Homeownership Resource Center

 

 

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IHDA Mortgage All Programs Matrix

Provides basic parameters of current IHDA Homeownership programs. All programs subject to change without notice. Regulatory agency rules apply to all programs.  Updated July 2018.

Below 80% AMI Limits Effective 5/1/2018

These “Below 80% AMI” Income Limits are to be used for any loan committed through IHDA on or after 5/1/2018.

General Income and Purchase Price Limits Effective 7/1/2018

Use these limits to determine if the buyer qualifies for the IHDA Homeownership program for any loan committed through IHDA on or after 7/1/2018. Please note these limits may be different for any loan taking a Mortgage Credit certificate (MCC)

General Income and Purchase Price Limits Effective 9/1/2017

Use these limits to determine if the buyer qualifies for the IHDA Homeownership program for any loan committed through IHDA on or after 9/1/2017. Please note these limits may be different for any loan taking a Mortgage Credit certificate (MCC)

IHDA Mortgage Products Procedural Guide

Procedural guide for IHDA Mortgage Products. Revised August 2018.

Commitment/Reservation Guide

A guide to the MITAS system, a web based application that allows IHDA’s lender network to reserve loans.

Recapture Guide

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.

Access Mortgage Programs Flyer

Flyer for IHDA Loan Officers and Realtors to promote the Access Mortgage loan program.

Access Mortgage Programs Customizable Flyer

Customizable flyer for IHDA Loan Officers and Realtors to promote the Access Mortgage loan program.

I-Refi Customizable Flyer

Customizable flyer for IHDA Loan Officers to promote the I-Refi program.

1stHomeIllinois Flyer

Flyer for IHDA Loan Officers and Realtors to promote the 1stHomeIllinois loan program.

1stHomeIllinois Customizable Flyer

Customizable flyer for IHDA Loan Officers and Realtors to promote the 1stHomeIllinois loan program.

IHDA Homeownership Newsletters

Archived newsletters for lenders that provide important changes to the IHDA Single Family Homeownership Program.

Access Program Fact Sheets

Provides a detailed look at all program information for each Access Program.

IHDA HFA Loan Delivery Checklist

Lists required documents to be uploaded MITAS; mirrors U.S. 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 from the website for each use and use Adobe Reader to fill out the form. Updated July 2018.

 hda000_MortgageLogoForgivable Access 4% Forgivable Combined Doc Set

Access 4% Forgivable – 1stMortgage with Down Payment Assistance (DPA) for first time or non first-time homebuyers throughout Illinois. Please download the file to your desktop from the website for each use and use Adobe Reader to fill out the form. Updated August 2018.

Access 5% Deferred Combined Document Set

Access 5% Deferred – 1stMortgage with Down Payment Assistance (DPA) for first time or non first-time homebuyers throughout Illinois. Please download the file to your desktop from the website for each use and use Adobe Reader to fill out the form. Updated August 2018.

Access 10% Repayable Combined Document Set

Access 10% Repayable – 1stMortgage with Down Payment Assistance (DPA) for first time or non first-time homebuyers throughout Illinois. Please download the file to your desktop from the website for each use and use Adobe Reader to fill out the form. Updated August 2018.

Homeownership Income Calculator Effective 7/1/2018

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 7/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

Homeownership Income Calculator Effective 5/1/2018

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 5/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

Income Tax Affidavit (HO-027)

For use ONLY when borrower or spouse is NOT required to file federal tax return.

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 RENOTARIZED AT 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 RENOTARIZED AT CLOSE.

 

1stHomeIllinois Program Fact Sheet

Provides a detailed look at all program information for the 1stHomeIllinois Program.

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 from the website for each use and use Adobe Reader to fill out the form. Updated August 2018.

1stHomeIllinois (with DPA) Combined Document Set

1stHomeIllinois Document Set – 1stMortgage with Down Payment Assistance (DPA) for first time homebuyers only or those exemptPlease download the file to your desktop from the website for each use and use Adobe Reader to fill out the form.

Homeownership Income Calculator Effective 7/1/2018

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 7/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

Homeownership Income Calculator Effective 5/1/2018

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 5/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

Income Tax Affidavit (HO-27)

For use ONLY when borrower or spouse is NOT required to file federal tax return.

 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 RENOTARIZED AT 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 RENOTARIZED AT CLOSE.

I-Refi Frequently Asked Questions

A list of the most Frequently Asked Questions for the I-Refi program. 

I-Refi Combined Document Set

I-Refi Document Set including Pre-Close and Post-Close items. Reminder that IHDA must approve the loan prior to close.

I-Refi Eligibility Calculator

To be used in both qualifying a household and determining the amount of assistance for IHDA’s I-Refi Program.

Homeownership Income Calculator Effective 7/1/2018

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 7/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

Homeownership Income Calculator Effective 5/1/2018

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 5/1/2018. Please do not save the template to your desktop, always pull a new one from the website. A PowerPoint Training for Income Calculation can be found here.

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.

IHDA Income Certification 

Certification required to be completed by Borrower prior to close. Updated November 2016.

Zero Income Certification

Form to be completed by the borrower or any household member 18 or older to verify zero income for a period of time.

Income Tax Affidavit 

For use only when borrower or spouse is 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

I-Refi Borrower Affidavit 

The Borrower Affidavit must be executed by the Borrower(s) (and non-borrowing spouse waiving homestead) and duly notarized.

Mortgage Rider

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.