IHDA offers down payment assistance to homebuyers
Illinois Housing Development Authority; please share with your communities.
Up to $10,000 in Down Payment Assistance Now Available Statewide!
The new IHDA Mortgage Access Programs are now available! These new homeownership programs offer three down payment assistance options designed to help first-time and repeat homebuyers throughout Illinois. Available in every county of the state, the program offers a 30-year fixed-rate mortgage and up to $10,000 in down payment assistance to help borrowers purchase a new or existing home.
• Access Forgivable – up to $6,000 in down payment assistance, forgiven monthly over 10 years.
• Access Deferred – up to $7,500 in down payment assistance, provided as an interest-free loan. Payments are deferred for 30 years.
• Access Repayable – up to $10,000 in down payment assistance, provided as an interest-free loan and repaid monthly over a 10 year period.
All three Access program options are available for all mortgage types, including FHA, VA, USDA, and Conventional. Click here for more information.