Illinois Down Payment Assistance Programs.
Getting An IHDA Loan
Ready to get started? In the following video, you will see how easy the IHDA loan process is and how we helped a family achieve their dream of homeownership. After watching the video, scroll through our current mortgage programs to see which one is most attractive to you.
Home Buying Programs
1ST Home Illinois
If you are interested in buying a home in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties, 1ST Home Illinois is the product for you. It combines a 30-year fixed rate mortgage with a $7,500 down payment assistance grant. 1ST Home Illinois is tailored for first-time homebuyers, veterans, or anyone who hasn’t owned a home in the last three years.
The 1ST Home Illinois mortgage is a safe, 30-year, fixed rate mortgage. That means your interest rate will never change. Are you concerned about saving for the down payment? 1ST Home Illinois offers a $7,500 down payment assistance grant. Your contribution is limited to $1,000 or 1 percent of the purchase price, whichever is greater. So for as little as $1,000 out of pocket, you can get into your new home.
$7,500 cash grant for down payment and closing costs.
30-year, fixed rate mortgage with a competitive interest rate.
Choice of FHA, VA, USDA or Conventional loan type.
Purchase a one or two unit property in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties
First-time homebuyer, veteran or anyone who has not owned a home in the last three years.
Contribute $1,000 or 1 percent of the purchase price, whichever is greater
Meet the income and purchase price limits
Meet the credit requirements
Live in the home as primary residence
Complete homeownership counseling (online and in-person options available)
Property must be an existing residential dwelling (new construction excluded)
Find IHDA participating lender
to guide you through the quick and easy process. Funds are limited so act today. For more information please visit IHDA website
Illinois Housing Development Authority
401 North Michigan Avenue, Suite 700
Chicago, Illinois 60611
Telephone: (312) 836-5200