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IHDAccess Home is a down payment assistance program for first-time homebuyers. Here's what this means for your purchase:
Repayment: The assistance does not need to be repaid until one of the following "events" takes place (whichever comes first):
The home is sold
The home is refinanced
30 years have elapsed since the sale
Assistance: You will receive 6% of the purchase price, up to $15,000, as a 2nd mortgage, which can be used to pay your down payment, closing costs, or both!
Loan Type: Available with conventional, VA, FHA, or USDA loans.
1st Mortgage: All IHDA Mortgage programs come with a 30-year fixed-rate mortgage. This is what finances the majority of the home purchase. Speak with an Approved IHDA Lender to get a quote for the current interest rates. All IHDA Lenders are required to offer the same interest rates; they will not vary by lender.
2nd Mortgage: The assistance comes in the form of a second mortgage, and is known as a “silent 2nd,” meaning you will not have to make monthly payments on your IHDAccess Home 2nd mortgage. Like all IHDA Mortgage programs, there is no penalty for pre-payment.
What happens if I sell or refinance?
You will need to repay the full assistance amount.
I'm not a first-time homebuyer. Can I still be eligible for the program?
Most homebuyers cannot use this program if they currently own a home or have owned a home in the last three years. All borrowers (and non-borrowing spouses) must be either:
A first-time homebuyer, defined as someone who does not currently retain, or has not retained within the last three (3) years, an ownership interest in a principal residence, or
A qualified veteran (as evidenced by a COE or DD214 certificate showing honorable discharge), or
A non-first-time homebuyer purchasing a new primary residence within a targeted area. Homebuyers can search to see whether a property is located within a targeted area by searching at https://www.ihdamortgage.org/limits.
Main Requirements
IHDA Mortgage Programs require:
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The purchase of a primary residence. You must be buying a primary residence, we cannot finance a vacation home or other property that will not be your primary residence within 60 days of close.
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Borrower's credit score to be 640 or higher. Lenders use the "middle score" when making this determination, which means when they pull the scores from all three credit bureaus, the highest and lowest scores are set aside and the middle score is used to determine eligibility. If you're a homebuyer with a short credit history and have less than three scores, the lowest score (or only score) is used.
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Borrower's home to be purchased to be located anywhere in the State of Illinois.
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Borrower's income and home purchase price to fall within the current income and purchase price limits. (It's ok if you're not sure, your lender will calculate this for you).
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Borrower to contribute a minimum of 1% of the sale price or $1,000 (whichever is greater) towards the transaction. This can include items like earnest money, appraisal fees, pre-paid homeowners insurance, and sometimes gift funds (if allowed, talk to your loan officer to see if this is an option for you).
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Borrower's debt to income ratio (DTI) to be 50% or lower. This is the total of your revolving monthly debt, the amount of the your new housing payment (principal, interest, taxes and insurance), and items such as car payments, credit card bills, student loans, etc. divided by your gross monthly income (that's the amount before taxes are taken out). If you're not sure, your IHDA Approved Lender will calculate this for you.
Active Program Directory
Find a program that works for you! Select a program to learn more:
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OPENING MARCH 2, 2026 - A no monthly payment, deferred down payment assistance loan for first-time homebuyers. Repayment is due when you sell or refinance.
Assistance Amount
Assistance Maximum
6%
$15,000
Program Term Length
30 years
A no monthly payment, forgivable down payment assistance loan, no repayment unless sold or refinanced before 10 yr. forgiveness period.
Assistance Amount
Assistance Maximum
4%
$6,000
Program Term Length
10 years
A no monthly payment, deferred down payment assistance loan, payment is due when you sell or refinance.
Assistance Amount
Assistance Maximum
5%
$7,500
Program Term Length
30 years
A zero interest repayable down payment assistance loan, monthly repayment is required.
Assistance Amount
Assistance Maximum
10%
$10,000
Program Term Length
10 years
DISCLAIMER: All program funding and availability is subject to change at any time, and is not guaranteed until the lender places a complete reservation with IHDA Mortgage. Potential borrowers must meet all applicable program guidelines and income/purchase price limits for the county the property is located in to be eligible. Detailed program guidelines and requirements can be found in the procedural guide posted in the IHDA Document Library.