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Low Income Home Loans | ILLINOIS HOUSING DEVELOPMENT AUTHORITY - Homebuyers Assistance Programs

111 East Wacker Drive, Suite 1000, Chicago, IL 60601

- 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
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
877-456-2656

Voice - Primary Contact Number

https://www.ihdamortgage.org

- Spanish - Interpreter services available

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

No fee

IL

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

Date of Last Formal Update

08/14/2025

Data provided by

Lake County 211

Providing organization

ILLINOIS HOUSING DEVELOPMENT AUTHORITY

Government agency financing the creation and preservation of affordable housing in the State of Illinois.

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