A new homebuyer program designed to help increase home purchase accessibility for low- and moderate-income individuals, families, and seniors interested in purchasing a home in Illinois was recently announced by Gov. JB Pritzker.  The program is administered by the Illinois Housing Development Authority (IHDA) and the Illinois HFA1 provides $10,000 for the down payment and/or closing cost assistance.

By offering a competitive interest rate and limiting the total fees charged to the borrower, IHDA programs are designed to be as affordable as possible. This can allow for substantial savings over the life of the loan. Funding for Illinois HFA1 is expected to assist more than 1,500 new homebuyers. “Every individual, family, and senior in Illinois deserves to have a stable and safe home,” said Governor Pritzker.

Interested homeowners can find additional information and a list of participating lenders at www.ihdamortgage.org.