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

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 »

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 »

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

6.75% ............ 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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