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.
- $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.