THIS INFORMATION IS NOW AVAILABLE ON
IHDAMortgage.org
NEW IHDA ADVANTAGE SUBSIDY (IAS) DOCUMENTS:
Fact sheet regarding the IHDA Advantage Subsidy. January 2020.
Guide detailing the IHDA Advantage Subsidy. January 2020.
PROGRAM MATRIX, INCOME LIMITS, GUIDES & MARKETING MATERIALS:
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 2019.
Below 80% AMI Limits Effective 7/1/2019
These “Below 80% AMI” Income Limits are to be used for any loan committed through IHDA on or after 7/1/2019.
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 8/1/2019
Use these limits to determine if the buyer qualifies for the IHDA Homeownership program for any loan committed through IHDA on or after 8/1/2019. Please note these limits may be different for any loan taking a Mortgage Credit Certificate (MCC)
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)
IHDA Mortgage Products Procedural Guide
Procedural guide for IHDA Mortgage Products. Revised March 2020.
A guide to the MITAS system, a web based application that allows IHDA’s lender network to reserve loans.
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.
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.
IHDA Homeownership Newsletters
Archived newsletters for lenders that provide important changes to the IHDA Single Family Homeownership Program.
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.
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.
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.
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.
Mortgage Credit Certificate (MCC) Program Doc Set
This is to be used only with Access loans utilizing an MCC.
For use on MCC Program ONLY when borrower or spouse is NOT required to file federal tax return during any of the three preceding years.
Homeownership Income Calculator Effective 8/1/2019
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 8/1/2019. 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 7/1/2019
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 7/1/2019. 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 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.
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.
1stHomeIllinois (with DPA) Combined Document Set
1stHomeIllinois Document Set – 1stMortgage with Down Payment Assistance (DPA) for first time homebuyers only or those exempt. Please 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 8/1/2019
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 8/1/2019. 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 7/1/2019
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 7/1/2019. 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 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.
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.
Provides a detailed look at all program information for the I-Refi 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 8/1/2019
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 8/1/2019. 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 7/1/2019
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 7/1/2019. 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 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.
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.
Form to be completed by the borrower or any household member 18 or older to verify zero income for a period of time.
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
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.
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