Getting an IHDA Loan

Buying a home can be an exciting and intimidating process. With an IHDA loan, we strive to make the process as streamlined as possible so you can achieve your goal of homeownership. In the video below, you will see how easy the IHDA loan process can be and how we helped a family achieve the dream of homeownership by purchasing their first home.

 

 

IHDA Loan Program:

 

Whether you are a first-time homebuyer, a repeat buyer or simply looking to refinance, @HomeIllinois is the product for you. @HomeIllinois is a 30-year, fixed-rate mortgage with a variety of options so you can customize the product to fit your needs.

 

First Time Buyer

Congratulations on the decision to buy your first home!  With interest rates at historical lows and rents at an all-time high, there’s no better time to buy a home than now. 

The @HomeIllinois mortgage is a safe, 30-year, fixed rate mortgage.  That means your interest rate will never change.  Are you concerned about saving for the down payment?  With @HomeIllinois, the buyer contribution is $1,000 or 1 percent of the purchase price, whichever is greater.  So for as little as $1,000 out of pocket, you can get into your first home. 

@HomeIllinois is a 30-year fixed rate mortgage with a variety of options to choose from.  The options you choose will determine the interest rate for your loan. 

Options include:

  • $5,000 down payment or closing cost assistance
  • Federal tax credit certificate
  • Lender paid mortgage insurance
  • Choice of FHA, VA, USDA or Conventional loan type

Requirements:

  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Meet the income and purchase price limits
  • Meet the credit requirements
  • Live in the home as your primary residence
  • Complete homeownership counseling (online and in-person options available)

Have additional questions?  Visit the FAQ page of our @HomeIllinois website.

Ready to get started?  Choose a qualified lender from IHDA’s network and they will guide you through the quick and easy process.  Find a lender today! 

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Repeat Buyer

Are you looking to upgrade, downsize or simply change zip codes?  The @HomeIllinois mortgage is the mortgage for you.  For the first time ever, IHDA is offering $5,000 in down payment or closing cost assistance to repeat buyers.  With interest rates at historical lows, there’s no better time to buy your next home than now. 

The @HomeIllinois mortgage is a safe, 30-year, fixed rate mortgage.  That means your interest rate will never change.  Are you concerned about saving for the down payment?  With @HomeIllinois, the buyer contribution is $1,000 or 1 percent of the purchase price, whichever is greater.  So for as little as $1,000 out of pocket, you can get into your next home. 

@HomeIllinois is a 30-year fixed rate mortgage with a variety of options to choose from.  The options you choose will determine the interest rate for your loan. 

 

Options include:

  • $5,000 down payment or closing cost assistance
  • Lender paid mortgage insurance
  • Choice of FHA, VA, USDA or Conventional loan type

Requirements:

  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Meet the income and purchase price limits
  • Meet the credit requirements
  • Live in the home as your primary residence
  • Complete homeownership counseling (online and in-person options available)

Have additional questions?  Visit the FAQ page of our @HomeIllinois website

Ready to get started?  Choose a qualified lender from IHDA’s network and they will guide you through the quick and easy process.  Find a lender today!

 

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Refinance

With interest rates at historical lows, there’s no better time to refinance than now.  The @HomeIllinois mortgage is a safe, 30-year, fixed rate mortgage.  That means your interest rate will never change.  You can choose an FHA, VA, USDA or Conventional loan type, whichever is best for you.      

Requirements:

  • Meet the income and purchase price limits
  • Meet the credit requirements
  • Live in the home as your primary residence
  • Complete homeownership counseling (online and in-person options available)

Have additional questions?  Visit the FAQ page of our @HomeIllinois website

Ready to get started?  Choose a qualified lender from IHDA’s network and they will guide you through the quick and easy process.  Find a lender today! 

 

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