For people wanting a home in Illinois to call their own, the Illinois Housing Development Authority wants to help. They’re currently offering up to $10,000 dollars to help people accomplish their dreams of owning a home.
“Every Illinoisan deserves the opportunity to become a homeowner regardless of their zip code,” Illinois Gov. J.B. Pritzker said. Nearly eight percent of home buyers last year utilized the program, according to Housing Development Director Krisitin Faust. The program is available statewide to both first-time and repeat homebuyers.
Eligibility for the IHDA mortgage is based off three criteria:
- Credit profile
- Household income
- Purchase price of the home
Each homebuyer taking part in the program is required to complete homeownership counseling prior to purchase.
“Homeownership helps foster strong communities, create generational wealth, and provide family stability," Faust said. "Everyone in this state deserves the opportunity to buy a home for their families and IHDA is ready to help make that a reality.”
To find participating lenders with IHDA mortgage, click here. If you want more information on the Illinois Housing Development Authority, click here.