Illinois Housing Development Authority
www.ihda.org
Rod Blagojevich, Governor


The Illinois Housing Development Authority finances the creation and the preservation of affordable housing throughout the state to increase the supply of decent and safe places for people of low or moderate means to live.
 
Announcements

2008 - Home Modification Program Application
The Illinois Affordable Housing Trust Fund Program - 2008 Single Family Application, Home Modification Program for the Elderly and for Persons with Disabilities. Click on the link below to download the application.
(5.13.08)
For more information, see Application
Details »

2008 Home Modification Program - Description and NOFA.
The following outline is the program description and Notice of Funding Availability (NOFA) for this year’s Home Modification Program. Please click on the link below. (This is a 7 page, 49 kb .pdf file)
(5.6.08)
For more information, see Description
Details »

Gov. Blagojevich launches the nation’s largest state rental assistance program to provide long-term housing stability for extremely low-income residents
Governor Rod R. Blagojevich today launched the country’s largest state rental assistance program that will help extremely low-income residents in Illinois achieve long-term housing stability. Once fully operational over the next three years, the Rental Housing Support Program will assist an estimated 4,000 “rent burdened” extremely low-income individuals and families and those with special needs find safe and affordable rental housing through rental subsidies.
(5.2.08)
For more information, see News Release
Details »

Gov. Blagojevich announces expansion of Illinois’ Homeowner Assistance Initiative to help more families access affordable refinancing, avoid foreclosure - Governor pushes new legislation to give homeowners grace period to negotiate with lenders before being sent to foreclosure
Governor Rod R. Blagojevich today announced an expansion of the Illinois Homeowner Assistance Initiative, the nation’s most comprehensive state approach to help struggling homeowners avoid foreclosure. Surrounded by partners from the lending and counseling communities and homeowners who have benefited from the state’s initiative, the Governor announced that four more lenders have joined the Homeowner Assistance Pool, bringing the total amount of refinancing funds available to $310 million. The Governor also announced that he is working with state Sen. Jacqueline Collins (D-Chicago) to introduce legislation that will make sure borrowers are notified when they’re at risk of losing their homes, and given a grace period of up to 60 days to work with counselors on payment or refinancing options before a lender can move to foreclosure.
(3.27.08)
For more information, see News Release
Details »

2008 MAXIMUM INCOME AND RENT LIMITS
IHDA has published the 2008 income and rent limits for its various Multifamily housing programs, effective February 13th, 2008. The 2007 maximum HOME rents are currently included. The new 2008 maximum HOME rents will be provided when they are published by HUD. In addition, new Maximum Income and Rent Limit schedules for the Rental Housing Support Program will be available on IHDA’s web site in the near future.
(3.3.08)
For more information, see Rent and Income Limits
Details »

Gov. Blagojevich announces new Homeowner’s Assistance Initiative, nation’s most comprehensive statewide program to prevent foreclosures
Governor Rod R. Blagojevich today announced the Homeowner’s Assistance Initiative the most comprehensive statewide plan in the nation designed to provide immediate assistance to Illinois homebuyers at risk of losing their homes in the face of the nation’s sub-prime mortgage crisis.
(2.14.08)
For more information, see News Release
Details »

Events and Meetings

HOMEOWNER OUTREACH DAYS!
The Illinois Housing Development Authority is bringing mortgage loan providers, local housing assistance groups and state agencies together in one place to help homeowners who are struggling to pay their mortgages.
(11.8.07)
For more information, see HOMEOWNER OUTREACH DAYS
Details »

2008 Brochure - IHDA SF Implementation
The Illinois Housing Development Authority (IHDA) is providing you with four training opportunities related to the implementation of its HOME-funded housing programs. IHDA recently awarded funding to local governments, which are invited to attend any of these training programs.
(1.7.08)
For more information, see Brochure
Details »

 
The Illinois Housing Development Authority finances the creation and the preservation of affordable housing throughout the state to increase the supply of decent and safe places for people of low or moderate means to live.
 

IHDA Mortgage Rates
For first time homebuyers

6.00% ............ 0 Points
5.85% ............ 1 Point
5.70% ............ 2 Points
5.55% ............ 3 Points
6.35% ............ Closing Cost Assistance is equal to 1% of the Loan Amount.


This is the Standard I-Loan rate +1% increase in the mortgage loan rate. The HELP Program gives the borrower 3% of the Purchase Price for down payment assistance. This program will require a total of a 5% down payment including these funds. It is only available in participating cities.

7.00% ............ IHDA grant of 4.25% of the purchase price.


Loans are at the standard I-Loan rate.

6.00% ............ 0 points
6.35% ............ Closing Cost Assistance is equal to 1% of the Loan Amount.



5.75% ............ 0 points
6.10% ............ Closing Cost Assistance is equal to 1% of the Loan Amount.


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