Illinois Homebuyers Could Qualify for Up to $15,000 in Assistance

As National Homeownership Month is recognized throughout June, the Illinois Housing Development Authority (IDHA) is highlighting programs designed to help more residents overcome financial barriers to achieve homeownership.

Illinois Expands Homeownership Opportunities

The agency, which serves as Illinois' leading financier of affordable housing developments and homebuyer assistance programs, is encouraging prospective buyers to explore a variety of resources aimed at making a home purchase more affordable.

One of the most significant tools available for first-time buyers is the IHDA's newest down payment assistance initiative, Access Home.

New Program Offers Up to $15K in Assistance

The program provides eligible homebuyers with up to $15,000 in down payment and closing cost assistance when purchasing either an existing home or a new construction property.

The assistance is paired with an affordable 30-year fixed-rate mortgage, helping buyers enter the housing market sooner and begin building equity.

Access Home is part of the broader IHDA Access suite, which includes forgivable, deferred, and repayable assistance options tailored to different financial situations. Eligibility is determined by factors including household income, credit profile, and the home's purchase price.