IHDA Homeownership Programs Matrix
Provides basic parameters of current IHDA Homeownership programs. Conventional = FNMA HFA preferred ONLY. All programs subject to change without notice. Regulatory agency rules apply to all programs. Revised July 2017.
Below 80% AMI Limits Effective 5/1/2017
These “Below 80% AMI” Income Limits are to be used for any loan committed through IHDA on or after 5/1/2017.
General Income and Purchase Price Limits Effective 8/1/2016
Use these limits to determine if the buyer qualifies for the IHDA Homeownership program for any loan committed through IHDA on or after 8/1/2016.
IHDA Homeownership Procedural Guide
Procedural guide for the IHDA Homeownership program. Revised July 2017.
A guide to the MITAS system, a web based application that allows IHDA’s lender network to reserve loans. Revised June 2017.
A guide to explain the federal recapture tax associated with IHDA’s mortgage revenue bond programs.
Document Uploading and Data Verification Guide
A guide for Uploading Documents to the MITAS system and verifying loan level information. Revised April 2015.
Letter to lender as clarification of Illinois Housing Development Authority’s position as related to TILA/RESPA Integrated Disclosure rule. Dated October 2, 2015
Lender Annual Recertification Form
Form to be completed by the Lender and submitted to LenderRelations@IHDA.org no later than March 31st of each Calendar Year.
Customizable Flyer for IHDA Loan Officers to promote the I-Refi program.
Flyer for IHDA Loan Officers and Realtors to promote the 1stHomeIllinois loan program.
Editable flyer for IHDA Loan Officers and Realtors to promote the @HomeIllinois mortgage program.
IHDA Homeownership Newsletters
Archived newsletters for lenders that provide important changes to the IHDA Single Family Homeownership Program.
I-Refi Frequently Asked Questions
A list of the most Frequently Asked Questions for the I-Refi program.
I-Refi Document Set including Pre-Close and Post-Close items. Reminder that IHDA must approve the loan prior to close.
To be used in both qualifying a household and determining the amount of assistance for IHDA’s I-Refi Program.
Homeownership Income Calculator Effective 5/1/2017
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 5/1/2017.
Homeownership Income Calculator Effective 8/1/2016
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 8/1/2016.
I-Refi Pre-Close Submission Checklist
Checklist that provides the documentation that must be submitted prior to closing. Requires e-signature (it will prompt you to save a signed copy). Please include in IHDA underwriting upload.
Explanation and Borrower Authorization Form
Mandatory release form for all IHDA transactions; loan will not be purchased until form is completed and signed by borrower and co-borrower with date of signature. Updated November 2016.
Certification required to be completed by Borrower prior to close. Updated November 2016.
For use only when borrower not required to file federal tax return.
Lender Tax Code Compliance Certification
Lender must sign certification to certify compliance with tax code. Updated November 2016
The Borrower Affidavit must be executed by the Borrower(s) (and non-borrowing spouse waiving homestead) and duly notarized.
The mortgage rider is attached to the first mortgage of any IHDA Homeownership loan product. It must be recorded with the first mortgage.
HHF Dodd Frank Certification (I-Refi)
HHF Dodd Frank Certification (I-Refi) must be executed by the borrower(s) and submitted with application.
I-Refi Post-Close Submission Checklist
Documents listed on this checklist must be present on final upload.
IHDA HFA Loan Delivery (Upload) Checklist
Lists required documents to be uploaded MITAS; mirrors US Bank HFA division checklist and includes IHDA specific requirements, such as 3 years tax returns, IHDA documents, etc. NOTE: this checklist contains fillable fields. Please download the file to your desktop and use Adobe Reader to fill out the form. Updated May 2017.
1stHomeIllinois (with DPA) Combined Document Set
1stHomeIllinois Document Set – 1stMortgage with Down Payment Assistance (DPA) for first time homebuyers only or those exempt.
Homeownership Income Calculator Effective 5/1/2017
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 5/1/2017.
Homeownership Income Calculator Effective 8/1/2016
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 8/1/2016.
HHF Summary Disclosure of Terms (1stHomeIllinois-018)
1stHomeIllinois down payment assistance program summary disclosure of loan terms.
HHF Dodd Frank Certification (1stHomeIllinois-017)
HHF Dodd Frank Certification (1stHomeIllinois) must be executed by the borrower(s) and submitted with application.
Explanation and Borrower Authorization Form (HO-002)
Mandatory release form for all IHDA transactions; loan will not be purchased until form is completed and signed by borrower and co-borrower with date of signature. Updated November 2016.
Document must be completed and signed by Buyer prior to close, with signature notarized for use with IHDA Homeownership Programs. Updated November 2016.
Document must be completed and signed by Seller prior to close, with signature notarized for use with IHDA Homeownership Programs.
Seller’s Affidavit – HUD Sale (HO-028HUD)
Document must be completed and signed by HUD as Seller prior to close, with signature notarized prior to close and reaffirmed (and re-notarized) on or after close and is for use with IHDA Homeownership Programs.
Seller Affidavit for FNMA transactions (HO-028FNMA)
Document must be completed and signed by FNMA as seller, and notarized prior to close and reaffirmed (and re-notarized) on or after close
IHDA Income Certification (HO-007)
Certification required to be completed by Borrower prior to close. Updated November 2016.
For use only when borrower not required to file federal tax return.
MRB Initial Recapture Notice (Pre-Close/HO-034)
This form explains IHDA’s recapture and reimbursement policy. To be signed prior to close at application.
This form is required for first-time homebuyers who are opting out of an MCC.
Lender Tax Code Compliance Certification (HO-004)
Lender must sign certification to certify compliance with tax code.
IHDA Submission Cover and Data Summary (HO-001)
This form is must be fully completed and included with original IHDA documents as listed.
The mortgage rider is attached to the first mortgage of any IHDA Homeownership loan product. It must be recorded with the first mortgage.
Servicing Letter (1stHomeIllinois-016)
Servicing Letter for 1stHomeIllinois Down Payment Assistance (DPA) second mortgage to be signed by borrower(s) in acknowledgement.
1stHomeIllinois 2nd Note (1stHomeIllinois-015)
2nd Note to be used for all 1stHome Illinois loans utilizing the $7,500 DPA.
1stHomeIllinois Second Mortgage (1stHomeIllinois-014)
This mortgage must be used on all 1stHomeIllinois loans with down payment assistance.
MRB Recapture Notice to Mortgagors (HO-35)
Federal Recapture Document explaining maximum Federal Recapture Tax. To be signed at close.
FHA Down Payment Award Letter (HO-37 FHA)
Award letter used for all FHA loans that must be signed at Close.
FHA Down Payment Commitment Letter (HO-038 FHA)
Commitment Letter used for all FHA loans.
Cover page for the 1stHomeIllinois combined Pre-Closing and Closing Document Set.
IHDA HFA Loan Delivery (Upload) Checklist
Lists required documents to be uploaded MITAS; mirrors US Bank HFA division checklist and includes IHDA specific requirements, such as 3 years tax returns, IHDA documents, etc. NOTE: this checklist contains fillable fields. Please download the file to your desktop and use Adobe Reader to fill out the form. Updated May 2017.
@HomeIllinois (No DPA/No MCC) – Combined Document Set for First and Non-First Time Homebuyer
1st Mortgage, with no Down Payment Assistance (DPA) and no Mortgage Credit Certificate (MCC) for first and non-first time homebuyers.
@HomeIllinois (with DPA/No MCC) – Combined Document Set for First and Non-First Time Homebuyer
1st Mortgage, with monthly payment on Down Payment Assistance (DPA) and no Mortgage Credit Certificate (MCC) for first and non-first time homebuyers.
@HOMEIllinois Duo (No DPA/with MCC) – Combined Document Set for First Time Homebuyer
1st Mortgage, with no Down Payment Assistance (DPA) and with Mortgage Credit Certificate (MCC) for first time homebuyers.
@HomeIllinois Trio (with DPA/with MCC) – Combined Document Set for First Time Homebuyer
1st Mortgage, with monthly payment on Down Payment Assistance (DPA) and with Mortgage Credit Certificate (MCC) for first time homebuyers.
Homeownership Income Calculator Effective 5/1/2017
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 5/1/2017.
Homeownership Income Calculator Effective 8/1/2016
The Income Calculator used to calculate Compliance Income for IHDA’s Homeownership Programs. This calculator must be used on any loan reserved on or after 8/1/2016.
Explanation and Borrower Authorization Form (HO-002)
Mandatory release form for all IHDA transactions; loan will not be purchased until form is completed and signed by borrower and co-borrower with date of signature. Updated November 2016.
Document must be completed and signed by Buyer prior to close, with signature notarized for use with IHDA Homeownership Programs. Updated November 2016.
Document must be completed and signed by Seller prior to close, with signature notarized for use with IHDA Homeownership Programs.
Seller’s Affidavit – HUD Sale (HO-028HUD)
Document must be completed and signed by HUD as Seller prior to close, with signature notarized prior to close and reaffirmed (and re-notarized) on or after close and is for use with IHDA Homeownership Programs.
Seller Affidavit for FNMA transactions (HO-028FNMA)
Document must be completed and signed by FNMA as seller, and notarized prior to close and reaffirmed (and re-notarized) on or after close
IHDA Income Certification (HO-007)
Certification required to be completed by Borrower prior to close. Updated November 2016.
For use only when borrower not required to file federal tax return.
MRB Initial Recapture Notice (Pre-Close)
This form explains IHDA’s recapture and reimbursement policy. To be signed prior to close at application.
This form is required for first-time homebuyers who are opting out of an MCC.
Lender Tax Code Compliance Certification (HO-004)
Lender must sign certification to certify compliance with tax code.
IHDA Submission Cover and Data Summary (HO-001)
This form is must be fully completed and included with original IHDA documents as listed.
Mortgage Rider (Attached to First Mortgage/HO-008)
The mortgage rider is attached to the first mortgage of any IHDA Homeownership loan product. It must be recorded with the first mortgage.
@HomeIllinois 2nd Payment Letter (@HomeIllinois-016)
Payment letter for @HomeIllinois Down Payment Assistance (DPA) second mortgage to be signed by borrower(s) in acknowledgement. Updated November 2016
@HomeIllinois 2nd Note with repayment (@HomeIllinois-015)
Down Payment Assistance (DPA) second note for all loans committed on or after June 1, 2015 or for loans above 80% AMI received prior to June 1, 2015. Updated November 2016.
@HomeIllinois Second Mortgage (@HomeIllinois-014)
This mortgage must be used on all @HomeIllinois loans with down payment assistance.
MRB Recapture Notice (To be used on loans that Closed on or after 8/1/2016)
Federal Recapture Document explaining maximum Federal Recapture Tax. To be signed at close.
FHA Down Payment Award Letter (HO-037 FHA)
Award letter used for all FHA loans that must be signed at close.
FHA Down Payment Commitment Letter (HO-038 FHA)
Commitment Letter used for all FHA loans that must be signed at close.
MCC-25 Informational Acknowledgement
This form explains the MCC program, and must be completed by borrowers prior to closing.
MCC-26 Buyer Application Affidavit
This form is completed by the buyer, and lists the guidelines of the program.
For use only when borrower not required to file federal tax return.
This form is completed by the seller, and lists the guidelines of the program.
This form is completed when HUD is the seller, and lists the guidelines of the program.
MCC-29 Lender Initial Certification
This form explains the lender’s responsibility in issuing the MCC.
MCC Initial Recapture Notice (Pre-Close)
This form explains IHDA’s MCC recapture policy. To be signed prior to close at application.
MCC Income and Purchase Price Limits
Use these limits to determine if the buyer qualifies for first-time home buyers choosing to apply for a MCC.
The buyer completes this form at or after closing. Any changes that have occurred since IHDA approval must be listed.
MCC-33 Lender Closing Certificate
The lender completes this form at or after closing. Any changes that have occurred since IHDA approval must be listed.
Federal Recapture Document explaining maximum Federal Recapture Tax for borrowers taking a Mortgage Credit Certificate. To be signed prior to close.
MCC-35 Recapture Notice to Mortgagors
Notice to mortgagor of maximum recapture tax and of method to compute recapture tax on sale of home.
This form must be attached to MCC fee check and submitted with check to IHDA’s lockbox in payment of MCC fee.
