IHDA offers REALTORS® valuable resources for clients

A woman who is buying her first home

First-time buyers could benefit from mortgage programs offered by the Illinois Housing Development Authority. (Bigstock Images)

The Illinois Housing Development Authority (IHDA) offers a list of “top performing” lenders in Illinois as well as single-family mortgage programs that can help homebuyers with good credit but without the means for down payments.

To get the details about the 1st HomeIllinois program and the @HomeIllinois mortgage program, as well as the information about participating lenders, REALTORS® can visit the IHDA site’s “Information for Realtors” page.

IHDAFor example, the site says 1st HomeIllinois program provides:

  • $7,500 cash assistance for down payments and closing costs;
  • secure 30-year fixed-rate mortgages at competitive rates; and
  • choices of loan types (conventional, VA, USDA or FHA).

The @HomeIllinois program offers a 30-year fixed rate mortgage with options for:

  • $5,000 down payments or closing assistance for buyers;
  • lender-paid mortgage insurance for buyers; and
  • federal tax credit certificates for first-time buyers.

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