Homeownership Resource Center

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 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)

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.

Commitment/Reservation Guide

A guide to the MITAS system, a web based application that allows IHDA’s lender network to reserve loans. Revised June 2017.

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.

Zero Income Certification

Form to be completed the borrower to verify zero income for a period of time.

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.

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.

@HomeIllinois Editable Flyer

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 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 9/1/2017

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 9/1/2017.

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.

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.

Income Tax Affidavit 

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

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.

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 9/1/2017

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 9/1/2017.

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.

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.

Borrower Affidavit (HO-12)

Document must be completed and signed by Buyer prior to close, with signature notarized for use with IHDA Homeownership Programs. Updated November 2016.

Seller’s Affidavit (HO-028)

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.

Income Tax Affidavit (HO-27)

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.

MCC Opt Out (HO-24)

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 (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.

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-035) – Effective on loans that close on or after 9/1/2017

Federal Recapture Document explaining maximum Federal Recapture Tax. To be signed at close. Effective on loans that close on or after 9/1/2017.

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.

1stHomeIllinois Cover Page

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 9/1/2017

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 9/1/2017.

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.

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.

Borrower Affidavit (HO-012)

Document must be completed and signed by Buyer prior to close, with signature notarized for use with IHDA Homeownership Programs. Updated November 2016.

Seller’s Affidavit (HO-028)

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.

Income Tax Affidavit (HO-027)

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.

MCC Opt Out (HO-24)

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 Mortgagors (HO-35) – Effective on loans that close on or after 9/1/2017

Federal Recapture Document explaining maximum Federal Recapture Tax. To be signed at close. Effective on loans that close on or after 9/1/2017.

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.

MCC-27 Income Tax Affidavit

For use only when borrower not required to file federal tax return.

MCC-28 Seller Affidavit

This form is completed by the seller, and lists the guidelines of the program.

MCC-28 HUD Seller Affidavit

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 Effective 9/1/2017

Use these limits to determine if the buyer qualifies for first-time home buyers choosing to apply for a MCC. These limits are effective for MCC reserved on or after 9/1/2017

MCC Income and Purchase Price Limits Effective 8/1/2016

Use these limits to determine if the buyer qualifies for first-time home buyers choosing to apply for a MCC. These limits are effective for MCC reserved on or after 8/1/2016

MCC-32 Closing Affidavit

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.

MCC-34 Initial Recapture

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 – Effective on loans that close on or after 9/1/2017

Federal Recapture Document explaining maximum Federal Recapture Tax for borrowers taking a Mortgage Credit Certificate. To be signed at close. Effective on loans that close on or after 9/1/2017.

MCC-35 Recapture Notice to Mortgagors – Effective on loans that closed on or after 8/1/2016

Notice to mortgagor of maximum recapture tax and of method to compute recapture tax on sale of home. To be signed at close. Effective on loans that close on or after 8/1/2016.

MCC-36 Transmittal Fee Form

This form must be attached to MCC fee check and submitted with check to IHDA’s lockbox in payment of MCC fee.

CCA Training

Provides a detailed presentation on the CCA Grant.

CCA Guide

Program overview for the Closing Cost Assistance Grant (CCA Grant).  Provides delivery/timing information on CCA reservations, instruction on how reserve and  household income limits for eligibility.

CCA Grant Fact Sheet

Summary document about the CCA Grant.