October data from MRED shows Des Plaines with 1.9 months of supply—technically a seller’s market, but looser than the 1.1 months county-wide. Entry-level inventory under $300k is evaporating, yet move-up buyers finally see choices between $350-$450k. Bungalows built in the 1950s dominate south of Touhy, while 1990s-era two-stories cluster around Lake Opeka. Cash sales account for only 14 % of transactions, so mortgage-backed offers still win when presented correctly.

Price per square foot has risen 6 % annually, but wages in the 60018 zip grew 8 %, keeping affordability in check. Metra’s new schedule added two express trains during rush hour, shaving six minutes to downtown; expect that to firm up prices within a half-mile of the station. If you’re renting near Dee & Oakton, average one-bed rent is $1,550—$250 more than the principal-and-interest payment on a $250k FHA loan with 3.5 % down.

Westfield: North of Golf, east of Mt. Prospect Rd. Split-levels built 1965-1979 trade $280-$340k. Top-rated Ike Frost Elementary keeps values stable; NMHL’s 5 % down conventional covers the whole area.

Lake Opeka: Custom homes with river frontage. Prices $425-$550k. Jumbo loans with 10 % down and no MI through NMHL’s jumbo-flex program.

Oakton Corridor: Post-war ranch and Cape Cod stock. $260-$320k. Perfect for FHA 203(k) renovation loans—add a second bath and gain $40k in equity.

Downtown Des Plaines: New condo builds above Metra. Studios from $185k; two-bed penthouses $385k. We offer 3 % down HomeReady on Fannie-approved buildings and spot approval for the others.

Smart buyers layer programs to cover the 3.5 % FHA down payment and still keep savings intact. Here’s a typical $300,000 purchase:

• City of Des Plaines Grant – $7,500 forgiven after five years
• IHDA @HomeIllinois – $6,000 forgivable second mortgage at 0 % for five years
• NMHL Platinum Credit – $1,500 toward closing when using our escrow company

Total assistance: $15,000, leaving buyer to bring $5,250 down plus roughly $2,000 closing—often paid by seller credit in this market.

Self-employed borrowers who show < $1,000 adjusted net income on Schedule C can substitute 12-month bank statements through NMHL’s Bank-Statement Plus program and still use the same grants above.

Properties are assessed at 33.33 % of market value; the 2022 composite rate for Des Plaines is 9.3744 %. On a $310,000 median home, estimated taxes are $6,200. The City, Park District, Library, and Maine Township each levy separate rates, so a $15k basement finish can raise the bill $130/year.

Appeals: Cook County Board of Review opens every June. Comparable sales within 1.5 miles and closed by January 1 are admissible. NMHL partners with a local appraisal firm that provides a $75 desktop report meeting BOR standards—clients average $340 annual savings.

Exemptions: Owner-occupant (General Homestead) saves $300; Senior Freeze can lop off $1,200 if household income is under $65k. Veterans with 30 %-plus disability receive an additional $5,000 reduction in EAV—worth roughly $150/year.

Most of the city feeds into Maine Township High School District 207—three campuses ranked in Illinois’ top 15 %. Boundaries matter: homes south of Howard and east of Mt. Prospect Rd. attend Maine South (GreatSchools 9), while a sliver north of Oakton zoned to Maine West (GreatSchools 7) trades at a 6 % discount. Elementary pride points are Ike Frost (District 63) and South Park (District 62), both 8-rated.

NMHL’s school-premium analysis shows buyers pay $13 per square foot extra for Maine South access, equal to $35/month on a 30-year loan—small compared with private tuition. If you’re child-free now but plan resale within seven years, staying inside District 207 boundaries protects appreciation.

Credit-Refresh FHA: 580-619 scores OK. We rapid-rescore up to five accounts in 5-7 days; average 38-point lift. Only 3.5 % down required.

VA Advantage: Zero down, no MI, 580 score. NMHL waives the 1 % origination fee for veterans stationed at Great Lakes, Naval Air Station, or former Fort Sheridan.

Bank-Statement Plus: 12 or 24 months of business or personal statements. Loan amounts to $1.2 M with 10 % down. Perfect for restaurant owners on Oakton and consultants working from home.

Portfolio Jumbo-Flex: 10 % down to $715k with no MI. Only one year of tax returns required if self-employed and DTI under 43 %.

Every program comes with our 21-Day Close Guarantee or we credit you $1,000 toward closing—critical when Des Plaines sellers want certainty.