Home Buying Programs

Introducing IHDA Mortgage!

Buying a home can be an exciting and intimidating process. With IHDA MORTGAGE we strive to make the process as streamlined as possible so you can achieve your goal of homeownership! Through our network of trusted partners, you will have someone with you every step of the way to help you purchase your home. And by using an IHDA MORTGAGE product, we will ensure that you can afford the home you buy. Our programs offer safe, fixed interest loans at affordable rates. Qualified homebuyers can receive down payment and closing cost assistance.

We are now proud to introduce our Access Mortgage program! Whether you’re a first-time or repeat homebuyer, 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. Homeownership may be closer than you think – take the first step and find the option that’s right for you! Learn more about our new Access Mortgage program now!

 

hda000_MortgageLogoForgivable

  • 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

Eligibility:

  • Household income and purchase price limits apply
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible

  • 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

Eligibility:

  • Household income and purchase price limits apply
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible

 

  • 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

Eligibility:

  • Household income and purchase price limits apply
  • Minimum credit score of 640 is required
  • Both new construction and existing homes are eligible

 

If you are interested in buying a home in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties, 1stHomeIllinois is the product for you.  It combines a 30-year fixed rate mortgage with a $7,500 down payment assistance grant. 1stHomeIllinois is tailored for first-time homebuyers, veterans, or anyone who hasn’t owned a home in the last three years.