AKA:

IHDA Mortgage

Description:

Provides eligible homebuyers up to $10,000 in assistance for down payment and/or closing costs. May be first-time or repeat homebuyers. Must be a qualified single-family home anywhere in the State of Illinois. Offers the following program options:
- Forgivable - offers up to $6000 down payment assistance; no repayment unless sold or refinanced within 10 years
- Deferred - offers up to $7500 down payment assistance with deferred payments once home is sold or refinanced
- Repayable - offers up to $10,000 down payment assistance; monthly repayment required

Eligibility:

- Must be purchasing a primary residence anywhere in the State of Illinois
- Must be a qualified single family dwelling
!€‹- Must have credit score 640 or higher
- Must have income and home purchase price to fall within the current income and purchase price limits
- Must be able to contribute a minimum of 1% of the sale price or $1,000 (whichever is greater) towards the transaction or eligible gift funds (case-by-case)
- Must have debt to income ratio (DTI) be 45% or lower

Languages:

- Spanish
- Interpreter services available

Program Fees:

No fee

Intake Process:

Homebuyers must apply with an approved IHDA Mortgage Lender (visit website for list)

Documents Required:
- Two most-recent paystubs
- Most recent tax return
- Bank statements
- Additional documentation may be required

Contacts

Phone Numbers

Address Listings

Handicap Accessible?

Yes

Wishlist:

None

Volunteer Opportunities:

None

Date of Official Change:

August 14, 2025

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