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New to IHDA? -- Start Here
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We're glad you're interested in IHDA's Multifamily Programs and it is our goal that our website can be used as a guide for developers seeking to finance affordable multifamily housing developments across Illinois. IHDA offers a variety of financing resources to help developers of affordable multifamily housing. They include:
Sources of Financing
State of Illinois Affordable Housing Trust Funds
Federal HOME Funds
Federal Housing Tax Credits
State Housing Tax Credits
Direct Loan Multifamily Financing (Risk Share, AMBAC, Bond Financing, etc.)
Preservation Financing
While developers may be eligible to receive financing from more than one of the programs listed above, please be aware that each program has its own specific requirements and underwriting guidelines that must be met prior to funding. Please browse the entire website for a more comprehensive understanding of each of the sources of financing that may be available to developers, as well as instant access to the required comprehensive guidelines, requirements, applications and forms that must be completed for a consideration of funding.
Other Developer Resources
Once a proposal has been submitted to IHDA, the Authority offers two other types of assistance. The first is information to help determine if a development is likely to succeed in the long run, taking into account local demographics and other data. The second area of assistance for developers concerns IHDA's requirements (and how to meet them) during the actual construction of an IHDA-financed development.
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