Pilsen Stay in Place

What is the Pilsen Stay in Place Forgivable Loan?
The Pilsen Stay in Place Forgivable Loan helps prevent displacement and preserve affordable homeownership for low- and moderate-income residents of Pilsen and the broader Lower West Side. The program provides funding for essential repairs to eligible 2–4 unit owner-occupied buildings, ensuring they remain safe, habitable, and affordable for years to come.

How It Works:
• Provides up to $60,000 in assistance for eligible repairs.
• Structured as a 0% interest, 5-year forgivable loan.
• The loan is fully forgiven after 5 years if all program requirements are met.

Who Qualifies?
Applicants must meet the following criteria:
• Location: Property must be within the Pilsen community in Chicago. Check if you are in the qualifying area: View the Target Area Map or use the Single Address lookup .
• Occupancy: Must be owner-occupied and remain so for the full 5-year compliance period.
• Property Type: 2–4 unit residential buildings in need of essential health, safety, or habitability-related repairs.
• Income: Household income up to 120% of Area Median Income (AMI).
View the 2025 AMI Chart
• Credit & Income Review: We will review your credit history and household income to ensure the property is affordable and financially sustainable for you.
• Education Requirement: Completion of a 2 hour session with a TRP Housing Stability counselor. 

What You’ll Need to Apply

• Valid government-issued ID (driver’s license, REAL ID, passport, or ITIN).
• Proof of income (tax returns, W-2s/1099s, recent pay stubs, bank statements, Social Security/pension award letters, etc.).
• Homeownership documents (e.g., current mortgage statement, proof of homeowner’s insurance), with evidence that you have owned the property for at least 10 years.
• Scope of work, including at least three (3) written estimates
• Completed Affidavit Concerning Household Size and Income (provided by TRP)
• Additional documentation may be required depending on your specific situation

How to Apply
1. Click Apply Now to complete the online form.
2. Meet with a member of TRP’s Homeownership Counseling Team.
3. Submit all required documents.
4. Provide a project summary or scope of work that includes at least three written quotes from licensed and bonded contractors.
5. Project review conducted by TRP and Jackson & Green, the program’s construction consulting firm.
6. If approved, receive a Conditional Commitment Letter outlining terms of the forgivable loan.
7. If funding is exhausted, eligible applicants may join the waitlist.
8. Sign a Forgivable Loan Agreement that includes a 5-year occupancy and rental affordability requirement for tenants.
9. Loan is forgiven in full at the end of the 5-year compliance period if all requirements are met.

Frequently Asked Questions:

• How is the loan amount determined?
  Based on the scope of work and benefit to occupants.
• Do I have to repay the loan?
  No, as long as you meet all program requirements for 5 years.
• What happens if I sell or move before 5 years?
  You will be required to repay a prorated portion of the loan.
• What happens if the program runs out of funds?
  A waitlist will be activated.
• Can family members of TRP staff apply?
  Yes, but they must disclose via HADS and cannot be part of the program administration team.

Resources:
Downloadable Checklist
Affidavit Concerning Household Size and Income

Questions or need assistance??
Call us: 312-666-1323
Contact TRP Lending
Visit our office Monday through Friday, 9am to 5pm
1818 S. Paulina St. Chicago, IL 60608.
TRP and/or TRP Lending, LLC reserve the right to request additional information or documentation; to conduct additional review of the applicant and property; and to approve or deny any application.
The information provided is confidential and intended solely for review by The Resurrection Project and its affiliates. It may not be shared, reproduced, or distributed without prior written consent.