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Robert Burress

Robert Burress
Parade Of Homes
Bartlett, IL 60103

630-335-9940
Contact Me

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First Time Home Buyer Grants

If your credit is good and have a stable job, but lack what’s needed for a down payment, IHDA might be able to help. IHDA’s home buyer programs offer safe, fixed interest loans at affordable rates. IHDA works with more than 165 lenders  across the state to provide access to safe, financing programs that won’t create unnecessary hassles or delays in closing.

As long as you meet the income and purchase limits, have a good credit score, and can make the monthly payments, there’s a good chance we have a program that can help. Specific requirements for each program are included below.

In addition, we are now proud to introduce our Access Mortgage program! Whether your customer is a first-time or repeat home buyer, the Access Mortgage program has a down payment option to meet your needs. Available statewide, each mortgage option comes with an affordable, fixed interest rate and up to $10,000 to assist eligible borrowers with their down payment and closing costs for the purchase of a new or existing home.

 

hda000_MortgageLogoForgivable

Access Forgivable Highlights

  • 4% of the purchase price up to $6,000 cash assistance for down payment & closing costs, forgiven monthly over 10 years – it’s a gift that does not have to be repaid
  • 30-year, fixed rate mortgage with an affordable interest rate
  • Available for all mortgage types, including FHA, VA, USDA and FNMA HFA Preferred
  • Available to first-time and repeat homebuyers statewide

Access Forgivable Requirements

  • Meet the household income and purchase price limits
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible
  • First-Time and Non First-Time Homebuyers are allowed
  • All Illinois counties are eligible
  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Live in the home as primary residence
  • Complete homeownership counseling prior to close (online and in-person options available)

View Marketing Materials

Access Deferred Highlights

  • 5% of the purchase price up to $7,500 cash assistance for down payment & closing costs offered as an interest-free loan, deferred for the life of your mortgage – you don’t need to repay until you sell your house, refinance, or pay off your mortgage
  • 30-year, fixed rate mortgage with an affordable interest rate
  • Available for all mortgage types, including FHA, VA, USDA and FNMA HFA Preferred
  • Available to first-time and repeat homebuyers statewide

Access Deferred Requirements

  • Meet the household income and purchase price limits
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible
  • First-Time and Non First-Time Homebuyers are allowed
  • All Illinois counties are eligible
  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Live in the home as primary residence
  • Complete home ownership counseling prior to close (online and in-person options available)

View Marketing Materials

Access Repayable Highlights

  • 10% of the purchase price up to $10,000 cash assistance for down payment & closing costs offered as an interest-free loan – repaid monthly over a 10 year period
  • 30-year, fixed rate mortgage with an affordable interest rate
  • Available for all mortgage types, including FHA, VA, USDA and FNMA HFA Preferred
  • Available to first-time and repeat homebuyers statewide

Access Repayable Requirements

  • Meet the household income and purchase price limits
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible
  • First-Time and Non First-Time Homebuyers are allowed
  • All Illinois counties are eligible
  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Live in the home as primary residence
  • Complete homeownership counseling prior to close (online and in-person options available)

View Marketing Materials


Counties eligible for 1stHomeIllinois are changing for all new reservations starting January, 1 2019!  Click here for details!

1STHomeIllinois Highlights

1STHomeIllinois offers:

  • $7,500 cash assistance for down payment and closing costs
  • a secure, 30-year fixed-rate mortgage with a competitive interest rate
  • choice of FHA, VA, USDA or Conventional loan type

1STHomeIllinois is tailored for anyone who:

  • hasn’t owned a home in the last three years including first-time homebuyers, and all Veterans
  • is purchasing in the following counties: Cook, Marion, St. Clair, or Winnebago (ELIGIBLE COUNTIES UPDATED AS OF 1/1/2019)

1STHomeIllinois Requirements

  • Buyer must not have owned a home in the last three years or be a first-time buyer or a Veteran (unless the buyer is purchasing in a targeted area)
  • Purchase a one or two unit property within Cook, Marion, St. Clair, or Winnebago counties (ELIGIBLE COUNTIES UPDATED AS OF 1/1/2019)
  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Meet the income and purchase limits
  • Meet the credit requirements
  • Live in the home as your primary residence
  • Complete home ownership counseling (online and in-person options available)
  • Property must be an existing residential dwelling




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Robert Burress | 630-335-9940 | Contact Me
848 West Bartlett Rd - Bartlett, IL 60103
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