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Up to $10k in Down Payment Assistance for eligible Illinois homebuyers! Learn how IHDA Mortgage can help you!
5% of the purchase price up to $7,500 in 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.
$10,000 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
Downpayment Assistance Available for New & Existing Homebuyers. CHICAGO – As National Homeownership Month comes to a close, the Illinois Housing Development Authority (IHDA) wants to remind individuals that free assistance is available to overcome the financial barriers to owning a home.
Assistance: You will receive 10% of the purchase price up to $10,000 in assistance, which can be used to pay your down payment, closing costs, or both! Loan Type: It is available with conventional, VA, FHA, or USDA loan types.
Under Illinois HFA1, IHDA will provide a 30-year 1st mortgage with a fixed interest rate and $10,000 in down payment and/or closing cost assistance. The down payment assistance is provided as an interest-free 2nd mortgage with payments deferred for 30-years, meaning
A no monthly payment, forgivable down payment assistance loan, no repayment unless sold or refinanced before 10 yr. forgiveness period. Find out how IHDA's downpayment assistance programs can help you! First-time homebuyer and repeat buyer programs. Here is a directory of what we're offering!
In Illinois, to qualify for down payment assistance, you’ll need to secure a first mortgage through IHDA, have a credit score of 640 or higher, maintain a debt-to-income ratio of 50% or less, meet county income and purchase price limits and complete a homebuyer education course.
IHDA Mortgage provides a range of down payment assistance programs for eligible borrowers. Cash assistance maxes out at $10,000 or 10% of the purchase price, whichever is lower. These...
Illinois first-time homebuyer programs and down payment assistance. Through its Access Mortgage program, the Illinois Housing Development Authority (IHDA) provides fixed-rate loans offered...