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Down Payment Assistance

Housing Programs for Illinois Home Buyers
The state of Illinois has several initiatives that address housing needs. However, the growing need for affordable housing far exceeds the scope of these initiatives. Through the implementation of a variety of new affordable housing measures and additional investment in existing programs, Illinois has the opportunity to be pro-active in providing high-quality affordable housing. Affordable housing helps build healthy neighborhoods. Affordable housing also creates jobs, stabilize families, improve children’s outcomes, reduce the costs to the state associated with homelessness, and improve the health and well being of those being housed.

Permanent affordable housing needs to accommodate all consumers. More accessible housing is needed that can specifically benefit people with disabilities, which can accomplished through universal design as well as efforts to retrofit existing units. Low-income people with disabilities have specialized housing needs related to affordability, physical accessibility, and access to appropriate supportive services. This group includes people with diverse disabilities ranging from physical challenges, developmental disabilities, substance abuse disorders, and HIV/AIDS. The talents of grassroots organizations, non-profit professionals, financial institutions and elected officials must be combined to address the immense challenges of affordable housing.

Illinois Housing Development Authority
llinois Housing Development Authority (IHDA) finances mortgages through partner banks that are below the market rate, making it easier for low- and moderate-income families to qualify and afford a home. IHDA finances mortgages to households that may have difficultly qualifying for conventional mortgage programs. IHDA also finances home repair programs with grants for low-income homeowners who need to bring their homes up to code.

IHDA offers information and resources for people who are currently behind on their mortgage payments or who anticipate problems with meeting future mortgage payments. The National Foreclosure Mitigation Counseling Program, provides free foreclosure counseling and legal assistance to homeowners facing foreclosure or at risk of foreclosure.

FHL Bank Chicago
FHLBank Chicago (FHLBC) is one of twelve FHLBanks nationwide. Congress created this national network of privately owned wholesale banks in 1932 to ensure available funding for mortgages. Today, as the only wholesale source of community-building funds for neighborhood banks, the FHLBanks fill a critical vacuum by providing liquidity for small business, community development, rural and agricultural loans ó as well as home mortgage financing.

Through all economic cycles since 1932, FHLBC remains committed to serving and supporting its members. FHLBC System's purpose has been to deliver on the mission to improve access to housing finance and to foster community investment. In today's challenging economy, the value of FHLBC support has never been more relevant.

Illinois Recovery & Reinvestment
In February of 2009, President Obama and the U.S. Congress signed the American Recovery and Reinvestment Act to jumpstart the economy, save and create jobs, provide a helping hand to people affected by the recession, stabilize state and local budgets, and make investments that will provide long-term economic benefits.

The Recovery Act is designed to stimulate the economy through measures that, among other things, modernize Illinois' infrastructure, jump start American energy independence, create jobs, expand high-quality educational opportunities, preserve and improve access to affordable health care, provide middle-class tax relief, and protect those in greatest need. It is not intended to fund projects for special interests.

Illinois Manufactured Housing Association
The Illinois Manufactured Housing Association (IMHA) provides industry information, representation and education. IMHA is a trade association representing all segments of the manufactured housing industry; including manufactured home builders; suppliers; installers; retailers; community developers, owners, and managers; insurers and financial providers.

The IMHA serves as the voice of the manufactured housing industry in Illinois. For over 50 years, the IMHA has represented members of the manufactured housing industry before the Illinois legislature, county zoning boards, housing communities, and governing officials at the city, county, state and federal level. Members of the IMHA come from all aspects of the manufactured housing industry, which means IMHA works to promote the industry as a whole

Illinois Housing Authorities
Illinois housing programs are designed to create solutions to abandoned, substandard and unaffordable housing by assisting in the development of housing for low and moderate income individuals and families. These home programs are formed to assist in creating and maintaining affordable housing grants, funds for affordable housing assistance and promoting economic opportunity with for Illinois homeowners and home buyers.

Community downpayment assistance funds are provided to low and moderate income residents to provide annual grants on a formula basis to entitlement cities and counties to assist in developing Illinois cities and urban communities.

Illinois USDA Rural Development
The USDA Rural Development mission goal is to provide or partner with others in providing the financial and technical resources to assist Illinois private citizens, small businesses, nonprofit organizations, communities, cities and counties in assuring that each rural community has what it takes to improve the quality of life and be successful.

Illinois USDA Rural Development distributes loans and grants to provide rural residents with decent, safe and sanitary housing. These programs help finance new or improved housing for over 5,000 moderate, low or very-low-income families each year. Rural Housing programs provide financing, with no down payment, at favorable rates and terms, either through a direct loan with or with a loan from a private financial institution which is guaranteed by Rural Development.

Illinois Habitat for Humanity
Habitat for Humanity of Illinois is a non-profit housing organization. Founded in 1999, the organization works statewide in association with the 51 Habitat affiliates, which collectively build or repair about 80 houses annually. From 1983 through 2009, 1,373 Habitat homes have been constructed or rehabbed in Illinois.

The mission of Habitat for Humanity of Illinois is to work in partnership with the 51 Illinois Habitat affiliates, developing communities by building houses with people in need. Habitat is dedicated to eradicating poverty housing. Life in poverty housing crushes dreams. But decent homes transform lives! Renewed hope is built into each new Habitat home.

Lutheran Social Services of Illinois
Lutheran Social Services of Illinois (LSSI) is a not-for-profit social services agency of the three Illinois synods of the Evangelical Lutheran Church in America (ELCA). It serves people of all faiths and all walks of life, including children, families and adults of all ages. Founded in 1867, Lutheran Social Services is based in Des Plaines, Illinois

LSSI offers housing opportunities for persons 62 years of age or older, and for individuals who are disabled. The majority of buildings are newly designed and provide comfortable, safe and affordable living in a community environment in Aurora, Batavia, Chicago, Decatur, DeKalb, Dolton, Elmwood Park, Freeport, Joliet, Lansing, Rochelle, Rockford and Wilmette.

MacArthur Foundation
MacArthur is one of the nation's largest independent foundations. Through the support it provides, the Foundation fosters the development of knowledge, nurtures individual creativity, strengthens institutions, helps improve public policy, and provides information to the public, primarily through support for public interest media.

The MacArthur Foundation supports creative people and effective institutions committed to building a more just, verdant, and peaceful world. The Foundation works to defend human rights, advance global conservation and security, make cities better places, and understand how technology is affecting children and society.

Housing and Urban Development
HUDís mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination. HUD offers many government assisted programs and resources for Illinois homebuyers and renters.

HUD awards grants to local organizations and groups for a variety of purposes. Working with local nonprofit organizations to invest in their communities through property rehabilitation and resell to first time home buyers and low to moderate income families. HUD programs have helped millions of people from being homeless by supporting local communities initiatives.

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