Low Income Home Loans | ILLINOIS HOUSING DEVELOPMENT AUTHORITY - Homebuyers Assistance Programs
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
Services
Date of Last Formal Update
08/14/2025
Data provided by
Lake County 211
Physical Address
111 East Wacker Drive, Suite 1000, Chicago, IL 60601
Hours
Service Hours Monday: 8:30 AM - 5:00 PM Tuesday: 8:30 AM - 5:00 PM Wednesday: 8:30 AM - 5:00 PM Thursday: 8:30 AM - 5:00 PM Friday: 8:30 AM - 5:00 PM
Website
https://www.ihdamortgage.org
Application 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
Fee
No fee
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
Service area
IL
Agency info
ILLINOIS HOUSING DEVELOPMENT AUTHORITY
Government agency financing the creation and preservation of affordable housing in the State of Illinois.