still, cash-flow works: a $175k duplex near University rents for $2,100/mo combined, leaving $450 positive after PITI.

Whether you’re targeting a 100-year-old craftsman in West Champaign or a new build in Savoy, the playbook is the same: get pre-approved before you tour. Upload pay stubs, W-2s, and bank statements to our NMHL QuickApp by 10 a.m. and we’ll have a fully-underwritten approval letter back by dinner. Local Realtors know our letters carry weight—last month 86% of our clients won multiple-offer situations versus 52% for generic pre-quals.

Three ways to start:

1. Tap Apply Now and choose the Champaign branch—our loan officer who lives off Kirby Ave will handle you personally.
2. Call (217) 555-LOAN and ask for the Champaign team. We’ll run numbers over the phone and pull credit with your permission.
3. Walk into the Champaign County Realtors Expo—NMHL sponsors a booth every May and October with on-the-spot pre-approvals and $500 closing-cost coupons.

Remember, grants are first-come-first-served. If you wait until July to apply, the IHDA pot may be dry and that free $6,000 disappears. Hit the button, send the docs, and let’s get you keys in time for the first Illini football Saturday.