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


Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them?

The Illinois Housing Development Authority has information for people who are currently behind the their mortgage payments or will have problems meeting mortgage payments. For more information.
 
Announcements

IHDA announces the 2008 second round of the Rental Housing Support Program RFP process
The Illinois Housing Development Authority (IHDA) released 2008 second round request for proposals (RFP) from local administering agencies to help run the nation’s largest rental assistance program. Illinois’ Rental Housing Support Program will help around 4,000 households each year.
Click Here for more detail regarding the Rental Housing Support Program

(9.2.08)
Details »

Housing and Economic Stimulus Package 2008
Summary of key points concerning HR 3221 (the 2008 Housing and Economic Recovery Act).
(8.13.08)
For more information, see Housing Issues and Policy Information
Details »

Letter to Housing Partners Concerning Singlefamily Trust Fund Financing
Dear Housing Partner, The subprime mortgage crisis is having repercussions for all of us involved in the financing and development of affordable rental housing and homeownership opportunities for low and moderate income households.
(8.12.08)
For more information, see Letter
Details »

Letter to Housing Partners Concerning Multifamily Trust Fund Financing
July 28, 2008 Dear Housing Partner: The on-going volatility in the financial markets is having repercussions for all of us involved in the financing and development of affordable rental housing. One consequence of the crisis has been the reduction of resources available to the Illinois Housing Development Authority (“IHDA”) from the Illinois Affordable Housing Trust Fund (“Trust Fund”).
(7.29.08)
For more information, visit the following website:
Details »

State-funded affordable homes in Jacksonville helps low-income families find housing in their community - Downtown Commons helps the city achieve its revitalization plans
Illinois Housing Development Authority (IHDA) officials today joined the Morgan County Housing Authority and the Jacksonville community to celebrate the completion of 22 newly constructed affordable homes for low-income families. The Downtown Commons development brings much-needed affordable housing to the area. The development also helps the City of Jacksonville achieve its revitalization plans and attract more investment to the neighborhood.
(7.10.08)
For more information, see News Release
Details »

State-funded supportive housing for homeless veterans and people with disabilities opens in Peoria - New Hope Apartments
Blagojevich Administration officials from the Illinois Housing Development Authority (IHDA) and the Illinois Department of Human Services (IDHS) today took part in the official opening of a supportive housing development in Peoria that will help build homes and futures for 79 local homeless veterans and people with mental illness, disabilities, and substance abuse. New Hope Apartments provides a safe place to live while the tenants learn to become self sufficient. The development, sponsored by two local not-for-profit organizations, rehabilitated the former YWCA building, helping the City of Peoria to preserve a historic building.
(6.12.08)
For more information, see News Release
Details »

Events and Meetings

2008 - HOME Program SINGLE FAMILY DESIGN WORKSHOPS
This one-day MANDATORY HOME Design Workshop is designed to provide participants with the information needed to apply successfully for funding under each of the following programs. September 24, 2008 - Springfield
(8.1.08)
For more information, see Application
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

6.75% ............ 0 Points
6.60% ............ 1 Point
6.45% ............ 2 Points
6.30% ............ 3 Points
7.10% ............ 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.

7.75% ............ IHDA grant of 4.25% of the purchase price.


Loans are at the standard I-Loan rate.

6.75% ............ 0 points
7.10% ............ Closing Cost Assistance is equal to 1% of the Loan Amount.



6.50% ............ 0 points
6.85% ............ Closing Cost Assistance is equal to 1% of the Loan Amount.


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